Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 368

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 368
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star has not otherwise publicly disclosed this information elsewhere. The compensation of Kyivstar’s executive officers has mainly consisted of salary, bonuses, equity -basedincentive awards and other compensation, as applicable. They also receive benefits in line with market practice in Ukraine. For the fiscal year ended December 31, 2024, the aggregate compensation expense for Kyivstar’s executive officers for services in all capacities was $, which includes both benefits paid in kind and compensation, including share -basedcompensation. See Note 17 to our audited combined financial statements included elsewhere in this proxy statement/prospectus. For the fiscal years ended December 31, 2024 and 2023, Kyivstar did not pay any compensation to the members of the board of directors of Kyivstar Group Ltd. In connection with the Business Combination, Kyivstar Group Ltd. expects to implement a director compensation program for certain non -employeedirectors. The program is expected to consist of both cash and equity -basedincentive compensation. For the financial year ended December 31, 2024, no payments were made to any officers of Kyivstar Group Ltd., and the aggregate remuneration paid to executive officers and directors for services rendered to Kyivstar in all capacities was $. Kyivstar does not have any pension, retirement or similar benefit plans available to its directors or senior managers, and we did not make any distributions to Kyivstar’s senior managers on termination of employment or any payments for pension obligations, early retirement arrangements or sabbaticals. Employment Agreements Kyivstar has entered into employment agreements with its executive officers. These employment agreements are governed by the laws of the Netherlands. Each of our executive officers is employed for an indefinite period unless we or the executive officer gives prior written notice to terminate such employment. The employment agreements provide for the compensation that Kyivstar’s executive officers are entitled to receive. Equity Incentive Plan A management equity incentive plan reflecting the terms agreed in the Business Combination Agreement to be entered into after Closing in such form as may be mutually agreed among Kyivstar Group Ltd., VEON Holdings and Cohen Circle will be filed as an Exhibit to this proxy statement/prospectus. 200 DESCRIPTION OF Kyivstar Group Ltd. SECURITIES A summary of the material provisions governing the Kyivstar Group Ltd. share capital immediately following the completion of the Business Combination is described below. This summary is not complete and should be read together with the Kyivstar Group Ltd. Governing Documents