Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 340

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 340
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 |     |   Year ended 
 December 31, 
         2024 |     |   Year ended 
 December 31, 
         2023 |
|:-------------------------------------------|:----|-----------------:|:----|-------------:|:----|-------------:|:----|-------------:|
|                                            |     | -USD in millions |     |              |     |              |     |              |
| Purchases of property, plant and equipment |     |               85 |     |           40 |     |          237 |     |          207 |
| Purchases of intangible assets             |     |                9 |     |            9 |     |           94 |     |           50 |
| Less: Additions in licenses                |     |                — |     |            — |     |           35 |     |            — |
| Less: Right-of-use assets                  |     |               43 |     |           24 |     |           75 |     |          102 |
| Capex excl. licenses and ROU               |     |               51 |     |           25 |     |          221 |     |          155 |

Adjusted EBITDA, Adjusted EBITDA Margin and Capex excl. licenses and ROU are non -IFRSfinancial measures that are used by our management to measure and evaluate our internal operating performance. The components of Adjusted EBITDA include the key revenue and expense items for which our operating managers are responsible and

173

upon which their performance is evaluated. However, a limitation of the use of Adjusted EBITDA as a performance measure is that it does not reflect the periodic costs of certain capitalized tangible and intangible assets used in generating revenue or the need to replace capital equipment over time. The components of Capex excl. licenses and ROU include core capital expenditures. However, a limitation of the use of Capex excl. licenses and ROU as a performance measure is that it does not capture long -livedassets acquired in business combinations. We may incur future expenses similar to those excluded when calculating Adjusted EBITDA, Adjusted EBITDA Margin and Capex excl. licenses and ROU. In addition, our presentation of these measures should not be construed as an inference that our future results will not be affected by unusual or non -recurringitems. Key Performance Indicators

|                                    |     |   | Three months 
        ended 
    March 31