Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 45

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 45
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991,570 |     |              |   219,991,570 |     |             |   219,991,570 |

Q: What are the material U.S. federal income tax consequences of the Business Combination to the U.S. Holders and non -U .S. Holders (each as defined herein) of Cohen Circle Class A Ordinary Shares? A:A U.S. holder (as defined herein) that owns only Cohen Circle Class A Ordinary Shares, and exchanges such shares in the Merger for Kyivstar Group Ltd. Common Shares generally is expected not to recognize any gain or loss in respect of such exchange for U.S. federal income tax purposes, as the Merger, the Sale and any PIPE Investments, collectively, are expected to constitute a transaction qualifying under Section 351(a) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”). A U.S. Holder that owns only Cohen Circle Public Warrants and exchanges such securities in the Merger for Kyivstar Group Ltd. Warrants generally is expected to recognize gain or loss on such exchange for U.S. federal income tax purposes, measured by the excess of the fair market value of the Kyivstar Group Ltd. Warrants received over the U.S. Holder’s aggregate adjusted basis in the Cohen Circle Public Warrants exchanged therefor. A U.S. Holder that owns Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants and exchanges such securities in the Merger for Kyivstar Group Ltd. Common Shares and Kyivstar Group Ltd. Warrants may recognize gain (if any) on such transaction to the extent of the lesser of (1) the excess of the fair market value of

xix such Kyivstar Group Ltd. Common Shares and Kyivstar Group Ltd. Warrants over the aggregate adjusted basis of such U.S. Holder in its Cohen Circle Class A Ordinary Shares and Cohen Circle Public Warrants, and (2) the aggregate fair market value of the Kyivstar Group Ltd. Warrants. If the deemed transfer of Cohen Circle Class A Ordinary Shares and/or Cohen Circle Public Warrants also qualifies as part of a “reorganization” within the meaning of Section 368 of the Code, a U.S. holder of Cohen Circle Public Warrants (whether held in connection with Cohen Circle Class A Ordinary Shares or otherwise) generally should not recognize any gain or loss on any such deemed transfer of Cohen Circle Public Warrants, and such U.S. holder’s basis in the Kyiv