Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263900
Chunk: 12

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 12
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 terminate (and, if the authorized number of our directors was increased by one or two, as applicable, in connection with such election, then the authorized number of our directors will automatically decrease by one or two, as 
 applicable).                                                                                                                                                                                                                                    |

SA-5

| Subject to the exceptions and limitations described in this STRK Stock Annex, the affirmative vote or consent of preferred stockholders, and holders of each class or series of voting parity stock, if any, with similar                    
 voting or consent rights with respect to such event, representing at least a majority of the combined outstanding voting power of the STRK Stock and such voting parity stock will be required for certain transactions or events, including 
 (i) certain amendments to our certificate of incorporation or the certificate of designations establishing the terms of the STRK Stock; (ii) certain consolidations, combinations and mergers involving us; and (iii) certain binding or     
 statutory share exchanges or reclassifications involving the STRK Stock.                                                                                                                                                                     |

| See “Description of STRK Stock—Voting Rights.” |

| Ranking | The STRK Stock ranks as follows: |

| • |     | senior to (i) “dividend junior stock” (as defined in this STRK Stock Annex, and which includes our                                                                                                                             
 class A common stock, our class B common stock and our 10.00% Series A Perpetual Stride Preferred Stock (“STRD Stock”)) with respect to the payment of dividends; and (ii) “liquidation junior stock” (as defined in this STRK 
 Stock Annex, and which includes our class A common stock, our class B common stock and our STRD Stock) with respect to the distribution of assets upon our liquidation, dissolution or winding up;                             |

| • |     | equally with (i) “dividend parity stock” (as defined in this STRK Stock Annex) with respect to the                                                                                          
 payment of dividends; and (ii) “liquidation parity stock” (as defined in this STRK Stock Annex) with respect to the distribution of assets upon our liquidation, dissolution or winding up; |

| • |     | junior to (i) dividend senior stock (as defined in this STRK Stock Annex, and which includes our 10.00%                                                                                                          
 Series A Perpetual Strife Preferred Stock (“STRF Stock”) and our Variable Rate Series A Perpetual Stretch Preferred Stock (“STRC Stock”)) with respect to the payment of dividends; and (