Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 557

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 557
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  |     |   40 |     |   10 |
| Total commitments |     |   40 |     |   10 |

Capital commitments arising from telecommunications licenses Group’s ability to generate revenue is dependent upon the operation of the wireless telecommunications networks authorized under its various licenses for GSM -900/1800, “3G” (UMTS/WCDMA) mobile radiotelephone communications services and “4G” (LTE). Under the license agreements, operating companies are subject to certain commitments, such as territory or population coverage, level of capital expenditures and number of base stations to be fulfilled within a certain timeframe. If we are found to be involved in practices that do not comply with applicable laws or regulations, we may be exposed to significant fines, the risk of prosecution or the suspension or loss of our licenses, frequency allocations, authorizations or various permissions, any of which could harm our business, financial condition, results of operations or cash flows. After expiration of the license, our operating companies might be subject to additional payments for renewals, as well as new license capital and other commitments. ACCOUNTING POLICIES Property and equipment is stated at cost, net of any accumulated depreciation and accumulated impairment losses. Depreciation is calculated on a straight -linebasis over the estimated useful lives of the assets. The useful life of Group assets generally fall within the following ranges:

| Class of property and equipment |     | Useful life           |
| Telecommunication equipment     |     | 5 – 20 years          |
| Buildings and constructions     |     | 5 – 30 years          |
| Office and other equipment      |     | 2 – 8 years           |
| Right-of-use assets             |     | Equivalent lease term |

Each asset’s residual value, useful life and method of depreciation is reviewed at the end of each financial year and adjusted prospectively, if necessary. Where applicable, the Company has applied sale and leaseback accounting principles, whereas the right -of -useasset arising from the leaseback is measured at the proportion of the previous carrying amount of the asset that relates to the right of use retained by the Group. Accordingly, the Group recognizes only the amount of any gain or loss that relates to the rights transferred to the buyer -lessor.

F-71

VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 10PROPERTY AND EQUIPMENT (cont.) SOURCE OF ESTIMATION UNCERTAINTY Depreciation and amortization of non-current assets Depreciation and amortization expenses