Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 318

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 318
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 been shorter than 12 months. Such costs are expensed immediately. Such costs relate primarily to commissions paid to third parties upon top -upof prepaid credit by customers and sale of top -upcards. SOURCE OF ESTIMATION UNCERTAINTY Average customer life Management estimates the average customer life for revenue (such as upfront fees) from contracts with an indefinite term and for customer acquisition costs. The average customer life is calculated based on historical data, specifically churn rates which are impacted by customer demographic and the nature and terms of the product (such as mobile and fixed line, prepaid and postpaid). Revenue from fixed lines services represents monthly charges to the Group’s subscribers for access to the fixed telephone lines network and for routing the subscribers’ calls through this network. Such revenue is recognized in the period when the respective service is rendered to subscribers. F-61

VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 4SELLING, GENERAL AND ADMINISTRATIVE EXPENSES Selling, general and administrative expenses consisted of the following items for the year ended December 31:

|                                                    |     | 2024 |     | 2023 |
| Network and IT costs                               |     |  140 |     |  124 |
| Personnel costs                                    |     |   89 |     |   86 |
| Customer associated costs                          |     |   41 |     |   39 |
| Consulting, professional and other services        |     |   14 |     |    5 |
| Taxes, other than income taxes                     |     |    9 |     |    7 |
| Facility and office supplies                       |     |    6 |     |    9 |
| Losses on receivables                              |     |    2 |     |    2 |
| Other                                              |     |    4 |     |   12 |
| Total selling, general and administrative expenses |     |  305 |     |  284 |

LEASES Short -termleases and leases for low value items are immediately expensed as incurred. ACCOUNTING POLICIES Customer associated costs Customer associated costs relate primarily to commissions paid to third -partydealers and marketing expenses. Certain customer acquisition costs are initially capitalized within ‘Other Assets’ in the combined statement of financial position and subsequently amortized within “Customer associated costs”. Refer to Note 3for further details. 5TRADE AND OTHER RECEIVABLES Trade and other receivables consisted of the following items as of December 31