Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 836

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 836
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 not constitute a recommendation to any member of the Board or any stockholder of Cohen Circle as to how such director or stockholder should act or vote regarding the Transaction or any other matter. Notwithstanding the foregoing, the Board may rely upon the Opinions. The Opinions delivered to the Board are subject to the conditions, scope of engagement, limitations, and understandings in this letter and in the Engagement Letter. The Opinions address solely the fairness, from a financial point of view , to Cohen Circle of the consideration paid by Cohen Circle to the equityholders of the Company pursuant to the Business Combination Agreement and the aggregate fair market value of the Company. We were not requested to opine as to, and the Opinions do not address, the basic business decision of the Board, Cohen Circle, or its stockholders to proceed with or effect the Transaction, or any solvency or fraudulent conveyance consideration relating to the Transaction. We express no opinion as to the relative merits of the Transaction as compared to any alternative business strategies or transactions that might exist for Cohen Circle or any other party or the effect of any other transaction in which Cohen Circle or any other party might engage. We express no opinion as to the amount, nature or fairness of any consideration or compensation to be received in or because of the Transaction by securityholders, officers, directors, or employees of the Company, or any other class of such persons, or relative to or in comparison with the consideration to be paid by Cohen Circle to the equityholders of the Company pursuant to the Business Combination Agreement. We have not been asked to consider, and the Opinions do not address, the solvency or viability of Cohen Circle to pay its obligations when they come due. We are not rendering any financial, legal, accounting, or other advice and understand that Cohen Circle is relying on its legal counsel and accounting advisors as to legal and accounting matters in connection with the Transaction. We have not been requested to, and did not, (i) participate in negotiations regarding the Business Combination Agreement, (ii) solicit any expressions of interest from any other parties regarding any business combination with Cohen Circle or any other alternative transaction or (iii) advise the Board or any other party regarding alternatives to Annex H-3

the Transaction. In addition, we were not requested to and did not provide advice regarding the structure or any other aspect of the Transaction, or to provide services other than the delivery of the Opinions. In the ordinary course of our business, we and our affiliates may actively trade securities of Cohen Circle for