Company: KYIV
Filing Date: 2025-06-05
Form Type: 425
Source: 0001213900-25-051631
Chunk: 16

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: 425
Chunk 16
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 database 3. Represents Kyivstar - identified potential opportunity for Kyivstar ARPU to catch up with European average monthly ARPU alongside growth in the Ukrainian economy and mobile market 3% 5% 3% 3% 5% 5% 2021 2022 2023 2024F 2025F 2026F 2027F Axis Title …with substantial growth potential on the back of Ukraine’s economic recovery 10 Monthly ARPU benchmarking (2024) – Central and Eastern European countries vs. Kyivstar 1 10.7 Average (excl. Ukraine) 3.6x 3 Ukraine’s Real GDP growth (y - o - y) 2 , % (29%) 5.5 33.4 GDP per capita, US$k 2 Population, m people 2 US$

14.1% 5.4% 4.8% 75.7% #1 Kyivstar #2 Ukrtelecom #3 Volia Other providers Leadership in Fixed Broadband segment 11 Source: State Statistics Committee, NCEC official reports Notes: 1. After acquisition of Volia by Lifecell 2. The four previously largest players acquired comprise of Data Group, Volia, Vega, and Freenet 3. As of December 31, 2024 4. Fixed Mobile Convergence refers to users who are mobile and fixed broadband subscribers Market share by number of subscribers 3 , % Kyivstar key highlights 3 1.1 m broadband customers (81% Fixed Mobile Convergence) 4 35% of our customers are also Digital TV users First fiber - to - the - home acquisition completed by Kyivstar in 2024 43.5k broadband - c onnected buildings (Dec 2024) The Ukrainian fixed broadband market is very fragmented, with the majority captured by smaller players Leading market share with significant consolidation potential Ukrainian fixed broadband market Kyivstar fixed broadband segment highlights (m) ~3k broadband providers in total, with the top three players (Kyivstar, Ukrtelecom and Lifecell 1 ) controlling only ~24% of total subscribers as of December 31, 2024 Market consolidation opportunity (four of the largest providers have been acquired since 2021) 2 Ukrtelecom is an incumbent operator with a mostly legacy network

Leveraging our loyal subscriber base with digital products and services 12 Strong growth with low