Company: KYIV
Filing Date: 2025-08-15
Form Type: 20-F
Source: 0001213900-25-077507
Chunk: 20

Company: Kyivstar Group Ltd.
Filing Date: 2025-08-15
Form: 20-F
Item: Item 17
Chunk 20
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 consolidated subsidiaries.

Cautionary
Note Regarding Forward-Looking Statements

This Report and the information incorporated by
reference herein include certain “forward-looking statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can generally
be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,”
“expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will”
or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements
include all matters that are not historical facts. They appear in a number of places throughout this proxy statement/prospectus and include
statements regarding PubCo’s intentions, beliefs or current expectations concerning, among other things, results of operations,
financial condition, liquidity, prospects, growth, strategies, future market conditions or economic performance and developments in the
capital and credit markets and expected future financial performance, the markets in which PubCo operates as well as prospective financial
information and any information concerning possible or assumed future results of operations. Such forward-looking statements are based
on available current market material and management’s expectations, beliefs and forecasts concerning future events impacting PubCo.
Factors that may impact such forward-looking statements include:

  (i)        the outcome of any legal proceedings that may be instituted against PubCo;                   
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  (ii)       PubCo’s management of its business strategy and plans;                                       
  (iii)      changes in applicable laws or regulations;                                                   
  (iv)       general economic conditions;                                                                 
  (v)        factors relating to the business, operations and financial performance of PubCo, including:  

  risks relating to the ongoing war in Ukraine, such as its adverse impact on the economic conditions and                                      

  risks related to JSC Kyivstar’s ability to declare and pay dividends and restrictions on its ability                                     

  risks related to PubCo’s principal asset being its interest in JSC Kyivstar, and its dependence  
  on JSC Kyivstar for distributions, which may be restricted or prohibited;                        
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  risks related work stoppages and other labor matters, including mobilization