Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 619

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 619
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 |     | 2023 |           |     | 2024 |           |
| Plan assets comprise: |     |      |           |     |      |           |
| Debt securities       |     |    W |     5,002 |     |      |    38,634 |
| Due from banks        |     |      | 2,044,101 |     |      | 2,046,507 |
| Others                |     |      |   217,145 |     |      |   376,730 |
|                       |     |    W | 2,266,248 |     |      | 2,461,871 |

<div align='center'>F-23 8</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 26. | Defined benefit plans (continued) |

|                             |     |           2023 |     |           2024 |     | Description               |
| Discount rate               |     |    4.00%~5.20% |     |    3.45%~4.66% |     | AA0 corporate bond yields |
| Future salary increase rate |     | + Upgrade rate |     | + Upgrade rate |     | Average for 5 years       |
| Weighted average maturity   |     |     11.50years |     |     11.00years |     |                           |

| (e) | Sensitivity analysis |

As of December 31, 2023 and 2024, reasonably possible changes in one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below.

|                                            |     |                       2023 |          |   |     |          |          |   |
|                                            |     | Defined benefit obligation |          |   |     |          |          |   |
|                                            |     |                   Increase |          |   |     | Decrease |          |   |
| Discount rate (1%p movement)               |     |                          W | (190,760 | ) |     |          |  205,916 |   |
| Future salary increase rate (1%p movement) |     |                            |  209,531 |   |     |          | (196,909