Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 204

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 204
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 Kyivstar Group Ltd. is an “emerging growth company,” as defined in the JOBS Act, and the following is intended to comply with the scaled disclosure requirements applicable to emerging growth companies. 121 Kyivstar Executive Compensation For the purposes of this subsection, “Kyivstar” refers to the businesses of Pre -BusinessCombination Kyivstar Group. This section should be read in conjunction with VEON Holdings’ financial statements and related notes appearing elsewhere in this prospectus, along with the section entitled “ Certain Relationships and Related Party Transactions.” Compensation information included in the following section is presented in U.S. dollars. Under Bermuda law, Kyivstar is not required to disclose compensation paid to its senior management on an individual basis and Kyivstar has not otherwise publicly disclosed this information elsewhere. The compensation of Kyivstar’s senior managers has mainly consisted of salary, bonuses, equity -basedincentive awards and other compensation, as applicable. They also receive benefits in line with market practice in Ukraine. For the fiscal year ended December 31, 2024, the aggregate compensation expense for Kyivstar’s key management personnel, as defined under IAS 34 — comprising Kyivstar’s Chief Executive Officer and Kyivstar’s Chief Financial Officer — for services in all capacities was $5 million, which includes both benefits paid in kind and compensation, including share -basedcompensation. See Note 17 to our audited combined financial statements included elsewhere in this prospectus. Kyivstar does not have any pension, retirement or similar benefit plans available to its directors or senior managers, and we did not make any distributions to Kyivstar’s senior managers on termination of employment or any payments for pension obligations, early retirement arrangements or sabbaticals. Kyivstar Group Ltd. has not paid any compensation to its executive officers or members of the board of directors of Kyivstar Group Ltd. since March 7, 2025, the date of its inception. Kyivstar Group Ltd. has implemented a cash -based, short -termincentive plan as well as a share -based, long -termincentive plan (see “— Short -Term Incentive Plan”and “ Share -based Compensation Plan — Long -Term Incentive Plan” below). Any director of VEON who will also serve as a director on the Kyivstar Group Ltd. Board will waive any remuneration rights in relation to his or her service as a member of the Kyivstar Group Ltd. Board, and