Kyivstar Group Ltd. · NASDAQ:KYIV
Kyivstar — Q3 2026 Earnings Presentation
24 slides from Kyivstar's earnings presentation, Nov 6, 2026
Slide 1: 3Q26 Results Presentation
November 6, 2026 | 3Q26 Results Presentation Kyivstar Group Ltd. Kyivstar Raises 2026 Revenue and EBITDA Outlook 3Q26 Revenue +17.5% YoY, EBITDA +10.3%, (USD terms)
Slide 2: Disclaimer and Notice to Readers
2 DISCLAIMER AND NOTICE TO READERS Kyivstar’s results and other financial information presented in this document are, unless otherwise stated, prepared in accordance with International Financial Reporting Standards ("IFRS") as issued by the international Accounting Standards Board and have not been
Slide 3: Growth Converting to Cash; Outlook Raised
+17.5% USD revenue growth 3 GROWTH CONVERTING TO CASH; OUTLOOK RAISED Generating Strong Growth Transforming Digital Services +68.9% USD digital rev. growth Building Telecom- Digital Synergies +23.2% Multiplay customer growth Delivering on Strategic Priorities Uklon: Continuing expansion >8 mn D2C cu
Slide 4: 3Q26: Momentum Continues, Business Resilient
4 3Q26: MOMENTUM CONTINUES, BUSINESS RESILIENT Revenue 349 +17.5% in USD +26.5% in UAH Telecommunications & infrastructure revenue 273 +8.4% in USD +16.7% in UAH Digital revenue 1 76 +68.9% in USD +81.8% in UAH EBITDA 189 +10.3% in USD; +18.7% in UAH Net profit 99 versus USD (89 mn) in 3Q25 2 Earnin
Slide 5: Telecommunications: ARPU Rising, Sub Trend Stable
5 TELECOMMUNICATIONS: ARPU RISING, SUB TREND STABLE Subscribers (mn) Churn rate (annualized, %) 22.5 22.4 22.0 21.8 21.7 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 (3.6) (2.8)YoY, % ARPU (USD & UAH) 9.9 13.5 16.2 14.2 11.7 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 (6.3) (4.1) 3.7 3.8 3.8 3.9 4.0 153 161 166 173 179 Q3'25 Q4
Slide 6: Multiplay: Deeper Engagement Compounds Value
6 MULTIPLAY: DEEPER ENGAGEMENT COMPOUNDS VALUE Growth in multiplay customers Customers, mn, active in the last month ARPU, USD 6.6 8.1 5.3 5.9 3Q25 3Q26 Multiplay customers YoY +23.2% Multiplay vs. all mobile customers, 3Q26 ARPU USD per month Multiplay Mobile 1.5x Higher ARPU Churn Monthly churn ra
Slide 7: Digital Scales Profitably
DIGITAL SCALES PROFITABLY 7 1,027 1,417 1,426 1,448 1,497 624 682 715 746 791 140 351 453 614 630 234 342 361 75 95 93 105 1113 15.1% 18.9% 20.9% 21.7% 21.7% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 % of total revenue 2,921 3,393 1,866 2,545 UAH, mn for comparability +81.8% Revenue growth, UAH, YoY EBITDA, UAH
Slide 8: Uklon: Expanding to New Cities, Services
8 UKLON: EXPANDING TO NEW CITIES, SERVICES Leading ride-hailing platform in Ukraine Scaling operations & footprint in Uzbekistan, more Ukrainian cities Diversifying into commerce, EV scooters, other digital mobility opportunities 33.5 mn USD 1,497 mn UAH Total revenue EBITDA 3Q26 5.4 mn Digital cust
Slide 9: Helsi: Growing the Paying Customer Base
9 HELSI: GROWING THE PAYING CUSTOMER BASE The largest digital healthcare platform in Ukraine Active doctors and specialists 2.3 mn Appointments made by patients 1.7k+ Active healthcare institutions +19.9% YoY +10.1% YoY +0.6% YoY 136k+ Premium subscriptions +312.1% YoY 5.2 mn Digital customers +6.2%
Slide 10: Tabletki: Strong Quarter, Progressing Ecosystem Ties
10 TABLETKI: STRONG QUARTER, PROGRESSING ECOSYSTEM TIES 8.1 mn USD 361 mn UAH Total revenue 6.1 mn USD 271 mn UAH EBITDA 3Q26 Leading marketplace for online booking of medicine and other healthcare products Consolidated effective February 2026 6.6 mn Digital customers 397 mn USD Gross merchandise va
Slide 11: Kyivstar TV: Content, Bundles Drive YoY Customer Growth
11 KYIVSTAR TV: CONTENT, BUNDLES DRIVE YOY CUSTOMER GROWTH Largest media streaming service in Ukraine 3.5 mn Digital customers 784 mn Number of sessions +18.6% YoY +32.3% YoY 14.1 mn USD 630 mn UAH Total revenue1 +316.3% YoY +348.8% YoY 1. Gross (versus net) revenue recognition effective September 2
