Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 360

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 360
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 agreement (“ SPA”) to acquire Uklon, consisting of 97% of LLC Uklon Corporate, LLC Uklon Tech, and LLC Uklon Ltd. and its 100% subsidiary Uklon LLC, a leading Ukrainian ride -hailingand delivery platform for a purchase consideration of US$158. JSC Kyivstar also entered into a symmetrical put and call option agreement for the remaining 3% interest in Uklon, which may be exercised within three years of closing. The transaction closed on April 2, 2025. Refer to Note 4 for further details. In May 2025, Kyivstar further increased its ownership of Helsi Ukraine to 97.99% for US$11. Refer to “major developments during six -monthperiod ended June 30, 2025” for more details. JSC Kyivstar previously acquired a controlling share (69.99%) of Helsi Ukraine, an entity in the IT e -healthsector in August 2022 for US$15. In the interim condensed combined financial statements subsidiary undertakings — which are those companies in which the Group directly or indirectly, has an interest of more than half of the voting rights or otherwise has power to exercise control over the operations — have been fully consolidated.

F-95 VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 1GENERAL INFORMATION (cont.) The functional currency of Kyivstar is Ukrainian Hryvnia (“ UAH”), the currency of the primary economic environment in which Kyivstar operates. The interim condensed combined financial statements are presented in United States dollars (“ U.S. dollar” or “ US$”). In these Notes, U.S. dollar amounts are presented in millions, except for share amounts and as otherwise indicated. Due to the ongoing war between Russia and Ukraine, material uncertainties have been identified that may raise substantial doubt on the Company’s ability to continue as a going concern which are discussed in detail below. BASIS OF COMBINATION The interim condensed combined financial statements as of and for the period ended June 30, 2025 and 2024 present the VEON Group. These CFS have been prepared in accordance with International Accounting Standards (“IAS”) 34 Interim Financial Reportingas issued by the International Accounting Standards Board, effective at the time of preparing the interim condensed combined financial statements and applied by VEON Group. As International Financial Reporting Standards (“IFRS”) does