Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 637

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 637
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 |     |       | 527,795 |     |       | 1,331,128 |     |       | 1,664,754 |     |                   | 5,632,638 |     |       | 9,769,333 |

| (*)                                                            |     | 2023 |           |     | 2024 |           |   |
| Cash and amortized cost measurement deposits                   |     |    W |   322,933 |     |      |   294,963 |   |
| Financial assets measured at fair value through profit or loss |     |      | 3,934,491 |     |      | 3,561,126 |   |
| Amortized cost loan receivables                                |     |      |    66,790 |     |      |    32,489 |   |
| derivatives                                                    |     |      |       674 |     |      |      (150 | ) |
| Etc.                                                           |     |      |    81,468 |     |      |    69,608 |   |
|                                                                |     |    W | 4,406,356 |     |      | 3,958,036 |   |

| (*) | As of December 31, 2023 and 2024, the book value of financial assets (liabilities) of variable insurance isW5,940,453million andW5,498,129million. |

<div align='center'>F-25 8</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 28. | Insurance contract liabilities (continued) |

|                                                          |     |                                               |     |                        2023 |          |   |     |                         |        |   |     |                         |         |   |     |       |         |   |
|                                                          |     |                                               |     | Remaining coverage elements |          |   |     |                         |        |   |     | Incurred claim elements |         |   |     | Total |         |   |
|                                                          |     |                                               |     |     Excluding loss recovery 
                   component |          |   |     | Loss recovery component |        |   |     |                         |         |   |     |       |         |   |
| Beginning balance