Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 340

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 340
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5 |
| Total commitments |     |    7 |     |    5 |

ACCOUNTING POLICIES

Intangible assets acquired separately are carried at cost less accumulated amortization and impairment losses.

Intangible assets with a finite useful life are generally amortized with the straight-line method over the estimated useful life of the intangible asset. The amortization period and the amortization method for intangible assets with finite useful lives are reviewed at least annually and fall within the following ranges:

| Class of intangible asset                                |     | Useful life   |
| Telecommunications licenses, frequencies and permissions |     | 3 – 20 years  |
| Software                                                 |     | 3 – 10 years  |
| Brands and trademarks                                    |     | 3 – 15 years  |
| Customer relationships                                   |     | 15 – 40 years |
| Other intangible assets                                  |     | 4 – 10 years  |

Goodwill is recognized for the future economic benefits arising from net assets acquired that are not individually identified and separately recognized. Goodwill is not amortized but is tested for impairment annually and as necessary when circumstances indicate that the carrying value may be impaired, see Note 9 for further details.

SOURCE OF ESTIMATION UNCERTAINTY

Refer also to Note 10 for further details regarding source of estimation uncertainty.

Depreciation and amortization of non-current assets

Estimates in the evaluation of useful lives for intangible assets include, but are not limited to, the estimated average customer relationship based on churn, the remaining license or concession period and the expected developments in technology and markets.

The actual economic lives of intangible assets may be different than estimated useful lives, thereby resulting in a different carrying value of intangible assets with finite lives. We continue to evaluate the amortization period for intangible assets with finite lives to determine whether events or circumstances warrant revised amortization periods. A change in estimated useful lives is a change in accounting estimate, and depreciation and amortization charges are adjusted prospectively.

F-75

VEON Holdings B.V.
GENERAL INFORMATION ABOUT THE GROUP

12INVESTMENTS IN SUBSIDIARIES

The Company held direct investments in JSC Kyivstar as of December 31 as detailed in the table below.

|                                |     | Equity interest held by the Group |     |            |     |        |   |     |        |   |
| Name of significant subsidiary |     | Country of                        
 incorporation                     |     | Nature of  
 subsidiary |     |