Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 580

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 580
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 8,970 |     |                  |   8,456 |   |     |             | — |     |             |   8,456 |   |
| SHBNPP Green New Deal Energy Professional Investment Type Private Special Asset Investment Trust No.2 |     |       |  77,888 |     |           |      34 |     |           |  3,376 |     |                  |   2,913 |   |     |             | — |     |             |   2,913 |   |
| SIMONE Mezzanine Fund No.3                                                                            |     |       |   4,179 |     |           |       3 |     |           |  2,625 |     |                  |     521 |   |     |             | — |     |             |     521 |   |
| Eum Private Equity Fund No.7                                                                          |     |       |  43,658 |     |           |       6 |     |           |    632 |     |                  |     (19 | ) |     |             | — |     |             |     (19 | ) |
| Kiwoom Hero No.4 Private Equity Fund                                                                  |     |       |  16,580 |     |           |     228 |     |           |    356 |     |                  |    (356 | ) |     |             | — |     |             |    (356 | ) |
| Vogo Canister Professional Trust Private Fund I                                                       |     |       | 249,535 |     |           | 124,697 |     |           | 19,630 |     |                  |   7,122 |   |     |             | — |     |             |   7,122 |   |

<div align='center'>F-1 9 5</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 |       |