Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 606

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 606
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              | — |     |        |      — |     |          |  5,683 |
| Shinhan VC tomorrow venture fund 1                                                                    |     |            | 178,267 |     |           | 39.62 |     |            |  70,633 |   |     |              | — |     |        |      — |     |          | 70,633 |
| H-IOTA Fund                                                                                           |     |            |  37,789 |     |           | 24.81 |     |            |   9,377 |   |     |              | — |     |        |      — |     |          |  9,377 |
| Stonebridge-Shinhan Unicorn Secondary Fund                                                            |     |            |  52,230 |     |           | 26.01 |     |            |  13,587 |   |     |              | — |     |        |      — |     |          | 13,587 |
| Tres-Yujin Trust                                                                                      |     |            |  26,062 |     |           | 50.00 |     |            |  13,031 |   |     |              | — |     |        |      — |     |          | 13,031 |

<div align='center'>F-2 21</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) |

|                                                                               |     |       2024 |         |     |           |       |     |            |        |     |              |   |     |        |        |   |     |          |        |
| Investees                                                                     |     | Net assets 
        (a) |         |     | Ownership 
 (%)       
 (b)       |       |     | Interests  
 in the net 
 assets     
 (a)*(b)    |        |     | Intra-group  
 transactions |   |     | Others |        |   |     | Carrying 
 amount   |        |
| Shinhan-Time mezzanine blind Fund                                             |     |          W |  32,851 |     |           | 50.00 |     |            | 16,426 |     |              | — |