Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 673

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 673
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 case in which 23 plaintiffs, including mutual finance companies, claim the loan principal and interest, due to the failure to fulfill the responsibilities for completing the construction by Shinhan Asset Trust.                                                              |     | The first trial is ongoing as of December 31, 2024 |

<div align='center'>F- 30 5</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 47. | Commitments and contingencies (continued) |

| Case                                                                                                      |     |   Number 
 of claim |     | Claim  
 amount |           |     | Description                                                                                                               |     | Status                                             |
| Loss claims regarding responsibility for construction completion in a management-type land trust (others) |     |        6 |     | W      |    45,605 |     | Claims for losses due to the failure to fulfill construction completion responsibilities in a management-type land trust. |     | The first trial is ongoing as of December 31, 2024 |
| Others                                                                                                    |     |    1,091 |     |        |   778,132 |     | Includes various cases, such as compensation for loss claim.                                                              |     |                                                    |
|                                                                                                           |     |    1,106 |     | W      | 1,190,630 |     |                                                                                                                           |     |                                                    |

As of the December 31, 2024, the Group has recorded W 114,750 million and W 5,450 million, respectively, as provisions and incurred claims element of insuranc e contract liabilities for litigations, etc., which are for the lawsuits ruled against in the first trial. The outcome of the remaining litigations other than those accounted for provisions, etc. are not expected to have a material impact on the consolidated financial statements, but additional losses may result from future litigation.

| (c) | As a Prime Brokerage Service operator, the Group entered into a total return swap agreement (“TRS”, derivatives that exchange profits and losses from underlying assets such as stocks, bonds and funds) with a fund operated by Lime Asset Management (“Lime Fund”). Through TRS with the Group, the Lime Fund invested approximately $200 million in IIG Global Trade Finance Fund, IIG Trade Finance Fund, and IIG Trade FinanceFund-FXHedge (“IIG Fund