Company: KYIV
Filing Date: 2025-09-30
Form Type: F-1/A
Source: 0001213900-25-093621
Chunk: 144

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-30
Form: F-1/A
Chunk 144
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 currencies). The exchange rates for foreign currencies, in which our financial assets and liabilities were denominated, against Ukrainian hryvnia, as declared by the NBU as of the dates and periods stated, are as follows:

| (in millions)     
 December 31, 2023 
 Average for 2024  |     |    USD 
 37.982 
 40.159 |     |    EUR 
 42.208 
 43.459 |
|:------------------|:----|-------:|:----|-------:|
| December 31, 2024 |     | 42.039 |     | 43.926 |
| June 30, 2025     |     | 41.641 |     | 48.782 |

The following table demonstrates the sensitivity to a possible change in exchange rates against the U.S. dollar and euro with all other variables held constant. Additional sensitivity changes to the indicated currencies are expected to be approximately proportionate. The tables show the effect on our profit before tax (due to changes in the value of monetary assets and liabilities, including foreign currency derivatives). Our exposure to foreign currency changes for all other currencies is not material.

| As of December 31, 2024         |     |       Increase/ 
 (decrease) in % |     |         Increase/ 
     (decrease) of 
 profit before tax |   |     |      Increase/ 
  (decrease) of 
 net investment |   |
|:--------------------------------|:----|----------------:|:----|------------------:|:--|:----|---------------:|:--|
| Change in USD exchange rate     |     |          +10.00 |     |                34 |   |     |             28 |   |
| Change in the EUR exchange rate |     |          +10.00 |     |                11 |   |     |              9 |   |
| Change in USD exchange rate     |     |           -1.00 |     |                (3 | ) |     |             (3 | ) |
| Change in the EUR exchange rate |     |           -1.00 |     |                (1 | ) |     |             (1 | ) |

85 Liquidity risk Liquidity risk is the risk we encounter in meeting the obligations associated with our financial liabilities. We analyze the aging of our assets and the maturity of our liabilities and plan our liquidity depending on the expected repayment of various instruments.