Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 379

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 379
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 equivalents consisted of the following items:

|                                                                                 |     | June 30, 
     2025 |     | December 31, 
         2024 |
|:--------------------------------------------------------------------------------|:----|---------:|:----|-------------:|
| Cash and cash equivalents at banks and on hand                                  |     |      288 |     |          479 |
| Cash equivalents with original maturity of less than three months               |     |      170 |     |          195 |
| Cash and cash equivalents, as presented in the combined statement of cash flows |     |      458 |     |          674 |

Cash at banks held by Kyivstar amounting to US$280 (2024: US$234) earns interest based on bank deposit rates. Short -termdeposits are made for varying periods between one day and three months, depending on immediate cash requirements and earn interest at the respective short -termdeposit rates. Additionally, cash at banks held by VEON Holdings amounts to US$8 (2024: US$245). The decrease in cash and cash equivalents at banks and on hand is primarily due to repayment of bonds (as disclosed in Note 7). Cash and cash equivalents with original maturity of less than three months amounting to US$170 (2024: US$195) comprise short -termdeposits and sovereign Ukrainian bonds held by Kyivstar. The imposition of currency exchange controls or other similar restrictions on currency convertibility in Ukraine could limit the Group’s ability to convert local currencies or repatriate local cash in a timely manner or at all, as well as remit dividends. 9DIVIDENDS AND CAPITAL DISTRIBUTIONS There were no dividends paid or capital distributions paid during the six -monthperiod ended June 30, 2025 and June 30, 2024, respectively. ADDITIONAL INFORMATION 10RELATED PARTIES The immediate parent and the ultimate controlling shareholder of the Company is VEON Amsterdam B.V. and VEON Ltd., respectively. Related parties, as defined by IAS24, are natural persons or companies that can be influenced by VEON Holdings, that can exert an influence on VEON Holdings or that are under the influence of another related party of VEON Holdings. Transactions with related parties were conducted at arm’s length.

F-110

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 10RELATED PARTIES (cont.) The following table provides the total