Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 115

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 115
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 was 31% and 4% (including the impact of the one -timelisting expense of $162million for the nine months ended September30, 2025, which lowered our profit margin by 19 percentage points), respectively, and our Adjusted EBITDA Margin was 56% and 57%, respectively. Our margins and Adjusted EBITDA have remained strong through the war in Ukraine, due to our focus on customer retention and continuity of service during this period. See “— Key Performance Indicators and Non -IFRS Financial Measures” for a discussion of the basis of the presentation of the financial statements of Kyivstar included elsewhere in this prospectus and a description of our non -IFRSfinancial measures. We were founded in 1994 under the name “Bridge,” and we were one of the first mobile networks in Ukraine. We initially focused on mobile services and, throughout the 2000s, we broadened our offerings by investing in mobile data services and modernizing our infrastructure to support the rollout of 3G and later 4G LTE networks. In 2005, already a leader in the Ukrainian telecom market, we were acquired by VEON (formerly VimpelCom). We operate three related business lines: mobile telecommunications services, fixed -linetelecommunications services and digital, which accounted for 92% and 5% and 2% of our revenue for the year ended December 31, 2024, respectively, and approximately 86%, 5% and 9% of our revenue for the nine months ended September 30, 2025, respectively. Other revenue contributes 0.3% and 0.4% for respective periods. In our mobile telecommunications services business, we provide mobile services, including voice, messaging and wireless internet. In our digital services business, we provide (i) big data and technology services via our technology company, Kyivstar.Tech, (ii) a suite of self -serviceoptions through our self -serviceapp, MyKyivstar, (iii) digital health services through Helsi and (iv) digital TV content on the Kyivstar TV platform in partnership with PLUS TV LLC. In our fixed -linetelecommunications services business, we provide voice, data and internet services, including corporate internet access, fixed -linetelephone, data transmission and fixed -mobileconvergence, as well as internet -TVvia FTTB network connections. We provide services both to individual retail customers (our