Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 158

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 158
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, we signed an agreement to acquire 97% shares in Uklon LTD (Cyprus) with Uklon UZ, as a wholly owned subsidiary, 96.99% participation interest in LLC Tech Uklon (UA) and LLC Uklon Corporate (UA) (collectively, “Uklon”). Uklon is a leading Ukrainian ride -hailingand delivery platform, which operates in 28 cities across Ukraine and unites more than 100,000 driver -partnerson the platform. Uklon has facilitated over 100 million rides and more than three million deliveries in 2024. In 2023, Uklon entered the deliveries business and expanded its operations into Uzbekistan. The transaction closed in April 2025. The total consideration for the acquisition of shares in Uklon was $158 million, which was paid in several tranches in Ukrainian hryvnia. Increase in share of Helsi On May 7, 2025, we increased our share in Helsi from 69.99% to 97.99%. The transaction was made in line with our digital operator strategy. Following the transaction, Helsi will retain its current management model. Dutch Statutory Demerger of VEON Holdings B.V. and Consent Solicitation under the 2027 Bonds In order to facilitate the Business Combination, on January 13, 2025, VEON Holdings filed the Demerger Proposal with the Dutch Trade Register of the Chamber of Commerce to isolate VEON Holdings’ interests in Kyivstar and its subsidiaries and certain other select assets and liabilities. The Demerger closed on April 8, 2025. At the consummation of the Demerger, VEON Holdings’ interests in all of its other subsidiaries was transferred to one of two newly formed subsidiaries of the Seller, outside of the Pre -BusinessCombination Kyivstar Group, by operation of law. VEON Holdings ceased to own or be legally responsible for such entities, assets or liabilities. Except for the 2025 Bonds, the Old Bonds and the Business Combination Agreement and select other assets, liabilities and contracts as specified in the Demerger Proposal, all other assets, liabilities and employees were transferred out of VEON Holdings, and any contracts were transferred to one of the two aforementioned newly formed entities. With respect to the 2025 Bonds, the Demerger Proposal provided that the 2025 Bonds would remain at VEON Holdings until their respective maturity dates,