Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 262

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 262
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 as decrease in capital reserves of $and decrease in retained earnings of $for Scenarios1, 2 and 3. 4.2 Adjustments to the unaudited pro forma condensed combined income statement for the year ended December 31, 2024 The following adjustments have been reflected in the unaudited pro forma condensed combined income statement: AA. To reflect the preliminary estimated share -basedcompensation expense recognized, in accordance with IFRS2, for the excess of the fair value of PubCo Common Shares issued and the fair value of Cohen Circle’s identifiable net assets acquired from the Transactions, resulted in the in other operating expenses in the amount of $ , $ and $ under Scenario1, Scenario 2 and Scenario3, respectively. This is a nonrecurring item. BB.To reflect the cancellation of fees incurred in connection with the Administrative Support Agreement and the Cohen Circle Service Agreement. This is a non -recurringitem and will not affect PubCo’s combined income statement or loss beyond 12 months after the closing of the Transactions. CC.To reflect the payment of approximately $, $, and $transaction costs under Scenarios 1 through 3 of estimated and incremental transaction costs incurred in connection with the Transactions that will be borne by PubCo on the Closing date following the Closing. This is a non -recurringitem and will not affect PubCo’s combined income statement or loss beyond 12 months after the closing of the Transactions. This is a nonrecurring item. DD.To reflect the change in fair value of 7,666,666.67 Public Warrants to the most recent date based on available information. The fair value of Public Warrants was remeasured using the market price of Cohen Circle’s Public Shares on, 2025. This results in a fair value increase of $compared to their fair value as of December 31, 2024 included in Cohen Circle’s historical statement of financial position as of December 31, 2024. 129

In total this pro forma adjustment resulted in an increase in finance expenses of $in the unaudited pro forma condensed combined income statement for the year ended December 31, 2024. This pro forma adjustment is presented for the purpose of calculating pro forma adjustments H and AA. EE.To reflect the elimination of interest income generated from the investments held in the Trust Account. FF.To reflect the estimated grant date fair value of the Vesting Securities, and related share -basedcompensation expense, as described in pro forma adjustment G.