Company: KYIV
Filing Date: 2025-03-31
Form Type: DRS
Source: 0001213900-25-026261
Chunk: 325

Company: Kyivstar Group Ltd.
Filing Date: 2025-03-31
Form: DRS
Chunk 325
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| Change in the EUR exchange rate |     |          +10.00 |     |                   |     |                |
| Change in USD exchange rate     |     |           -1.00 |     |                   |     |                |
| Change in the EUR exchange rate |     |           -1.00 |     |                   |     |                |

Liquidity risk Liquidity risk is the risk we encounter in meeting the obligations associated with our financial liabilities. We analyze the aging of our assets and the maturity of our liabilities and plan our liquidity depending on the expected repayment of various instruments. Our short -termand long -termliquidity needs are funded largely through cash flow from operating activities. Total financial liabilities include our 2025 Bonds, which we expect will be legally settled by VEON Holdings at or before their maturity dates in April 2025 and June 2025 prior to the Transaction being completed. These financial liabilities reflect principal amount of $million and accrued interest of $million as of December 31, 2024. We will retain a combination of cash and intercompany loan receivable due from the Seller, which, in aggregate,

173 will fully amount to the repayment of the 2025 Bonds at or before their maturity dates. As of December 31, 2024, the estimated cash and intercompany receivables amount to $million and $million, respectively. In the case of any changes to the 2025 Bonds liability, primarily resulting from fluctuations in foreign currency exchange rates, we expect the Seller will provide additional funding via an intercompany loan, if required. Hence, no liquidity exposure is expected to arise from the financial liabilities relating to 2025 Bonds. Off-Balance Sheet Arrangements As of December 31, 2024, we had no off -balancesheet arrangements. Critical Accounting Estimates We prepare our combined financial statements in conformity with IFRS. The preparation of these combined financial statements required us to apply accounting policies and methodologies based on complex and subjective judgements, as well as estimates based on past experience and assumptions determined to be reasonable and realistic based on the related circumstances. The use of these judgments, estimates and assumptions affects the amounts reported in these combined financial statements. The final amounts for items for which estimates and assumptions were made in the combined financial statements may differ from those reported in these statements due to the uncertainties that characterize the assumptions and conditions on which the estimates are based. For a discussion of our accounting policies please refer to Note