Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 587

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 587
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 US$496), including US$24 Old Notes, and an interest rate of 4.0%. The other bond is denominated in Russian Ruble (“RUB”), with an outstanding amount of US$108 (RUB9,040) (2024: US$89 (RUB9,040)), including US$14 (RUB1,200) Old Notes maturing on June 18, 2025 and carries an interest rate of 6.3%. The lease liabilities are primarily (approximately 70%) related to the sale of the passive infrastructure of sites to the entity under common control and lease back places on those sites. Financing activities during the three-month period ended March 31, 2025 There were no significant financing activities during the three -monthperiod ended March 31, 2025, except as disclosed above in this section. Financing activities during the three-month period ended March 31, 2024 There were no significant financing activities during the three -monthperiod ended March 31, 2024.

F-103

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 8CASH AND CASH EQUIVALENTS Cash and cash equivalents consisted of the following items as of:

|                                                                                 |     | March 31, 
      2025 |     | December 31, 
         2024 |
|:--------------------------------------------------------------------------------|:----|----------:|:----|-------------:|
| Cash and cash equivalents at banks and on hand                                  |     |       558 |     |          479 |
| Cash equivalents with original maturity of less than three months               |     |       154 |     |          195 |
| Cash and cash equivalents, as presented in the combined statement of cash flows |     |       712 |     |          674 |

Cash and cash equivalents at banks and on hand include cash of US$10 (2024: US$10) retained by the Company in accordance with the demerger proposal and an estimated amount of US$213 (2024: US$235) to cover the repayment of the 2025 Notes in combination with the intercompany loan receivable due from VEON Amsterdam B.V. (as disclosed in Note 7). Cash at banks held by Kyivstar amounting to US$335 (2024: US$234) earns interest based on bank deposit rates. Short -termdeposits are made for varying