Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 123

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 123
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 subject to market conditions. For example, in April 2025, we acquired Uklon, a leading Ukrainian ride -hailingand delivery platform. Upon closing of the deal, we acquired 97% of Uklon shares for a total consideration of $158 million. In connection with the acquisition of Uklon, JSC Kyivstar entered into a symmetrical put and call option agreement for the remaining 3% interest in Uklon, which may be exercised within three years of closing. See “ Business — Recent Developments. ”Consummation of such transactions may have an effect on comparability of our results from one period to another. In August 2022, we acquired 69.99% of Helsi, an IT e -healthprovider in Ukraine, which aimed to enhance our presence in the IT e -healthsector, leveraging Helsi’s software, IT staff and expertise, for an aggregate cash consideration of $15 million. As part of the share purchase agreement, JSC Kyivstar entered into a symmetrical put and call option agreement for the remaining 30.01% interest in Helsi. As a result, on the acquisition date, we determined that we had a present ownership interest in the remaining 30.01% interest in Helsi and accounted for the put liability as part of the consideration transferred, and no non -controllinginterest was recognized. Accordingly, the put option has been recorded as a financial liability at the present value of the amounts payable on exercise with subsequent changes recognized in profit or loss. At the time of acquisition, the expected payout for this option was valued at $7 million, but as of December 31, 2023, it had increased to $11 million. The expected payout for the put option is included in our debt and derivatives, and the option itself is recorded under other investments at the discounted redemption amount, with a valuation of $9 million as of December 31, 2024. This change in valuation was due to an unwinding of interest amounting to $2 million included in finance costs, partially offset by a gain from change in fair value of put option liability amounting to $3 million, included in other non -operatinggain/(loss) net, and gains from foreign currency translations amounting to $1 million. See “— Indebtedness.” In May 2025, we increased our stake in Helsi to 97.99%. See “ Business — Recent Developments.” In addition