Slide 12: Digital Enterprise: Expanding Revenue, Market Reach
12 DIGITAL ENTERPRISE: EXPANDING REVENUE, MARKET REACH Digital Enterprise revenue (UAH, mn) Active contracts (‘000) 3Q26 Total revenue 17.7 mn USD 790 mn UAH Growth (USD) 643 B2B clients provided with cloud services >4.3k Registered clientsIn-house solutions, consulting + Resale of partner products
Slide 13: GigaCloud Acquisition Transaction Terms
Transaction terms Signed October 27, 2026 Total consideration Up to USD 50 mn Acquisition price USD 41 mn Deferred non-adjustable debt Up to USD 4 mn Performance-related consideration ~USD 3 mn Capex reimbursement Up to USD 2 mn ~USD 5 mn of the total is linked to future performance and capital inve
Slide 14: Growth Strategy and Priorities
Sustain mobile market leadership GROWTH STRATEGY AND PRIORITIES Telecommunications & Infrastructure Leverage our loyal customer base to develop and launch digital products Digital Maintain paying subscriber base and grow share of multiplay customers Grow digital offerings organically and through adj
Slide 15: Building a Profitable Ecosystem
15 BUILDING A PROFITABLE ECOSYSTEM 2025 2026 Mar 2025 Uklon Announced acquisition of a 97% stake in Uklon, introducing digital mobility services to the Kyivstar ecosystem. May 2025 Helsi Increased ownership in Helsi from 69.99% to 97.99%. Helsi introduced digital healthcare services to the Group. De
Slide 16: 3Q Financials: Strong Growth; Disciplined Cash Conversion
7.1 7.2 7.5 8.3 8.4 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 16 3Q FINANCIALS: STRONG GROWTH; DISCIPLINED CASH CONVERSION Revenue (UAH, bn) 12.3 13.5 14.0 15.0 15.6 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 +26.5% CAPEX 3Q26: USD 66 mn / UAH 3.0 bn (capex intensity: 19.0%) LTM: USD 320 mn / UAH 13.8 bn (capex intensity: 2
Slide 17: Operational Strength, Balance Sheet Resilience
Strong cash position despite acquisitions, and immaterial external market debt 17 OPERATIONAL STRENGTH, BALANCE SHEET RESILIENCE USD mn UAH mn 30 Sep 2026 30 Jun 2026 30 Sep 2026 30 Jun 2026 Cash and cash equivalents 436 364 19,570 16,353 Gross debt, of which 502 488 22,524 21,905 Bonds and loans –
Slide 18: Raising 2026 Outlook on Sustained Growth Momentum
RAISING 2026 OUTLOOK ON SUSTAINED GROWTH MOMENTUM 1. The outlook is subject to risks and uncertainties including, but not limited to, those discussed herein. Actual outcomes may differ materially from current expectations and current expectations should not be construed as a guarantee of future perf
Slide 19: Appendix
19 Appendix
Slide 20: Reconciliation of Financial Metrics (1/3)
RECONCILIATION OF FINANCIAL METRICS (1/3) 20 Profit for the period to EBITDA reconciliation (USD mn) 3Q26 3Q25 Profit / (loss) for the period 99 (89) Listing expense - 162 Income taxes 25 18 Amortization 23 17 Depreciation 27 24 Depreciation of right of use asset (A) 15 13 Impairment 3 3 Foreign exc
Slide 21: Reconciliation of Financial Metrics (2/3)
RECONCILIATION OF FINANCIAL METRICS (2/3) 21 Uklon standalone profit for the period to EBITDA reconciliation (USD mn) 3Q26 3Q25 Profit for the period 2 7 Income taxes 6 1 Amortization 2 2 Depreciation - - Net foreign exchange gain (0) (1) Finance income (1) - Finance costs - - EBITDA 10 9 Tabletki p
Slide 22: Reconciliation of Financial Metrics (3/3)
RECONCILIATION OF FINANCIAL METRICS (3/3) 22 CAPEX reconciliation (USD mn) 3Q26 3Q25 Capex (excluding license and RoU) 66 89 Difference in timing b/w accrual and payment for capex 0 12 Cash capex (excluding license payments) 66 101 Cash flow statement to FCF reconciliation (USD mn) 3Q26 3Q25 YoY cha
Slide 23: Definitions
DEFINITIONS 23 4G customers 4G customers are mobile customers who used fourth-generation (4G or LTE) network technologies during the three months prior to the measurement date. ARPU (average revenue per user/customer) measures the monthly average revenue per mobile user. We calculate Mobile ARPU by
Slide 24: ir@kyivstargroup.com
24 ir@kyivstargroup.com