Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 272

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 272
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zio ğlu. 132 Legal Proceedings As of the date of this proxy statement/prospectus, Kyivstar Group Ltd. was not party to any material legal proceedings. In the future, Kyivstar Group Ltd. may become party to legal matters and claims arising in the ordinary course of business, the resolution of which Kyivstar Group Ltd. does not anticipate would have a material adverse impact on its financial position, results of operations or cash flows. Properties Prior to the Business Combination, Kyivstar Group Ltd.’s assets only consist of Kyivstar Group Ltd.’s equity, currently held by VEON Amsterdam B.V. and recorded as Other current assets — related parties. Employees Prior to the Business Combination, Kyivstar Group Ltd. currently has no employees. 133 BUSINESS OF KYIVSTAR AND CERTAIN INFORMATION ABOUT KYIVSTAR Unless the context otherwise requires, all references in this section to “we,” “us,” “our,” or “Kyivstar” refer to VEON Holdings B.V. and its subsidiaries, including JSC Kyivstar, which are presented in the VEON Holdings B.V. audited combined financial statements included in this proxy statement/prospectus. Overview We are a telecommunications and digital business, operating Ukraine’s leading provider of mobile communication by number of subscribers and broadband services by number of access lines, as of December31, 2024. We provide mobile, digital and fixed -lineservices to over 23 million mobile customers and over 1.1 million broadband subscribers as of December 31, 2024. For the year ended December 31, 2024 and the three months ended March31, 2025, our profit for the period was $283million and $44million, respectively, and Adjusted EBITDA was $515million and $140million, respectively, reflecting our strong operational efficiency and continued profitability. In the same periods, our profit margin was 31% and 17%, respectively, and our Adjusted EBITDA Margin was 56% and 55%, respectively. Our margins and Adjusted EBITDA have remained strong through the war in Ukraine, due to our focus on customer retention and continuity of service during this period. See “ Kyivstar Management’s Discussion and Analysis of Financial Condition and Results of Operations of Kyivstar — Key Performance Indicators and Non -IF RS Financial Measures” for a discussion of the basis of the presentation of the financial statements of Kyivstar included elsewhere in this proxy statement/prospectus