Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 186

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 186
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800 tower sites. Approximately 1,000 additional sites were contemplated to be transferred to UTC in 2023, but restrictions on assets located on state or communal property related to the imposition of martial law in Ukraine caused the transaction to be put on hold. Subject to management and board approval, such sites may be transferred to UTC in the future once restrictions are lifted. We are the anchor tenant for almost all of UTC’s sites, with 524 of UTC’s owned sites being exclusive to us until the end of 2025. As of December 31, 2024, our tenancy ratio, which represents the proportion of our collocation agreements relative to the total available number of sites, was 1.17. UTC sites accounted for 55% of our network roll -outin the year ended December 31, 2024, and approximately 30 of UTC’s approximately 170 full time employees are dedicated to the Kyivstar account. Nevertheless, we maintain an arm’s -lengthrelationship with UTC via a series of principles and Material Lease Agreement (“MLA”) terms, including unified commercial pricing principles for all tenants. The MLA has an initial term of seven years, with subsequent renewal options for seven years each, each renewal being on an “all or nothing” basis, meaning the entire agreement must be accepted as a whole. The anchor tenant receives a 20% discount to the base anchor fee if a third -partytenant occupies part of the same side of the tower. There is also a volume discount of 30% when the total number of sites the tenant occupies is over 5,000. The payments are made monthly in arrear, and electricity is charged to the anchor tenant on a pass -throughbasis. 111 Plus TV LLC Beginning September1, 2025, our contractual and operating model for the Kyivstar TV service was revised, superseding the Agency Agreement No. 500156, dated November22, 2024, between us and Plus TV LLC, pursuant to which we acted as an agent for Plus TV LLC in respect of the Kyivstar TV service. The updated framework comprises: (i) a Service Agreement (the “Service Agreement”) under which the subscriber contracts directly with us for the provision of the Kyivstar TV content services; (ii) an Access Code Agreement, dated August 22, 2025, between us and Plus TV LLC (the “Access Code Agreement”), relating to the development and placement by Plus TV LLC of content packages on its software platform and the