Strategy, Inc.

Strategy Inc. 10.00% Series A Perpetual Strife Preferred Stock is a fixed-income preferred equity instrument issued by Strategy Inc., a company recognized for its pioneering approach to using Bitcoin as a primary treasury reserve asset. This asset is designed to provide steady income, featuring a cumulative dividend rate of 10.00% per annum calculated on a $100 stated value, with dividends paid quarterly if declared by the board. The cumulative feature ensures that any missed dividends accumulate and, if unpaid, compound at an increasing rate—starting at 11% and potentially reaching a maximum of 18% per annum. Unlike convertible preferred shares, this Series A issue does not include a conversion feature, emphasizing predictable income over equity upside. It is senior to Strategy's other preferred and common equity, prioritizing claims in the capital structure. The offering has been targeted toward income-oriented investors seeking stability, such as pension funds, and has raised significant capital to support Strategy Inc.'s operating needs and its ongoing acquisition of Bitcoin. In the financial market, this asset represents a blend of technology sector exposure and structured yield, while its perpetual nature means it does not mature, offering indefinite dividend potential so long as the issuer remains solvent.