Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 581

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 581
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     147 |   |     |             | — |     |             |     147 |   |
| H-IOTA Fund                                       |     |       |  38,721 |     |           |   338 |     |           |   966 |     |                  |     564 |   |     |             | — |     |             |     564 |   |
| Stonebridge-Shinhan Unicorn Secondary Fund        |     |       |  28,551 |     |           |     — |     |           |     3 |     |                  |  (6,069 | ) |     |             | — |     |             |  (6,069 | ) |
| Tres-Yujin Trust                                  |     |       |  20,820 |     |           |   102 |     |           |   712 |     |                  |     710 |   |     |             | — |     |             |     710 |   |

<div align='center'>F-1 9 6</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 |         |     |           |         |     |           |        |     |                  |       |   |     |             |   |     |             |       |   |
| Investees                                                                     |     | Asset |         |     | Liability |         |     | Operating 
 revenue   |        |     | Net profit(loss) |       |   |     | Other       
 comprehen-  
 sive income 
 (loss)      |   |     | Total       
 comprehen-  
 sive income 
 (loss)      |       |   |
| Shinhan-Time mezzanine blind Fund                                             |     |     W |  28,243 |     |           |       — |     |           |  2,237 |     |                  | 1,617 |   |     |             | — |     |             | 1,617 |   |
| Capstone REITs No.26                                                          |     |       |  46,661 |     |           |  35,161 |     |           |  9,371 |