Company: KYIV
Filing Date: 2025-12-18
Form Type: 424B3
Source: 0001213900-25-123334
Chunk: 324

Company: Kyivstar Group Ltd.
Filing Date: 2025-12-18
Form: 424B3
Chunk 324
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 rate in perpetuity is estimated based on a percentage that is lower than or equal to the country long -terminflation forecast. Operating margin The Company estimates operating margin on a pre -IFRS16 basis (including lease expenses/payments), divided by Total Operating Revenue for each future year. The forecasted operating margin is based on the budget and forecast calculations and assumes cost optimization initiatives which are part of on -goingoperations, as well as regulatory and technological changes known to date, such as telecommunication license issues and price regulation among others. Segment information in Note 2 is on a post -IFRS16 basis. CAPEX CAPEX is defined as purchases of property and equipment and intangible assets excluding licenses, goodwill and right -of -useassets. The cash flow forecasts for capital expenditures are based on the budget and forecast calculations and include the network roll -outplan and license requirements. The cash flow forecasts for license and spectrum payments for each operating company for the initial five years include amounts for expected renewals and newly available spectrum. Beyond that period, a long -runcost related to spectrum and license payments is assumed. Payments for right -of -useassets are considered in the operating margin as described above. SOURCE OF ESTIMATION UNCERTAINTY There are significant variations with respect to growth, mobile penetration, ARPU, market share and similar parameters, resulting in differences in operating margins. The future development of operating margins is important in the Group’s impairment assessments. 10PROPERTY AND EQUIPMENT The following table summarizes the movement in the net book value of property and equipment for the year ended December 31: During 2024, the Group acquired property and equipment in the amount of US$17 (2023: US$18), which were not paid for as of year -end. Related payables are included in Trade & other payables.

| Net book value                                   
 As of January 1, 2024                            |     |  Telecomm- 
 unications 
  equipment 
        288 |   |     |         Land, 
 buildings and 
 constructions 
            28 |   |     |    Office 
 and other 
 equipment 
        20 |   |     |     Equipment 
 not installed 
    and assets 
         under 
  construction 
            26 |   |     | Right-of-use 
       assets 
          235 |   |     | Total 
   597 |   |
|:-------------------------------------------------|:----|-----------:|:--|:----|--------------