Company: KYIV
Filing Date: 2025-09-30
Form Type: F-1/A
Source: 0001213900-25-093621
Chunk: 344

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-30
Form: F-1/A
Chunk 344
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 a separate independent legal group and had it therefore presented stand -aloneinterim condensed combined financial information during the periods presented. Further, these interim condensed combined financial statements may not be indicative of the Company’s future performance, financial position, or cash flows. The interim condensed combined income statement has been presented based on the nature of the expense, other than ‘Selling, general and administrative expenses’, which has been presented based on the function of the expense. The interim condensed combined financial statements have been prepared on a historical cost basis, unless otherwise disclosed. FOREIGN CURRENCY TRANSLATION For the purpose of these interim condensed combined financial statements, the assets and liabilities measured in the functional currency are translated into U.S. dollars at exchange rates prevailing on the balance sheet date, whereas income and expenses are generally translated into U.S. dollars at historical monthly average exchange rates. Foreign currency translation adjustments resulting from the process of translating financial statements into U.S. dollars are reported in other comprehensive income and accumulated within a separate component of Net investment. F-96 VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 1GENERAL INFORMATION (cont.) CARVE-OUT PRINCIPLES The following paragraphs summarize the accounting and other principles applied in preparing the CFS. Intercompany and related party transactions Intercompany transactions and assets and liabilities between VEON Group entities have been eliminated in these interim condensed combined financial statements. Investment in VEON Ltd. shares As of December 31, 2024 the CFS included shares of the Parent purchased by the Company as part of the share buyback program initiated by VEON Ltd. VEON Holdings B.V. purchased Parent shares via open market transactions under the share buyback program. The Company made additional purchases under the share buyback program in January 2025 and transferred the shares to VEON Amsterdam B.V. in March 2025. Refer to Note 7 for details. Net investment The Net Investment of the Company consists of the Net Investment attributable to the shareholders and other comprehensive income. The CFS do not show share capital. Since the Company has no share capital and reserves in its own right, any equity represents the parent’s net investment. Thus, the presentation of the equity of the Company differs from the presentation of equity as prescribed in IAS1, Presentation of Financial Statements. For such reasons, no earnings per share is presented. Notes Liabilities related to two separate Notes maturing in April 2025 and June 2025 (the “