Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 402

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 402
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     | 100.0 |
| ”                                  |     | PT. Shinhan Sekuritas Indonesia             |     | Indonesia  |     |                           ” |     |               |  99.0 |      |     |  99.0 |
| PT Shinhan Sekuritas Indonesia     |     | PT. Shinhan Asset Management Indonesia (*3) |     | Indonesia  |     |                           ” |     |               |  75.0 |      |     |     — |
| Shinhan Life Insurance Co., Ltd.   |     | Shinhan Financial Plus Co., Ltd.            |     | Korea      |     |                           ” |     |               | 100.0 |      |     | 100.0 |
| ”                                  |     | Shinhan LifeCare Co., Ltd.                  |     | ”          |     |                           ” |     |               | 100.0 |      |     | 100.0 |
| ”                                  |     | Shinhan Life Insurance Vietnam Co., Ltd.    |     | Vietnam    |     |                           ” |     |               | 100.0 |      |     | 100.0 |
| Shinhan Asset Management Co., Ltd. |     | SHINHAN ASSET MGT HK, LIMITED (*4)          |     | Hong Kong  |     |                           ” |     |               | 100.0 |      |     |     — |
| Shinhan DS                         |     | SHINHAN DS VIETNAM CO., LTD.                |     | Vietnam    |     |                           ” |     |               | 100.0 |      |     | 100.0 |

| (*1) | Subsidiaries such as trust, beneficiary certificate, special purpose company, partnerships and private equity fund which are not actually operating their own business are excluded. |

| (*3) | As of August 30, the entire stock was sold, and it was excluded from the consolidated subsidiaries. |

<div align='center'>F-1 8</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 1. | Reporting entity (continued) |

| (c) | Consolidated structured entities |

Consolidated structured entities are as follows:

| Category                    |     | Consolidated structured entities