Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 567

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 567
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 |     |            |
| Name                |     | Interest |   |     | Country of 
 operation  |     | Interest |   |     | Country of 
 operation  |
| LLC “Kyivstar.Tech” |     |  100.000 | % |     | Ukraine    |     |  100.000 | % |     | Ukraine    |
| LLC “Helsi Ukraine” |     |   69.990 | % |     | Ukraine    |     |   69.990 | % |     | Ukraine    |
| LLC “Lan Trace”     |     |  100.000 | % |     | Ukraine    |     |        — |   |     | —          |

In August 2022, JSC Kyivstar acquired a controlling share of Helsi Ukraine, an entity in the IT e -healthsector. Initial cash consideration paid for 69.99% share in Helsi Ukraine amounted to US$15. In September 2024, JSC Kyivstar entered into a share -purchaseagreement to acquire 100% of the equity interests of LLC “Lan Trace”, an entity who provides internet and TV services in the city of Boryspil and 17 other towns within the Kyiv region, Ukraine to expand its digital portfolio. The preliminary purchase price, which is subject to adjustment, was US$2. In the interim condensed combined financial statements subsidiary undertakings — which are those companies in which the Group directly or indirectly, has an interest of more than half of the voting rights or otherwise has power to exercise control over the operations — have been fully consolidated. The functional currency of Kyivstar is Ukrainian Hryvnia (“ UAH”), the currency of the primary economic environment in which Kyivstar operates. The interim condensed combined financial statements are presented in United States dollars ( “U.S. dollar”or “US$”). In these Notes, U.S. dollar amounts are presented in millions, except for share amounts and as otherwise indicated. Due to the ongoing war between Russia and Ukraine, material uncertainties have been identified that may raise substantial doubt on the Company’s ability to continue as a going concern which are discussed in detail below. BASIS OF COMBINATION The interim condensed combined financial statements as of and for the period ended March 31, 2025 and 2024 present the VEON Group. These CFS have been prepared in accordance with International Accounting Standards (“IAS”) 34 Interim Financial