Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 622

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 622
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,590 |   |     |           |  406 |   |     |       | 395,589 |   |

| (*) | Others include effects of the provision from the new financial guarantee contracts measured at fair value, and the expired contracts, the change of discount rate and others. |

<div align='center'>F-2 40</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 27. | Provisions (continued) |

|                                                   |     |                      2024 |         |   |     |                     |         |   |     |           |        |   |     |                                      |        |   |     |                              |        |   |     |           |      |   |     |       |         |
|                                                   |     | Unused credit commitments |         |   |     |                     |         |   |     |           |        |   |     | Financial guarantee contracts issued |        |   |     |                              |        |   |     |           |      |   |     | Total |         |
|                                                   |     |                 12 months 
       expectedcredit loss |         |   |     | Life time           
 expectedcredit loss |         |   |     | Impaired  
 financial 
 asset     |        |   |     | 12 months                            
 expected                             
 credit loss                          |        |   |     | Life timeexpectedcredit loss |        |   |     | Impaired  
 financial 
 asset     |      |   |     |       |         |
| Beginning balance                                 |     |                         W | 206,687 |   |     |                     | 129,182 |   |     |           | 19,722 |   |     |                                      | 32,002 |   |     |                              |  7,590 |   |     |           |  406 |   |     |       | 395,589 |
| Transfer (from) to 12 months expected credit loss |     |                           |  68,071 |   |     |                     | (67,931 | ) |     |           |   (140 | ) |     |                                      |  4,968 |   |     |                              | (4,968 | ) |     |           |    — |   |     |       |       — |