Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 512

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 512
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,851,054 |     |                                        |  (5,856 | ) |     |                                   |  (5,856 | ) |     |                                    |   29,725 |   |     |                                   |   29,725 |   |

<div align='center'>F-11 7</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 6. | Insurance Risk (continued) |

|                                                   |     |                    |     |                                     2024 |            |     |                                   |            |     |                                    |           |     |                                   |           |     |                                        |         |   |     |                                   |         |   |     |                                    |          |   |     |                                   |         |   |
|                                                   |     |                    |     | Base amount and base amount after change |            |     |                                   |            |     |                                    |           |     |                                   |           |     | Profit and capital impact (before tax) |         |   |     |                                   |         |   |     |                                    |          |   |     |                                   |         |   |
|                                                   |     |                    |     |              Fulfillment cash flows (*2) |            |     |                                   |            |     | Contractual service margin         |           |     |                                   |           |     | Profit(loss) (*3)                      |         |   |     |                                   |         |   |     | Other comprehensive income         |          |   |     |                                   |         |   |
|                                                   |     | Sensitivity (*1)   |     |       Before reflectingreinsuranceeffect |            |     | After reflectingreinsuranceeffect |            |     | Before reflectingreinsuranceeffect |           |     | After reflectingreinsuranceeffect |           |     | Before reflectingreinsuranceeffect     |         |   |     | After reflectingreinsuranceeffect |         |   |     | Before reflectingreinsuranceeffect |          |   |     | After reflectingreinsuranceeffect |         |   |
| Base amount                                       |     |                    |     |                                        W | 39,380,251 |     |                                   | 39,819,864 |     |                                    | 7,224,114 |     |                                   | 6,869,326 |     |                                        |       — |