Company: KYIV
Filing Date: 2025-06-05
Form Type: F-4
Source: 0001213900-25-051575
Chunk: 264

Company: Kyivstar Group Ltd.
Filing Date: 2025-06-05
Form: F-4
Chunk 264
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                     |     |       |    2 |   |
| Net Assets Acquired                                                                                      |     |           |       |     |                     |     |       | 222 |   |     |                     |     |       |  103 |   |     |                     |     |       |   34 |   |
| Excess of fair value of consideration over Cohen Circle’s net assets (IFRS 2 Charge for listing service) |     |           |       |     |                     |     | $     | 172 |   |     |                     |     | $     |  143 |   |     |                     |     | $     |  125 |   |

____________ *This balance is derived from all outstanding Cohen Circle Class A Ordinary Shares held by the Public Shareholders and 5,027,500 Founder Shares outstanding which will convert on a one -for-onebasis into Cohen Circle Class A Ordinary Shares at the time of Closing. G.Represents payment of preliminary estimated transaction costs of $36 million to be incurred as a part of the Business Combination. G.1Payment of deferred underwriters’ fees of $10 million. The unaudited pro forma condensed combined statement of financial position reflects these costs as a reduction of cash and cash equivalents of $10 million with a corresponding decrease of $10 million to deferred underwriting fee payable. G.2Payment of incremental expenses attributable to equity issuance costs related to the Business Combination incurred through the Business Combination Closing Date of $19 million. The unaudited pro forma condensed combined statement of financial position reflects these costs as a reduction of cash and cash equivalents of $19 million with a corresponding decrease of $19 million to issued capital.

127 G.3Payment of all other incremental expenses related to the Business Combination incurred through the Business Combination Closing Date of $7 million of which $2million of trade payables were already recorded within balance sheet. The unaudited pro forma condensed combined statement of financial position reflects these costs as a reduction of cash and cash equivalents of $7 million with a corresponding increase of $7 million to accumulated deficit. H.Represents the subsequent event of the repayment of VEON Holdings B.V. April 25 and June 25 bonds for a total of $578million. The adjustments presented are as follows: H1.To reflect the decrease in Loan receivable from VEON Amsterdam by $24million and elimination of accrued interest income related to the Loan receivable from VEON Amsterdam. See adjustments DD3 and EE3 for the adjustments