Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 598

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 598
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              | — |     |        |      — |   |     |          |  51,873 |
| SH Daegu Green Power Cogeneration System Professional Investment Type Private Special Asset Investment Trust |     |            | 157,954 |   |     |           | 22.02 |     |            |  34,781 |   |     |              | — |     |        |      — |   |     |          |  34,781 |
| SH Sangju YC Expressway Professional Investment Type Private Special Asset Investment Trust                  |     |            |  68,697 |   |     |           | 29.19 |     |            |  20,053 |   |     |              | — |     |        |      — |   |     |          |  20,053 |
| SH Global Infrastructure Professional Investment Type Private Special Asset Investment Trust No.7-2          |     |            |  24,522 |   |     |           | 71.43 |     |            |  17,516 |   |     |              | — |     |        |      — |   |     |          |  17,516 |
| Korea Omega-Shinhan Project Fund I                                                                           |     |            |  23,260 |   |     |           | 50.00 |     |            |  11,630 |   |     |              | — |     |        |      — |   |     |          |  11,630 |
| Samsung SRA Real Estate Professional Private 45                                                              |     |            | 125,727 |   |     |           | 25.00 |     |            |  31,432 |   |     |              | — |     |        |      — |   |     |          |  31,432 |

<div align='center'>F-2 1 3</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 16. | Investments in associates (continued) |

|                                                                                                       |     |       2023 |         |   |     |           |       |     |            |        |   |     |              |   |     |        |       |     |          |        |
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