# EDGAR Filing Document

**Accession Number:** 0001264136
**File Stem:** 0001193125-23-071882
**Filing Date:** 2023-3
**Character Count:** 77694
**Document Hash:** 1dd1d4890c085a8939725e7b27a13e1a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-071882.hdr.sgml**: 20230316

**ACCESSION NUMBER**: 0001193125-23-071882

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230316

**FILED AS OF DATE**: 20230316

**DATE AS OF CHANGE**: 20230316

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WOORI FINANCIAL GROUP INC.
- **CENTRAL INDEX KEY:** 0001264136
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** M5
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-31811
- **FILM NUMBER:** 23737048

**BUSINESS ADDRESS:**
- **STREET 1:** 51, SOGONG-RO, JUNG-GU,
- **CITY:** SEOUL KOREA
- **STATE:** M5
- **ZIP:** 04632
- **BUSINESS PHONE:** 000-000-0000

**MAIL ADDRESS:**
- **STREET 1:** 51, SOGONG-RO, JUNG-GU,
- **CITY:** SEOUL KOREA
- **STATE:** M5
- **ZIP:** 04632

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WOORI BANK
- **DATE OF NAME CHANGE:** 20141015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WOORI FINANCE HOLDINGS CO LTD
- **DATE OF NAME CHANGE:** 20030917

##### [**Table of Contents**](#toc)

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**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**Form 6-K** 

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**REPORT OF FOREIGN PRIVATE ISSUER** 

**PURSUANT TO RULE 13a-16 OR 15d-16 UNDER** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**For the month of <u>March 2023</u>** 

**Commission File Number: 001-31811** 

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## Woori Financial Group Inc.
**(Translation of registrant's name into English)** 

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**51, Sogong-ro, Jung-gu, Seoul, 04632, Korea** 

**(Address of principal executive office)** 

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Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

*Note:* Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

*Note:* Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

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##### [**Table of Contents**](#toc)
**Index** 

**1.** **[Summary of 2022 Business Report](#tx846064_28)** 

**For the Audit Reports of Woori Financial Group for Fiscal Year 2022, please refer to the exhibits to the Form 6-K furnished to the U.S. Securities and Exchange Commission on March 7, 2023.** <br>

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##### [**Table of Contents**](#toc)
**<u>Summary of 2022 Business Report</u>** 

**Table of Contents** 

---

| | | | |
|:---|:---|:---|:---|
| I. | [INTRODUCTION OF THE COMPANY](#tx846064_1) | [INTRODUCTION OF THE COMPANY](#tx846064_1) | 5 |
|  | 1. | [Overview of the Company](#tx846064_2) | 5 |
|  | 2. | [Capital Structure (Changes in Capital)](#tx846064_3) | 10 |
|  | 3. | [Total Number of Authorized Shares](#tx846064_4) | 11 |
| II. | [BUSINESS OVERVIEW](#tx846064_5) | [BUSINESS OVERVIEW](#tx846064_5) | 12 |
|  | 1. | [Results of Operations](#tx846064_6) | 12 |
|  | 2. | [Funding Sources and Uses of Funds](#tx846064_7) | 12 |
|  | 3. | [Other Information Necessary for Making Investment Decisions](#tx846064_8) | 13 |
| III. | [FINANCIAL INFORMATION](#tx846064_9) | [FINANCIAL INFORMATION](#tx846064_9) | 17 |
|  | 1. | [Condensed Financial Statements (Consolidated)](#tx846064_10) | 17 |
|  | 2. | [Condensed Financial Statements (Separate)](#tx846064_11) | 19 |
|  | 3. | [Dividend Information](#tx846064_12) | 21 |
| IV. | [INDEPENDENT AUDITOR'S OPINION](#tx846064_13) | [INDEPENDENT AUDITOR'S OPINION](#tx846064_13) | 22 |
|  | 1. | [Independent Auditor's Opinion](#tx846064_14) | 22 |
|  | 2. | [Compensation to the Independent Auditor](#tx846064_15) | 22 |
| V. | [CORPORATE GOVERNANCE](#tx846064_16) | [CORPORATE GOVERNANCE](#tx846064_16) | 24 |
|  | 1. | [About the Board of Directors](#tx846064_17) | 24 |
|  | 2. | [Shareholder's Meeting](#tx846064_18) | 26 |
| III. | [SHAREHOLDER INFORMATION](#tx846064_19) | [SHAREHOLDER INFORMATION](#tx846064_19) | 29 |
|  | 1. | [Share Distribution](#tx846064_20) | 29 |
|  | 2. | [Stock Price and Stock Market Performance](#tx846064_21) | 30 |
| IV. | [DIRECTORS AND EMPLOYEE INFORMATION](#tx846064_22) | [DIRECTORS AND EMPLOYEE INFORMATION](#tx846064_22) | 32 |
|  | 1. | [Directors and Executives](#tx846064_23) | 32 |
|  | 2. | [Employee Status](#tx846064_24) | 32 |
|  | 3. | [Directors' Compensation](#tx846064_25) | 33 |

