Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 108

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 108
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 |     | if such series of preferred stock does not have a cumulative dividend, we have declared and paid or              
 contemporaneously declare and pay or set aside funds to pay full dividends for the then current dividend period. |

In addition, we will not acquire any preferred stock of a series unless:

| • |     | if that series of preferred stock has a cumulative dividend, we have declared and paid or contemporaneously                                                                                            
 declare and pay or set aside funds to pay full cumulative dividends on all outstanding shares of such series of preferred stock for all past dividend periods and the then current dividend period; or |

| • |     | if that series of preferred stock does not have a cumulative dividend, we have declared and paid or                                                    
 contemporaneously declare and pay or set aside funds to pay full dividends on the preferred stock of such series for the then current dividend period. |

However, at any time we may purchase or acquire preferred stock of that series (1) pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding preferred stock of such series or (2) by conversion into or exchange for shares of our capital stock ranking junior to the preferred stock of such series as to dividends and upon liquidation. If fewer than all of the outstanding shares of preferred stock of any series are to be redeemed, we will determine the number of shares that may be redeemed pro rata from the holders of record of such shares in proportion to the number of such shares held or for which redemption is requested by such holder or by any other equitable manner that we determine. Such determination will reflect adjustments to avoid redemption of fractional shares. Unless otherwise specified in the prospectus supplement, we will mail notice of redemption at least 10 days but not more than 60 days before the redemption date to each holder of record of preferred stock to be redeemed at the address shown on our stock transfer books. Each notice shall state:

| • |     | the redemption date; |

| • |     | the number of shares and series of preferred stock to be redeemed; |

| • |     | the redemption price; |

| • |     | the place or places where certificates for such preferred stock are to be surrendered for payment of the 
 redemption price;                                                                                        |

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| • |     | that dividends on the shares to be redeemed will cease to accrue on such redemption date; |

| • |     | the date on which the holder’s conversion rights, if any, as to such shares shall terminate; and |

| • |     |