Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 42

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 42
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C Stock outstanding as of the date of this prospectus supplement. Other than the issue date, and in the case of STRC Stock issued after August 15, 2025, the
first regular dividend record date, the STRC Stock that we may offer and sell under this prospectus supplement and the accompanying prospectus will have terms identical to, will have the same CUSIP number as, and will vote together with, the STRC
Stock outstanding as of the date of this prospectus supplement immediately upon issuance.

Without the consent of any holder, we may, by resolution of our
board of directors, increase the total number of authorized shares of STRC Stock, except that in no event will such increase be by an amount that exceeds the total number of authorized and undesignated shares of our preferred stock. In addition,
without the consent of any holder of STRC Stock, we may issue additional STRC Stock with the same terms as the STRC Stock we are offering (except for certain differences, such as the date as of which regular dividends begin to accumulate on, the
first regular dividend payment date for, and transfer restrictions applicable to, such additional STRC Stock). Furthermore, without the consent of any holder, we may resell any STRC Stock that we or any of our “subsidiaries” (as defined
below under the caption “—Definitions”) has purchased or otherwise acquired. However, such additional or resold STRC Stock must be identified by a separate CUSIP number or by no CUSIP number if they are not fungible, for purposes of
federal securities laws or, if applicable, the “depositary procedures” (as defined below under the caption “—Definitions”), with other STRC Stock that is then outstanding. In addition, without the consent of any holder, we
may create and issue, or increase the authorized or issued number of, any other class or series of stock (including, for the avoidance of doubt, “dividend senior stock,” “dividend parity stock,” “liquidation senior
stock” or “liquidation parity stock” (as those terms are defined below under the caption “—Definitions”)), including our STRF Stock.

S-28

Subject to applicable law, we or our subsidiaries may directly or indirectly repurchase STRC Stock in the open market or otherwise, whether through private or public tender or exchange offers, cash-settled swaps or other cash-settled derivatives. Transfer Agent, Registrar and Paying Agent U.S.