Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 343

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 343
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 out of which US$ were fully and timely repaid.

DEBT AND DERIVATIVES

The Company holds the following outstanding debt and derivatives liabilities as of December 31:

|                                                |     | Carrying value |     |      |
|                                                |     |           2024 |     | 2023 |
| At discounted redemption amount                |     |                |     |      |
| Put option liability                           |     |              9 |     |   11 |
| Total at discounted redemption amount          |     |              9 |     |   11 |
| At amortized cost                              |     |                |     |      |
| Bonds                                          |     |            585 |     |  597 |
| Interest accrued on Bonds                      |     |              6 |     |    5 |
| Loans received from subsidiaries of the Parent |     |              — |     |    4 |
| Lease liabilities                              |     |            294 |     |  281 |
| Total at amortized cost                        |     |            885 |     |  887 |
| Total debt and derivatives                     |     |            894 |     |  898 |
| Non-current                                    |     |            225 |     |  815 |
| Current                                        |     |            669 |     |   83 |

At discounted redemption amount

This represents Helsi put-option liability amounting to US$ (2023: US$) measured at the discounted redemption amount. Refer to Note 1 and Note 11for further details in relation to the Helsi acquisition.

F-77

VEON Holdings B.V.
GENERAL INFORMATION ABOUT THE GROUP 14INVESTMENTS, DEBT AND DERIVATIVES (cont.)

At amortized costs

As of December 31, 2024, bonds represent the principal amounts outstanding for two interest-bearing 2025 Notes. One bond is denominated in U.S. Dollars and matures on , with a principal outstanding amount of US$ (2023: US$) and an interest rate of %. The other bond is denominated in Russian Ruble (“RUB”), with an outstanding amount of US$ (RUB9,040) (2023: US$ (RUB9,040)), maturing on . The bond denominated in RUB carries an interest rate of %. Refer to Note 14, Note 15 and Note 16 for details on bond repayments.

In June 2022, the Group