Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 413

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 413
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 proceeds from SPAC Merger    |     |    132 |   |

F-143

Kyivstar Group Ltd. Notes to the interim condensed consolidated financial statements (in millions of U.S. dollars unless otherwise stated) 4SIGNIFICANT TRANSACTIONS (cont.)

The following table summarizes the impact to the Statement of Equity related to the SPAC Merger on August 14, 2025:

|                                                                                      |     |  Number of 
     shares |     | Amount |   |
| Shares issued to SPAC public investors (at US$12.70/share)                           |     | 17,152,985 |     |    218 |   |
| Shares issued to SPAC non-redeeming shareholders (at US$12.70/share)                 |     |    757,745 |     |     10 |   |
| Shares issued to SPAC sponsor and Cantor (at US$12.70/share)                         |     |  4,686,515 |     |     60 |   |
| Shares issued to SPAC sponsor – Sponsor vesting shares, Tranche 1 (at US$8.70/share) |     |    661,919 |     |      6 |   |
| Shares issued to SPAC sponsor – Sponsor vesting shares, Tranche 2 (at US$8.10/share) |     |    661,919 |     |      5 |   |
| SPAC Merger equity issued                                                            |     | 23,921,083 |     |    298 |   |
| Kyivstar Group professional fees                                                     |     |            |     |    (30 | ) |
| SPAC Merger equity issued, net of transaction costs                                  |     |            |     |    268 |   |

Listing expense

As discussed above, as the SPAC Merger was accounted for in accordance with IFRS 2, the difference in the fair value of the shares deemed to have been issued by the Company, and the fair value of the Cohen Circle’s identifiable net assets represented a service received by the Company, and thus was recognized as an expense upon consummation of the SPAC Merger.

Upon Closing, the excess fair value of the equity interests deemed to have been issued to Cohen Circle as consideration over the fair value of Cohen Circle’s identifiable net assets was recognized as a listing expense in the amount of US$ in the condensed consolidated income statement for the period ended September