Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 41

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 41
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 forth in Annex Gto this proxy statement/prospectus. The Kyivstar Group Ltd. Board will be responsible for guiding Kyivstar Group Ltd.’s business and affairs and overseeing management. Kyivstar Group Ltd.’s management team will be derived from Kyivstar Group’s existing employees and members of senior management appointed in connection with the Business Combination, who will be responsible for the execution of the combined business’s strategy. Please see the section entitled “ Management of Kyivstar Group Ltd. After the Business Combination” for more information. Q: What are the possible sources and the extent of dilution that the Public Shareholders that elect not to redeem their shares will experience in connection with the Business Combination and related transactions ? A:The following tables show varying pro forma voting power and implied ownership levels and the net tangible book value per share for Public Shareholders who elect not to redeem their shares in connection with the Business Combination and related transactions, assuming no redemptions, 50% redemptions and maximum redemptions not subject to non -redemptioncommitments pursuant to the Non -RedemptionAgreements (which assumes satisfaction of the minimum balance required of $50million by way of such commitments), and in each scenario, assuming a per share value of $10.35. Share ownership under each redemption scenario is only presented for illustrative purposes. Cohen Circle cannot predict how many of its Public Shareholders will exercise their right to have their Public Shares redeemed for cash. As a result, the amount of cash paid to redeeming shareholders and the number of Cohen Circle Class A Ordinary Shares redeemed in connection with the Business Combination may differ from the amounts presented below. As such, the ownership percentages of the Seller, the Public Shareholders, the Sponsors, holders of Cohen Circle Public Warrants, and other shareholders may also differ from the presentation below if the actual redemptions are different from these assumptions.

|                                                 |     |          Assuming no 
 redemptions scenario |     |            |   |     |         Assuming 50% 
 redemptions scenario |     |            |   |     |     Assuming maximum 
 redemptions scenario |     |            |   |
|                                                 |     |            Number of 
               Shares |     | Percent of 
     Shares |   |     |            Number of 
               Shares |     | Percent of 
     Shares |   |     |            Number of 
               Shares |     | Percent of 
     Shares |   |
| VEON Amsterdam B.V.                             |     |