Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 263

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 263
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 This is a nonrecurring item. Earnings per share Represents the earnings per share calculated using the historical weighted average shares outstanding, and the issuance of additional shares in connection with the Business Combination, assuming the shares were outstanding since January 1, 2024. As the Business Combination is being reflected as if it had occurred at the beginning of the period presented, the calculation of weighted average shares outstanding for basic and diluted net loss per share assumes that the shares issued in connection with the Business Combination have been outstanding for the entire period presented. If the number of public shares described under the “Assuming Maximum Redemptions” scenario described above are redeemed, this calculation is retroactively adjusted to eliminate such shares for the entire period. The unaudited pro forma condensed combined financial information has been prepared assuming 3 alternative levels of redemption of Kyivstar Group Ltd. Common Shares. The pro forma basic and diluted net loss per share amounts presented in the unaudited pro forma condensed combined income statement are based upon the number of the Kyivstar Group Ltd. Common Shares outstanding as of December 31, 2024, assuming the Transactions occurred on January 1, 2024. As the unaudited pro forma condensed combined income statement is in a loss position, anti -dilutiveinstruments are excluded in the calculation of diluted weighted average number of ordinary shares outstanding, including Kyivstar Group Ltd. Public Warrants to acquire Kyivstar Group Ltd. Common Shares, which are held by former holders of Kyivstar Group Ltd. Public Warrants. As the Transactions are being reflected as if they had occurred at the beginning of the period presented, the calculation of weighted average PubCo Shares outstanding for basic and diluted net loss per share assumes that the shares issuable relating to the Transactions have been outstanding for the entire period presented. Proforma earning per share

|                                                            |     | As of and for the Year Ended December 31, 2024 |     |                   |     |                    |
|:-----------------------------------------------------------|:----|:-----------------------------------------------|:----|:------------------|:----|:-------------------|
|                                                            |     | Adjusted                                       
 VEON Holdings                                  
 (Kyivstar                                      
 business)                                      
 (IFRS)                                         |     | Cohen Circle      
 Historical        
 (after IFRS       
 adjustments       
 and alignment     
 reclassifications 
 (IFRS)            |     | Pro Forma Combined |
| USD in millions, except of share and                       
 per share data                                             |     |