Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 132

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 132
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13 million for the nine months ended September 30, 2025. This decrease was driven by a decrease in deposit income and a decrease in interest received on the loan provided to VEON Amsterdam. Other non-operating (loss)/gain, net Other non -operating(loss)/gain, net decreased by $8 million from nil for the nine months ended September 30, 2024 to a loss of $8 million for the nine months ended September 30, 2025. This decrease was driven by increased purchases of U.S. dollars on the open market. Net foreign exchange (loss)/gain, net Net foreign exchange (loss)/gain, net decreased by $45 million, from a gain of $24 million for the nine months ended September 30, 2024 to a loss of $21 million for the nine months ended September 30, 2025. This decrease was driven by local currency devaluation in the nine months ended September 30, 2025. 75

Profit before tax Profit before tax decreased by $149 million, or 63.1%, from $236 million for the nine months ended September 30, 2024 to $87 million for the nine months ended September 30, 2025. This decrease was primarily due to the one time listing expense incurred in the nine months ended September30, 2025. Excluding the effect of the listing expense, profit before tax would have increased, driven by an increase in total operating revenue and the consolidation of revenue from Uklon, and the abatement of the negative effects of the cyberattack. Income taxes Income taxes increased by $7 million, or 15.2%, from $46 million for the nine months ended September 30, 2024 to $53 million for the nine months ended September 30, 2025. This increase was driven by profit before tax for the nine months ended September30, 2025 excluding the effect of the listing expense (a non -deductibleexpense for income tax purposes), which increased compared to the nine months ended September30, 2024. The following table sets out our results of operations for the two fiscal years ended December 31, 2024 and December 31, 2023:

|                                               |     | For the year ended 
        December 31 
               2024 |   |     | 2023 |   |
|:----------------------------------------------|:----|-------------------:|:--|:----|-----:|: