Company: MSTR
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001193125-25-124554
Chunk: 68

Company: Strategy Inc
Filing Date: 2025-05-22
Form: 424B5
Chunk 68
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accounts, real estate investment trusts, regulated investment companies, persons liable for any alternative minimum tax, “controlled foreign corporations,” “passive foreign investment companies,” persons subject to special tax accounting rules as a result of any item of gross income with respect to the Offered Shares being taken into account in an applicable financial statement, certain former citizens or former long-term residents of the United States, traders in securities that elect to use a mark-to-marketmethod of tax accounting for their securities holdings, persons that will hold the Offered Shares as a position in a hedging transaction, “straddle,” constructive sale, “conversion transaction” or other risk-reduction transaction, persons that acquire any Offered Shares through the directed share program, U.S. holders (as defined herein) whose functional currency is not the U.S. dollar, “qualified foreign pension funds” as described in Section 897(l)(2) of the Code and entities all of the interests of which are held by qualified foreign pension funds, or who are otherwise subject to special treatment under the Code. Furthermore, this summary is based upon the provisions of the Code, the Treasury Regulations promulgated thereunder and administrative and judicial interpretations thereof, all as of the date hereof. Such authorities may be repealed, revoked, modified or subject to differing interpretations, possibly on a retroactive basis, so as to result in U.S. federal income tax consequences different from those discussed below. This discussion does not address any other U.S. federal tax considerations (such as estate and gift taxes) or any state, local or non-U.S.tax considerations, or the Medicare contribution tax applicable to net investment income of certain non-corporateU.S. holders. For purposes of this discussion, a “U.S. holder” means a beneficial owner of the Offered Shares that for U.S. federal income tax purposes is

| • |     | an individual who is a citizen or resident of the United States; |

| • |     | a corporation or other entity treated as a corporation for U.S. federal income tax purposes that is created or 
 organized in or under the laws of the United States, any State thereof or the District of Columbia;            |

| • |     | an estate the income of which is subject to U.S. federal income taxation regardless of its source; or |

| • |     | a trust if (a) a court within the United States is able to exercise primary control over its administration                                                                                                        
 and one or more United States persons (as defined in the Code)