Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 323

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 323
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For more information on our financial liabilities and other commitments please refer to Note 7 — Provisions and Contingent Liabilitiesand Note 10 — Property and Equipmentof our Audited Combined Financial Statements included elsewhere in this proxy statement/prospectus. Quantitative and Qualitative Disclosures about Financial Risks General We are exposed to credit risks, foreign currency exposure and liquidity risks due to the use of financial instruments. The financial instruments comprise cash and cash equivalents, current financial investments, and other current financial assets. We also have various other financial instruments, such as trade payables and trade receivables, prepaid credit balances that are refundable to customers or can be used as currency to purchase items from other suppliers, which arise directly from its operations. For more information, please refer to Note 16 — Financial Risk Managementof our Audited Combined Financial Statements included elsewhere in this proxy statement/prospectus. Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. We are exposed to credit risk from our operating activities, primarily in respect of trade receivables, and from our treasury activities, including deposits with banks and financial institutions, derivative financial instruments and other financial instruments. Financial instruments, which potentially expose us to significant concentrations of credit risk, consist principally of cash in bank, short -termdeposits, and trade and other receivables. Our maximum credit risk exposure as of December 31, 2024 was $ and comprised .

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Our cash and deposits are primarily held in banks located in Ukraine. As of December 31, 2024,% of cash and cash equivalents were held in three banks. The cash and cash equivalents retained by the Company in accordance with the Demerger relates to bank accounts of VEON. In addition, our analysis by credit quality of cash and cash equivalents is based on credit ratings as published by the credit rating agency Fitch Ratings Inc. (“Fitch”). For cash and cash equivalents, we assessed our expected credit loss based on Fitch’s rating for rated banks and based on the sovereign rating of Ukraine. Based on our assessment, we concluded that the identified impairment loss was immaterial. Further, our accounts receivable are presented net of allowances. We do not require collateral for trade receivables, and we have a credit policy in place and the exposure to credit risk