Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 187

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 187
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 provision of access codes to us (the “Services”); and (iii) a License Agreement, dated August22, 2025, pursuant to which Plus TV LLC licenses its software platform to us. Under the revised framework, we are responsible for delivering the Kyivstar TV service to subscribers, including setting and amending tariffs, managing billing and collections, providing first -linecustomer support, and exercising the right to suspend or terminate services in case of non -payment. We also independently determine the commercial structure of the offering, including whether services are sold stand -aloneor within bundled tariff plans. Plus TV LLC has been repositioned as a supplier that provides us with content and platform services, rather than as a principal to the subscriber. Under the Access Codes Agreement, we pre -orderand prepay for access codes used to activate content packages, assuming both inventory risk (including the risk of unsold codes) and credit risk irrespective of subscriber activation. Plus TV LLC remains responsible for maintaining the content catalogue, operating the technical platform, and ensuring compliance with intellectual property and regulatory requirements; however, it does not interact directly with subscribers, nor does it control pricing or commercial terms for Kyivstar TV. The Access Codes Agreement includes exclusivity provisions, under which: (i) Plus TV LLC must act as our exclusive partner in Ukraine for the Services; and (ii) we must exclusively order Services, including access codes, from Plus TV LLC, in each case subject to limited exceptions. The cost of the Services under the Access Codes Agreement is calculated depending on the number of access codes to content packages generated and provided by Plus TV LLC to us. The Access Codes Agreement expires on November30, 2029 and may be unilaterally terminated by either party in the event of a material breach that is not remedied within 30 days, or in exceptional circumstances justifying termination. If termination occurs on these grounds, the Service Agreement shall be deemed terminated 12 months from the date of the relevant termination notice. Under this revised framework, we control the specified service before it is transferred to subscribers and bear primary responsibility for its delivery. Our role therefore reflects that of a principal, with revenue recognized on a gross basis equal to the subscription fees charged to subscribers, while payments to Plus TV LLC for access codes and content -platformservices are recognized as cost of sales. Litigation and Other Proceedings At any given time, we may be a party to regulatory proceedings or litigation or be subject to non -litigatedclaims arising out of the normal operations of our businesses