Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 609

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 609
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5,052 |
| SH US Buyback&High Dividend Security Feeder Investment Trust(H)[Equity] |     |            |  18,761 |     |           | 22.37 |     |            |  4,197 |     |              | — |     |        | — |     |          |  4,197 |

| (*1) | Others represents the adjustments of fair value when acquired. |

| (*2) | Others are the amount of fair value adjustments that occurred at the time of acquisition and accumulated losses that were not recognized due to the suspension of equity method recognition as the investment account balance became “0” due to the accumulation of losses for the current period. |

| (*3) | Others are the unrecognized equity method for preferred stocks without voting rights issued by the investee. |

| (*4) | Others correspond to the goodwill recognized at the time of acquisition. |

F-2 2 5

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                                                  |     | Unrecognized equitymethod losses |         |   |     | Cumulative unrecognizedequity method losses |         |   |
| MIEL CO., LTD.                                             |     |                                W |       — |   |     |                                             | (41     | ) |
| Shinhan Global Healthcare Fund 1                           |     |                                  |      61 |   |     |                                             | (153    | ) |
| Shinhan Global Healthcare Fund 2                           |     |                                  |      75 |   |     |                                             | (21     | ) |
| EDNCENTRAL Co., Ltd.                                       |     |                                  |  (4,679 | ) |     |                                             | (5,677  | ) |
| Kiwoom Milestone Professional Private Real Estate Trust 19 |     |                                  | (19,433 | ) |     |                                             | (19,433 | ) |
|                                                            |     |                                W | (23,976 | ) |     |                                             | (25,325 | ) |

|                                                            |     |                             2024 |        |   |     |                                             |