---

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##### [**Table of Contents**](#toc)
Except where indicated otherwise, financial information contained in this document (including the attached financial statements) has been prepared in accordance with the Korean equivalent of International Financial Reporting Standards ("Korean IFRS"), which differ in certain important respects from generally accepted accounting principles in the United States.

All references to "Woori Financial Group," "we," "us" or the "Company" are to Woori Financial Group Inc. and, unless the context requires otherwise, its subsidiaries. In addition, all references to "Won" or "KRW" in this document are to the currency of the Republic of Korea.

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##### [**Table of Contents**](#toc)
**I.** **Introduction of the Company** 

**1.** **Overview of the Company** 

**a.** **History** 

---

| | |
|:---|:---|
| January 11, 2019 | Establishment of the Company pursuant to a comprehensive stock transfer, by which Woori Bank, Woori FIS, Woori Finance Research Institute, Woori Credit Information, Woori Fund Services and Woori Private Equity Asset Management became wholly-owned subsidiaries of the Company. |
| February 13, 2019 | Listed on the Korea Exchange (KRX). |
| April 5, 2019 | Entered into share purchase agreements to acquire Tongyang Asset Management Corp. and ABL Global Asset Management Co., Ltd. |
| June 21, 2019 | Entered into a purchase agreement with Woori Bank to acquire the common shares of Woori Investment Bank Co., Ltd. ("Woori Investment Bank") and integrate Woori Investment Bank as a first-tier subsidiary of the Company (Buyer: Woori Financial Group, Seller: Woori Bank) |
| July 3, 2019 | Entered into a stock exchange agreement between the Company and Woori Card Co., Ltd ("Woori Card") to integrate Woori Card as a first-tier subsidiary of the Company |
| July 25, 2019 | Entered into a share purchase agreement to acquire Kukje Asset Trust, Ltd. |
| August 1, 2019 | Integrated Woori Asset Management Corp. (formerly known as Tongyang Asset Management Co., Ltd.) as a first-tier subsidiary of the Company. |
| September 10, 2019 | Integrated Woori Card and Woori Investment Bank as first-tier subsidiaries of the Company. |
| September 26, 2019 | Disposed 4% of common shares of the Company held by Woori Bank to a Taiwanese company, Fubon Life Insurance Co., Ltd. |
| December 6, 2019 | Integrated Woori Global Asset Management Corp. as a first-tier subsidiary of the Company |
| December 30, 2019 | Integrated Woori Asset Trust Ltd. as a first-tier subsidiary of the Company |
| March 25, 2020 | Held the first annual general meeting of shareholders of Woori Financial Group; reappointed the Chief Executive Officer |

---

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##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| October 26, 2020 | Entered into a share purchase agreement to acquire Aju Capital Co., Ltd. |
| December 10, 2020 | Integrated Woori Financial Capital Co., Ltd., (formerly known as Aju Capital Co., Ltd.) as a first-tier subsidiary of the Company |
|  | Integrated Woori Savings Bank (formerly known as Aju Savings Bank) as a second-tier subsidiary of the Company |
| January 15, 2021 | Joined the Carbon Disclosure Project (CDP), announced support for the Task force on Climate related Financial Disclosure (TCFD) and established the ESG management principles of Woori Financial Group |
| March 5, 2021 | Established the Board ESG Management Committee |
| March 12, 2021 | Integrated Woori Savings Bank as a first-tier subsidiary of the Company |
| April 9, 2021 | After-hours trading of a 2% stake in Woori Financial Group held by the Korea Deposit Insurance Corporation |
| April 15, 2021 | Purchased additional equity shares of Woori Financial Capital Co., Ltd., increasing the Company's equity ownership by 12.9% |
| May 13, 2021 | Participated in the capital increase of Woori Savings Bank (KRW 100 billion) |
| May 24, 2021 | Purchased 3.6% of Woori Financial Capital Co., Ltd. in treasury shares |
| June 4, 2021 | Entered into a stock exchange agreement to acquire the remaining shares of Woori Financial Capital Co., Ltd. |
| August 10, 2021 | Integrated Woori Financial Capital Co., Ltd., as a wholly-owned subsidiary of the Company (Completion of stock exchange) |
| September 9, 2021 | Announcement of contemplated sales of the remaining stake in Woori Financial Group held by the Korea Deposit Insurance Corporation |
| October 8, 2021 | Joined the SBTi (Science Based Targets initiative) as part of the roadmap for achieving carbon neutrality |
| November 2, 2021 | Obtained regulatory approval for using the IRB (Internal Rating Based) approach |
| November 9, 2021 | Obtained 'AA' rating from MSCI ESG assessment(2 grades higher than the previous year), 'A' rating from KCGS(Korea Corporate Governance Service)(1 grade higher than the previous year) |

