Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 307

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 307
---
 | % |     |        700 |
|                                  |     |  100.000 | % |     | 13,095,262 |

As of December 31, 2024, JSC Kyivstar had three subsidiaries — Helsi, Kyivstar.Tech and Lan Trace.

Interest held by the Company in its principal subsidiaries as of December 31 is disclosed below:

|                     |     |     2024 |   |     |            |     |     2023 |   |     |            |
| Name                |     | Interest |   |     | Country of 
 operation  |     | Interest |   |     | Country of 
 operation  |
| LLC “Kyivstar.Tech” |     |  100.000 | % |     | Ukraine    |     |  100.000 | % |     | Ukraine    |
| LLC “Helsi Ukraine” |     |   69.990 | % |     | Ukraine    |     |   69.990 | % |     | Ukraine    |
| LLC “Lan Trace”     |     |  100.000 | % |     | Ukraine    |     |        — |   |     | —          |

In August 2022, JSC Kyivstar acquired a controlling share of Helsi Ukraine, an entity in the IT e-health sector. Initial cash consideration paid for the % interest in Helsi Ukraine amounted to US$.

In September 2024, JSC Kyivstar entered into a share-purchase agreement to acquire % of the equity interests of LLC “Lan Trace”, an entity who provides internet and TV services in the city of Boryspil and 17 other towns within the Kyiv region, Ukraine to expand its digital portfolio. The preliminary purchase price, which is subject to adjustment, was US$.

In the combined financial statements subsidiary undertakings — which are those companies in which the Group directly or indirectly, has an interest of more than half of the voting rights or otherwise has power to exercise control over the operations — have been fully consolidated.

The functional currency of Kyivstar is Ukrainian Hryvnia (“UAH”), the currency of the primary economic environment in which Kyivstar operates. The combined financial statements are presented in United States dollars (“U.S. dollar” or “US$”). In these Notes, U.S. dollar amounts are presented in millions, except for share amounts and as otherwise indicated.

Due to