Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 83

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 83
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50million. The unaudited pro forma condensed consolidated financial information has been prepared with three alternative scenarios of redemptions of Cohen Circle’s Class A Ordinary Shares by the Public Shareholders, which each include the aforementioned assumptions: • Scenario 1— Assuming No Redemptions. This scenario assumes that none of the Cohen Circle Class A Ordinary Shares are redeemed subsequent to December31, 2024 or otherwise in connection with the Business Combination; • Scenario 2— Assuming 50% Redemptions. This scenario assumes that Public Shareholders will elect to redeem 11,500,000 Cohen Circle Class A Ordinary Shares at a per share redemption price of approximately $10.35. • Scenario 3— Assuming Maximum Redemptions. This scenario assumes that Public Shareholders will elect to redeem 18,169,082 Cohen Circle Class A Ordinary Shares at a per share redemption price of approximately $10.35, so that there is at least $50 million in available cash in the Cohen Circle Trust Account at the time of Closing. ____________ *As of the date of this proxy statement/prospectus, no amounts have been committed under any equity or debt financing, including any PIPE Investment. The assumption is solely for illustrative purposes and is not meant to reflect the parties’ intentions to work to obtain any equity or debt financing, including any PIPE Investment, prior to Closing. 18

The following table summarizes the pro forma Kyivstar Group Ltd. Common Shares issued and outstanding immediately after the Closing, presented under the three scenarios listed above. Further, we anticipate that, upon completion of the Business Combination, the approximate ownership interests of PubCo, will be as set forth in the table below: Summary of each scenario Pro Forma Condensed Combined Statement of Financial Position as of December 31, 2024 (Unaudited)

|                                                    |     | Adjusted  
 VEON      
 Holdings  
 (Kyivstar 
 business) 
 (IFRS)    |     | Cohen Circle      
 Historical        
 (after IFRS       
 adjustments       
 and alignment     
 reclassifications 
 (IFRS)            |     | Scenario 1    
 Assuming      
 No Additional 
 Redemptions   |     | Scenario 2      
 Assuming        
 50% Redemptions |     | Scenario 3  
 Assuming    
 Maximum     
 Redemptions |
| USD in millions                                    |     | Pro Forma 
 Combined  |     | Pro Forma         
 Combined          |     | Pro Forma     
 Combined      |     |                 |     |             |