---

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##### [**Table of Contents**](#toc)

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| | |
|:---|:---|
| November 17, 2021 | Included newly in Asia Pacific Index of DJSI(Dow Jones Sustainability Indices) |
| December 9, 2021 | Achieved practically full privatization through the decrease of the KDIC'S stake in us from 15.1% to 5.8%, changing the largest shareholder from the KDIC to the Employee Stock Ownership Association of Woori Financial Group |
| December 26, 2021 | Launched the Group integrated car finance platform "Woori WON Car" |
| January 7, 2022 | Officially launched the NPL investment company Woori Financial F&I Inc. |
| January 13, 2022 | Joined the global environment initiative Taskforce on Nature-related Financial Disclosures (TNFD) |
| February 4, 2022 | Recognized as an 'Industry Mover' in a sustainability assessment by S&P Global for 2022 |
| February 10, 2022 | Disposal by the Korea Deposit Insurance Corporation of a 2.2% stake in Woori Financial Group (reducing the KDIC's stake in Woori Financial Group from 5.8% to 3.6%) |
| May 11, 2022 | Became the first company in the world to join the launch of the 'Business for Land (B4L) Initiative' for the protection of sustainable forests and the recovery of land degradation |
| May 18, 2022 | Disposal by the Korea Deposit Insurance Corporation of a 2.3% stake in Woori Financial Group (reducing the KDIC's stake in Woori Financial Group from 3.6% to 1.3%) |
| June 19, 2022 | Held the inaugural meeting of Woori Financial Future Foundation |
| August 22, 2022 | Joined the 'Partnership for Biodiversity Accounting Financials(PBAF)' as the first Asian company |
| November 7, 2022 | Held the global conference 'Sustainable Finance for a Better World' |
| December 14, 2022 | Signatory of Statement from the Financial Sector at the Conference of the Parties to the 'UN Convention on Biological Diversity(UN CBD)' |
| December 29, 2022 | Received 'AA' rating from MSCI ESG Research for 2 consecutive years |
| January 16, 2023 | Completed the establishment of the 'WON Synergy' system to create effective synergy within group companies |
| January 26, 2023 | Became the first financial company in Korea to join the 'Finance Leadership Group on Plastics' hosted by 'UN Environment Programme Finance Initiative (UNEP FI)' |
| February 27, 2023 | Entered into a stock purchase agreement to acquire DAOL Investment. |

---

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##### [**Table of Contents**](#toc)
**b.** **Affiliated Companies** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Overview of Business Group

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Name of business group**: Woori Financial Group Inc.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Affiliated companies within the business group

