Company: KYIV
Filing Date: 2025-07-22
Form Type: 424B3
Source: 0001213900-25-066705
Chunk: 567

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-22
Form: 424B3
Chunk 567
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3 relate to the sale of the passive infrastructure of sites to entities under common control in 2021 and the lease -backof those sites. COMPENSATION TO DIRECTORS AND SENIOR MANAGERS As VEON Holdings B.V. and Kyivstar are part of the Wider VEON Group, their operations are managed by Wider VEON Group Executive Committee (GEC) which includes the Group Chief Executive Officer, Group Chief Financial Officer and Group General Council of Wider VEON Group. Consequently, the Company considers the Wider VEON Group’s GEC, Kyivstar’s Chief Executive Officer and Kyivstar’s Chief Financial Officer to be the key management personnel, as defined by IAS24, Related Party Disclosures and finds it appropriate to disclose the compensation of the key management. The total key management remuneration for the year ended December 31, 2024 relating to GEC and Kyivstar’s key executives amounted to US$3 and US$5 (2023: US$3 and US$4), respectively. The management fee and the allocation may not be indicative of the expenses related to management remuneration that will incur in the following financial years. Under VEON Ltd.’s bye -laws, the Board of Directors of VEON Ltd. established a Remuneration and Governance Committee, which has the overall responsibility for approving and evaluating the compensation and benefit plans, policies and programs of the VEON’s directors, officers and employees and for supervising the administration of the VEON’s equity incentive plans and other compensation and incentive programs. Base salary includes any holiday allowances and acting allowances in cash pursuant to the terms of an individual’s employment agreement. Annual incentive expense includes amounts accrued under the cash portion of the short -termincentive in respect of performance during the current year, as well as any special recognition, performance and/or transaction bonuses. Other short -termemployee benefits include certain allowances (for example, pension allowance, car allowance, etc.), special awards, and support (for example, relocation support). ACCOUNTING POLICIES Short -termbenefits are expensed in the period when services are received. 18EVENTS AFTER THE REPORTING PERIOD VEON announces intention to list Kyivstar on Nasdaq in New York, signing of Letter of Intent and Business Combination Agreement with Cohen Circle On January 13, 2025 VEON Ltd., and Cohen Circle Acquisition Corp. I, a special purpose acquisition company, announced the signing of a letter of intent (“LOI”) to