Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263719
Chunk: 12

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 12
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 assets upon our liquidation, dissolution or winding up; and (iii) our existing and future indebtedness (including all of our issued and outstanding “Convertible Notes” (as defined in this STRC Stock Annex)); 
 and                                                                                                                                                                                                                                    |

| • |     | structurally junior to all existing and future indebtedness and other liabilities, including trade payables, and 
 (to the extent we are not a holder thereof) capital stock of our subsidiaries.                                   |

| As of September 30, 2025, excluding intercompany indebtedness, we had approximately $8.24 billion in aggregate principal amount of consolidated indebtedness outstanding. Additionally, as of October 31,                         
 2025, there were 12,470,812 shares of STRF Stock outstanding, 13,918,518 shares of STRK Stock outstanding, 12,539,683 shares of STRD Stock outstanding, and no dividend parity stock or liquidation parity stock outstanding. Our 
 indebtedness and STRF Stock rank senior to the STRC Stock.                                                                                                                                                                        |

| Transfer Agent and Paying Agent for the STRC Stock | U.S. Bank Trust Company, National Association. |

| Listing | The STRC Stock is listed on The Nasdaq Global Select Market under the symbol “STRC.” On November 3, 2025, the last reported sale price of our STRC Stock as reported on The Nasdaq Global Select Market was $99.61 per share. |

SA-6

| Risk Factors | Investing in the STRC Stock involves risks. See the “Risk Factors” section of this STRC Annex and the “Risk Factors”, “Risk Factors Related to the ATM Offering Programs” and “Risk Factors Updates”                                                      
 sections contained in the accompanying base prospectus supplement and prospectus and in the documents incorporated by reference into, the accompanying base prospectus supplement and prospectus for a discussion of factors to consider carefully before 
 deciding to invest in shares of our STRC Stock.                                                                                                                                                                                                           |

| Material United States Federal Income Tax Considerations | For a description of material U.S. federal income tax consequences of purchasing, owning, and disposing of the STRC Stock, see “Material United States Federal Income Tax Considerations.” In particular, holders should review the 
 discussion under “Material United States Federal Income Tax Considerations—Fast-Pay Stock Regulations” regarding the potentially adverse consequences that would apply if any shares of STRC                                        
 Stock were treated as “fast-pay” stock.                                                                                                                                                                                             |

| Book-Entry Form | We