Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 511

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 511
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         |   |     |                    |         |   |
|                                                  |     | Foreigncurrencyamount |         |     | KRWconvertedamount |         |     | Foreigncurrencyamount |         |   |     | KRWconvertedamount |         |   |
| Foreign currency insurance contract liabilities: |     |                       |         |     |                    |         |     |                       |         |   |     |                    |         |   |
| USD (thousand)                                   |     |                       | 192,052 |     |                    | 247,632 |     |                       | 168,209 |   |     |                    | 247,267 |   |
| EUR (thousand)                                   |     |                       |     124 |     |                    |     177 |     |                       |     119 |   |     |                    |     182 |   |
| VND (million)                                    |     |                       |  94,010 |     |                    |   5,001 |     |                       | (23,242 | ) |     |                    |  (1,341 | ) |
|                                                  |     |                       |         |     |                    | 252,810 |     |                       |         |   |     |                    | 246,108 |   |

<div align='center'>F-1 1 6</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 6. | Insurance Risk (continued) |

vi) Sensitivity to Insurance Risk

The impact of changes in key assumptions on insurance contract liabilities (assets) as of December 31, 2023 and 2024 are as follows:

|                                                   |     |                    |     |                                     2023 |            |     |                                   |            |     |                                    |           |     |                                   |           |     |                                        |         |   |     |                                   |         |   |     |                                    |          |   |     |                                   |          |   |
|                                                   |     |                    |     | Base amount and base amount after change |            |     |                                   |            |     |                                    |           |     |                                   |           |     | Profit and capital impact (before tax) |         |   |     |                                   |         |   |     |                                    |          |