Kyivstar Group Ltd. Warrant

Kyivstar Group Ltd. Warrant is a derivative security issued in connection with the public listing of Kyivstar Group Ltd., offering the right to purchase ordinary shares of the company under specific terms and conditions. The warrant was created as part of a business combination between Kyivstar Group Ltd. and Cohen Circle Acquisition Corp. I, following the company's Nasdaq debut in August 2025. Kyivstar Group Ltd. stands out as the first pure-play Ukrainian investment vehicle accessible through U.S. public markets, distinguished for its critical role in Ukraine’s telecommunications and digital services sector. With parent company VEON retaining a majority stake, Kyivstar is a market leader, serving over 23 million mobile and 1.1 million fixed connectivity customers and operating digital platforms in healthcare, entertainment, and mobility. The warrant embodies both a mechanism to raise capital for Kyivstar’s continued expansion and a tool for investors to participate in the growth prospects of Ukraine’s digital infrastructure and economic resurgence. Its introduction signals heightened visibility and engagement for Ukrainian businesses in global capital markets.