Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 93

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 93
---
 the payment of amounts to owners of beneficial interests in a global certificate, for any aspect of the records relating to, or payments made on account of, those interests by DTC or for maintaining, supervising or reviewing any records of DTC relating to those interests. Payments by participants and indirect participants in DTC to the owners of beneficial interests in a global certificate will be governed by standing instructions and customary industry practice and will be the responsibility of those participants or indirect participants and DTC. Transfers between participants in DTC will be effected under DTC’s procedures and will be settled in same-dayfunds. SA-58

Physical Certificates A global certificate will be exchanged, pursuant to customary procedures, for one or more physical certificates only if:

| • |     | DTC notifies us or the transfer agent that it is unwilling or unable to continue as depositary for such global                                                                                                   
 certificate or DTC ceases to be a “clearing agency” registered under Section 17A of the Exchange Act and, in each case, we fail to appoint a successor depositary within 90 days of such notice or cessation; or |

| • |     | we, in our sole discretion, permit the exchange of any beneficial interest in such global certificate for one or 
 more physical certificates at the request of the owner of such beneficial interest.                              |

SA-59

MATERIAL UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS The following discussion is a summary of material U.S. federal income tax considerations relevant to the purchase, ownership, conversion and disposition that are applicable to the shares of STRK Stock issued under this STRK Stock Annex (such shares issued hereunder referred to as “Offered Shares” for purposes of this discussion) and the ownership and disposition of our class A common stock (hereinafter referred to as “common stock” for purposes of this discussion) received in respect of the Offered Shares (including upon conversion), but does not purport to be a complete analysis of all potential U.S. federal income tax considerations. This discussion deals only with shares of the Offered Shares held as capital assets, within the meaning of Section 1221 of the Internal Revenue Code of 1986, as amended (the “Code”), by holders who purchase such shares in this offering. This discussion does not cover all aspects of U.S. federal income taxation that may be relevant to the purchase, ownership, conversion or disposition of the Offered Shares or the ownership or disposition of our common stock by prospective investors in light