Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 47

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 47
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ations in writing by first class mail, certified or registered, return receipt requested, or by overnight air courier

SA-28

guaranteeing next day delivery, to the preferred stockholders’ respective addresses shown on the register for the STRF Stock. However, in the case of STRF Stock represented by one or more
global certificates, we are permitted to send notices or communications to preferred stockholders pursuant to the depositary procedures, and notices and communications that we send in this manner will be deemed to have been properly sent to such
preferred stockholders in writing.

Definitions

“Affiliate” has the meaning set forth in Rule 144 under the Securities Act as in effect on March 25, 2025.

“Board of directors” means our board of directors or a committee of such board duly authorized to act on behalf of such board.

“Business day” means any day other than a Saturday, a Sunday or any day on which the Federal Reserve Bank of New York is authorized or required by
law or executive order to close or be closed.

“Capital stock” of any person means any and all shares of, interests in, rights to purchase,
warrants or options for, participations in, or other equivalents of, in each case however designated, the equity of such person, but excluding any debt securities convertible into such equity.

“Class A common stock” means our class A common stock, $0.001 par value per share.

“Class B common stock” means our class B common stock, $0.001 par value per share.

“Close of business” means 5:00 p.m., New York City time.

“Compounded dividends” has the meaning set forth above under the caption “—Regular Dividends—Generally.”

“Compounded dividend rate” has the meaning set forth above under the caption “—Regular Dividends—Generally.”

“Deferred regular dividend payment date” shall mean the date that is one trading day after the 60th calendar day after a regular dividend payment
date with respect to which the full amount of regular dividends has not been paid (or, if such trading day is not a business day, the next business day).

“Deferred regular record date” means the 15th calendar day preceding the relevant deferred regular dividend payment date (whether or not a
business day).

“Depositary” means The Depository Trust Company or its successor, or any successor depositary for the applicable shares of
STRF Stock.

“Depositary procedures” means, with respect