Company: KYIV
Filing Date: 2025-09-05
Form Type: F-1
Source: 0001213900-25-085122
Chunk: 358

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-05
Form: F-1
Chunk 358
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 leading Ukrainian ride -hailingand delivery platform. This strategic acquisition marks Kyivstar’s expansion into a new area of digital consumer services in line with VEON’s digital operator strategy. Kyivstar acquired 97% of Uklon Group shares for a total consideration of US$158 upon the closing of the transaction. The agreement was subject to customary closing conditions and approvals that were obtained on April 2, 2025, the date the acquisition was completed.

F-104

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 4SIGNIFICANT TRANSACTIONS (cont.) The fair values of identifiable assets and liabilities of Uklon at the date of acquisition were:

|                                       |     | April 2, 
     2025 |   |
|:--------------------------------------|:----|---------:|:--|
| Non-current assets                    |     |          |   |
| Intangible assets                     |     |       56 |   |
| Current assets                        |     |          |   |
| Trade and other receivables           |     |        2 |   |
| Cash and cash equivalents             |     |       12 |   |
| Non-current liabilities               |     |          |   |
| Deferred tax liability                |     |       (8 | ) |
| Current liabilities                   |     |          |   |
| Trade and employee related payables   |     |       (5 | ) |
| Other current liabilities             |     |       (3 | ) |
| Fair value of identifiable net assets |     |       54 |   |
| Goodwill resulting from acquisition   |     |      104 |   |
| Purchase consideration                |     |      158 |   |

The following table shows the details of purchase consideration at the acquisition date:

|                                        |     | April 2, 
     2025 |
|:---------------------------------------|:----|---------:|
| Cash paid *                            |     |      141 |
| Fair value of contingent consideration |     |       15 |
| Put option liability                   |     |        2 |
| Total consideration                    |     |      158 |

____________ * Total cash consideration consisted of US$129 for the acquisition of 97% of Uklon Group’s shares and a US$12 payment to settle employee awards. The following table shows the details of cash outflow during the six months ended June 30, 2025