Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 104

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 104
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 “Information Reporting and Backup Withholding,” you generally will not be subject to U.S. federal income or withholding tax with respect to gain, if any, recognized on a sale, exchange or other taxable disposition of the Offered Shares (or common stock), other than a redemption that is treated as a distribution as discussed below, unless:

| • |     | the gain is effectively connected with your conduct of a trade or business within the United States, and, if     
 certain tax treaties apply, is attributable to a permanent establishment or fixed base within the United States; |

SA-65

| • |     | you are a nonresident alien individual that is present in the United States for 183 or more days in the taxable 
 year of the disposition and certain other conditions are satisfied; or                                          |

A non-U.S.holder described in the first bullet point above generally will be subject to U.S. federal income tax on the net gain derived from the sale in the same manner as a U.S. holder. A non-U.S.holder that is a foreign corporation will be subject to tax on such gain at regular U.S. federal income tax rates and, in addition, may be subject to a branch profits tax at a 30% rate or a lower rate if so specified by an applicable income tax treaty. A non-U.S.holder described in the second bullet point above will be subject to U.S. federal income tax at a rate of 30% (or such lower rate specified by an applicable income tax treaty) on the gain recognized, which may be offset by certain U.S. source capital losses of the non-U.S.holder (even though the individual is not considered a resident of the United States), provided the non-U.S.holder has timely filed U.S. federal income tax returns with respect to such losses. With respect to the third bullet point above, we believe we currently are not, and do not anticipate becoming, a USRPHC. A payment made to you in redemption of the Offered Shares may be treated as a dividend, rather than as a payment in exchange for the stock, in the circumstances discussed above under “U.S. Holders—Sale or Redemption of Offered Shares or Common Stock,” in which event the payment would be subject to tax as discussed above under “Non-U.S.Holders—Distributions.” Non-U.S.holders should consult their tax advisors regarding potentially applicable income tax treaties that may provide for different rules. Conversion of Offered Shares into Common Stock Non-U.S.holders