Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 303

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 303
---
 by filing the demerger proposal and accompanying documents with the Dutch Chamber of Commerce on January 13, 2025. The Reorganization is expected to be completed in April 2025. Refer to Note 18. The combined financial statements (“ CFS”) have been prepared in accordance with the basis of preparation and accounting policies set out in this Note below. The combined financial statements were authorized by the VEON Board of Directors for issuance on April 2, 2025. The combined financial statements presented herein reflect the following combined entities’ results of operations, assets and liabilities and cash flows that will remain with VEON Holdings after the demerger and form the entity subject to the aforementioned Transaction: VEON Holdings B.V. The combined financial statements of the Company as a single economic entity reflecting the outcome of the pre -transactionReorganization. Kyivstar reflecting the Ukrainian business. The consolidated financial statements of Kyivstar consist of the following four entities: •JSC Kyivstar (“ JSC Kyivstar”) being the parent company of Kyivstar and a 99.995% subsidiary of VEON Holdings B.V. (Netherlands) with a minority shareholder VEON Ltd. (Bermuda) holding the remaining 0.005% of JSC Kyivstar’s shares •LLC Kyivstar Tech (“ Kyivstar.Tech”), being a 100% subsidiary of JSC Kyivstar •Limited Liability Company Lan Trace (“ Lan Trace”), being a 100% subsidiary of JSC Kyivstar, acquired in September 2024. •Helsi Ukraine Limited Liability Company (“ Helsi Ukraine” or “ Helsi”), being a 69.99% subsidiary of JSC Kyivstar with minority shareholders. Collectively, VEON Holdings and Kyivstar included in these combined financial statements are referred to as the “ Group” or “ we” or “ our” or “ VEON Group”. VEON Ltd. and all its subsidiaries, excluding VEON Group, are henceforth referred to as “ Wider VEON Group”, while Wider VEON Group including VEON Group is referred to as “ VEON”. The main operating company in Kyivstar is JSC Kyivstar. JSC Kyivstar was established and registered on September 3, 1997 under the laws of Ukraine. JSC Kyivstar’s registered legal address is at 53 Degtyarivska St. Kyiv 03113 Ukraine. JSC Kyivstar’s head