Company: KYIV
Filing Date: 2025-09-30
Form Type: F-1/A
Source: 0001213900-25-093621
Chunk: 139

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-30
Form: F-1/A
Chunk 139
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) investing activities |     |              128 |   |     |       (194 | ) |     |         (132 | ) |     |         (327 | ) |
| Net cash flows used in financing activities        |     |             (618 | ) |     |        (14 | ) |     |          (37 | ) |     |          (88 | ) |
| Net foreign exchange difference                    |     |                9 |   |     |         (7 | ) |     |          (12 | ) |     |           (5 | ) |
| Cash and cash equivalents at beginning of period   |     |              674 |   |     |        425 |   |     |          425 |   |     |          432 |   |
| Cash and cash equivalents at end of period         |     |              458 |   |     |        410 |   |     |          674 |   |     |          425 |   |

Net cash flows from operating activities Net cash flows from operating activities increased by $65 million, or 32.5%, from $200 million for the six months ended June 30, 2024 to $265 million for the six months ended June 30, 2025. This increase was driven by the “customer appreciation program” deployed in the six months ended June 30, 2024 at a value of $46 million, which lowered revenue due to the provision of a discount on one month of services to affected customers, enabling higher year -on -yeargrowth in the six months ended June 30, 2025. Net cash flows from operating activities increased by $17 million, or 4.1%, from $413 million for the year ended December 31, 2023 to $430 million 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 cyberattack in December 2023. Net cash flows from/(used in) investing activities Net cash flows from investing activities increased by $322 million, or 166.0%, from an outflow of $194 million for the six months ended June 30, 2024 to an inflow $128 million for the six months ended June 30, 2025. This increase was driven by higher cash inflows from the loans granted ($364 million inflow), partially offset by higher capex, including expenditures on property, plant and