Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 6

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 6
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 the issuance of such STRF Stock).                                                                                                         |

| Declared regular dividends on the STRF Stock are payable solely in cash, in the manner, and subject to the provisions, described in this STRF Stock Annex. |

| If any accumulated regular dividend (or any portion thereof) on the STRF Stock is not paid on the applicable regular dividend payment date (or, if such regular dividend payment date is not a business day, the next                              
 business day), then additional regular dividends, which we refer to as “compounded dividends,” will accumulate on the amount of such unpaid regular dividend, compounded quarterly at the “compounded dividend rate,” from, and                    
 including, such regular dividend payment date to, but excluding, the date the same, including all compounded dividends thereon, is paid in full. The compounded dividend rate applicable to any unpaid regular dividend that was due on a “regular 
 dividend payment date” (as defined in this STRF Stock Annex) (or, if such regular dividend payment date is not a business day, the next business day) will initially be a rate per annum equal to the “regular dividend rate” (as                  
 defined in this STRF Stock Annex) plus 100 basis points; provided, however, that until such regular dividend, together with compounded dividends thereon, is paid in full, such compounded dividend rate will increase by 100                      
 basis points per annum for each subsequent regular dividend period, up to a maximum rate of 18% per annum.                                                                                                                                         |

| If we fail to declare a regular dividend on or prior to a given regular record date, such failure shall constitute the                                                                                      
 issuance of a notice of deferral. Upon issuance of such notice, we shall use commercially reasonable efforts over the following 60-day period to sell class A common stock and/or other securities to raise 
 proceeds in an amount sufficient to cover any deferred dividends that would have been due                                                                                                                   |

SA-2

| with respect to the applicable regular dividend payment date, plus compounded dividends thereon, on the next “deferred regular dividend payment date” (as defined in this STRF Stock                                                                 
 Annex). Payment of any declared regular dividend on such deferred regular dividend payment date will be made, if at all, to the preferred stockholders of record as of the close of business on the “deferred regular record date” (as               
 defined in this STRF Stock Annex) immediately preceding such deferred regular dividend payment date. If we fail to pay in full such regular dividend, plus compounded dividends thereon