Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 40

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 40
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, as adjusted (A÷B) |     | $           |        7.38 |   |     | $            |        5.56 |   |     | $           |        3.05 |   |

The above dilution tables exclude the effects of the Business Combination itself, including the Forfeited Sponsor Shares; however, Public Shareholders who elect not to redeem their shares should anticipate further possible dilution at Closing of the Business Combination. The tables above also do not take into account: (i) the number of Kyivstar Group Ltd. Common Shares issuable upon exercise of Kyivstar Group Ltd. Warrants converted from 7,666,667 Cohen Circle Warrants that are only exercisable 30 days after the Closing Date and (ii) issuances pursuant to the long -termequity incentive plan to be implemented equal to 3.0% of the total outstanding common shares of Kyivstar Group Ltd. on a fully diluted basis. In addition, 1,323,838 Vesting Securities will not have vested as of the Closing Date are subject to forfeiture if the applicable vesting conditions are not satisfied. For a description of the vesting conditions, see the section of the proxy statement/prospectus entitled “ The Business Combination Agreement and Transaction Documents — Transaction Documents — Sponsor Agreement.” For a description of the risks regarding material potential sources of dilution to public stockholders in connection with the Business Combination, see the section entitled “ Risk Factors — Cohen Circle shareholders who do not redeem their Cohen Circle Public Shares will experience immediate and material dilution upon Closing of the Business Combination.”

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The following table shows the change in net tangible book value per share attributable to Cohen Circle shareholders who elect not to redeem their shares in connection with the Business Combination and related transactions, calculated as the difference between Cohen Circle’s net tangible book value per share as of March31, 2025 and Cohen Circle’s net tangible book value per share, as adjusted, assuming a no redemptions scenario, a 50% redemptions scenario, and a scenario of maximum redemptions not subject to non -redemptioncommitments pursuant to the Non -RedemptionAgreements.

| USD                                                                                
 Cohen Circle’s net tangible book value as of March 31, 2025                        
 Class A and B ordinary shares issued and outstanding as of March 31, 2025          |     | Scenario 1  
 Assuming No 
 Redemptions | (11,111,740