Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 93

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 93
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 |     | Three months 
        ended 
    March 31, 
         2024 |     |   Year ended 
 December 31, 
         2024 |     |   Year ended 
 December 31, 
         2023 |
|:----------------|:----|-------------:|:----|-------------:|:----|-------------:|:----|-------------:|
| Adjusted EBITDA |     |          140 |     |           93 |     |          515 |     |          538 |

We use Adjusted EBITDA, a non -IFRSfinancial measure, to supplement our consolidated financial statements, which are presented in accordance with IFRS. We use Adjusted EBITDA in addition to our results determined in accordance with IFRS in order to evaluate our financial and operating performance, to generate future operating plans and make strategic decisions. We believe that Adjusted EBITDA, when taken collectively with financial measures prepared in accordance with IFRS, may be helpful to investors because it provides an additional tool for investors to use in evaluating our ongoing operating results and trends and in comparing our financial results with other companies operating in similar industries because they provide consistency and comparability with past financial performance. Our computation of Adjusted EBITDA may not be comparable to other similarly entitled measures computed by other companies, including VEON. For additional information about Adjusted EBITDA, including a reconciliation of Adjusted EBITDA to the most directly comparable IFRS measure, see “ Kyivstar Management’s Discussion and Analysis of Financial Condition and Results of Operations — Key Performance Indicators and Non -IFRS Financial Measures.”

18

Summary Historical Consolidated Financial Information of Cohen Circle The following table shows summary historical financial information of Cohen Circle for the periods and as of the dates indicated. The summary historical financial information of Cohen Circle as of March31, 2025 and for the three months ended March31, 2025 and 2024 were derived from the unaudited historical financial statements of Cohen Circle included elsewhere in this proxy statement/prospectus. The summary historical financial information of Cohen Circle as of December 31, 2024 and 2023 and for the years ended December 31, 2024 and 2023 were derived from the audited historical financial statements of Cohen Circle included elsewhere in this proxy statement/prospectus. All amounts reflected below are in U.S. dollars. The following summary historical financial information should be read together with the financial statements and accompanying