Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 326

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 326
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 passive infrastructure which the Company sold to an entity under common control and leased back.

F-72

VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 10PROPERTY AND EQUIPMENT (cont.) The Group recognized lease liabilities as follows as of December 31:

|                                        |     | 2024 |     | 2023 |
| Short-term lease liabilities (Note 14) |     |   78 |     |   74 |
| Long-term lease liabilities (Note 14)  |     |  216 |     |  207 |
| Total lease liabilities                |     |  294 |     |  281 |

Interest expense in 2024 of US$53 (2023: US$50) is included within finance costs. Total cash outflows for leases during 2024 amounted to US$82 (2023: US$74). COMMITMENTS Capital commitments for the future purchase of equipment are as follows as of December 31:

|                   |     | 2024 |     | 2023 |
| Less than 1 year  |     |   40 |     |   10 |
| Total commitments |     |   40 |     |   10 |

Capital commitments arising from telecommunications licenses Group’s ability to generate revenue is dependent upon the operation of the wireless telecommunications networks authorized under its various licenses for GSM -900/1800, “3G” (UMTS/WCDMA) mobile radiotelephone communications services and “4G” (LTE). Under the license agreements, operating companies are subject to certain commitments, such as territory or population coverage, level of capital expenditures and number of base stations to be fulfilled within a certain timeframe. If we are found to be involved in practices that do not comply with applicable laws or regulations, we may be exposed to significant fines, the risk of prosecution or the suspension or loss of our licenses, frequency allocations, authorizations or various permissions, any of which could harm our business, financial condition, results of operations or cash flows. After expiration of the license, our operating companies might be subject to additional payments for renewals, as well as new license capital and other commitments. ACCOUNTING POLICIES Property and equipment is stated at cost, net of any accumulated depreciation and accumulated impairment losses. Depreciation is calculated on a straight -linebasis over the estimated useful lives of the assets. The useful life of Group assets generally fall within the following ranges:

| Class of property and equipment |     | Useful life