Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 330

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 330
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 different carrying value of intangible assets with finite lives. We continue to evaluate the amortization period for intangible assets with finite lives to determine whether events or circumstances warrant revised amortization periods. A change in estimated useful lives is a change in accounting estimate, and depreciation and amortization charges are adjusted prospectively.

F-75

VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 12INVESTMENTS IN SUBSIDIARIES The Company held direct investments in JSC Kyivstar as of December 31 as detailed in the table below. The equity interest presented represents the economic rights available to the Company.

|                                |     | Equity interest held by the Group |     |            |     |        |   |     |        |   |
| Name of significant subsidiary |     | Country of                        
 incorporation                     |     | Nature of  
 subsidiary |     |   2024 |   |     |   2023 |   |
| JSC Kyivstar*                  |     | Ukraine                           |     | Operating  |     | 99.995 | % |     | 99.995 | % |

____________ *Based on the development with respect to the freezing of VEON’s corporate rights in Kyivstar as discussed in Note 1 , the Company has full control over its subsidiaries in the Ukraine For details on indirect investments of the Company in further subsidiaries, refer to Note 1. MATERIAL PARTLY-OWNED SUBSIDIARIES Apart from Helsi, the Company has no material partly -ownedsubsidiaries. SIGNIFICANT ACCOUNTING JUDGEMENTS Control over subsidiaries JSC Kyivstar, over which the Company is deemed to have control, and its subsidiaries as discussed in Note 1are combined for the purpose of these combined financial statements. 13OTHER NON-OPERATING GAIN / (LOSS), NET Other non -operatinggain/ (loss), net consisted of the following for the year ended December 31:

|                                                                                |     | 2024 |   |     | 2023 |   |
| Change in fair value of put option liability                                   |     |    3 |   |     |   (3 | ) |
| Income from sale of scrap metal                                                |     |    — |   |     |    2 |   |
| Loss on purchase and sale of foreign currency for purchase of government bonds |     |    — |   |     |   (7 | ) |
| Other gain/(loss)                                                              |     |   (