Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 481

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 481
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     |        |          — |   |     |          |           — |     |       |           — |   |     |           |           — |   |     |       | 218,980,794 |   |
|                                                                       |     | W            | 241,489,989 |     |        |          — |   |     |        |          — |   |     |          |           — |     |       |           — |   |     |           |           — |   |     |       | 241,489,989 |   |
| Derivatives                                                           |     | W            |     453,751 |     |        |    (12,670 | ) |     |        |    (68,634 | ) |     |          |       6,511 |     |       |  (1,847,862 | ) |     |           |    (165,170 | ) |     |       |  (1,634,074 | ) |

| (*1) | These amounts include cash flows of principal and interest on financial assets and financial liabilities. |

| (*2) | Demand deposits amounting toW151,177,041million andW160,031,760million as of December 31, 2023 and 2024 are included in the ‘Less than 1 month’ category, respectively. |

| (*3) | Though guarantees, loan agreements, and other credit offerings provided by the Group exist, if the counterparty requests a payment, the Group should fulfill the obligation immediately. |

<div align='center'>F- 82</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 5. | Financial risk management (continued) |

| (e) | Measurement of fair value |

The fair values of financial instruments being traded in an active market are determined by the published market prices of each period end. The published market prices of financial instruments being held by the Group are based on the trading agencies’ notifications.

If the market for a financial instrument is not active, such as OTC (Over The Counter market) derivatives, fair value is determined either by using a valuation technique or independent third-party valuation service. The Group uses its judgment to select a variety of methods and make rational assumptions that are mainly based on market conditions existing at