Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 286

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 286
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 |   |
| Remeasurement of carrying value to redemption value                       |     |   |  18,947,909 |   |
| Class A Ordinary Shares subject to possible redemption, December 31, 2024 |     | $ | 233,369,247 |   |
| Plus:                                                                     |     |   |             |   |
| Remeasurement of carrying value to redemption value                       |     |   |   2,443,761 |   |
| Class A Ordinary Shares subject to possible redemption, March 31, 2025    |     | $ | 235,813,008 |   |
| Plus:                                                                     |     |   |             |   |
| Remeasurement of carrying value to redemption value                       |     |   |   2,458,506 |   |
| Class A Ordinary Shares subject to possible redemption, June 30, 2025     |     | $ | 238,271,514 |   |

Net Income (Loss) per Ordinary Share The Company complies with accounting and disclosure requirements of FASB ASC Topic 260, “Earnings Per Share.” Income and losses are shared pro rata to the shares. Net income (loss) per Ordinary Share is computed by dividing net income (loss) by the weighted average number of Ordinary Shares outstanding for the period. Accretion associated with the redeemable Ordinary Shares is excluded from net income (loss) per Ordinary Share as the redemption value approximates fair value. The calculation of diluted income (loss) per Ordinary Share does not consider the effect of the Warrants issued in connection with the (i) Initial Public Offering, (ii) the exercise of the over -allotmentoption and (iii) Private Placement, since the average price of the Ordinary Shares for the three and six months ended June 30, 2025 was less than the exercise price and therefore, the inclusion of such Warrants under the Treasury stock method would be anti -dilutiveand the exercise is contingent upon the occurrence of future events:

| Basic and diluted net income (loss) per common share  
 Numerator:                                            |     | For the Three Months Ended June 30, 
 2025                                
 Class A                             
 redeemable                          |            |     | Class A and B  
 non-redeemable |           |     | 2024    
 Class A |   |     | Class B |           |   |
|:------------------------------------------------------|:----|:------------------------------------|-----------:|