Company: KYIV
Filing Date: 2025-08-07
Form Type: 424B3
Source: 0001213900-25-072861
Chunk: 2

Company: Kyivstar Group Ltd.
Filing Date: 2025-08-07
Form: 424B3
Chunk 2
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 see section titled “Presentation                                                                                 
 of Non-IFRS Financial Measures” at the end of this press release, including the reconciliations of non-IFRS measures to IFRS measures. |

“Kyivstar Group continues to demonstrate
the resilience and strength of our digital operator strategy, delivering strong revenue growth and robust profitability,” said Oleksandr Komarov, CEO of Kyivstar Group. “This quarter’s results showcase our ability to drive sustainable financial performance
while expanding our digital ecosystem. The successful integration of Uklon is already contributing meaningfully to our direct digital
revenue stream, reinforcing our position as Ukraine’s leading digital operator. We remain on track with our Nasdaq listing timeline and
look forward to completing this important milestone, which will further support our mission to contribute to Ukraine’s reconstruction
and accelerate the country’s digital transformation.”

1

Second Quarter 2025 Financial and Operational Highlights

| ● | Sustained Revenue Growth: Total operating revenue for 2Q25 was USD 284 million, up 20.9% year-on-year                                      
 in USD and 25.9% year-on-year in local currency terms, driven by the first-time consolidation of Uklon, which contributed USD 21.7 million 
 in revenue, as well as growth across both telecom and digital segments generally.                                                          |

| ● | Enhanced Profitability: Adjusted EBITDA for 2Q25 was USD 165 million, up 18.7% year-on-year.                                             
 This represents an adjusted EBITDA margin of 58.1% in 2Q25. In local currency terms, 2Q25 adjusted EBITDA growth was 23.6% year-on-year, 
 and adjusted EBITDA margin was 58.1%, driven by revenue growth and disciplined management of the operating cost base.                    |

| ● | Multiplay Customers Continue to Support Growth: The Multiplay customer base, which are customers                                              
 who use at least one digital application in addition to 4G data and voice connectivity, was up by 23.7% year-on-year to 6.5 million customers 
 and represented 31.7% of one-month-active mobile customersi                                                                                   
 reflecting increased adoption of digital products.                                                                                            |

| ● | Digital Services Users: Total digital monthly active users across Kyivstar Group’s digital                                                  
 applications Uklon, MyKyivstar, Kyivstar TV and Helsi reached 13.4 million in 2