Company: MSTR
Filing Date: 2025-07-31
Form Type: 424B5
Source: 0001193125-25-170517
Chunk: 107

Company: Strategy Inc
Filing Date: 2025-07-31
Form: 424B5
Chunk 107
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 of the holders of each such senior debt security. Upon any such waiver, such default shall cease to exist, and any event of default with respect to such senior debt securities shall be deemed to have been cured, for every purpose of the senior indenture; but no such waiver shall extend to any subsequent or other default or event of default or impair any right consequent thereto. -15-

The holders of a majority in aggregate principal amount of a series of senior debt securities may direct the time, method and place of conducting any proceeding for any remedy available to the trustee or exercising any trust or power conferred on the trustee with respect to such senior debt securities. However, the trustee may refuse to follow any direction that conflicts with law or the senior indenture, that may involve the trustee in personal liability or that the trustee determines in good faith may be unduly prejudicial to the rights of holders of such series of senior debt securities not joining in the giving of such direction and may take any other action it deems proper that is not inconsistent with any such direction received from holders of such series of senior debt securities. A holder may not pursue any remedy with respect to the senior indenture or any series of senior debt securities unless:

| • |     | the holder gives the trustee written notice of a continuing event of default; |

| • |     | the holders of at least 25% in aggregate principal amount of such series of senior debt securities make a written 
 request to the trustee to pursue the remedy in respect of such event of default;                                  |

| • |     | the requesting holder or holders offer the trustee indemnity satisfactory to the trustee against any costs, 
 liability or expense;                                                                                       |

| • |     | the trustee does not comply with the request within 60 days after receipt of the request and the offer of 
 indemnity; and                                                                                            |

| • |     | during such 60-day period, the holders of a majority in aggregate                                                                    
 principal amount of such series of senior debt securities do not give the trustee a direction that is inconsistent with the request. |

These limitations, however, do not apply to the right of any holder of a senior debt security of any affected series to receive payment of the principal of and interest on such senior debt security in accordance with the terms of such debt security, or to bring suit for the enforcement of any such payment in accordance with the terms of such debt security, on or after the due date for the senior debt securities, which right shall not be impaired or affected without the consent