Company: KYIV
Filing Date: 2025-09-30
Form Type: F-1/A
Source: 0001213900-25-093621
Chunk: 358

Company: Kyivstar Group Ltd.
Filing Date: 2025-09-30
Form: F-1/A
Chunk 358
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 on those sites. Other financial liabilities primarily include contingent consideration payable for Uklon Group acquisition of US$13 (refer to Note 4 for further details), long term financial liability for license for the Digital Business Support System of US$12 and long -termfinancial interest free loan of US$5 received from UTC, a related party, with maturity on May 30, 2027.

F-109

VEON Holdings B.V.Notes to the interim condensed combined financial statements
(in millions of U.S. dollars unless otherwise stated) 7INVESTMENTS, DEBT AND DERIVATIVES (cont.) Significant changes in financial assets and financial liabilities There were no significant changes in financial assets and financial liabilities during six -monthperiod ended June 30, 2025 and 2024, except as discussed below. Financing activities during the six-month period ended June 30, 2025 Except for the bond repayment transactions disclosed above, there were no further significant financing activities during the six -monthperiod ended June 30, 2025, except as disclosed above in this section. Financing activities during the six-month period ended June 30, 2024 There were no significant financing activities during the six -monthperiod ended June 30, 2024. 8CASH AND CASH EQUIVALENTS Cash and cash equivalents consisted of the following items:

|                                                                                 |     | June 30, 
     2025 |     | December 31, 
         2024 |
|:--------------------------------------------------------------------------------|:----|---------:|:----|-------------:|
| Cash and cash equivalents at banks and on hand                                  |     |      288 |     |          479 |
| Cash equivalents with original maturity of less than three months               |     |      170 |     |          195 |
| Cash and cash equivalents, as presented in the combined statement of cash flows |     |      458 |     |          674 |

Cash at banks held by Kyivstar amounting to US$280 (2024: US$234) earns interest based on bank deposit rates. Short -termdeposits are made for varying periods between one day and three months, depending on immediate cash requirements and earn interest at the respective short -termdeposit rates. Additionally, cash at banks held by VEON Holdings amounts to US$8 (2024: US$245). The decrease in cash and cash equivalents at banks and on hand is primarily due to repayment of bonds (as disclosed in Note