Company: KYIV
Filing Date: 2025-08-07
Form Type: 424B3
Source: 0001213900-25-072861
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Company: Kyivstar Group Ltd.
Filing Date: 2025-08-07
Form: 424B3
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Filed Pursuant to Rule 424(b)(3)
Registration No. 333-287802

PROSPECTUS SUPPLEMENT No. 1
(to prospectus dated July 22, 2025 )

<div align='center'>KYIVSTAR GROUP LTD.

UP TO 23,000,000 COMMON SHARES

UP to 7,666,667 WARRANTS TO PURCHASE COMMON SHARES

up to 7,666,667 common shares underlying warrants</div>

This prospectus supplement updates, amends and
supplements the prospectus dated July 22, 2025 (the “Prospectus”) which forms a part of our Registration Statement on Form
F-4 (Registration Statement No. 333-287802). This prospectus supplement is being filed to update, amend and supplement the information
previously included in the Prospectus with the information attached to this prospectus supplement.

This prospectus supplement updates, amends and
supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination
with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the
Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely
on the information in this prospectus supplement.

Our common shares are expected to be listed on
the Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “KYIV.” Our warrants are expected to be listed on Nasdaq
under the symbol “KYIVW.”

Investing in our securities involves a high degree of risk. See “ Risk Factors” beginning on page 22 of the Prospectus for a discussion of information that should be considered in connection with an investment in our securities.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.

<div align='center'>The date of this prospectus supplement is August
7, 2025.

Kyivstar Group Reports Second Quarter 2025 Trading Update</div>

| ● | Total operating revenue, including the first-time consolidation                                                       
 of Uklon, reaches USD 284 million or UAH 11.8 billion, up 20.9% year-on-year in USD and 25.9% in local currency terms |

| ● | Profit for