Company: KYIV
Filing Date: 2025-12-09
Form Type: F-1/A
Source: 0001213900-25-119722
Chunk: 419

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-09
Form: F-1/A
Chunk 419
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 VEON Ltd. for US$. The financial asset was measured at fair value, impacting other comprehensive income by US$. All VEON Ltd. ordinary shares held by VEON Holdings were transferred to VEON Amsterdam B.V. in March 2025 at fair value (US$) resulting in a receivable from VEON Amsterdam B.V. Subsequently, these receivables from VEON Amsterdam B.V. were utilized in the repayment of bonds.

At amortized cost

Indemnity receivable from VEON Amsterdam B.V. (US$) reflects an indemnity agreement to cover potential future repayments of Bonds mentioned in this section below.

Investment and derivatives

Security deposits and cash collateral consisted of funds held in the account of a clearing company acting as an intermediary between Kyivstar and roaming and interconnect partners, amounting to US$ (2024: US$).

As of December 31, 2024 other investments at amortized cost predominantly include sovereign Ukrainian bonds held by Kyivstar, US$ denominated in US$. The average yield to maturity of the sovereign Ukrainian bonds was % in 2025 (2024: %).

The Company holds the following debt and derivative liabilities:

|                                         |     | September 30, 
          2025 |     | December 31, 
         2024 |
|:----------------------------------------|:----|--------------:|:----|-------------:|
| At fair value                           |     |               |     |              |
| Warrants                                |     |            31 |     |            — |
| Total at fair value                     |     |            31 |     |            — |
| At discounted redemption amount         |     |               |     |              |
| Put option liability                    |     |             2 |     |            9 |
| Total at discounted redemption amount   |     |             2 |     |            9 |
| At amortized cost                       |     |               |     |              |
| Bonds                                   |     |            37 |     |          585 |
| Interest accrued on Bonds               |     |             2 |     |            6 |
| Lease liabilities                       |     |           353 |     |          294 |
| Other financial liabilities             |     |            21 |     |            — |
| Loan Note Payable – VEON Amsterdam B.V. |     |            56 |     |            — |
| Total at amortized cost                 |     |           469 |