Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 576

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 576
---
). Major developments during the three-month period ended March 31, 2024 Cybersecurity Incident in Ukraine The cybersecurity incident reported during 2023 had a significant impact for the three -monthperiod ended March 31, 2024 associated with the revenue loss arising from the customer loyalty measures taken by Kyivstar in order to compensate for the inconvenience caused during the disruptions. The impact of these offers on operating revenue in 2024 was US$46. Changes in Directors of VEON Holdings B.V. On March 7, 2024, Bruce John Leishman and Maciej Bogdan Wojtaszek were appointed statutory directors of the Company, while on the same date Jochem Benjamin Postma and Paul Klaassen stepped down as statutory directors of the Company. OPERATING ACTIVITIES OF THE GROUP 2SEGMENT INFORMATION The Kyivstar operations are considered as one operating segment. Management evaluates Kyivstar’s performance on a regular basis, primarily based on earnings before interest, tax, depreciation, amortization, impairment, gain/loss on disposals of non -currentassets and other non -operatinggains/losses (“ Adjusted EBITDA”) along with assessing the capital expenditures excluding certain costs such as those for telecommunication licenses and right -of -useassets (“ CAPEX excl. licenses and ROU”). The following tables present the key financial information for the three -monthperiod ended March 31:

|          |     | Service revenue |     |      |     |       |     |      |     | Other revenue |     |      |     | Total Revenue |     |      |
|          |     |          Mobile |     |      |     | Fixed |     |      |     |               |     |      |     |               |     |      |
|          |     |            2025 |     | 2024 |     |  2025 |     | 2024 |     |          2025 |     | 2024 |     |          2025 |     | 2024 |
| Kyivstar |     |             240 |     |  174 |     |    14 |     |   11 |     |             1 |     |    1 |     |           255 |     |  186 |
| Total    |     |             240 |     |  174 |     |    14 |     |   11 |     |             1 |     |    1