Kyivstar Group (KYIV) Registration Filing summary

Company overview and business model

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

• Offers mobile, fixed-line, and digital services, including digital health, TV, and ride-hailing platforms.

• Expanded digital portfolio through acquisitions of Helsi (digital health), Lan Trace (broadband), and Uklon (ride-hailing).

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

• Holds over 47% mobile market share and leads in B2B mobile services in Ukraine.

Financial performance and metrics

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

• For nine months ended September 30, 2025: revenue $836M, profit $34M, Adjusted EBITDA $477M, profit margin 4% (impacted by $162M one-time listing expense), Adjusted EBITDA margin 57%.

• Cash and cash equivalents as of September 30, 2025: $472M.

• Capital expenditures (excluding licenses and ROU) for nine months ended September 30, 2025: $223M.

• Maintained strong margins and cash flow despite war-related disruptions and increased operating costs.

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 $1B investment initiative in Ukraine (2023–2027) for network, digital, and infrastructure development.

• Recent capital allocation includes spectrum acquisition, network resilience, and strategic M&A.