Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 183

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 183
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 the Services; and (ii) we must exclusively order Services, including access codes, from Plus TV LLC, in each case subject to limited exceptions. The cost of the Services under the Access Codes Agreement is calculated depending on the number of access codes to content packages generated and provided by Plus TV LLC to us. The Access Codes Agreement expires on November30, 2029 and may be unilaterally terminated by either party in the event of a material breach that is not remedied within 30 days, or in exceptional circumstances justifying termination. If termination occurs on these grounds, the Service Agreement shall be deemed terminated 12 months from the date of the relevant termination notice. Under this revised framework, we control the specified service before it is transferred to subscribers and bear primary responsibility for its delivery. Our role therefore reflects that of a principal, with revenue recognized on a gross basis equal to the subscription fees charged to subscribers, while payments to Plus TV LLC for access codes and content -platformservices are recognized as cost of sales. Litigation and Other Proceedings At any given time, we may be a party to regulatory proceedings or litigation or be subject to non -litigatedclaims arising out of the normal operations of our businesses. Other than as described below, we are not currently a party to any material legal proceedings, including any such proceedings that are pending or threatened, of which we are aware. See “ Risk Factors — Risks Related to the Business and Industry of Kyivstar — Risks Related to Regulatory and Legal Matters — We are, and may in the future be, involved in, associated with, or otherwise subject to legal liability in connection with disputes and litigation with regulators, competitors and third parties, which when concluded, could harm our business.” For more information, please refer to Note 7 — Provisions and Contingent Liabilitiesof our audited combined financial statements included elsewhere in this prospectus. As is customary for large corporations, we undergo routine tax and customs audits. In 2016, a claim was filed by the Ukraine Tax Authority alleging an additional charge of taxes and penalties resulting from a tax audit on our accounts for the years 2009 to 2014 as a result of our contractual relationship with Private Enterprise Wholesale Company Elbrus (“Elbrus”). The total claim by the tax authority amounts to approximately $33.9 million, and the case is pending in the court of first instance, awaiting the outcome of the criminal case against the ex -CEOof Elbrus. 112 Freezing and Unfreezing of