Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 274

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 274
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 Ltd. Warrants and therefore do not represent a liability assumed but are included in the calculation of the consideration transferred.

127

F2.The net assets of Cohen Circle in the 50% redemption scenario are calculated consistently with the no redemption scenario and also include a reduction of cash totaling approximately $119 million, which represents the redemption of Cohen Circle Class A Ordinary Shares. Reflects the 50% redemption of 11,500,000 Cohen Circle Class A Ordinary Shares for aggregate redemption payments of $119 million. The redemption price is calculated at a redemption price of $10.35 per Cohen Circle Class A Ordinary Share. The unaudited pro forma condensed combined statement of financial position reflects this payment as a reduction to cash and cash equivalents of $119 million with a corresponding decrease to issued capital. F3.The net assets of Cohen Circle in the maximum redemption scenario are calculated consistently with the no redemption scenario and also includes a reduction of cash totaling approximately $186 million, which represents the redemption of Cohen Circle Class A Ordinary Shares. Reflects the maximum redemption of 17,948,375 Cohen Circle Class A Ordinary Shares for aggregate redemption payments of approximately $186 million. The redemption price is calculated at a redemption price of $10.35 per Cohen Circle Class A Ordinary Share. The unaudited pro forma condensed combined statement of financial position reflects this payment as a reduction to cash and cash equivalents of $186 million with a corresponding decrease to issued capital. Cohen Circle fair value

| USD in millions, except share and per share data                                                         |     | Per Share 
 value     |       |     | Scenario 1 Assuming 
      No Redemptions 
              Shares |     | Fair  
 Value |     |   |     | Scenario 2 Assuming 
     50% Redemptions 
              Shares |     | Fair  
 Value |      |   |     | Scenario 3 Assuming 
 Maximum Redemptions 
              Shares |     | Fair  
 Value |      |   |
|:---------------------------------------------------------------------------------------------------------|:----|:----------|------:|:----|--------------------:|:----|:------|----:|:--|:----|--------------------:|:----|:------|-----:|:--|:----|--------------------:|:----|:------|-----:|:--|
| Class A*                                                                                                 |     | $         | 10.80 |     |          28,027,500 |     | $     | 303 |   |     |          16,527,500 |