Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 534

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 534
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,029,542 |     |                                              |      — |     |                                                   | —        |   |     |                                 |  (11,068 | ) |     |                       |  26,648 |   |     |                                    | —       |   |
| Foreign exchange riskDebentures in foreign currency and loans in foreign currency |     |                             | 2,490,098 |     |                                 | 2,342,230 |     |                                              |      — |     |                                                   | —        |   |     |                                 |   69,784 |   |     |                       | (17,812 | ) |     |                                    | —       |   |
| Hedge of net investments in foreign operations                                    |     |                             |           |     |                                 |           |     |                                              |        |     |                                                   |          |   |     |                                 |          |   |     |                       |         |   |     |                                    |         |   |
| Foreign exchange riskNet assets in foreign operation                              |     |                             |         — |     |                                 |         — |     |                                              |      — |     |                                                   | —        |   |     |                                 |    3,903 |   |     |                       |       — |   |     |                                    | (36,931 | ) |

<div align='center'>F-1 42</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 11. | Derivatives (continued) |

|                                                                                   |     |                        2024 |           |     |                                 |           |     |                                              |        |   |     |                                                   |          |   |     |                                 |         |   |     |                       |        |   |     |                                    |         |
|                                                                                   |     | Carryingamount ofassets (*) |           |     | Carryingamount ofliabilities(*) |           |     | Assets ofCumulativefair valuehedgeadjustment |        |   |     | Liabilities ofCumulativefair valuehedgeadjustment |          |   |     | Changes offair valuein the year |         |   |     | Cash flowhedgereserve |        |   |     | Foreigncurrencytranslationreserves |         |
| Fair value hedges                                                                 |     |                             |