Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 137

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 137
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 |     |              469 |     |          885 |     | 887 |
| Total debt and derivatives                     |     |              502 |     |          894 |     | 898 |
| Non-current                                    |     |              275 |     |          225 |     | 815 |
| Current                                        |     |              227 |     |          669 |     |  83 |

Our derivative instruments at discounted redemption amount relate to our Helsi put option, which amounted to $11 million for the year ended December 31, 2023, $9 million for the year ended December 31, 2024 and $1million for the nine months ended September30, 2025 and our Uklon put option, which amounted to $1million for the nine months ended September30, 2025. As of September30, 2025, we held symmetrical call and put options issued under an option agreement with non -controllingshareholders of Uklon dated April2, 2025 and Helsi dated May7, 2025. These options grant their holders the right to demand the sale/purchase of 3% and 2.01% of shares held by the non -controllingshareholders of Uklon and Helsi, respectively, for variable consideration in the future. As of December31, 2024, we held symmetrical call and put options issued under an option agreement with non -controllingshareholders of Helsi Ukraine dated August9, 2022. These options granted their holders the right to demand the sale/purchase of 30.01% of shares held by the non -controllingshareholders for variable consideration in the future. In May 2025, Kyivstar and LLC “UKRAINIAN INVESTMENT PLATFORM”, representing 26.9% ownership together with other minority stakeholders representing 1.1% ownership in Helsi, negotiated an agreement to buy out the ownership stake of these parties for US$11. Simultaneously the parties also terminated the existing put and call option agreements to the extent representing the stake of these parties, resulting in partial derecognition of the put option liability. At the same time Kyivstar agreed to terms with the remaining 2.01% shareholders based on the terms of the originally entered put and call option agreement. See “— Significant Factors Affecting our Results of Operations — Recent Acquisitions.” In the year