Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 596

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 596
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     |           | 418,113 |     |           |  2,206 |   |     |                  |   (155 | ) |     |             | — |     |             |   (155 | ) |
| Shinhan Securities HIFI Bond SafeR 2Y Private Fund No.18                |     |       | 1,045,465 |     |           | 826,940 |     |           | (1,922 | ) |     |                  | (4,905 | ) |     |             | — |     |             | (4,905 | ) |
| Shinhan Securities HIFI Bond SafeR 2Y Private Fund No.19                |     |       |   523,914 |     |           | 422,896 |     |           |  5,962 |   |     |                  |  5,122 |   |     |             | — |     |             |  5,122 |   |
| SH US Buyback&High Dividend Security Feeder Investment Trust(H)[Equity] |     |       |    18,870 |     |           |     109 |     |           |  7,131 |   |     |                  |  3,895 |   |     |             | — |     |             |  3,895 |   |

| (*) | Excluded the financial information of associates that are not subject to equity method due to disposal or of which the financial information is not available as of end of the year. |

F-2 11

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 |         |   |     |           |       |     |            |         |   |     |              |    |   |     |        |        |     |          |        |
| Investees                                                                             |     | Net assets 
        (a) |         |   |     | Ownership 
 (%)       
 (b)       |       |     | Interests  
 in the net 
 assets     
 (a)*(b)    |         |   |     | Intra-group  
 transactions |    |   |     | Others |        |     | Carrying