Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 553

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 553
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           |      |         | Korea |     |      | December 31  |     |               | 20.83 |     | 20.83 |
| VOGO Debt Strategy General Private Real Estate Investment Trust No. 18     |      |         | Korea |     |      | December 31  |     |               | 28.57 |     | 28.57 |
| Koramco IPO LEITS Mezzanine General Private Investment Trust No. 38 (*4)   |      |         | Korea |     |      | December 31  |     |               | 75.00 |     | 75.00 |
| TogetherKorea Private Investment Trust No. 6 (*6)                          |      |         | Korea |     |      | December 31  |     |               | 99.98 |     | 99.98 |
| TogetherKorea Private Investment Trust No. 7 (*6)                          |      |         | Korea |     |      | December 31  |     |               | 99.98 |     | 99.98 |
| Kiwoom Core Industrial Technology Investment Fund No.3                     |      |         | Korea |     |      | December 31  |     |               | 34.75 |     | 34.75 |
| Penture K-Content Investment Fund (*7)                                     |      |         | Korea |     |      | December 31  |     |               | 21.96 |     | 19.78 |
| 2023 Shinhan-JB Woori-Daeshin Listed Companies New Technology Fund         |      |         | Korea |     |      | December 31  |     |               | 30.00 |     | 30.00 |

<div align='center'>F-16 7</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 16. | Investments in associates (continued) |

| Investees                                                                                       |      | Country |       |     |      | Reporting   
 Date        |     | Ownership (%) |        |     |        |
|                                                                                                 | 2023 |         |       |     | 2024 |             |     |               |        |     |        |
| Hana Alternative Investment Kosmes