Company: KYIV
Filing Date: 2025-04-18
Form Type: DRS
Source: 0001213900-25-033341
Chunk: 274

Company: Kyivstar Group Ltd.
Filing Date: 2025-04-18
Form: DRS
Chunk 274
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 or 2027 Bonds, as applicable, as eligible holders of Old Bonds come forward. The Old Bonds will continue to be obligations of VEON Holdings until the earlier of (i) the applicable maturity dates thereunder and (y) such time as an eligible holder of an Old Bond comes forward to claim payment, if applicable, or, with respect to the Old 2027 Bonds prior to the maturity date thereunder, exchange his, her or its Old 2027 Bonds for a 2027 Bond issued by the applicable newly formed entity of the VEON Group. However, pursuant to the Business Combination Agreement, VEON Ltd. is obligated to fund Kyivstar Group Ltd. with any and all amounts needed to repay the claims of the holders of the Old Bonds and VEON Holdings does not have any legal or financial liability to repay such claims following the closing of the Demerger. 136 The Demerger was subject to a 30 -daycreditor objection period according to the Dutch demerger statute. Such 30 -dayperiod elapsed and a “no objection” letter was received by VEON Holdings from the Dutch judicial system in February 2025. On April8, 2025, VEON Holdings consummated the Demerger pursuant to the terms of the Demerger Proposal, following completion of closing documentation. Mobile Telecommunications Services Mobile Services Through our operating company Kyivstar JSC and our brand Kyivstar, we provide mobile connectivity services on 2G, 3G and 4G/LTE networks. We offer a variety of mobile services, including voice, messaging and wireless internet access, on a prepaid and postpaid basis. We also offer bundles that include combinations of voice, SMS, mobile data, OTT services and swappable telecommunications and non -telecommunicationsbenefits. As of December 31, 2024, approximately 76% of our B2C mobile customers were on prepaid plans. Our revenue from voice services comes from airtime charges from mobile prepaid and postpaid customers, including monthly contract fees for a predefined amount of voice traffic and roaming fees for airtime charges when customers travel abroad. In December 2020, we were the first mobile operator in Ukraine to launch Voice over LTE (“VoLTE”) technology for calls via 4G over network. As of December31, 2023, 3.4 million of our subscribers were using the technology, and as of December 31, 2024, we had approximately six million subscribers using Vo