Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 19

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 19
---
2023. Additionally, in December 2022, we spun off Kyivstar.Tech into a separate technology company, which remains wholly owned by us. In the year ended December 31, 2024, Kyivstar.Tech generated $24.2 million of revenue ($24.0 million of which was attributable to intra -Pre -BusinessCombination Kyivstar Group companies), compared to $19.4 million ($19.3 million of which was attributable to intra -Pre -BusinessCombination Kyivstar Group companies) in the year ended December 31, 2023. Our commitment to strategic growth continued with our acquisition of Lan Trace, a regional fixed broadband provider, for $2 million in September 2024. In April 2025, we acquired 97% of the shares in Uklon, a ride -hailingand delivery platform, for approximately $158 million. See “— Recent Developments.” Corporate Information The following diagram depicts the simplified organizational structure of Kyivstar Group Ltd. and its subsidiaries. 2 Kyivstar Group Ltd. is an exempted company limited by shares incorporated in Bermuda on March 7, 2025. To date, Kyivstar Group Ltd. has not conducted any material activities other than those incidental to its formation, the incorporation of the Merger Sub and the Business Combination. As of June 30, 2025, Kyivstar Group Ltd.’s assets only consist of Kyivstar Group Ltd.’s equity, currently held by VEON Amsterdam B.V. and recorded as Other current assets — related parties. The Kyivstar Group Ltd. Common Shares and Kyivstar Group Ltd. Warrants are listed on Nasdaq under the symbols “KYIV” and “KYIVW,” respectively. The mailing address of Kyivstar Group Ltd. is Unit 517, Level5, Index Tower, Dubai International Financial Centre (DIFC), United Arab Emirates. Recent Developments Closing of the Transactions On August 14, 2025 (the “Closing Date”), we consummated the previously announced business combination pursuant to the Business Combination Agreement. As of the Closing Date, the following transactions occurred pursuant to the terms of the Business Combination Agreement (collectively, the “Transactions”): •the sale from Seller to Kyivstar Group Ltd. all of the issued and outstanding equity of VEON Holdings in exchange for newly issued Kyivstar Group Ltd. Common Shares and the Seller Loan Note (the “Sale”), whereby VEON Holdings