Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 363

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 363
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 18, 2025, respectively. As of June 30, 2025, Bonds represent the principal amounts outstanding for April 2025 Old Notes (US$23) and June 2025 Old Notes (US$15 (RUB1,200)) which were not exchanged for New Notes prior to their respective maturity dates. Upon tender from Old noteholders, it is the Company’s intention to exchange the Old Notes, including accrued interest, of eligible noteholders against a cash settlement. Eligibility is based on successful completion of a sanctions check procedure. An indemnity agreement between VEON Holdings and VEON Amsterdam is in place which is to see VEON Holdings made whole for any external payments to eligible noteholders. The lease liabilities are primarily (approximately 70%) related to the sale of the passive infrastructure of sites to the entity under common control and lease back places on those sites. Other financial liabilities primarily include contingent consideration payable for Uklon Group acquisition of US$13 (refer to Note 4 for further details), long term financial liability for license for the Digital Business Support System of US$12 and long -termfinancial interest free loan of US$5 received from UTC, a related party, with maturity on May 30, 2027.

F-109

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 7INVESTMENTS, DEBT AND DERIVATIVES (cont.) Significant changes in financial assets and financial liabilities There were no significant changes in financial assets and financial liabilities during six -monthperiod ended June 30, 2025 and 2024, except as discussed below. Financing activities during the six-month period ended June 30, 2025 Except for the bond repayment transactions disclosed above, there were no further significant financing activities during the six -monthperiod ended June 30, 2025, except as disclosed above in this section. Financing activities during the six-month period ended June 30, 2024 There were no significant financing activities during the six -monthperiod ended June 30, 2024. 8CASH AND CASH EQUIVALENTS Cash and cash equivalents consisted of the following items:

|                                                                                 |     | June 30, 
     2025 |     | December 31, 
         2024 |
|:--------------------------------------------------------------------------------|:----|---------:|:----|-------------:|
| Cash and cash equivalents at banks and on hand