Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 689

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 689
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 or disposal of such vehicles’ assets, (ii) (even if the Group is so able) if the Group does not have the exclusive or primary power to do so, or (iii) if the Group does not have exposure, or right, to a significant amount of variable returns from such entity due to the purchase (or commitment to purchase) of asset-backed securities so issued or subordinated obligations or by providing other forms of credit support. |
| Structured financing         |     | Structured entities for project financing are established to raise funds and invest in a specific project such as M&A (mergers and acquisitions), BTL (build-transfer-lease), shipping finance, etc. The Group is involved in the structured entities by originating loans, investing in equity, or providing credit enhancement.                                                                                                                                                                                                                                                                                                              |
| Investment fund              |     | Investment fund means an investment trust, a PEF (private equity fund) or a partnership which invests in a group of assets such as stocks or bonds by issuing a type of beneficiary certificates to raise funds from the general public, and distributes its income and capital gains to their investors. The Group manages assets by investing in shares of investment fund or playing a role of an operator or a GP (general partner) of investment fund, on behalf of other investors.                                                                                                                                                      |

The size of unconsolidated structured entities as of December 31, 2023 and 2024 are as follows:

|                             |     | 2023 |               |     | 2024 |               |
| Total assets:               |     |      |               |     |      |               |
| Asset-backed securitization |     |    W |   214,750,119 |     |      |   193,570,970 |
| Structured financing        |     |      |   427,272,034 |     |      |   506,473,200 |
| Investment fund             |     |      |   364,272,967 |     |      |   508,704,815 |
|                             |     |    W | 1,006,295,120 |     |      | 1,208,748,985 |

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SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES Notes to the Consolidated Financial Statements (In millions of won) December 31, 2023 and 2024

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