Re: MSTR-Capital Structure Update.

Quick update on recent quarterly results.

Here’s an updated capital structure:

Debt:

Silvergate SOFR+3.7% due 3/23/25 -- $205 mm

Senior Secured 6.125% due 6/15/28 -- $489 mm

Convert 0.75% due 12/15/25 -- $640 mm

Convert 0% due 2/15/27 -- $1032 mm

Other — $11 mm

Total Debt Net of Cash — $2317 mm

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