As of December 31, 2022

---

| | |
|:---|:---|
| **Type** | **Name of Company** |
| Listed company<br> (4 companies) | Woori Financial Group |
| Listed company<br> (4 companies) | Woori Investment Bank |
| Listed company<br> (4 companies) | PT Bank Woori Saudara Indonesia 1906 Tbk |
|  | PT Woori Finance Indonesia Tbk |
| Unlisted company<br> (28 companies) | Woori Bank |
| Unlisted company<br> (28 companies) | Woori Card |
| Unlisted company<br> (28 companies) | Woori Financial Capital |
| Unlisted company<br> (28 companies) | Woori Asset Trust |
| Unlisted company<br> (28 companies) | Woori Savings Bank |
| Unlisted company<br> (28 companies) | Woori Asset Management |
| Unlisted company<br> (28 companies) | Woori Financial F&I Inc. |
| Unlisted company<br> (28 companies) | Woori Credit Information |
| Unlisted company<br> (28 companies) | Woori Fund Services |
| Unlisted company<br> (28 companies) | Woori Private Equity Asset Management |
| Unlisted company<br> (28 companies) | Woori Global Asset Management |
| Unlisted company<br> (28 companies) | Woori FIS |
| Unlisted company<br> (28 companies) | Woori Finance Research Institute |
| Unlisted company<br> (28 companies) | Korea BTL Infrastructure Fund |
| Unlisted company<br> (28 companies) | Woori America Bank |
| Unlisted company<br> (28 companies) | Woori Bank China Limited |
| Unlisted company<br> (28 companies) | AO Woori Bank |
| Unlisted company<br> (28 companies) | Banco Woori Bank do Brazil S.A. |
|  | Woori Global Markets Asia Limited |
|  | Woori Bank Vietnam Limited |
|  | Wealth Development Bank |
|  | Woori Finance Myanmar Co., Ltd |
|  | Woori Bank Cambodia PLC. |
|  | Woori Bank Europe Gmbh |
|  | Tutu Finance-WCI Myanmar Co., Ltd |
|  | Arden Woori Apparel 1<sup>st</sup> Private Equity Fund |
|  | Woori-Dino No.1 PEF |
|  | Green ESG Growth No.1 Private Equity Fund |

---

Note 1) Includes subsidiaries, etc. under the Financial Holding Company Act as of December 31, 2022

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##### [**Table of Contents**](#toc)
![LOGO](g846064g0315182133808.jpg)

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##### [**Table of Contents**](#toc)
**2.** **Capital Structure (Changes in Capital)** 

(units: Won, shares)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Date** | **Item** | **Type** | **Type** | **Type** |
| **Date** | **Item** | **Common Shares** | **Preferred Shares** | **Others** |
|  December 31, 2022 | Number of issued shares | 728060549 |  |  |
|  December 31, 2022 | Par Value | 5000 |  |  |
|  December 31, 2022 | Capital Stock | 3640302745000 |  |  |
|  December 31, 2021 | Number of issued shares | 728060549 |  |  |
|  December 31, 2021 | Par Value | 5000 |  |  |
|  December 31, 2021 | Capital Stock | 3640302745000 |  |  |
|  December 31, 2020 | Number of issued shares | 722267683 |  |  |
|  December 31, 2020 | Par Value | 5000 |  |  |
|  December 31, 2020 | Capital Stock | 3611338415000 |  |  |
|  December 31, 2019 | Number of issued shares | 722267683 |  |  |
|  | Par Value | 5000 |  |  |
|  | Capital Stock | 3611338415000 |  |  |

---

---

| | |
|:---|:---|
| Note 1) | Our common shares of 680,164,306 were issued on January 2019 upon establishment and common shares of 42,103,377 were increased on September 2019 due to a comprehensive stock exchange between Woori Financial Group and Woori Card. |
| Note 2) | Our common shares increased by 5,792,866 shares on August 10, 2021 due to a comprehensive stock exchange to integrate Woori Financial Capital as a wholly-owned subsidiary. |

---

As of December 31, 2022 (units: Won, shares)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Date** | **Category** | **Stock Decrease/Increase** | **Stock Decrease/Increase** | **Stock Decrease/Increase** | **Stock Decrease/Increase** | **Stock Decrease/Increase** |
| **Date** | **Category** | **Type** | **Quantity** | **Par<br>Value** | **Issue<br>price** | **Note** |
|  January 11, 2019 |  | Common | 680164306 | 5000 | 26415 | Establishment<br> (comprehensive stock transfer) |
|  September 10, 2019 |  | Common | 42103377 | 5000 | 12350 | Comprehensive stock exchange<br> Stock increase ratio: 6.19018% |
|  August 10, 2021 |  | Common | 5792866 | 5000 | 11100 | Comprehensive stock exchange<br> Stock increase ratio: 0.80204% |

---

---

| | |
|:---|:---|
| Note 1) | Due to Woori Financial Group's establishment through a comprehensive stock transfer, the issue price was calculated by dividing the total equity from its financial statements at the time of establishment (KRW 17,966,458,911,689) by the total number of issued shares (680164306). |
| Note 2) | Our capital changed in September 2019 and August 2021 due to a comprehensive stock exchanges. The issue prices were based on the closing stock price of the comprehensive stock exchange date. |

---

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##### [**Table of Contents**](#toc)
**3.** **Total Number of Authorized Shares** 

As of December 31, 2022 (unit: shares)

---

| | | | |
|:---|:---|:---|:---|
| **Items** | **Type** | **Type** | **Notes** |
| **Items** | **Common Shares** | **Total** | **Notes** |
|  Number of authorized shares | 4000000000 | 4000000000 |  |
|  Number of issued shares | 728060549 | 728060549 |  |
|  Number of treasury shares | 2324 | 2324 | Note 1) |
|  Number of outstanding shares | 728058225 | 728058225 |  |

---

Note 1) Acquired from the issuance of fractional shares (2,322 new fractional shares were added in August 2021 due to the comprehensive stock exchange between Woori Financial Group and Woori Financial Capital.)

