Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 381

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 381
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 statements may not be indicative of the Company’s future performance, financial position, or cash flows. Specifically, for all periods prior to the close of the Capital Reorganization the condensed combined financial statements were prepared using the carve -outprinciples described in VEON Holdings audited annual combined financial statements. Subsequent to the closing, the interim condensed consolidated financial statements are now prepared based on the actual results of the consolidated group. The functional currency of Kyivstar is Ukrainian Hryvnia (“UAH”), the currency of the primary economic environment in which Kyivstar operates. The interim condensed consolidated financial statements are presented in United States dollars (“U.S. dollar” or “US$”). In these Notes, U.S. dollar amounts are presented in millions, except for share amounts and as otherwise indicated. F-132

Kyivstar Group Ltd. Notes to the interim condensed consolidated financial statements (in millions of U.S. dollars unless otherwise stated) 1GENERAL INFORMATION (cont.) FOREIGN CURRENCY TRANSLATION For the purpose of these interim condensed consolidated financial statements, the assets and liabilities measured in the functional currency are translated into U.S. dollars at exchange rates prevailing on the balance sheet date, whereas income and expenses are generally translated into U.S. dollars at historical monthly average exchange rates. Foreign currency translation adjustments resulting from the process of translating financial statements into U.S. dollars are reported in other comprehensive income and accumulated within a separate component of Equity. BASIS OF CONSOLIDATION The interim condensed consolidated financial statements comprise the financial statements of the Company and its subsidiaries. Subsidiaries are all entities (including structured entities) over which the Company has control. Interests held by Kyivstar Group in its principal subsidiaries as of September 30:

|                                                 |     |     2025 |   |     |                |     |     2024 |   |     |            |
| Name                                            |     | Interest |   |     | Country of     
 operation      |     | Interest |   |     | Country of 
 operation  |
| LLC Kyivstar.Tech                               |     |   100.00 | % |     | Ukraine        |     |   100.00 | % |     | Ukraine    |
| LLC Helsi Ukraine*                              |     |    97.99 | % |     | Ukraine        |     |    69.99 | % |     | Ukraine    |
| LLC Lan Trace                                   |     |   100.00 | % |     | Ukraine        |