Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 532

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 532
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| Nominal values:              |     |           |         — |   |     |       |         — |   |     |       |    18,750 |   |     |       |         — |   |     |       |         — |   |     |                  |         — |   |     |       |     18,750 |   |
| Average hedge ratio:         |     |           |         — |   |     |       |         — |   |     |       |       100 | % |     |       |         — |   |     |       |         — |   |     |                  |         — |   |     |       |        100 | % |

| (*1) | Interest rate swaps consist of 3M CD, USD SOFR, 3M Euribor, and 3M AUD Bond. |

| (*2) | The average exchange rates of net investment hedge instruments are USD/KRW1,280.52, JPY/KRW9.25, EUR/KRW1,402.37, GBP/KRW1,561.57, AUD/KRW892.94, CAD/KRW991.06, CNY/KRW189.50, SEK/KRW127.54. |

| (*3) | The equity option, which has an exercise price ofW324,027. |

<div align='center'>F-1 40</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 11. | Derivatives (continued) |

| iii) | Effect of hedging derivatives on the consolidated statement of financial position, statement of comprehensive income, statement of changes in equity. |

|                                                |     |          2023 |            |     |                            |         |     |                                 |           |     |                                   |         |   |
|                                                |     | Nominalamount |            |     | Carryingamount of asset(*) |         |     | Carrying amountof liability (*) |           |     | Changes in fairvalue in theperiod |         |   |
| Fair value hedges                              |     |               |            |     |                            |         |     |                                 |           |     |                                   |         |   |
| Interest rate forward and swap                 |     |             W | 10,