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##### [**Table of Contents**](#toc)
**II.** **Business Overview** 

**1.** **Results of Operations** 

(unit: billions of Won)

---

| | | | |
|:---|:---|:---|:---|
| **Type** | **2022** | **2021** | **2020** |
|  Operating income | 4431 | 3660 | 2080 |
|  Non-operating income | 55 | 89 | -79 |
|  Income from continuing operations before income tax | 4485 | 3749 | 2001 |
|  Income tax expense from continuing operations | 1161 | 942 | 486 |
|  Income from discontinued operations |  |  |  |
|  Net income | 3324 | 2807 | 1515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Controlling Interest | 3142 | 2588 | 1307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-controlling Interest | 182 | 219 | 208 |

---

Note 1) Based on K-IFRS consolidated financial statements

**2.** **Funding Sources and Uses of Funds** 

**a.** **Sources of Funds** 

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| | |
|:---|:---|
| For the periods indicated other than as noted below | (units: millions of Won, %) |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Classification** | **Funding Source** | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** | **2020** | **2020** | **2020** |
| **Classification** | **Funding Source** | **Average<br>Balance** | **Interest<br>Rate** | **Proportion** | **Average<br>Balance** | **Interest**<br>**Rate** | **Proportion** | **Average<br>Balance** | **Interest**<br>**Rate** | **Proportion** |
|  Source | Deposits | 313019768 | 1.45 | 68.21 | 291653291 | 0.79 | 70.88 | 265636358 | 1.08 | 71.78 |
|  Source | Borrowings | 27296742 | 1.99 | 5.95 | 21628379 | 0.98 | 5.26 | 19606056 | 1.31 | 5.30 |
|  Source | Debentures | 45945392 | 2.26 | 10.01 | 40901547 | 1.78 | 9.94 | 32287676 | 2.24 | 8.73 |
|  Source | Others | 42537152 |  | 9.27 | 29470312 |  | 7.16 | 26523338 |  | 7.17 |
|  Source | Total Liabilities | 428799054 |  | 93.44 | 383653529 |  | 93.23 | 344053429 |  | 92.97 |
|  Total Equity | Total Equity | 30082662 |  | 6.56 | 27845863 |  | 6.77 | 25996721 |  | 7.03 |
|  Total Liabilities & Equity | Total Liabilities & Equity | 458881716 |  | 100.00 | 411499392 |  | 100.00 | 370050150 |  | 100.00 |

---

Note 1) Average Balance : simple average of the starting balance for the fiscal year and the balance at the end of each quarter <br> Note 2) Based on K-IFRS consolidated financial statements

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##### [**Table of Contents**](#toc)
**b.** **Use of Funds** 

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| | |
|:---|:---|
| For the periods indicated other than as noted below | (units: millions of Won, %) |

