Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 321

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 321
---
 the assessment, the Pillar Two effective tax rates in the Netherlands and Ukraine are above 15%. The Group has applied the temporary mandatory exception to the requirement to recognize deferred tax assets and liabilities related to Pillar Two income taxes. F-69

VEON Holdings B.V. GENERAL INFORMATION ABOUT THE GROUP 9IMPAIRMENT OF ASSETS Property and equipment and intangible assets are tested regularly for impairment. The Company assesses, at the end of each reporting period, whether any indicators exist that an asset may be impaired. If there are such indicators, the Company estimates the recoverable amount of the asset. Impairment losses are recognized in the combined income statement in a separate line item. The Company performed annual impairment testing of goodwill and also tested assets for impairment as of September 30, 2024 and 2023 and subsequently assessed for indicators of impairment or reversal of impairment as of December 31, 2024 and 2023. The impairment assessment also considered the impact of the cyber -attackin December 2023 on Kyivstar, and concluded that no impairment nor reversal of impairment was identified for Kyivstar. For further details of the Ukraine cyber -attack, refer to Note 1. In 2024 an impairment loss of US$4 (2023: US$4) was formed based on internal indications of impairment for various individual components of network equipment and software, as the Group did not plan to use this equipment in future. The loss was partly set -offby an impairment reversal on equipment not installed in 2024 of US$1 and right -of -useassets of US$3 in 2023 attributable to the restoration of certain telecommunication sites. Net Impairment losses in 2024

| 2024     |     | Property and 
    equipment |     |      Total 
 impairment |
| Kyivstar |     |            3 |     |          3 |
|          |     |            3 |     |          3 |

Net Impairment losses in 2023

| 2023     |     | Property and 
    equipment |     |      Total 
 impairment |
| Kyivstar |     |            1 |     |          1 |
|          |     |            1 |     |          1 |

KEY ASSUMPTIONS

|                                                                     |     | 2024 |   |     | 2023 |   |
| Discount rate (local currency)                                      |     |   18 | % |