Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 130

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 130
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 launched in December 2024. Fixed revenue includes fixed -termtariff plans and monthly subscriptions. Fixed revenue increased by $5 million, or 14%, from $35 million for the nine months ended September 30, 2024 to $40 million for the nine months ended September 30, 2025. This increase was driven by customer base modernization that allowed us to focus on higher value customers. Digital revenue includes multiple high -qualityapplications and modern enterprise solutions. Digital revenue increased by $59 million, or over 390%, from $15 million for the nine months ended September 30, 2024 to $74 million for the nine months ended September 30, 2025. This increase was driven by the first -timeconsolidation of Uklon, our ride -hailingservice, enterprise solutions development, further penetration of Helsi, our digital health services business, and paying base growth and content development of our entertainment application, Kyivstar TV. Other revenue contributed 0.3% for the nine months ended September30, 2024 and 0.4% of total revenue for the nine months ended September30, 2025. Service costs Service costs increased by $7 million, or 9.5%, from $74 million for the nine months ended September 30, 2024 to $81 million for the nine months ended September 30, 2025. This increase was due to higher interconnection traffic and rates impact on costs, higher cost of content (Kyivstar TV) and other direct cost (cloud services). Selling, general and administrative expenses Selling, general and administrative expenses increased by $58 million, or 26.2%, from $221 million for the nine months ended September 30, 2024 to $279 million for the nine months ended September 30, 2025. This increase was driven by an increase in technology expenses ($17 million) as a result of higher electricity tariffs, frequency fee indexation and additional frequencies acquired; higher human resources costs ($27 million) net of works capitalization; higher consulting

74 and professional services costs ($6 million) and higher media and marketing costs ($8 million). This increase was also attributable to the initial consolidation of Uklon’s financials, which included human resources costs of $15 million net of own works capitalized, media and marketing costs of $7 million and other costs of $4 million, together contributing approximately 12 percentage points to our 26.2% period