---

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Managed<br>Item** | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** | **2020** | **2020** | **2020** |
| **Type** | **Managed<br>Item** | **Average**<br>**Balance** | **Interest**<br>**Rate** | **Proportion** | **Average<br>Balance** | **Interest<br>Rate** | **Proportion** | **Average<br>Balance** | **Interest<br>Rate** | **Proportion** |
|  Use | Cash & Due from Banks | 16097533 | 1.52 | 3.51 | 13809362 | 0.34 | 3.36 | 11925297 | 0.45 | 3.22 |
|  Use | Marketable securities | 68661882 | 1.50 | 14.96 | 58416310 | 1.67 | 14.20 | 54474169 | 1.87 | 14.72 |
|  Use | Loans | 326710683 | 3.73 | 71.20 | 301849585 | 2.79 | 73.35 | 269533892 | 2.98 | 72.84 |
|  Use | Loans in local currency | 280414033 | 3.53 | 61.11 | 262010967 | 2.59 | 63.67 | 233117610 | 2.75 | 63.00 |
|  Use | Loans in foreign Currency | 30916107 | 4.54 | 6.74 | 25104084 | 3.58 | 6.10 | 22614578 | 3.99 | 6.11 |
|  Use | Guarantee payments | 21260 | 2.67 | 0.00 | 28000 | 2.46 | 0.01 | 15845 | 4.04 | 0.00 |
|  Use | Credit card receivables | 10026037 | 7.24 | 2.18 | 9196190 | 7.42 | 2.23 | 8207859 | 7.87 | 2.22 |
|  Use | Foreign bills bought | 5333246 | 2.58 | 1.16 | 5510344 | 0.85 | 1.34 | 5578001 | 1.53 | 1.51 |
|  Use | Bad debt expense in local currency (-) | 2128867 |  | 0.46 | 1878781 |  | 0.46 | 1708074 |  | 0.46 |
|  Use | Others | 49540485 |  | 10.80 | 39302917 |  | 9.55 | 35824866 |  | 9.68 |
|  Total Assets | Total Assets | 458881716 |  | 100.00 | 411499392 |  | 100.00 | 370050150 |  | 100.00 |

---

Note 1) Average Balance : simple average of the balances at the start of the fiscal year and at the end of each quarter <br> Note 2) Based on K-IFRS consolidated financial statements

**3.** **Other Information Necessary for Making Investment Decisions** 

**a.** **Capital Adequacy Ratios** 

**Group BIS Capital Adequacy Ratios** 

---

| | |
|:---|:---|
| As of the end of the period indicated | (units: billions of Won, %) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Type** | **2022** | **2021** | **2020** |
|  Equity capital (A) | 31404 | 28980 | 27448 |
|  Risk weighted assets (B) | 205307 | 192503 | 198269 |
|  BIS(Capital adequacy) ratio (A/B) | 15.30 | 15.05 | 13.84 |

---

---

| | |
|:---|:---|
| Note 1) | BIS (Bank for International Settlements) Capital Adequacy Ratios = Equity capital / Risk weighted assets \* 100 |
| Note 2) | Based on K-IFRS consolidated financial statements and Basel III standards (2020 figures partially based on IRB Approach / 2021, 2022 figures fully based on IRB Approach) |
| Note 3) | 2022 figures are estimates only and are subject to change |

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##### [**Table of Contents**](#toc)
**Capital Adequacy Ratios for Significant Subsidiaries and Consolidated Companies** 

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| | |
|:---|:---|
| As of the end of the periods indicated | (units: millions of Won, %) |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Company** | **Type** | **Type** | **2022** | **2021** | **2020** |
|  **Woori Bank**<br> Note2) | BIS ratio<br> Note1) | Equity capital (A) | 26119135 | 25473034 | 25269072 |
|  **Woori Bank**<br> Note2) | BIS ratio<br> Note1) | Risk weighted assets (B) | 167432214 | 157275764 | 145755395 |
|  **Woori Bank**<br> Note2) | BIS ratio<br> Note1) | Capital adequacy ratio (A/B) | 15.60 | 16.20 | 17.34 |
|  **Woori Card**<br> Note3) | Adjusted capital ratio | Adjusted capital ratio | 16.54 | 17.73 | 19.93 |
|  **Woori Card**<br> Note3) | Tangible common equity ratio | Tangible common equity ratio | 11.28 | 11.84 | 13.48 |
|  **Woori Financial Capital**<br> Note3) | Adjusted capital ratio | Adjusted capital ratio | 13.78 | 13.38 | 12.17 |
|  **Woori Financial Capital**<br> Note3) | Tangible common equity ratio | Tangible common equity ratio | 12.24 | 11.70 | 10.77 |
|  **Woori Investment Bank**<br> Note4) | BIS ratio<br> Note1) | Equity capital (A) | 674082 | 576693 | 491799 |
|  **Woori Investment Bank**<br> Note4) | BIS ratio<br> Note1) | Risk weighted assets (B) | 4448524 | 4037822 | 3192245 |
|  **Woori Investment Bank**<br> Note4) | BIS ratio<br> Note1) | Capital adequacy ratio (A/B) | 15.15 | 14.28 | 15.41 |
|  **Woori Asset Trust**<br> Note5) | Operating capital ratio | Operating capital ratio | 1189.77 | 1078.93 | 1286.43 |
|  **Woori Asset Management**<br> Note3) | Minimum operating capital ratio | Minimum operating capital ratio | 681.18 | 721.87 | 754.11 |
|  **Woori Savings Bank**<br> Note6) | BIS Capital adequacy ratio Note1) | BIS Capital adequacy ratio Note1) | 18.06 | 21.47 | 13.40 |
|  **Woori Private Equity Asset**<br> **Management**<br> Note3) | Minimum operating capital ratio | Minimum operating capital ratio | 8937.76 | 3967.99 | 3593.09 |

