Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 418

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 418
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 things, the relationship between its market capitalization and its book value, as well as the weighted average cost of capital and the quarterly financial performances of each CGU when reviewing for indicators of impairment in interim periods. Refer to the table above for an overview of the carrying value of goodwill. Impairment losses The Company performed annual impairment testing of goodwill as of September 30, 2025 and 2024. Based on the analysis performed, no impairment was identified for any CGUs. FINANCING ACTIVITIES OF THE GROUP

7 INVESTMENTS, DEBT AND DERIVATIVES

The Company holds the following investments and derivative assets:

|                                               |     | September 30, 
          2025 |     | December 31, 
         2024 |
|:----------------------------------------------|:----|--------------:|:----|-------------:|
| At fair value                                 |     |               |     |              |
| Other financial assets – VEON Ltd. shares     |     |             — |     |            8 |
|                                               |     |             — |     |            8 |
| At amortized cost                             |     |               |     |              |
| Loan receivable from VEON Amsterdam B.V.      |     |             — |     |          363 |
| Indemnity receivable from VEON Amsterdam B.V. |     |            39 |     |            — |
| Other receivables from VEON Amsterdam B.V.    |     |             9 |     |            — |
| Total Other financial assets – related party  |     |            48 |     |          363 |
| Investments and derivatives                   |     |           104 |     |           94 |
| Security deposits and cash collateral         |     |           102 |     |           64 |
| Other investments                             |     |             2 |     |           30 |

F-148

Kyivstar Group Ltd. Notes to the interim condensed consolidated financial statements (in millions of U.S. dollars unless otherwise stated) 7INVESTMENTS, DEBT AND DERIVATIVES (cont.)

At fair value

Other financial assets

VEON Ltd. shares as of December 31, 2024 of US$, represented ordinary shares of VEON Ltd. (the ultimate Parent of Kyivstar Group) measured at fair value through other comprehensive income.

During the nine-month period ended September 30, 2025, the Company further purchased ordinary shares of