Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 277

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 277
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 income statement for the year ended December 31, 2024 The following adjustments have been reflected in the unaudited pro forma condensed combined income statement: AA. To reflect the preliminary estimated share -basedcompensation expense recognized, in accordance with IFRS2, for the excess of the fair value of Kyivstar Group Ltd. Common Shares issued and the fair value of Cohen Circle’s identifiable net assets acquired from the Business Combination. AA1.Resulted in an adjustment for the $106 million excess of the fair value of the shares issued over the value of the net assets acquired in the Business Combination assuming no redemptions. AA2.Resulted in an adjustment for the $101 million excess of the fair value of the shares issued over the value of the net assets acquired in the Business Combination assuming the 50% redemption scenario. AA3.Resulted in an adjustment for the $98 million excess of the fair value of the shares issued over the value of the net assets acquired in the Business Combination assuming the maximum redemption scenario. BB.To reflect the expense related to the transaction costs of the Business Combination for legal, financial advisory, accounting and other professional fees of $7million. This is a nonrecurring item. CC.To reflect the elimination of interest income generated from the investments held in the Trust Account. DD.To reflect the estimated grant date fair value of the Vesting Securities, and related share -basedcompensation expense, as described in pro forma adjustments E and AA. This is a nonrecurring item. EE. To reflect the elimination of interest expense in connection with the April 2025 and June 2025 bonds and interest income in connection with Loan receivable from VEON Amsterdam as follows: EE1. The elimination of net foreign exchange gain of $12million EE2. The elimination of interest expense of $25million EE3. The elimination of interest income earned on the Loan receivable from VEON Amsterdam of $19million 5. Pro forma Share and Earnings per Share Information The pro forma earnings per share calculation represents the earnings per share attributable to shareholders calculated using the pro forma basic and diluted weighted average shares outstanding of Kyivstar Group Ltd. as a result of the pro forma adjustments to reflect the Business Combination as occurring on January 1, 2024. The calculation of pro forma weighted average shares outstanding for basic and diluted net profit attributable to shareholders per share reflects that the shares issued in connection with the Business Combination have been outstanding for the entire period presented and the Business Combination occurring on January 1,