Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 271

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 271
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 A Ordinary Shares subject to redemption for 23,000,000 Kyivstar Group Ltd. Common Shares, (ii) the reclassification of $238million carrying amount of Cohen Circle Class A Ordinary Shares subject to redemption (liability) to Kyivstar Group Ltd. subscribed capital and capital reserves, and (iii) the elimination of the adjusted historical accumulated deficit of Cohen Circle of $25 million. C2.Under Scenario2, which assumes the Public Shareholders elected to redeem 11,500,000 Cohen Circle Class A Ordinary Shares, resulting in reductions of subscribed shares of 11,500,000, capital reserves of $119million and cash of $119million, resulting into a remaining balance of capital reserves of $119million in connection with this pro forma adjustment. C3.Under Scenario3, which assumes the Public Shareholders elected to redeem 17,948,375 Cohen Circle Class A Ordinary Shares such that the Minimum Cash Condition would be satisfied at the time of Closing, assuming no additional private placement financing, including any PIPE Investment, is raised, resulting in reductions of subscribed shares of approximatively 17,948,375 ,capital reserves of $186 million and cash of $186 million, resulting into a remaining balance of capital reserves of $52 million in connection with this pro forma adjustment. D.Reflects the exchange of 4,312,500 Cohen Circle Class B Ordinary Shares into the same number of Cohen Circle Class A Ordinary Shares with a par value of $0.0001 pursuant to the Business Combination Agreement. E.Reflects the estimated share based contingent payments of 1,323,838 Vesting Securities to be granted, based on a preliminary valuation. Fair values are based on valuation techniques (Monte Carlo) using management estimates based on the best information available to management at the time of this proxy statement/prospectus. The Vesting Securities are a potential contingent payment arrangement with the Sponsors, based on certain trading prices of Kyivstar Group Ltd. Common Shares following the Closing and not based on any service requirements. Thus, the respective Vesting Securities vest immediately upon the satisfaction of the relevant trading price thresholds and should be considered as an adjustment to the 126

grant date fair value of the IFRS 2 expense, regardless of whether any or both share price thresholds of the Vesting Securities is achieved. The actual compensation expense recorded for such Vesting Securities may differ from these estimates, and such differences may be material. The Vesting Securities, consist of two equal tranches amounting