Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 248

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 248
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 is not necessarily indicative of the operating results and financial position that would have been achieved had the Business Combination occurred on the date indicated, and does not reflect adjustments for any anticipated synergies, operating efficiencies, tax savings or cost savings. Any cash proceeds remaining after the consummation of the Business Combination are expected to be used for general corporate purposes. The unaudited pro forma condensed combined financial information does not purport to project the future operating results or financial position of Kyivstar Group Ltd. following the completion of the Business Combination. The unaudited pro forma adjustments represent management’s estimates based on information available as of the date of this unaudited pro forma condensed combined financial information and are subject to change as additional information becomes available and analyses are performed. VEON Holdings and Cohen Circle have not had any historical operational relationship prior to the Business Combination. Accordingly, no pro forma adjustments were required to eliminate activities between the companies. The unaudited pro forma condensed combined financial information contained herein assumes that the Cohen Circle shareholders approved the Business Combination. Pursuant to the Cohen Circle Articles, Cohen Circle’s public shareholders may elect to redeem their public shares for cash even if they approve the Business Combination. Cohen Circle cannot predict how many of its Public Shareholders will exercise their right to redeem their Cohen Circle Class A Ordinary Shares for cash. The unaudited pro forma condensed combined financial information has been prepared assuming that Cohen Circle will use commercially reasonable efforts to ensure that the available cash, including the aggregate amount of cash available in the Trust Account as of Closing after taking into account all public shareholder redemptions, plus any proceeds from any private placement financing, including any PIPE Investment, *at Closing is at least $50 million. The unaudited pro forma condensed combined financial information has been prepared with three alternative scenarios of redemptions of Cohen Circle Class A Ordinary Shares by the Public Shareholders, which each include the aforementioned assumptions: • Scenario 1 — Assuming No Redemptions. This presentation assumes that no Public Shareholders exercise redemption rights with respect to Cohen Circle Class A Ordinary Shares for a pro rata share of the funds in the Trust Account; • Scenario 2 — Assuming 50% Redemptions. This presentation assumes that Public Shareholders holding 11,500,000 Cohen Circle Class A Ordinary Shares will exercise their redemption rights for approximately $119 million of funds in the Trust Account. • Scenario 3 — Assuming Maximum Redemptions. This presentation assumes that Public Shareholders holding 18,169,082 Cohen Circle Class A Ordinary Shares will