Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 95

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 95
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 broadband, cloud services, big data, digital TV, digital health and other services, we may encounter a greater number of competitors that provide similar services; •the liberalization of the regulations in Ukraine could greatly increase competition; •competitors may operate more cost -effectivelyor have other competitive advantages such as greater financial resources, market presence and network coverage, stronger brand name recognition, higher customer loyalty and goodwill and more control over domestic transmission lines; •current or future relationships among our competitors and third parties may restrict our access to critical systems and resources; •reduced demand for bundled services could impact our future profitability; •competition from OTT players offering similar functionality to us may increase, including digital providers offering voice over internet protocol (“VoIP”) calling, internet messaging and other digital services which compete with our telecommunications services; •our competitors may offer integrated customer experiences, or may choose to develop OTT services, which may increase the competition we are facing; and Investing in frontier markets, where our operations are located, is subject to greater risks than investing in more developed markets. Our operations are located in Ukraine, which is a frontier market. Following the closing of our acquisition of Uklon, a ride -hailingand delivery platform, we will also have operations in Uzbekistan. Uzbekistan is also a frontier market. Investors should fully appreciate the significance of the risks involved in investing in a Ukrainian -basedcompany and are urged to consult with their own legal, financial and tax advisors. In Ukraine, the government and judiciary have historically exercised broad discretion and are susceptible to the rapid reversal of political and economic policies, especially as a result of the war in Ukraine. See “— Risks Related to the War in Ukraine — We may face the risk of nationalization or confiscation of our operations and assets.” Furthermore, Ukraine poses a high risk of potential violations of the U.S. Foreign Corrupt Practices Act (“FCPA”) and other anti -corruptionlaws, based on measurements such as Transparency International’s Corruption Perception Index. The political and economic relations of Ukraine are often complex and have resulted, as in the current war between Russia and Ukraine, and may in the future result in wars, which could materially harm our business, financial condition, results of operations, cash flows or prospects. The Ukrainian market is also vulnerable to market downturns and economic slowdowns in the global economy. As has happened in the past, a slowdown in the global economy or an increase in the perceived risks associated with investing in frontier economies could dampen foreign investment in Ukraine and materially