Company: KYIV
Filing Date: 2025-06-05
Form Type: 425
Source: 0001213900-25-051631
Chunk: 15

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: 425
Chunk 15
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24 Q1'25 75 85 95 107 121 91 141 2020 2021 2022 2023 2024 Q1'24 Q1'25 Consistent growth in monthly ARPU 1 … Driven by multiplay penetration 2 and superior service quality 9 8% 13% 15% 18% 29% Multiplay as a % of total users 2 Monthly ARPU (period - avg), UAH Source: VEON, Kyivstar Notes: 1. ARPU – Average revenue per user 2. Multiplay as a % of total active Kyivstar one - month subscriber base in December of respective year (unique active subscribers over one - month period) 3. Translated to US$ based on period - average official US$/UAH FX rate: 2020 – 26.96; 2021 – 27.29; 2022 – 32.34; 2023 – 36.57; 2024 – 40.16, Q1’24 – 38.20, Q1’25 – 41.76 Multiplay users have Voice + 4G data >100 Mb + at least one app ( Helsi , Kyivstar TV, My Kyivstar) US$ 3 Total multiplay users (monthly active users, eop), m +60% +8% 2.9 3.0 2.8 3.1 2.9 2.4 3.4 20% 29% +41% +54% Y - o - y ARPU growth in Q1‘25 includes the impact of customer loyalty measures taken in Q1’24 following a cyber security incident at the end of 2023

14.8 13.9 13.0 12.7 12.0 12.0 11.0 10.9 10.6 10.1 8.8 6.0 3.2 3.0 Slovenia Hungary Croatia Latvia Estonia Czechia Slovakia Serbia Bulgaria Lithuania Poland Romania Moldova Ukraine Source: GSMA, IMF Notes: 1. Estimated as average of Q1 - Q4 2024 monthly ARPU across all MNOs in selected countries as per GSMA (in US$) 2. 2024 International Monetary Fund (IMF) estimate, per IMF October 2024 WEO