Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 92

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 92
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2024 and 2023 were derived from the audited combined financial statements of VEON Holdings B.V. included elsewhere in this proxy statement/prospectus. All amounts reflected below are in U.S. dollars. The following summary historical financial information should be read together with the financial statements and accompanying notes and “ Kyivstar Management’s Discussion and Analysis of Financial Condition and Results of Operations” appearing elsewhere in this proxy statement/prospectus. The summary historical financial information in this section is not intended to replace VEON Holdings B.V.’s financial statements and the related notes. Kyivstar Group’s historical results are not indicative of the combined company’s future results. As explained elsewhere in this proxy statement/prospectus, the financial information contained in this section relates to Kyivstar Group, prior to and without giving pro forma effect to the impact of the Business Combination and, as a result, the results reflected in this section may not be indicative of the results of the combined entity following the Business Combination. See the sections entitled “ Summary to the Proxy Statement / Prospectus — Parties to the Business Combination — JSC Kyivstar” and “ Unaudited Pro Forma Condensed Combined Financial Information” included elsewhere in this proxy statement/prospectus. 17

| USD in millions                               |     | Three months 
        ended 
    March 31, 
         2025 |   |     | Three months 
        ended 
    March 31, 
         2024 |   |     |   Year ended 
 December 31, 
         2024 |   |     |   Year ended 
 December 31, 
         2023 |   |
|:----------------------------------------------|:----|-------------:|:--|:----|-------------:|:--|:----|-------------:|:--|:----|-------------:|:--|
| Revenue                                       |     |          255 |   |     |          186 |   |     |          919 |   |     |          915 |   |
| Other operating income                        |     |            — |   |     |            — |   |     |            1 |   |     |            1 |   |
| Service costs                                 |     |          (24 | ) |     |          (24 | ) |     |         (100 | ) |     |          (94 | ) |
| Selling, general and administrative expenses  |     |          (91 | ) |     |          (69 | )