Company: KYIV
Filing Date: 2025-08-15
Form Type: 20-F
Source: 0001213900-25-077507
Chunk: 21

Company: Kyivstar Group Ltd.
Filing Date: 2025-08-15
Form: 20-F
Item: Item 17
Chunk 21
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;  

  risks related to investing in frontier markets, which are subject to greater risks than investing in more                       

  risks associated with cyber-attacks or systems and network disruptions, data protection, data breaches,                                    

  risks relating to the international economic environment, inflationary pressures, geopolitical developments  

  risks related to PubCo’s ability to grow its communications and digital service offerings, including                                   

  risks related to the impact of export controls, international trade regulation, customs and technology                                 

  risks relating to legislation, regulation, taxation and currency, including costs of compliance, currency                                      

  risks that the adjudications, administrative or judicial decisions in respect of legal challenges, license                         
  and regulatory disputes, tax disputes or appeals may not result in a final resolution in PubCo’s favor or that it is unsuccessful  
  in its defense of material litigation claims or is unable to settle such claims;                                                   
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  risks relating to our operations, including regulatory uncertainty regarding PubCo’s service offering,                                       

  risks related to developments from competition, unforeseen or otherwise, including PubCo’s ability  

  risks associated with the market price of PubCo Common Shares, which may be volatile or may decline regardless  
  of PubCo’s operating performance; and                                                                           
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  other factors discussed under the section titled “ Risk Factors ” in the Proxy Statement                                  
  and Prospectus (the “ Proxy Statement/Prospectus”), part of PubCo’s Registration Statement on Form F-4, as amended (File  
  No. 333-287802) (the “ Form F-4”), which section is incorporated herein by reference.                                     
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The forward-looking statements contained in the
Proxy Statement/Prospectus are based on PubCo’s current expectations and beliefs concerning future developments and their potential
effects on its direct and indirect subsidiaries. There can be no assurance that future developments affecting PubCo will be those that
PubCo have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond either PubCo’s
control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied
by these forward-looking statements. These risks and uncertainties include, but are not limited to,