Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 453

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 453
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3 |     |    |     |   2.1 |     |   2.0 |     |   1.8 |
| Facility investment growth rate (YoY %)          |    |                                | -- |     |    |         |   4.9 |     |    |      |   4.0 |     |    |     |   5.8 |     |   0.8 |     |   2.5 |
| Consumer price index growth rate (%)             |    |                                | -+ |     |    |         |   1.6 |     |    |      |   1.9 |     |    |     |   2.1 |     |   2.1 |     |   2.0 |
| Balance on current account (100 million dollars) |    |                                | -- |     |    |         | 200.0 |     |    |      | 190.0 |     |    |     | 170.0 |     | 160.0 |     | 180.0 |
| Government bond 3y yields (%)                    |    |                                | —  |     |    |         |   2.8 |     |    |      |   2.9 |     |    |     |   2.9 |     |   3.0 |     |   2.9 |

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

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 5. | Financial risk management (continued) |

③ Downside scenario

| Major variables (*1),(*2),(*3)                   |    | Correlation         
 betweencredit risks |     | 2024.4Q |       |     | 2025 |       |     |       |     |       |     |       |
|                                                  | 1Q |                     |     |         |    2Q |     |      |    3Q |     |    4Q |     |       |     |       |
| GDP growth rate (YoY %)                          |    | --                  |     |         |   2.1 |     |      |   0.8 |     |