Kyivstar Group (KYIV) Registration Filing summary

Company overview and business model

• Operates Ukraine's largest mobile and broadband provider, serving over 23 million mobile and 1.1 million broadband customers as of December 31, 2024.

• Offers mobile, digital, and fixed-line services, with mobile accounting for 94–95% of revenue in 2024 and H1 2025.

• Expanded digital ecosystem through acquisitions (Helsi, Uklon, Lan Trace) and organic growth in digital health, TV, and ride-hailing.

• Centralized compliance, audit, treasury, and M&A functions for operational efficiency.

• Market leader with 47% mobile market share and 14% fixed broadband share in Ukraine as of 2024.

Financial performance and metrics

• For 2024: $919M revenue, $283M profit, $515M Adjusted EBITDA, 31% profit margin, 56% Adjusted EBITDA margin.

• For H1 2025: $539M revenue, $126M profit, $306M Adjusted EBITDA, 24% profit margin, 57% Adjusted EBITDA margin.

• Cash and cash equivalents of $458M as of June 30, 2025.

• Capital expenditures (excluding licenses/ROU): $134M in H1 2025.

• Maintained strong margins despite war-related disruptions and inflationary pressures.

Use of proceeds and capital allocation

• Will not receive proceeds from resale of shares by selling securityholders.

• May receive up to $88.2M from warrant exercises at $11.50/share, to be used for general corporate purposes.

• Ongoing capital allocation to network resilience, digital expansion, and strategic M&A.