Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 69

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 69
---
 the Securities Price meets or exceeds $15.00 for 20 Trading Days out of any consecutive 30 Trading Days, if such date occurs before the second anniversary of the Closing Date; and (ii) the Second Vesting Tranche Securities (as defined in the Sponsor Agreement) shall immediately vest and no longer be subject to forfeiture on the first date that the Securities Price meets or exceeds $20.00 for 20 Trading Days out of any consecutive 30 Trading Days, if such date occurs before the fifth anniversary of the Closing Date. If the First Vesting Tranche Securities and/or the Second Vesting Tranche Securities become subject to forfeiture, such securities shall be surrendered with no consideration. Seller Lock-Up Agreement In connection with the execution of the Business Combination Agreement, the Seller, the Sponsors, and Kyivstar Group Ltd. have entered into a lock -upagreement (the “Seller Lock -upAgreement”), a copy of which is attached to this proxy statement/prospectus as Annex D. The Seller Lock -UpAgreement provides, among other things, for certain restrictions on the transfer of certain Kyivstar Group Ltd. Common Shares by the Seller (the “Seller Lock -upSecurities”) following the Closing, as further described below and subject to the terms and conditions set forth in the Seller Lock -upAgreement. Pursuant to the Seller Lock -upAgreement, effective at the Merger Effective Time, the Seller shall not Transfer (as defined in the Seller Lock -upAgreement) any of the Seller Lock -upSecurities until the earlier of: (i) the date that is 180 days following the Closing Date; (ii) the first date on which the Securities Price (as defined in the Seller Lock -upAgreement) meets or exceeds $13.50 for 20 Trading Days (as defined in the Seller Lock -upAgreement) out of any consecutive 30 Trading Days (but no earlier than the date that is 90 days after the Closing Date); and (iii) immediately prior to (but conditioned upon) the occurrence of a Liquidation Event (as defined in the Seller Lock -upAgreement), in each case except to a Permitted Transferee (as defined in the Seller Lock -upAgreement) as expressly permitted by the Seller Lock -upAgreement. 5

Ownership of Kyivstar Group Ltd. Following the Closing

|                                            |     |          Assuming no 
 redemptions scenario |     |               |     |         Assuming