Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 570

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 570
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     |  (30 | ) |     |   (7 | ) |
| Net increase/(decrease) in cash and cash equivalents                  |     |      |     |   34 |   |     |  (27 | ) |
| Net foreign exchange difference                                       |     |      |     |    4 |   |     |   (3 | ) |
| Cash and cash equivalents at beginning of period                      |     |      |     |  674 |   |     |  425 |   |
| Cash and cash equivalents at end of period                            |     |    8 |     |  712 |   |     |  395 |   |

The accompanying notes are an integral part of these interim condensed combined financial statements.

F-91 VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) GENERAL INFORMATION ABOUT THE GROUP 1GENERAL INFORMATION VEON Holdings B.V. ( “VEON Holdings”, the “Company”), was established as a private company with limited liability under the laws of the Netherlands on June 29, 2009. The registered office and principal place of business of VEON Holdings B.V. is located at Claude Debussylaan88, 1082 MD Amsterdam, the Netherlands. The entity is an indirectly wholly -ownedsubsidiary of VEON Ltd. (“ Parent”). On January 13, 2025, VEON Ltd. announced its intention to indirectly list JSC Kyivstar, including its subsidiaries as listed below (in aggregate “ Kyivstar”), VEON’s digital operator in Ukraine, on the Nasdaq Stock Market (“Nasdaq”) in the United States (the “ Transaction”). As part of the preparation for the indirect listing, VEON undertook a pre -transactionreorganization of VEON Holdings (the “Reorganization”). This Reorganization was consummated through a Dutch legal demerger, as a result of which VEON Holdings, which remains domiciled in the Netherlands, holds only Kyivstar and its subsidiaries and certain other select assets and liabilities. The Reorganization was completed on April 8, 2025. The interim condensed combined financial statements (“ CFS”) have been prepared in accordance with the basis of preparation and accounting policies set out in this Note below. The interim condensed combined financial statements were authorized by the VEON Board of Directors for issuance on June 24, 2025. The interim condensed combined financial statements presented herein reflect the