Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 113

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 113
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 $7 million. This is a nonrecurring item. CC.To reflect the elimination of interest income generated from the investments held in the Trust Account. DD.To reflect the estimated grant date fair value of the Vesting Securities, and related share -basedcompensation expense, as described in pro forma adjustments E and AA. This is a nonrecurring item. EE.To reflect the elimination of interest expense in connection with the April 2025 and June 2025 bonds and interest income in connection with Loan receivable from VEON Amsterdam as follows: EE1. The elimination of net foreign exchange gain of $12 million EE2. The elimination of interest expense of $25 million EE3. The elimination of interest income earned on the Loan receivable from VEON Amsterdam of $19 million 4 . Pro forma Share and Earnings per Share Information The pro forma earnings per share calculation represents the earnings per share attributable to shareholders calculated using the pro forma basic and diluted weighted average shares outstanding of Kyivstar Group Ltd. as a result of the pro forma adjustments to reflect the Business Combination as occurring on January 1, 2024. The calculation of pro forma weighted average shares outstanding for basic and diluted net profit attributable to shareholders per share reflects that the shares issued in connection with the Business Combination have been outstanding for the entire period presented and the Business Combination occurring on January 1, 2024, the beginning of the most recent annual period 64

presented with this prospectus. Potentially dilutive outstanding securities, such as the Kyivstar Group Ltd. Warrants, were excluded from the computation of pro forma net income per share, basic and diluted, because their effect would have been anti -dilutive. As the Transactions are being reflected as if they had occurred at the beginning of the period presented, the calculation of weighted average Kyivstar Group Ltd. Common Shares outstanding for basic and diluted net profit for the period per share assumes that the shares issuable relating to the Transactions have been outstanding for the entire period presented. Proforma earning per share

|                                                        |     | As of and for the six-month period Ended June 30, 2025 |     |                    |     |            |     |          |             |
|:-------------------------------------------------------|:----|:-------------------------------------------------------|:----|-------------------:|:----|:-----------|:----|:---------|------------:|
| USD in millions, except share and per share data       |     | VEON                                                   
 Holdings BV                                            
 (Kyivstar