Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 346

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 346
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 combined financial statements. The put -optionredemption liability is measured at the discounted redemption amount. Interest over the put -optionredemption liability will accrue in line with the effective interest rate method, until the options have been exercised or are expired.

15CASH AND CASH EQUIVALENTS

Cash and cash equivalents are held for the purpose of meeting short-term cash commitments rather than for investment or other purposes. Cash and cash equivalents are comprised of cash at bank and on hand and highly liquid investments that are readily convertible to known amounts of cash, are subject to only an insignificant risk of changes in value and have an original maturity of less than three months.

Cash and cash equivalents consisted of the following items as of December 31:

|                                                                                 |     | 2024 |     | 2023 |
| Cash and cash equivalents at banks and on hand                                  |     |  479 |     |  320 |
| Cash equivalents with original maturity of less than three months               |     |  195 |     |  105 |
| Cash and cash equivalents, as presented in the combined statement of cash flows |     |  674 |     |  425 |

Cash at banks held by Kyivstar amounting to US$ (2023: US$) earns interest based on bank deposit rates. Short-term deposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.

Cash and cash equivalents at banks and on hand include cash of US$ (2023: US$) retained by the Company in accordance with the demerger proposal and an estimated amount of US$ (2023: US$) to cover the repayment of the 2025 Notes.

Cash equivalents with original maturity of less than three months comprise cash equivalents of US$ (2023: US$) at Kyivstar.

The imposition of currency exchange controls or other similar restrictions on currency convertibility in Ukraine could limit the Group’s ability to convert local currencies or repatriate local cash in a timely manner or at all, as well as remit dividends.

As of December 31, 2024, US$(2023: US$) of cash held by Kyivstar in Ukraine was subject to currency restrictions that limited ability to upstream the cash or make certain payments outside the country, but these balances are otherwise freely available to the Ukrainian operations.

The overdrawn accounts are presented as debt and derivatives within the statement