Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 676

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 676
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 5,551 |   |
| Accounts payable for purchase of intangible assets, etc.          |     |      | 117,743 |     |      | 374,685 |     |      | (132,270 | ) |
| Transaction forright-of-useassets                                 |     |    W | 293,590 |     |      | 299,672 |     |      |  578,651 |   |

<div align='center'>F-30 8</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 48. | Statement of cash flows (continued) |

|                                                       |     |                  2023 |          |   |     |            |            |   |     |                      |            |     |                  |          |   |     |                                        |         |   |     |       |             |   |
|                                                       |     |                   Net 
 Derivativeliabilities |          |   |     | Borrowings |            |   |     | Debtsecuritiesissued |            |     | Leaseliabilities |          |   |     | Financialliabilitiesdesignatedat FVTPL |         |   |     | Total |             |   |
| Beginning balance                                     |     |                     W |  531,934 |   |     |            | 49,279,175 |   |     |                      | 77,288,783 |     |                  |  623,339 |   |     |                                        |  47,327 |   |     |       | 127,770,558 |   |
| Changes from cash flows                               |     |                       |   79,563 |   |     |            |  8,153,087 |   |     |                      |  3,865,582 |     |                  | (262,055 | ) |     |                                        | 209,969 |   |     |       |  12,046,146 |   |
| Changes fromnon-cashflows                             |     |                       |          |   |     |            |            |   |     |                      |            |     |                  |          |   |     |                                        |         |   |     |       |             |   |
| Amortization of discount on borrowings and debent