Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0001193125-25-263653
Chunk: 40

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B2
Chunk 40
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 to make any change to the senior debt securities of any series so long as no senior debt securities of such 
 series are outstanding; or                                                                                  |

| • |     | to make any change that does not adversely affect the rights of any holder in any material respect. |

Other amendments and modifications of the senior indenture or the senior debt securities issued may be made, and our compliance with any provision of the senior indenture with respect to any series of senior debt securities may be waived, with the consent of the holders of a majority of the aggregate principal amount of the outstanding senior debt securities of each series affected by the amendment or modification (voting as separate series); provided, however, that each affected holder must consent to any modification, amendment or waiver that:

| • |     | extends the final maturity of any senior debt securities of such series; |

| • |     | reduces the principal amount of any senior debt securities of such series; |

| • |     | reduces the rate, or extends the time for payment of, interest on any senior debt securities of such series; |

| • |     | reduces the amount payable upon the redemption of any senior debt securities of such series; |

| • |     | changes the currency of payment of principal of or interest on any senior debt securities of such series; |

| • |     | reduces the principal amount of original issue discount securities payable upon acceleration of maturity or the 
 amount provable in bankruptcy;                                                                                  |

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| • |     | waives a continuing default in the payment of principal of or interest on the senior debt securities (other than 
 any such default in payment resulting solely from an acceleration of the senior debt securities);                |

| • |     | changes the provisions relating to the waiver of past defaults or impairs the right of holders to receive payment                                     
 or to institute suit for the enforcement of any payment or conversion of any senior debt securities of such series on or after the due date therefor; |

| • |     | modifies any of the provisions of these restrictions on amendments and modifications, except to increase any                                                                                             
 required percentage or to provide that certain other provisions cannot be modified or waived without the consent of the holder of each senior debt security of such series affected by the modification; |

| • |     | adversely affects the right to convert or exchange senior debt securities into class A common stock, other 
 securities or property in accordance with the terms of the senior debt securities; or                      |

| • |     | reduces the above-stated percentage of outstanding