Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 6

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 6
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.S. and foreign federal, state, and local governments and                                                                               
 government agencies, including risks related to the procurement process, budget constraints and cycles, termination of contracts, and compliance with government contracting requirements; |

S-4

| • |     | if we are unable to recruit or retain skilled personnel, or if we lose the services of Michael J. Saylor, our 
 business, operating results, and financial condition could be materially adversely affected;                  |

| • |     | changes in laws or regulations relating to privacy or the collection, processing, disclosure, storage,                                                                                                                                            
 localization, or transmission of personal data, or any actual or perceived failure by us or our third-party service providers to comply with such laws and regulations, contractual obligations, or applicable privacy policies, could materially 
 adversely affect our business;                                                                                                                                                                                                                    |

| • |     | if we experience a disruption due to a cybersecurity attack or security breach and unauthorized parties obtain                                                
 access to data, networks or other systems, we may incur significant legal and financial liabilities, and our business could be materially adversely affected; |

| • |     | our having entered into an indemnification agreement with Michael J. Saylor, our Chairman of the Board of                                                                                                                                           
 Directors and Executive Chairman, that supplements our conventional director and officer liability insurance provided by third-party insurance carriers could negatively affect our business and the market price of the perpetual strife preferred 
 stock;                                                                                                                                                                                                                                              |

Risks Related to Our Series A Perpetual Strife Preferred Stock

| • |     | although the perpetual strife preferred stock is senior to our class A common stock, class B common stock, and                                                                                                                       
 8.00% Series A perpetual strike preferred stock (“perpetual strike preferred stock”), it is junior to 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 that we may issue in the future;                                                                                                                                         |

| • |     | we may not have sufficient funds to pay dividends in cash on our perpetual strife preferred stock, or we may                                                                 
 choose not to pay dividends on our perpetual strife preferred stock. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends; |

| • |     | without the consent of any holder of perpetual strife preferred stock, we may issue preferred stock in the future                                                                                        
 that ranks equally with our perpetual strife preferred stock with respect to dividends and liquidation rights, which may adversely affect the rights of holders of our perpetual