Company: KYIV
Filing Date: 2025-06-05
Form Type: 425
Source: 0001213900-25-051648
Chunk: 1

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: 425
Chunk 1
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      | 186 |     |     | 37.1 | % |     |              | 10.6 |     |      | 7.1 |     |     | 49.6 | % |
| Profit for the period |     |              |  44 |     |      |  36 |     |     | 22.2 | % |     |              |  1.8 |     |      | 1.4 |     |     | 33.7 | % |
| Adj. EBITDA1          |     |              | 140 |     |      |  93 |     |     | 50.5 | % |     |              |  5.8 |     |      | 3.6 |     |     | 64.6 | % |

Average UAH/USD exchange rates: 1Q25: 41.7563 UAH/USD; 1Q24: 38.1727 UAH/USD

End-of period UAH/USD exchange
rates as of March 31, 2025: 41.4787 UAH/USD; as of March 31, 2024: 39.2214 UAH/USD

| 1 | For more information, see section titled “Presentation                                                                                 
 of Non-IFRS Financial Measures” at the end of this press release, including the reconciliations of non-IFRS measures to IFRS measures. |

“Kyivstar Group continues to deliver exceptional
value to our customers and stakeholders, leveraging our market-leading network and innovative digital services to drive growth,”
said Oleksandr Komarov, CEO of Kyivstar Group. “Our first quarter results reflect the strength of our digital operator strategy,
delivering robust financial growth. In parallel, we continue to invest in strategic opportunities that drive Ukraine’s digital future,
such as the acquisition of Uklon and increasing our stake in Helsi. We are excited to complement this operational performance with the
continued progress towards our plans to list Kyivstar Group on the Nasdaq Stock Market.”

First Quarter 2025 Financial and Operational Highlights

| ● | Robust Revenue Growth: Total operating revenue for 1Q25 was USD 255 million, up 37.1% year-on-year                                     
 in USD and 49.6% year-on-year in local currency terms. This result includes the impact of the customer appreciation program undertaken 
 by the Company