Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 396

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 396
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 is expected to create operational synergies, leading to cost savings and improved service offerings. The acquisition also allows for market expansion and increased subscriber growth potential, while Uklon’s technological expertise contributes to innovative capabilities. Overall, the goodwill reflects the anticipated future economic benefits arising from these elements. The goodwill will not be deductible for tax purposes. There were no transactions recognized separately from the acquisition of assets and assumption of liabilities in the business combination. From the date of acquisition, Uklon contributed US$46 of revenue and US$14 profit before tax to VEON. If the acquisition had taken place at the beginning of the year, the contribution to revenue would have been US$66 and contribution to the profit before tax for Kyivstar Group would have been US$19. These amounts have been calculated using Uklon’s results and adjusting them for: •differences in the accounting policies between Kyivstar Group and Uklon, and •additional amortization that would have been charged on the assumption that the fair value adjustments to intangible assets had applied from January1, 2025, together with their consequential tax effects. Acquisition -relatedcosts of US$0.5 are included in selling, general and administrative expenses in the interim condensed consolidated income statement, and in operating cash flows in the interim condensed consolidated statement of cash flows. The accounting for the purchase of Uklon is provisional as the valuation of certain intangible and long -termassets, accounts payable, other assets and liabilities, and residual goodwill related to this acquisition is not complete. The fair values assigned to tangible and intangible assets acquired and liabilities assumed are preliminary based on management’s estimates and assumptions and may be subject to change as additional information is obtained within the measurement period (not to exceed 12 months from the acquisition date ending April 2, 2026). F-146

Kyivstar Group Ltd. Notes to the interim condensed consolidated financial statements (in millions of U.S. dollars unless otherwise stated) 4SIGNIFICANT TRANSACTIONS (cont.) During the three -monthperiod ended September 30, 2025, Kyivstar recorded measurement period adjustments related to the acquisition of Uklon to reflect additional information identified after the six -monthperiod ended June 30, 2025. The adjustments include recognition of US$6 million of unpaid Seller transaction costs as assumed Seller liabilities and a total decrease of US$1 million related to the fair value of the put option liability and deferred tax liability. As a result, the fair value of