---

---

| | |
|:---|:---|
| Note 1) | BIS (Bank for International Settlements) Capital Adequacy Ratio : Equity capital / Risk weighted assets \* 100 |
| Note 2) | Figures for Woori Bank are based on K-IFRS consolidated financial statements and Basel III standards. 2022 figures are estimates only and subject to change |
| Note 3) | Figures for Woori Card, Woori Financial Capital, Woori Asset Management, Woori Private Equity Asset Management are based on the applicable standards for business reports submitted to the Financial Supervisory Service and our K-IFRS separate financial statements |
| Note 4) | Figures for Woori Investment Bank are based on the applicable standards for business reports submitted to the Financial Supervisory Service and our K-IFRS consolidated financial statements |
| Note 5) | Figures for Woori Asset Trust are based on K-IFRS separate financial statements |
| Note 6) | Figures for Woori Savings Bank are based on K-GAAP |

---

------

##### [**Table of Contents**](#toc)
**b.** **Liquidity Ratio** 

**Won Liquidity Ratios** 

---

| | |
|:---|:---|
| As of the end of the periods indicated | (units: millions of Won, %) |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** | **2020** | **2020** | **2020** |
| **Type** | Won<br>Liquidity<br>Assets | Won<br>Liquidity<br>Liabilities | Won<br>Liquidity<br>Ratio | Won<br>Liquidity<br>Assets | Won<br>Liquidity<br>Liabilities | Won<br>Liquidity<br>Ratio | Won<br>Liquidity<br>Assets | Won<br>Liquidity<br>Liabilities | Won<br>Liquidity<br>Ratio |
|  **Woori Financial Group** Note 1) | 316876 | 7656 | 4138.9 | 560744 | 5734 | 9779.3 | 40308 | 7911 | 509.5 |
|  **Woori Card** Note 2) | 8282745 | 1832484 | 452.0 | 7455390 | 1419809 | 525.1 | 6255965 | 1406387 | 444.8 |
|  **Woori Financial Capital** Note 2) | 2468298 | 1205067 | 204.8 | 1531101 | 856736 | 178.7 | 1357876 | 616632 | 220.2 |
|  **Woori Investment Bank** Note 2) | 3128499 | 1802149 | 173.6 | 2728159 | 2031260 | 134.3 | 2166208 | 1555418 | 139.3 |
|  **Woori Asset Trust**<br> Note 2) | 232036 | 32755 | 708.4 | 176660 | 25558 | 691.2 | 148856 | 16157 | 921.3 |
|  **Woori Savings Bank**<br> Note 2), Note3) | 534678 | 384493 | 139.1 | 292913 | 228445 | 128.2 | 267927 | 209712 | 127.8 |
|  **Woori Private Equity Asset**<br> **Management**<br> Note 2) | 23226 | 1897 | 1224.4 | 8068 | 1539 | 540.0 | 17200 | 1175 | 1463.2 |

---

---

| | |
|:---|:---|
| Note 1) | Based on current assets and liabilities within one month of maturity |
| Note 2) | Based on current assets and liabilities within 90 days of maturity |
| Note 3) | Based on K-GAAP |

---

**Foreign Currency (FC) Liquidity Ratios** 

---

| | |
|:---|:---|
| As of the end of the periods indicated | (units: millions of Won, %) |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** | **2020** | **2020** | **2020** |
| **Type** | FC<br>Liquidity<br>Assets | FC<br>Liquidity<br>Liabilities | FC<br>Liquidity<br>Ratio | FC<br>Liquidity<br>Assets | FC<br>Liquidity<br>Liabilities | FC<br>Liquidity<br>Ratio | FC<br>Liquidity<br>Assets | FC<br>Liquidity<br>Liabilities | FC<br>Liquidity<br>Ratio |
|  **Woori Investment Bank**<br> Note 1) | 65102 | 63365 | 102.74 | 13583 |  |  | 425 |  |  |

