Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 377

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 377
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| Balance as of June 30   |     |  118 |     |   14 |

Impairment losses The Company did not identify any indicators of impairment during the six -monthperiods ended June 30, 2025, and 2024. Accordingly, no impairment losses were recognized during these periods. FINANCING ACTIVITIES OF THE GROUP 7INVESTMENTS, DEBT AND DERIVATIVES The Company holds the following investments and derivative assets:

|                                           |     | June 30, 
     2025 |     | December 31, 
         2024 |
|:------------------------------------------|:----|---------:|:----|-------------:|
| At fair value                             |     |          |     |              |
| Other financial assets – VEON Ltd. shares |     |        — |     |            8 |
|                                           |     |        — |     |            8 |
| At amortized cost                         |     |          |     |              |
| Loan receivable from VEON Amsterdam B.V.  |     |       41 |     |          363 |
| Investments and derivatives               |     |       94 |     |           94 |
| Security deposits and cash collateral     |     |       87 |     |           64 |
| Other investments                         |     |        7 |     |           30 |

At fair value Other financial assets — VEON Ltd. shares as of December 31, 2024 of US$8, represented 5,024,175 ordinary shares of VEON Ltd. (the ultimate Parent of the Group) measured at fair value through other comprehensive income. During the six -monthperiod ended June 30, 2025, the Company further purchased 12,346,225 ordinary shares of VEON Ltd. for US$22. The financial asset was measured at fair value, impacting other comprehensive income by US$2. All VEON Ltd. ordinary shares held by VEON Holdings were transferred to VEON Amsterdam B.V. in March 2025 at fair value (US$32) resulting in a receivable from VEON Amsterdam B.V. Subsequently, these receivables from VEON Amsterdam B.V. were utilized in the repayment of bonds. At amortized cost Loan receivable from VEON Amsterdam reflects a related party loan receivable to cover potential future repayments of Bonds mentioned in this section below. Security deposits and cash collateral consisted of funds held in the account