Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 393

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 393
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) 180 days after the Closing; or (b) such time as the stock price meets or exceeds US$13.50 for 20 out of any 30 consecutive trading days (but no earlier than 90 days following the Closing)). Furthermore, 1,323,838 Kyivstar Group Ltd. Common Shares issued to the Sponsor will only vest with respect to: a.661,919shares (“Sponsor vesting shares, Tranche 1”), on the date the stock price meets or exceeds US$15.00 for 20 out of any 30 consecutive trading days within two years following the Closing; and b.661,919shares (“Sponsor vesting shares, Tranche 2”), on the date the stock price meets or exceeds US$20.00 for 20 out of any 30 consecutive trading days within five years of the Closing, and If the hurdles are not achieved under (a) and/or (b) above, such shares will be forfeited by the Sponsor. The Sponsor vesting shares represent a potential contingent payment arrangement with the Sponsor and are considered a share -basedpayment under IFRS 2. The vesting is based on a market condition, linked to the Company’s share price. There is no service condition attached to the vesting of the shares. As a result, this condition is considered to be a non -vestingcondition rather than a market condition. The non -vestingcondition was taken into account when estimating the grant date fair value of the vesting shares issued. The IFRS 2 fair value of the Sponsor vesting shares was immediately expensed as part of the listing expense in the income statement. As the Sponsor vesting shares are classified as equity -settledshare -basedpayment, there is no subsequent remeasurement of these shares. F-142

Kyivstar Group Ltd. Notes to the interim condensed consolidated financial statements (in millions of U.S. dollars unless otherwise stated) 4SIGNIFICANT TRANSACTIONS (cont.) The Company utilized a Monte Carlo simulation model to determine the fair value of the Sponsor vesting shares. The use of the Monte Carlo simulation model required the Company to make estimates and assumptions, such as expected volatility, expected term and risk -freeinterest rate which were based on the best information available to management at the time of closing. Warrants At the Closing, each of the 7,666,629 issued and outstanding Cohen Circle warrants were automatically surrendered and exchanged for 7,666,629 Kyiv