Company: MSTR
Filing Date: 2025-05-01
Form Type: 424B5
Source: 0001193125-25-109950
Chunk: 11

Company: Strategy Inc
Filing Date: 2025-05-01
Form: 424B5
Chunk 11
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| • |     | 5,513,489 shares of class A common stock potentially issuable as of April 29, 2025 upon conversion of our   
 0.625% Convertible Senior Notes due 2028, subject to adjustment in accordance with the terms of such notes; |

| • |     | 4,461,600 shares of class A common stock potentially issuable as of April 29, 2025 upon conversion of our 0% 
 Convertible Senior Notes due 2029, subject to adjustment in accordance with the terms of such notes;         |

| • |     | 5,341,600 shares of class A common stock potentially issuable as of April 29, 2025 upon conversion of our                                   
 0.625% Convertible Senior Notes due 2030, subject to adjustment in accordance with the terms of such notes (the “2030A Convertible Notes”); |

| • |     | 4,614,400 shares of class A common stock potentially issuable as of April 29, 2025 upon conversion of our 0% 
 Convertible Senior Notes due 2030, subject to adjustment in accordance with the terms of such notes;         |

| • |     | 2,593,932 shares of class A common stock potentially issuable as of April 29, 2025 upon conversion of our                                  
 0.875% Convertible Senior Notes due 2031, subject to adjustment in accordance with the terms of such notes (the “2031 Convertible Notes”); |

| • |     | 3,915,200 shares of class A common stock potentially issuable as of April 29, 2025 upon conversion of our  
 2.25% Convertible Senior Notes due 2032, subject to adjustment in accordance with the terms of such notes; |

| • |     | 819,658 shares of class A common stock issuable upon conversion of the 8,196,581 shares of 8.00% Series A                                   
 Perpetual Strike Preferred Stock, par value $0.001 per share (the “Perpetual Strike Preferred Stock”) outstanding as of April 29, 2025; and |

| • |     | 23,508,406 shares of class A common stock issuable upon conversion of 235,084,069 shares of Perpetual Strike                                                                                                                           
 Preferred Stock which remain available for sale as of April 29,