Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 547

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 547
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 customers consisted of the following as of December 31:

|                                                         |     | 2024 |     | 2023 |
| Deferred revenue                                        |     |   30 |     |   23 |
| Advances received from customers                        |     |    7 |     |    7 |
| Total liabilities arising from contracts with customers |     |   37 |     |   30 |

ACCOUNTING POLICIES Revenue from contracts with customers Service revenue Service revenue includes revenue from airtime charges from contract/postpaid and prepaid customers, monthly contract fees, interconnect revenue, roaming charges and charges for value added services ( “VAS”). VAS includes short messages, multimedia messages, caller number identification, call waiting, data transmission, mobile internet, downloadable content, mobile finance services, machine -to -machineand other services. The content revenue relating to VAS is presented net of related costs when Kyivstar’s performance obligation is to arrange the provision of the services by another party (Kyivstar acts as an agent), and gross when Kyivstar is primarily responsible for fulfilling the obligation to provide such services to the customer. Revenue for services with a fixed term, including fixed -termtariff plans and monthly subscriptions, is recognized on a straight -linebasis over time. For pay -as - you-useplans, in which the customer is charged based on actual usage, revenue is recognized on a usage basis. Some tariff plans allow customers to rollover unused services to the following period. For such tariff plans, revenue is generally recognized on a usage basis.

F-58 VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 3OPERATING REVENUE (cont.) For contracts which include multiple service components (such as voice, text, data), revenue is allocated based on stand -aloneselling price of each performance obligation. The stand -aloneselling price for these services is usually determined with reference to the price charged per service under a pay -as - you-useplan to similar customers. Upfront fees, including activation or connection fees, are recognized on a straight -linebasis over the contract term. For contracts with an indefinite term (for example, prepaid contracts), revenue from upfront fees is recognized over the average customer life. Revenue from other operators, including interconnect and roaming charges, is recognized based on the price specified in the contract, net of any estimated retrospective volume discounts. Accumulated experience is used to estimate and provide for the discounts. All service revenue is recognized over time as services are rendered when