Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 330

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 330
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     |          (37 | ) |     |          (88 | ) |
| Net foreign exchange difference                  |     |                4 |   |     |           (3 | ) |     |          (12 | ) |     |           (5 | ) |
| Cash and cash equivalents at beginning of period |     |              674 |   |     |          425 |   |     |          425 |   |     |          432 |   |
| Cash and cash equivalents at end of period       |     |              712 |   |     |          395 |   |     |          674 |   |     |          425 |   |

Net cash flows from operating activities Net cash flows from operating activities increased by $45million, or 54.2%, from $83million for the three months ended March31, 2024 to $128million for the three months ended March31, 2025. This increase was driven by the “customer appreciation program” deployed in the three months ended March31, 2024 at a value of $46million, which lowered revenue due to the provision of a free month of services to affected customers, enabling higher year -on-yeargrowth in the three months ended March31, 2025. Net cash flows from operating activities increased by $17million, or 4.1%, from $413 million for the year ended December 31, 2023 to $430million for the year ended December 31, 2024. This increase was driven by predominantly by lower operating cash inflows in 2024 due to the effects of the cyber attack in December 2023.

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Net cash flows used in investing activities Net cash flows used in investing activities decreased by $39million, or 37.9%, from $103million for the three months ended March31, 2024 to $64million for the three months ended March31, 2025. This decrease was driven by higher cash inflows from maturity of government bonds ($57million increase), partially offset by higher capex, including expenditures on property, plant and equipment and intangible assets ($18million increase). Net cash flows used in investing activities decreased by $195million, or 59.6%, from $327 million for the year ended December 31, 2023 to $132million for the year ended December 31, 2024. This decrease was driven by higher cash inflows from maturity of government bonds ($293million increase),