Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 9

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 9
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| • |     | if we or our third-party service providers experience a disruption due to a cybersecurity attack or security                                                                                                                                 
 breach and unauthorized parties obtain access to our customers’, prospects’, vendors’, or channel partners’ data, or our data, our networks or other systems, or the cloud environments we manage, our offerings may be perceived as         
 not being secure, our reputation may be harmed, demand for our offerings may be reduced, our operations may be disrupted, we may incur significant legal and financial liabilities, and our business could be materially adversely affected; |

Risks Related to Our STRC Stock

| • |     | although the STRC Stock is senior to our class A common stock, class B common stock, 8.00% series A perpetual                                                                                                               
 strike preferred stock (“STRK Stock”), and 10.00% series A perpetual stride preferred stock (“STRD Stock”), it is junior to our 10.00% series A perpetual strife preferred stock (“STRF Stock”) and our existing and future 
 indebtedness, structurally junior to the liabilities of our subsidiaries and subject to the rights and preferences of any other class or series of preferred stock then outstanding;                                        |

| • |     | our right to unilaterally reduce the regular dividend rate could cause the STRC Stock to accumulate dividends at                                                                        
 rates that are below those of otherwise comparable instruments, could cause the trading price or value of the STRC Stock to decrease, and could otherwise significantly harm investors; |

| • |     | we may not have sufficient funds to pay dividends in cash on the STRC Stock, or we may choose not to pay                             
 dividends on the STRC Stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends; |

| • |     | without the consent of any holder of STRC Stock, we may issue preferred stock in the future that ranks equally                                         
 with or senior to the STRC Stock with respect to dividends and liquidation rights, which may adversely affect the rights of holders of the STRC Stock; |

| • |     | the STRC Stock has only limited voting rights; |

| • |     | future sales, or the perception of future sales, of our debt instruments, STRC Stock, or other classes or series                                         
 of liquidation senior stock, liquidation parity stock, dividend senior stock or dividend parity stock could depress the trading price of the STRC Stock; |

| • |     | we may be unsuccessful in achieving, or may abandon,