Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 521

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 521
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 |     85,198 |
| Shinhan EZ General Insurance Co., Ltd. |     |         |     261,204 |     |           |     131,875 |     |         |    129,329 |     |         |     289,867 |     |           |     178,573 |     |         |    111,294 |

| (*1) | The consolidated financial statements of the consolidated subsidiaries are based on consolidated financial statements, if applicable. |

| (*2) | Trusts, beneficiary certificates, securitization special limited liability companies, associates and private equity investment specialists that are not actually operating their own business are excluded. |

| (*3) | Shinhan AI Co., Ltd. was liquidated in the current period. |

<div align='center'>F-1 2 5</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 7. | Investment in subsidiaries (continued) |

(b) The summarized income information of the controlling company and the Group’s major subsidiaries for the years ended December 31, 2022, 2023 and 2024 are as follows:

|                                             |     |      2022 |            |     |             |           |   |     |               |           |   |     |      2023 |            |     |             |           |   |     |               |           |   |     |      2024 |            |     |             |           |   |     |               |            |   |
| Investees (*1), (*2)                        |     | Operating 
   Revenue |            |     | Net         
 Income (*3) |           |   |     | Comprehensive 
 Income (*3)   |           |   |     | Operating 
   Revenue |            |     | Net         
 Income (*3) |           |   |     | Comprehensive 
 Income (*3)   |           |   |     | Operating 
   Revenue |            |     | Net         
 Income (*3) |           |   |     | Comprehensive 
 Income (*3)   |            |   |
| Shinhan Financial Group (separate)          |     |         W |  1,806,604 |     |             | 1,249,251 |   |     |               |