Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 25

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 25
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 Agreements.” |
| Dividend policy                                                                                                      |     | The Company has not paid any cash dividends on its equity securities to date. The payment of any cash dividends will be within the discretion of the Kyivstar Group Ltd. Board. It is currently not expected that the Kyivstar Group Ltd. Board will declare any dividends in the foreseeable future. Further, the ability of the Company to declare dividends may be limited by the terms of financing or other agreements entered into by the Company or its subsidiaries from time to time. The Company has not identified a paying agent in relation to any payment of cash dividends. See “Dividend Policy.” |

7

| Risk factors                 |     | Investing in our Common Shares involves a high degree of risk. See “Risk Factors” and other information included in this prospectus for a discussion of factors you should carefully consider before deciding to invest in our Common Shares. |
| Market for our Common Shares |     | Our Common Shares are listed on Nasdaq under the symbol “KYIV.”                                                                                                                                                                               |

8 Risk Factors You should carefully consider the risks described below before making an investment decision. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. Our business, financial condition or results of operations could be materially and adversely affected by any of these risks. The trading price and value of our Common Shares could decline due to any of these risks, and you may lose all or part of your investment. This prospectus also contains forward -looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward -looking statements as a result of certain factors, including the risks faced by us described below and elsewhere in this prospectus. The following discussion should be read in conjunction with the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” the consolidated financial statements and accompanying notes thereto included in this prospectus. Risks Related to the Business and Industry of Kyivstar Risks Related to the War in Ukraine We have experienced, and may continue to experience, disruptions to our business, financial conditions and results of operation as a result of the war, including due to increased operating costs and damage to network infrastructure and assets. The ongoing war in Ukraine is having, and will continue to have, an impact on our business, financial condition, results of operations, cash flows and business prospects. As a leading telecommunications provider in Ukraine, we have been adversely impacted by the war in Ukraine. We expect to continue to face challenges