Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 589

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 589
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 |   |     |                  |      590 |   |     |             | — |     |             |      590 |   |
| LB Scotland Amazon Fulfillment Center Fund 29                                                                |     |       |  29,223 |     |           |     227 |     |           |   3,917 |   |     |                  |  (16,566 | ) |     |             | — |     |             |  (16,566 | ) |
| JR AMC Hungary Budapest Office Fund 16                                                                       |     |       |  42,031 |     |           |   1,543 |     |           |     858 |   |     |                  |      858 |   |     |             | — |     |             |      858 |   |
| EDNCENTRAL Co.,Ltd.                                                                                          |     |       | 122,357 |     |           | 200,291 |     |           | (35,285 | ) |     |                  |  (70,591 | ) |     |             | — |     |             |  (70,591 | ) |
| Gyeonggi-Neoplux Superman Fund                                                                               |     |       |  20,711 |     |           |   1,697 |     |           |     716 |   |     |                  |   (4,218 | ) |     |             | — |     |             |   (4,218 | ) |
| NewWave 6th Fund                                                                                             |     |       |  36,572 |     |           |     878 |     |           |   9,185 |   |     |                  |   (5,276 | ) |     |             | — |     |             |   (5,276 | ) |

<div align='center'>F- 20 4</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 16. | Investments in associates (continued) |

|                                                                                                       |     |  2024 |         |     |           |       |     |           |         |   |     |                  |         |   |     |             |   |     |             |         |   |
| Investees                                                                                             |     |