Company: KYIV
Filing Date: 2025-06-24
Form Type: F-4/A
Source: 0001213900-25-057315
Chunk: 342

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-24
Form: F-4/A
Chunk 342
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 rates against the U.S. dollar and euro with all other variables held constant. Additional sensitivity changes to the indicated currencies are expected to be approximately proportionate. The tables show the effect on our profit before tax (due to changes in the value of monetary assets and liabilities, including foreign currency derivatives). Our exposure to foreign currency changes for all other currencies is not material.

| As of December 31, 2024         |     |       Increase/ 
 (decrease) in % |     |         Increase/ 
     (decrease) of 
 profit before tax |   |     |      Increase/ 
  (decrease) of 
 net investment |   |
|:--------------------------------|:----|----------------:|:----|------------------:|:--|:----|---------------:|:--|
| Change in USD exchange rate     |     |          +10.00 |     |                34 |   |     |             28 |   |
| Change in the EUR exchange rate |     |          +10.00 |     |                11 |   |     |              9 |   |
| Change in USD exchange rate     |     |           -1.00 |     |                (3 | ) |     |             (3 | ) |
| Change in the EUR exchange rate |     |           -1.00 |     |                (1 | ) |     |             (1 | ) |

Liquidity risk Liquidity risk is the risk we encounter in meeting the obligations associated with our financial liabilities. We analyze the aging of our assets and the maturity of our liabilities and plan our liquidity depending on the expected repayment of various instruments. Our short -termand long -termliquidity needs are funded largely through cash flow from operating activities. Total financial liabilities include our 2025 Bonds, which we expect will be legally settled by VEON Holdings at or before their maturity dates in April 2025 and June 2025 prior to the Business Combination being completed. These financial liabilities reflect principal amount of $585million and accrued interest of $6million as of December 31, 2024. We will retain a combination of cash and intercompany loan receivable due from the Seller, which, in aggregate, will fully amount to the repayment of the 2025 Bonds at or before their maturity dates. As of December 31, 2024, the estimated cash and intercompany receivables amount to $235million and $363million, respectively. In the case of any changes