Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 111

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 111
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 deemed dividends) in respect of Offered Shares made to a non-U.S. entity that fails to take required steps to provide information regarding its “United States
accounts” or its direct or indirect “substantial United States owners,” as applicable, or to make a required certification that it has no such accounts or owners. Although withholding under FATCA would have applied to payments of
gross proceeds from the taxable disposition of the Offered Shares, proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final

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Treasury Regulations are issued. We will not pay any additional amounts to holders of the Offered Shares in respect of any amounts withheld. Prospective investors are urged to consult their tax
advisors regarding the possible implications of these rules for their investment in the Offered Shares.

Prospective investors should consult their tax
advisors about how information reporting and the possible imposition of withholding tax under FATCA may apply to their investment in the Offered Shares.

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PLAN OF DISTRIBUTION

We have entered into the Sales Agreement with the Agents, under which we may offer and sell up to $20,340,632,356.64 of our shares of STRK Stock under this
STRK Stock Annex from time to time through the Agents acting as our sales agents, or their respective broker-dealer affiliates (each such entity, a “Selling Agent”). Sales of our STRK Stock, if any, under this STRK Stock Annex may be
made by any method that is deemed an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act or any other method permitted by law, which may include negotiated transactions or block trades. We entered into the
Sales Agreement on November 4, 2025.

Because there is no minimum offering amount required as a condition to effect this offering of securities under this
STRK Stock Annex, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable at this time. We estimate that the total expenses for this offering, excluding any commissions or expense reimbursement payable
to the Agents under the terms of the Sales Agreement, will be approximately $300,000. The remaining sale proceeds, after deducting any other transaction fees, will equal our net proceeds from the sale of such shares.

The offering of our securities pursuant to this STRK Stock Annex and the accompanying base prospectus supplement will terminate upon the earlier of