Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 623

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 623
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 |       |          |   |
|                                 |     |      Asset 
 retirement |        |   |     | Litigation |         |   |     | Guarantee |        |   |     | Others |          |   |     | Total |          |   |
| Beginning balance               |     |          W | 99,927 |   |     |            |  31,371 |   |     |           | 23,163 |   |     |        |  819,616 |   |     |       |  974,077 |   |
| Provision (reversal)            |     |            |    957 |   |     |            |  83,862 |   |     |           | (8,471 | ) |     |        |  293,407 |   |     |       |  369,755 |   |
| Provision used                  |     |            | (7,282 | ) |     |            |    (483 | ) |     |           |      — |   |     |        | (533,232 | ) |     |       | (540,997 | ) |
| Change in foreign exchange rate |     |            |      — |   |     |            |       — |   |     |           |  2,412 |   |     |        |     (483 | ) |     |       |    1,929 |   |
| Others (*)                      |     |            |  5,704 |   |     |            |       — |   |     |           |    259 |   |     |        |     (194 | ) |     |       |    5,769 |   |
| Ending balance                  |     |          W | 99,306 |   |     |            | 114,750 |   |     |           | 17,363 |   |     |        |  579,114 |   |     |       |  810,533 |   |

| (*) | Others include increase in provisions based on the present value, the effect of changes in discount rate over the period and others. |

<div align='center'>F-2 41</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 27. | Pro