Company: MSTR
Filing Date: 2025-11-04
Form Type: 424B5
Source: 0001193125-25-263746
Chunk: 24

Company: Strategy Inc
Filing Date: 2025-11-04
Form: 424B5
Chunk 24
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,918,518 shares of STRK Stock and 12,539,683 shares of STRD Stock were outstanding.

The up to $1,659,967,526.88 of shares of STRF Stock that we may offer and sell under this STRF Stock Annex and the accompanying base prospectus supplement and
prospectus constitutes a further issuance of shares of STRF Stock in addition to the 12,470,812 shares of STRF Stock outstanding as of the date of this STRF Stock Annex. Other than the issue date, the first regular dividend record date and the
first regular dividend payment date, the STRF Stock that we may offer and sell under this STRF Stock Annex and the accompanying base prospectus supplement and prospectus will have terms identical to, will have the same CUSIP number as, and will vote
together with, the STRF Stock outstanding as of the date of this STRF Stock Annex immediately upon issuance.

Without the consent of any holder, we may,
by resolution of our board of directors, increase the total number of authorized shares of STRF Stock, except that in no event will such increase be by an amount that exceeds the total number of authorized and undesignated shares of our preferred
stock. In addition, without the consent of any holder of STRF Stock, we may issue additional STRF Stock with the same terms as the STRF Stock we are offering (except for certain differences, such as the date as of which regular dividends begin to
accumulate on, the first regular dividend payment date for, and transfer restrictions applicable to, such additional STRF Stock). Furthermore, without the consent of any holder, we may resell any STRF Stock that we or any of our
“subsidiaries” (as defined below under the caption “—Definitions”) has purchased or otherwise acquired. However, such additional or resold STRF Stock must be identified by a separate CUSIP number or by no CUSIP number
if they are not fungible, for purposes of federal securities laws or, if applicable, the “depositary procedures” (as defined below under the caption “—Definitions”), with other STRF Stock that is then outstanding. In
addition, without the consent of any holder, we may create and issue, or increase the authorized or issued number of, any other class or series of stock, provided that such class or series of stock is not “dividend senior stock” or
“liquidation senior stock” (as those terms are defined