Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 418

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 418
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3; v)VEON Holdings’ draft, unaudited financial statements for the calendar year ended December 31, 2024; vi)certain non -publicfinancial and business information provided to Northland by management of Cohen Circle, VEON Holdings, and their respective advisors; vii)certain internal financial information, estimates, and financial and operations forecasts for VEON Holdings, prepared by the management of VEON Holdings or Cohen Circle; viii) certain press releases issued by Cohen Circle and VEON Holdings; ix)certain industry and research reports; and x)(i) the reported historical price and trading activity for the securities of Cohen Circle, (ii) certain financial stock market information for Cohen Circle compared with certain other publicly traded companies, (iii) the financial terms of certain recent business combinations, and (iv) other studies and analyses it deemed appropriate. In addition, Northland held discussions with certain members of the management of Cohen Circle and VEON Holdings and certain of their respective advisors and representatives regarding the business, operations, financial condition and prospects of VEON Holdings, the Business Combination, and related matters. Northland also participated in financial and business diligence calls with executive management of Cohen Circle and VEON Holdings regarding, among other things, the business and financial results and outlook of VEON Holdings and the Business Combination structure and background. Northland also compared the financial and operating performance of VEON Holdings with companies with publicly traded equity securities that it deemed to be relevant. Northland also conducted such other analyses, examinations, and inquiries and considered such other financial, economic and market criteria as it deemed necessary and appropriate in arriving at its opinion. With the consent of the board of directors of Cohen Circle, and in connection with its review and analysis and in arriving at its opinion, Northland assumed and relied upon the accuracy and completeness of the financial and other information furnished to, discussed with, or otherwise made available to Northland or that was publicly available. Northland was not engaged to, and did not independently attempt to, verify any of such information. Northland did not conduct a physical inspection, valuation, or appraisal of any of the assets or properties of VEON Holdings, and Northland was not furnished with any such valuation or appraisal. The credit, financial, and stock markets have from time -to -timeexperienced unusual volatility, and Northland was not asked to and expressed no opinion or view as to any potential effects of such volatility on the Business Combination and did not address potential developments in any such markets. In addition, Northland