Company: KYIV
Filing Date: 2025-09-30
Form Type: F-1/A
Source: 0001213900-25-093621
Chunk: 135

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-30
Form: F-1/A
Chunk 135
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 |         38 |     |           75 |     |          102 |
| Capex excl. licenses and ROU     |     |              134 |     |         75 |     |          221 |     |          155 |

Adjusted EBITDA, Adjusted EBITDA Margin and Capex excl. licenses and ROU are non -IFRSfinancial measures that are used by our management to measure and evaluate our internal operating performance. The components of Adjusted EBITDA include the key revenue and expense items for which our operating managers are responsible and upon which their performance is evaluated. However, a limitation of the use of Adjusted EBITDA as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue or the need to replace capital equipment over time. The components of Capex excl. licenses and ROU include core capital expenditures. However, a limitation of the use of Capex excl. licenses and ROU as a performance measure is that it does not capture long -livedassets acquired in business combinations. We may incur future expenses similar to those excluded when calculating Adjusted EBITDA, Adjusted EBITDA Margin and Capex excl. licenses and ROU. In addition, our presentation of these measures should not be construed as an inference that our future results will not be affected by unusual or non -recurringitems.

79

Key Performance Indicators

|                                    |     |   | Six months 
      ended 
   June 30, 
       2025 |     |   | Six months 
      ended 
   June 30, 
       2024 |     |   |   Year ended 
 December 31, 
         2024 |     |   |   Year ended 
 December 31, 
         2023 |
|:-----------------------------------|:----|:--|-----------:|:----|:--|-----------:|:----|:--|-------------:|:----|:--|-------------:|
| Doubleplay 4G customers            |     |   |  6,097,979 |     |   |  6,511,208 |     |   |    5,596,753 |     |   |    7,042,184 |
| Mobile ARPU                        |     | $ |       3.44 |     | $ |       2.72 |     | $ |         3.00 |