Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 10

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 10
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 and executive compensation after the Closing have not yet been made; •the fact that the Business Combination Agreement provides for the continued indemnification of some of Cohen Circle’s existing directors and officers and the continuation of our directors’ and officers’ liability insurance after the Business Combination; and •the fact that Kyivstar Group Ltd. will enter into a registration rights agreement with Cohen Circle’s initial shareholders, which provides for customary registration rights to them. At the Closing, the Sponsors are expected to hold an aggregate of at leastKyivstar Group Ltd. Common Shares, consisting of (i)Kyivstar Group Ltd. Common Shares which will be received in exchange for Cohen Circle Class B Ordinary Shares, and (ii)Kyivstar Group Ltd. Common Shares to be converted from working capital loans with the Sponsors. In connection with the Closing, the Sponsors are expected to forfeit all of their Cohen Circle private placement warrants (excluding Cohen Circle placement warrants underlying the units that may be issued upon conversion of the working capital loans with Cohen Circle). The Sponsors did not, and will not receive any cash compensation during the ordinary course of managing Cohen Circle or in connection with the Business Combination, with the exception of payments made for office space, utilities and shared personnel support services. The reimbursements to be paid to the Sponsors and their respective directors, officers and affiliates (if any), the compensation paid to the Sponsors for office space, administrative and shared personnel support services pursuant to the administrative services agreement and the repayment of working capital loans made by the Sponsors to the SPAC and/or the conversion of such working capital loans into Kyivstar Group Ltd. Common Shares may result in a material dilution to the equity interests of non -redeemingshareholders.

The independent directors of Cohen Circle currently do not hold any Cohen Circle Class B Ordinary Shares. At the Closing, the independent directors of Cohen Circle are expected to holdKyivstar Group Ltd. Common Shares. The following table sets forth the amount of consideration received or to be received by (1) the Seller, (2) Cohen Circle Public Shareholders, (3) the holders of Cohen Circle Public Warrants and (4) the Sponsors in connection with the Business Combination, in each case, assuming no redemptions, 50% redemptions and maximum redemptions, which assumes the minimum balance required of $50 million, and in each scenario, assumes a per share value of $10.35. Unless otherwise specified, the share amounts have been determined under the assumptions