Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 329

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 329
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spectus. Our primary sources of liquidity are the cash flow generated by our operations. We believe that this liquidity structure allows us to sustain fluctuations in cash flow development. Liquidity inflows and outflows of business entities are monitored and coordinated centrally by our corporate treasury department. For the three months ended March31, 2025, our cash and cash equivalents included cash of $10million retained by VEON Holdings in accordance with the Demerger and $213million held by VEON Holdings to cover the estimated repayment of the 2025 Bonds in combination with the related party loan receivable due from VEON Amsterdam B.V. For the year ended December 31, 2024, our cash and cash equivalents included cash of $10 million retained by VEON Holdings in accordance with the Demerger and $235 million held by VEON Holdings to cover the estimated repayment amount of the 2025 Bonds. On April9, 2025, VEON Holdings repaid the April 2025 Bonds for $472million. Cash Flows The following table summarizes our cash flow statements for the three months ended March31, 2025 and 2024 and the years ended December 31, 2024 and 2023.

|                                                  |     |     Three months 
            ended 
        March 31, 
             2025 |   |     | Three months 
        ended 
    March 31, 
         2024 |   |     |   Year ended 
 December 31, 
         2024 |   |     |   Year ended 
 December 31, 
         2023 |   |
|:-------------------------------------------------|:----|-----------------:|:--|:----|-------------:|:--|:----|-------------:|:--|:----|-------------:|:--|
|                                                  |     | -USD in millions |   |     |              |   |     |              |   |     |              |   |
| Net cash flows from operating activities         |     |              128 |   |     |           83 |   |     |          430 |   |     |          413 |   |
| Net cash flows used in investing activities      |     |              (64 | ) |     |         (103 | ) |     |         (132 | ) |     |         (327 | ) |
| Net cash flows used in financing activities      |     |              (30 | ) |     |           (7 | ) |