Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 564

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 564
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 periods within the assessed lease term, which increases the future lease payments used in determining the lease liability upon initial recognition, except when it is not reasonably certain at the commencement of the lease that these will be exercised. F-77

VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 14INVESTMENTS, DEBT AND DERIVATIVES (cont.) The Company continuously assesses whether a revision of lease terms is required due to a change in management judgement regarding, for example, the exercise of extension and/or termination options. When determining whether an extension option is not reasonably certain to be exercised, the Group considers all relevant facts and circumstances that creates an economic incentive to exercise the extension option, or not to exercise a termination option, such as strategic plans, future technology changes, and various economic costs and penalties. Put-option liability Put options are accounted for as financial liabilities in these combined financial statements. The put -optionredemption liability is measured at the discounted redemption amount. Interest over the put -optionredemption liability will accrue in line with the effective interest rate method, until the options have been exercised or are expired. 15CASH AND CASH EQUIVALENTS Cash and cash equivalents are held for the purpose of meeting short -termcash commitments rather than for investment or other purposes. Cash and cash equivalents are comprised of cash at bank and on hand and highly liquid investments that are readily convertible to known amounts of cash, are subject to only an insignificant risk of changes in value and have an original maturity of less than three months. Cash and cash equivalents consisted of the following items as of December 31:

|                                                                                 |     | 2024 |     | 2023 |
| Cash and cash equivalents at banks and on hand                                  |     |  479 |     |  320 |
| Cash equivalents with original maturity of less than three months               |     |  195 |     |  105 |
| Cash and cash equivalents, as presented in the combined statement of cash flows |     |  674 |     |  425 |

Cash at banks held by Kyivstar amounting to US$234 (2023: US$38) earns interest based on bank deposit rates. Short -termdeposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short -termdeposit rates. Cash and cash equivalents at banks and on hand include cash of US$10 (2023: US$10