Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 584

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 584
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684 |     |           |   121 |     |           |   785 |     |                  |    438 |   |     |             | — |     |             |    438 |   |
| Hana Alternative Investment Kosmes PCBO General PEF No. 1                             |     |       | 13,806 |     |           |    15 |     |           | 1,007 |     |                  |    992 |   |     |             | — |     |             |    992 |   |
| Shinhan-timefolio Bio Development Investment Fund                                     |     |       | 12,420 |     |           |   170 |     |           |    23 |     |                  |   (150 | ) |     |             | — |     |             |   (150 | ) |
| Shinhan M&A-ESG Fund                                                                  |     |       | 18,154 |     |           |   285 |     |           |    31 |     |                  |   (791 | ) |     |             | — |     |             |   (791 | ) |
| Shinhan SM Office Value Add – Outsource Management Real Estate Investment Co., Ltd. – |     |       | 37,231 |     |           |    41 |     |           | 3,710 |     |                  |  3,548 |   |     |             | — |     |             |  3,548 |   |

<div align='center'>F-19 9</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) |

|                                                                                            |     |  2023 |         |     |           |         |     |           |        |     |                  |        |   |     |             |   |     |             |        |   |
| Investees                                                                                  |     | Asset |         |     | Liability |         |     | Operating 
 revenue   |        |     | Net profit(loss) |        |   |     | Other       
 comprehen-  
 sive income 
 (loss)      |   |     | Total       
 comprehen-  
 sive income 
 (loss)      |        |   |
| KDBC meta