Company: SHG
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0001193125-25-089950
Chunk: 528

Company: SHINHAN FINANCIAL GROUP CO LTD
Filing Date: 2025-04-23
Form: 20-F
Chunk 528
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 10,952,283 |
| Commodity related:               |     |      |             |     |      |             |
| Over the counter:                |     |      |             |     |      |             |
| Commodity swaps and forwards     |     |      |   1,034,225 |     |      |   2,121,686 |
| Commodity options                |     |      |       8,000 |     |      |           — |
|                                  |     |      |   1,042,225 |     |      |   2,121,686 |
| Exchange traded:                 |     |      |             |     |      |             |
| Commodity futures and options    |     |      |      93,004 |     |      |     172,899 |
|                                  |     |      |   1,135,229 |     |      |   2,294,585 |

<div align='center'>F-1 3 4</div>

SHINHAN FINANCIAL GROUP CO., LTD. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(In millions of won)

December 31, 2023 and 2024

| 11. | Derivatives (continued) |

|                                  |     | 2023 |             |     | 2024 |             |
| Hedge:                           |     |      |             |     |      |             |
| Currency forwards                |     |      |   2,142,233 |     |      |   4,345,149 |
| Currency swaps                   |     |      |   4,448,030 |     |      |   7,993,851 |
| Interest rate forwards and swaps |     |      |  12,469,580 |     |      |  13,219,417 |
| Equity options                   |     |      |           — |     |      |      18,750 |
|                                  |     |      |  19,059,843 |     |      |  25,577,167 |
|                                  |     |    W | 367,022,470 |     |      | 480,094,055 |

| (*) | The notional amounts of derivatives outstanding that will be settled in the ‘Central Counter Party (CCP)’ system. |

|                                  |     |   2023 |