Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 341

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 341
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 This increase was driven by the “customer appreciation program” deployed in the three months ended March31, 2024 at a value of $46million, which lowered revenue due to the provision of a discount on one month of services to affected customers, enabling higher year -on-yeargrowth in the three months ended March31, 2025. Net cash flows from operating activities increased by $17million, or 4.1%, from $413 million for the year ended December 31, 2023 to $430million for the year ended December 31, 2024. This increase was driven by predominantly by lower operating cash inflows in 2024 due to the effects of the cyber attack in December 2023. Net cash flows used in investing activities Net cash flows used in investing activities decreased by $39million, or 37.9%, from $103million for the three months ended March31, 2024 to $64million for the three months ended March31, 2025. This decrease was driven by higher cash inflows from maturity of government bonds ($57million increase), partially offset by higher capex, including expenditures on property, plant and equipment and intangible assets ($18million increase). Net cash flows used in investing activities decreased by $195million, or 59.6%, from $327 million for the year ended December 31, 2023 to $132million for the year ended December 31, 2024. This decrease was driven by higher cash inflows from maturity of government bonds ($293million increase), partially offset by the acquisition of spectrum licenses for $35million and other capital investments of $63million.

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Net cash flows used in financing activities Net cash used in financing activities increased by $23million, or 328.6%, from $7million for the three months ended March31, 2024 to $30million for the three months ended March31, 2025. This increase was driven by the purchase of VEON Ltd. shares executed by VEON Holdings B.V. under the VEON Ltd. share repurchase program. Net cash flows used in financing activities decreased by $51million, or 58.0%, from $88 million for the year ended December 31, 2023 to $37million for the year ended December 31, 2024. This decrease was driven by a decrease in repayment of debt. Indebtedness We held the following outstanding debt and derivatives liabilities as of March31, 2025 and