Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 581

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 581
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 agreement to acquire 97% of Uklon Group (“Uklon”), a leading Ukrainian ride -hailingand delivery platform for a purchase consideration of US$155. JSC Kyivstar also 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. The transaction closed on April 2, 2025. This strategic acquisition marks Kyivstar’s expansion into a new area of digital consumer services in line with VEON’s digital operator strategy. The agreement is subject to customary closing conditions and approvals. For the subsequent developments in this regard refer Note 12. F-98

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 1GENERAL INFORMATION (cont.) VEON Completes First Phase of Share Buyback Program On January 27, 2025, the US$30 first phase of VEON Ltd.’s share buyback program (as carried out by VEON Holdings B.V.) was completed, resulting in an additional purchase of US$22 of VEON Ltd. shares. Subsequently, during the three -monthperiod ended March 31, 2025, all the shares purchased were transferred to VEON Amsterdam B.V. (refer to Note 7 for further details). Major developments during the three-month period ended March 31, 2024 Cybersecurity Incident in Ukraine The cybersecurity incident reported during 2023 had a significant impact for the three -monthperiod ended March 31, 2024 associated with the revenue loss arising from the customer loyalty measures taken by Kyivstar in order to compensate for the inconvenience caused during the disruptions. The impact of these offers on operating revenue in 2024 was US$46. Changes in Directors of VEON Holdings B.V. On March 7, 2024, Bruce John Leishman and Maciej Bogdan Wojtaszek were appointed statutory directors of the Company, while on the same date Jochem Benjamin Postma and Paul Klaassen stepped down as statutory directors of the Company. OPERATING ACTIVITIES OF THE GROUP 2SEGMENT INFORMATION The Kyivstar operations are considered as one operating segment. Management evaluates Kyivstar’s performance on a regular basis, primarily based on earnings before interest, tax, depreciation, amortization, impairment, gain/loss on disposals of non -currentassets and other non -operatinggains/losses (“ Adjusted