Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 592

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 592
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 |    984 |   |     |             | — |     |             |    984 |   |
| Shinhan-Gene and New Normal First Mover Venture Investment Equity Fund 1st |     |       | 13,899 |     |           |    383 |     |           |     8 |   |     |                  |   (420 | ) |     |             | — |     |             |   (420 | ) |
| Korea Investment Green Newdeal Infra Trust No.1                            |     |       | 57,567 |     |           |     25 |     |           |     — |   |     |                  |   (441 | ) |     |             | — |     |             |   (441 | ) |
| BTS 2nd Private Equity Fund                                                |     |       | 39,434 |     |           |    359 |     |           |   527 |   |     |                  |     81 |   |     |             | — |     |             |     81 |   |

<div align='center'>F-2 0 7</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) |

|                                                                        |     |  2024 |         |     |           |       |     |           |         |   |     |                  |         |   |     |             |   |     |             |         |   |
| Investees                                                              |     | Asset |         |     | Liability |       |     | Operating 
 revenue   |         |   |     | Net profit(loss) |         |   |     | Other       
 comprehen-  
 sive income 
 (loss)      |   |     | Total       
 comprehen-  
 sive income 
 (loss)      |         |   |
| NH-J&-IBKC Label Technology Fund                                       |     |     W |  35,111 |     |           |   425 |     |           |       6 |   |     |                  |    (363 | ) |     |             | — |     |             |    (363 | ) |
| Hanyang Time Mezzanine Fund                                            |     |       |   8,790 |