Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 588

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 588
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 Kyivstar Group, being listed on Nasdaq.

F-105 VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 12EVENTS AFTER THE REPORTING PERIOD (cont.) Bond repayments VEON Holdings B.V. repaid all of its 4.0% April 2025 U.S. Dollar denominated Notes (US$472) and 6.3% June 2025 Russian Ruble denominated Notes (US$100 (RUB7,840)), on April9, 2025 and June18, 2025, respectively, utilizing the proceeds from the partial settlement of the VEON Amsterdam loan receivable (US$330) and the remaining from cash and cash equivalents. Kyivstar increases ownership stake in Helsi In May 2025, Kyivstar and LLC “UKRAINIAN INVESTMENT PLATFORM”, representing 26.9% ownership together with other minority stakeholders representing 1.1% ownership in Helsi, negotiated an agreement to buy out the ownership stake of these parties for US$11. Simultaneously the parties also terminated the existing put and call option agreements to the extent representing the stake of these parties, resulting in partial derecognition of the put option liability. At the same time Kyivstar agreed the terms for the remaining 2.01% shareholders on the terms of the originally entered put and call option agreement. 13NEW STANDARDS, INTERPRETATIONS AND AMENDMENTS ADOPTED BY THE GROUP The accounting policies adopted in the preparation of these interim condensed combined financial statements are consistent with those followed in the preparation of the Group’s audited annual combined financial statements as of and for the year ended December 31, 2024. Certain new and amended standards became effective as of January 1, 2025, which did not have a material impact on the Group’s condensed combined interim financial statements. The Group has not early adopted any standards, interpretations or amendments that have been issued but have not yet become effective. Amsterdam, June 24, 2025 VEON Holdings B.V. F-106 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Board of Directors of Kyivstar Group Ltd. Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated statement of financial position of Kyivstar Group Ltd. (the “Company”), as of March 31, 2025, the related consolidated statement