Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 583

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 583
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| BTS 2nd Private Equity Fund                                                |     |       |  25,136 |     |           |    742 |     |           |    101 |     |                  | (1,116 | ) |     |             | — |     |             | (1,116 | ) |
| Shinhan Global Active REIT Co. Ltd.                                        |     |       | 191,211 |     |           | 97,944 |     |           |      — |     |                  |   (766 | ) |     |             | — |     |             |   (766 | ) |
| NH-J&-IBKC Label Technology Fund                                           |     |       |  35,347 |     |           |    294 |     |           |     13 |     |                  |   (428 | ) |     |             | — |     |             |   (428 | ) |
| Hanyang Time Mezzanine Fund                                                |     |       |  10,543 |     |           |      — |     |           |    127 |     |                  |     43 |   |     |             | — |     |             |     43 |   |
| Shinhan-isquare Venture PEF 1                                              |     |       |  10,741 |     |           |     25 |     |           |      3 |     |                  |   (528 | ) |     |             | — |     |             |   (528 | ) |
| Capstone Develop Frontier Trust                                            |     |       |  35,305 |     |           |     83 |     |           |  5,942 |     |                  |  5,859 |   |     |             | — |     |             |  5,859 |   |
| Nextrade Co., Ltd.                                                         |     |       | 140,424 |     |           | 19,174 |     |           |  6,626 |     |                  | (8,432 | ) |     |             | — |     |             | (8,432 | ) |

<div align='center'>F-19 8</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 16. |