Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 88

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 88
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 context of “de -SPACtransactions.” Volatility in the share price of our securities or other reasons may in the future cause us to become the target of securities litigation or shareholder activism. Securities litigation and shareholder activism, including potential proxy contests, could result in substantial costs and divert our management’s attention and resources from our business. 42 Additionally, such securities litigation and shareholder activism could give rise to perceived uncertainties as to our future, adversely affect our relationships with customers and make it more difficult to attract and retain qualified personnel. Also, we may be required to incur significant legal fees and other expenses related to any securities litigation and activist shareholder matters. Further, the price of our securities could be subject to significant fluctuation or otherwise be adversely affected by the events, risks and uncertainties of any securities litigation and shareholder activism. Furthermore, we and our subsidiaries have been and will continue to be subject to a number of regulations due to the nature of our business operations and our jurisdiction. We and our subsidiaries may be subject to regulatory actions, including the potential assessment of penalties, to the extent JSC Kyivstar and VEON have not historically complied, or we or our subsidiaries in the future do not comply, with one or more regulatory requirements to which we or our subsidiaries may have been, or may in the future be, subject. To the extent we or one of our subsidiaries is required to pay any fees or penalties as a result of noncompliance with regulatory requirements, the impact of such payment may have an adverse effect on our business, financial condition or results of operations. The only principal asset of Kyivstar Group Ltd. is its interest in JSC Kyivstar. Kyivstar Group Ltd. is a holding company and has no material assets other than its interests in JSC Kyivstar and its subsidiaries and accordingly, absent external funding, Kyivstar Group Ltd. will depend on distributions from JSC Kyivstar to pay its debts and other obligations. Kyivstar Group Ltd. is not expected to have independent means of generating revenue or cash flow, and its ability to pay taxes and operating expenses, as well as dividends in the future, if any, will be dependent upon the financial results and cash flows of JSC Kyivstar. There can be no assurance that JSC Kyivstar will generate sufficient cash flow to distribute funds to Kyivstar Group Ltd., or that contractual restrictions, applicable law or regulations will allow for such distributions. For example, restrictions applicable in Ukraine to all foreign -ownedcompanies have already led to restrictions on