Company: MSTR
Filing Date: 2025-07-07
Form Type: 424B5
Source: 0001193125-25-155880
Chunk: 95

Company: Strategy Inc
Filing Date: 2025-07-07
Form: 424B5
Chunk 95
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 government or foreign government agency obligations) that will 
 generate enough cash to make interest, principal and any other payments on the debt securities of that series on their various due dates; and                                                                                                       |

| • |     | deliver to the trustee a legal opinion of our counsel confirming that under current U.S. federal income tax law                                                                                     
 we may make the above deposit without causing you to be taxed on the debt securities any differently than if we did not make the deposit and instead repaid the debt securities ourselves when due. |

If we accomplish covenant defeasance, you could still look to us for repayment of the debt securities if there were a shortfall in the trust deposit. In fact, if one of the events of default occurred (such as our bankruptcy) and the debt securities become immediately due and payable, there may be such a shortfall. Depending on the events causing the default, you may not be able to obtain payment of the shortfall. -17-

Modification and Waiver.We and the trustee may amend or supplement the senior indenture or the senior debt securities of any series without the consent of any holder:

| • |     | to convey, transfer, assign, mortgage or pledge any assets as security for the senior debt securities of one or 
 more series;                                                                                                    |

| • |     | to evidence the succession of a corporation, limited liability company, partnership or trust to us, and the                                                                                            
 assumption by such successor of our covenants, agreements and obligations under the senior indenture or to otherwise comply with the covenant relating to mergers, consolidations and sales of assets; |

| • |     | to comply with the requirements of the SEC in order to effect or maintain the qualification of the senior 
 indenture under the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”);                  |

| • |     | to add to our covenants such new covenants, restrictions, conditions or provisions for the protection of the                                                                       
 holders, and to make the occurrence, or the occurrence and continuance, of a default in any such additional covenants, restrictions, conditions or provisions an event of default; |

| • |     | to cure any ambiguity, defect or inconsistency in the senior indenture or in any supplemental indenture or to                                                                                
 conform the senior indenture or the senior debt securities to the description of senior debt securities of such series set forth in this prospectus or any applicable prospectus supplement; |

| • |     | to establish the