Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 302

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 302
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 |      |     |      |   |     |      |   |
| Repayment of debt                                                     |     |   14 |     |  (29 | ) |     |  (88 | ) |
| Investment in shares of VEON Ltd.                                     |     |   14 |     |   (8 | ) |     |    — |   |
| Net cash flows used in financing activities                           |     |      |     |  (37 | ) |     |  (88 | ) |
| Net increase/(decrease) in cash and cash equivalents                  |     |      |     |  261 |   |     |   (2 | ) |
| Net foreign exchange difference                                       |     |      |     |  (12 | ) |     |   (5 | ) |
| Cash and cash equivalents at beginning of period                      |     |      |     |  425 |   |     |  432 |   |
| Cash and cash equivalents at end of period                            |     |   15 |     |  674 |   |     |  425 |   |

The accompanying notes are an integral part of these combined financial statements

F-50 VEON Holdings B.V.
GENERAL INFORMATION ABOUT THE GROUP 1GENERAL INFORMATION VEON Holdings B.V. ( “VEON Holdings”, the “Company”), was established as a private company with limited liability under the laws of the Netherlands on June 29, 2009. The registered office and principal place of business of VEON Holdings B.V. is located at Claude Debussylaan88, 1082 MD Amsterdam, the Netherlands. The entity is an indirectly wholly -ownedsubsidiary of VEON Ltd. (“ Parent”). On January 13, 2025, VEON Ltd. announced its intention to indirectly list JSC Kyivstar, including its subsidiaries as listed below (in aggregate “ Kyivstar”), VEON’s digital operator in Ukraine, on the Nasdaq Stock Market LLC (“Nasdaq”) in the United States (the “ Transaction”). As part of the preparation for the indirect listing, VEON will undertake a pre -transactionreorganization of VEON Holdings (the “Reorganization”). This Reorganization will be consummated through a Dutch legal demerger, as a result of which VEON Holdings, which will remain domiciled in the Netherlands, will hold only Kyivstar and its subsidiaries and certain other select assets and liabilities. VEON has commenced the demerger