Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 397

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 397
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klon Ltd. and its 100% subsidiary Uklon LLC, a leading Ukrainian ride -hailingand delivery platform for a purchase consideration of US$ 158. JSC Kyivstar also entered into a symmetrical put and call option agreement for the remaining 3% interest in Uklon, which may be exercised within three years of closing. The transaction closed on April 2, 2025. Refer to Note 4 for further details. In May 2025, Kyivstar further increased its ownership of Helsi Ukraine to 97.99% for US$ 11. Refer to “major developments during nine -monthperiod ended September 30, 2025” for more details. JSC Kyivstar previously acquired a controlling share ( 69.99%) of Helsi Ukraine, an entity in the IT e -healthsector in August 2022 for US$ 15. In the interim condensed consolidated financial statements subsidiary undertakings — which are those companies in which the Group directly or indirectly, has an interest of more than half of the voting rights or otherwise has power to exercise control over the operations — have been fully consolidated. Intercompany transactions, balances and unrealized gains or losses on transactions between Kyivstar Group companies are eliminated. When necessary, amounts reported by subsidiaries have been adjusted to conform with Kyivstar Group’s accounting policies.

F-133 Kyivstar Group Ltd. Notes to the interim condensed consolidated financial statements (in millions of U.S. dollars unless otherwise stated) 1GENERAL INFORMATION (cont.) NEW ACCOUNTING POLICIES Revenue recognition policy — Uklon Uklon earns commissions from drivers for facilitating ride -hailingservices through its platform. Uklon recognizes revenue as an agent for these ride -hailingservices, recording only the commissions collected from drivers, net of any incentives provided to drivers and any incentives provided by Uklon to riders requesting ride -hailingservices, as revenue. Revenue is recognized upon completion of the ride, as this satisfies the performance obligation of facilitating the services. Uklon also has arrangements to provide advertising services to third parties that are interested in reaching users of the Uklon platform. Derivative warrant liabilities The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of its financial instruments, including issued share purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives, pursuant to IAS 32