Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 325

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 325
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 the year ended December 31, 2024. Key Performance Indicators and Non-IFRS Financial Measures Non-IFRS Financial Measures We also manage our business by tracking Adjusted EBITDA, Adjusted EBITDA Margin and capital expenditures excluding licenses and rights of use (“Capex excl. licenses and ROU”), which each constitute non -IFRSfinancial measures. We believe these measures are useful to investors in evaluating our operating performance. We use non -IFRSmeasures 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 these measures, when taken collectively with financial measures prepared in accordance with IFRS, may be helpful to investors because they provide additional tools 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, Adjusted EBITDA Margin and Capex excl. licenses and ROU may not be comparable to other similarly entitled measures computed by other companies. We do not consider Adjusted EBITDA, Adjusted EBITDA Margin or and Capex excl. licenses and ROU in isolation or as alternatives to financial measures determined in accordance with IFRS. Investors are encouraged to review these measures and their respective reconciliations to the most directly comparable IFRS financial measures included below and to not rely on any single financial measure to evaluate our business. We define Adjusted EBITDA as earnings before interest, tax, depreciation, amortization, impairment, gain/loss on disposals of non -currentassets, net foreign exchange gain and other non -operatinggains/losses, net. We define Adjusted EBITDA Margin as Adjusted EBITDA divided by total operating revenue. We define Capex excl. licenses and ROU as purchases of property, plant and equipment and intangible assets, after deducting additions in licenses and right -of -useassets. 171

The following table presents the reconciliation of profit for the period to Adjusted EBITDA and purchases of property, plant and equipment to Capex excl. licenses and ROU for the three months ended March31, 2025 and 2024 and the years ended December 31, 2024 and 2023:

|                                               |     |     Three months 
            ended 
        March 31,