Company: MSTR
Filing Date: 2025-03-10
Form Type: 424B5
Source: 0001193125-25-050408
Chunk: 115

Company: Strategy Inc
Filing Date: 2025-03-10
Form: 424B5
Chunk 115
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 unclear in certain respects and, therefore, the IRS could disagree with our determination and treat
Offered Shares or Additional Shares as fast-pay stock. In addition, as discussed above under “—Multiple Issuances of Perpetual Strike Preferred Stock—Effect of Fungible Trading,” the
treatment of any shares of Perpetual Strike Preferred Stock as fast-pay stock could affect other shares of Perpetual Strike Preferred Stock if all such shares are indistinguishable with each other because they
have the same CUSIP or other identifying number. Accordingly, even if your Offered Shares are not fast-pay stock, if the IRS treated any shares of Perpetual Strike Preferred Stock as fast-pay stock, you might
be required to demonstrate to the IRS that you purchased your Offered Shares in a different issuance in order to avoid fast-pay stock treatment.

Furthermore, treatment of any shares of Perpetual Strike Preferred Stock as fast-pay stock could adversely affect the
trading price of all shares of Perpetual Strike Preferred Stock. Accordingly, holders are strongly urged to consult their tax advisors regarding the Fast-Pay Stock Regulations and their potential consequences
to an investment in the Offered Shares.

Information Reporting and Backup Withholding

In general, information reporting will apply with respect to the payment of distributions (including deemed distributions) on the Offered Shares and the
payment of proceeds on the sale or other taxable disposition of the Offered Shares, unless a U.S. holder is an exempt recipient such as a corporation. Backup withholding may apply to such payments unless the U.S. holder provides proof of an
applicable exemption or a correct taxpayer identification number, and otherwise complies with applicable requirements of the backup withholding rules.

We
must report annually to the IRS and to each non-U.S. holder the amount of distributions (including, for this purpose, deemed distributions) paid to such holder and any tax withheld with respect to any
dividends, regardless of whether withholding was required. Copies of the information returns reporting distributions and withholding may also be made available to the tax authorities in the country in which the
non-U.S. holder resides under the provisions of an applicable income tax treaty. Non-U.S. holders may be subject to backup withholding unless the non-U.S. holder certifies on IRS Form W-8BEN or IRS Form W-8BEN-E (or a suitable substitute
form) that it is not a U.S. person (and the withholding agent does not have actual knowledge or reason to know that such