Company: KYIV
Filing Date: 2025-07-10
Form Type: F-4/A
Source: 0001213900-25-062760
Chunk: 42

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-10
Form: F-4/A
Chunk 42
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ponsors will be surrendered and such shares and warrants shall be automatically cancelled without any conversion thereof or payment or other consideration therefor. (3)Represents the number of Kyivstar Group Ltd. Common Shares issuable upon exercise of Kyivstar Group Ltd. Warrants converted from the Cohen Circle Public Warrants. The Kyivstar Group Ltd. Warrants to be received by the holders of the Cohen Circle Public Warrants have zero initial cash value, as such Kyivstar Group Ltd. Warrants are expected to be out of the money on the Closing Date. (4)At Closing, 757,745 Kyivstar Group Ltd. Common Shares shall, pursuant to the Non -RedemptionAgreements, be issued to certain holders Cohen Circle Class A Ordinary Shares who are parties to the Non -RedemptionAgreements in consideration of such holders agreeing (i) to vote their Cohen Circle Class A Ordinary Shares in favor of the Transactions and (ii) not to redeem such Cohen Circle Class A Ordinary Shares.

xvii

Dilution per share to the existing Cohen Circle’s shareholders

| USD                                                                                |     | Scenario 1  
 Assuming No 
 Redemptions |             |     | Scenario 2   
 Assuming 50% 
 Redemptions  |             |     | Scenario 3  
 Assuming    
 Maximum     
 Redemptions |            |
|:-----------------------------------------------------------------------------------|:----|:------------|------------:|:----|:-------------|------------:|:----|:------------|-----------:|
| Initial Public Offering Price per share                                            |     | $           |       10.00 |     | $            |       10.00 |     | $           |      10.00 |
| Cohen Circle’s net tangible book value as of March 31, 2025,                       
 as adjusted                                                                        |     |             | 219,542,102 |     |              | 101,635,598 |     |             | 36,013,413 |
| Total number of shares outstanding, as adjusted                                    |     |             |  29,768,098 |     |              |  18,268,098 |     |             | 11,819,723 |
| Cohen Circle’s net tangible book value per share as of March 31, 2025, as adjusted |     | $           |        7.38 |     | $            |        5.56 |     | $           |       3.05 |
| Dilution per share to