Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 569

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 569
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2024 |
| Kyivstar |     |             140 |     |   93 |     |                  51 |     |   25 |
| Total    |     |             140 |     |   93 |     |                  51 |     |   25 |

____________ *This includes capital expenditures on property, plant and equipment, net of advances, of US$85 (2024: US$40), intangible assets of US$9 (2024: US$9) after deducting additions in licenses of US$Nil (2024: US$Nil) and right -of -use assets of US$43 (2024: US$24).

F-99

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 2SEGMENT INFORMATION (cont.) The following table provides the reconciliation of Adjusted EBITDA to Profit before tax for the three -monthperiod ended March 31:

|                                  |     | 2025 |   |     | 2024 |   |
| Total Adjusted EBITDA            |     |  140 |   |     |   93 |   |
| Depreciation                     |     |  (31 | ) |     |  (31 | ) |
| Amortization                     |     |  (13 | ) |     |  (12 | ) |
| Impairment loss                  |     |   (2 | ) |     |   (1 | ) |
| Finance costs                    |     |  (21 | ) |     |  (21 | ) |
| Finance income                   |     |    7 |   |     |    8 |   |
| Other non-operating (loss)/gain  |     |   (1 | ) |     |    1 |   |
| Net foreign exchange (loss)/gain |     |  (21 | ) |     |    8 |   |
| Profit before tax                |     |   58 |   |     |   45 |   |

3INCOME TAXES Income tax expense is the total of the current and deferred income taxes. Current income tax is based on the estimated annual effective tax rate. Deferred income tax is the tax asset or liability resulting from a difference in income recognition between enacted or substantively enacted local tax law and group IFRS accounting. Income tax expense consisted of the following for the three -monthperiod ended March