---

Note 1) Based on current assets and liabilities within three months of maturity

**Liquidity Coverage Ratios** 

(unit: %)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name of Company** | **Type** | **2022** | **2022** | **2021** | **2021** | **2020** | **2020** |
|  **Woori Bank** | Liquidity coverage ratio Note 1) |  | 102.40 |  | 89.95 |  | 92.07 |
|  **Woori Bank** | Foreign currency liquidity coverage ratio Note 1) |  | 143.11 |  | 107.40 |  | 106.06 |
|  **Woori Bank** | Ratio of business purpose premises and equipment |  | 11.04 |  | 11.46 |  | 11.68 |

---

---

| | |
|:---|:---|
| Note 1) | The method of calculation is based on the business disclosure, and the applicable periods are 2022 4Q, 2021 4Q and 2020 4Q and the liquidity coverage ratio requirements for banks has been reduced from 100% to 92.5% until June 2023 |

---

------

##### [**Table of Contents**](#toc)
**c.** **Profitability Ratio** Note1), Note2)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **2022** | **2022** | **2021** | **2021** | **2020** | **2020** |
| **Type** | ROA | ROE | ROA | ROE | ROA | ROE |
|  Woori Financial Group |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Including non-controlling interests | 0.70 | 12.21 | 0.66 | 11.48 | 0.40 | 6.80 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Excluding non-controlling interests | 0.66 | 11.54 | 0.61 | 10.58 | 0.34 | 5.87 |
|  Woori Bank | 0.66 | 11.71 | 0.60 | 9.92 | 0.37 | 5.95 |
|  Woori Card | 1.14 | 7.28 | 1.10 | 6.36 | 0.98 | 5.29 |
|  Woori Financial Capital | 1.51 | 12.53 | 1.69 | 15.73 | 1.53 | 13.83 |
|  Woori Investment Bank | 1.74 | 14.47 | 1.59 | 12.89 | 1.47 | 13.13 |
|  Woori Asset Trust | 20.86 | 29.74 | 18.64 | 27.05 | 22.03 | 31.51 |
|  Woori Asset Management | 0.75 | 0.80 | 6.82 | 7.11 | 5.85 | 6.12 |
|  Woori Savings Bank Note3) | 0.41 | 3.05 | 1.06 | 7.95 | 0.97 | 10.10 |
|  Woori Private Equity Asset Management | 2.60 | 2.75 | 5.46 | 5.96 | 2.16 | 2.31 |

---

---

| | |
|:---|:---|
| Note 1) | Based on the applicable standards for business reports submitted to the Financial Supervisory Service. The figures for Woori Financial Group and Woori Bank are on a consolidated basis and figures for the other subsidiaries are on a non-consolidated basis |
| Note 2) | Total assets and total equity : simple average of the starting balance for the fiscal year and each quarter's ending balance |
| Note 3) | Figures for Woori Savings Bank are based on K-GAAP |

---

**d.** **Asset Quality** 

**Group Asset Quality** 

(units: billions of Won, %)

---

| | | | |
|:---|:---|:---|:---|
| **Type** | **2022** | **2021** | **2020** |
|  Total loans | 343821 | 332797 | 299075 |
|  Substandard and below loans | 1082 | 990 | 1256 |
|  Substandard and below ratio | 0.31 | 0.30 | 0.42 |
|  Non-Performing Loans | 997 | 902 | 1149 |
|  NPL Ratio | 0.29 | 0.27 | 0.38 |
|  Substandard and below coverage ratio (A/B) | 217.6 | 192.2 | 153.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loan Loss reserve (A) | 2354 | 1903 | 1932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Substandard and below loans (B) | 1082 | 990 | 1256 |

---

Note 1) Based on the applicable standards for financial holding company business reports submitted to the Financial Supervisory Service

**Asset Quality for Significant Subsidiaries and Consolidated Companies** 

(units: %)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **2022** | **2022** | **2022** | **2021** | **2021** | **2021** | **2020** | **2020** | **2020** |
| **Type** | **Substandard<br>and below<br>ratio** | **NPL<br>ratio** | **Substandard<br>and below<br>coverage<br>ratio** | **Substandard<br>and below<br>ratio** | **NPL<br>ratio** | **Substandard<br>and below<br>coverage<br>ratio** | **Substandard<br>and below<br>ratio** | **NPL<br>ratio** | **Substandard<br>and below<br>coverage<br>ratio** |
|  Woori Bank | 0.19 | 0.16 | 263.43 | 0.20 | 0.18 | 205.50 | 0.32 | 0.30 | 153.95 |
|  Woori Card | 0.80 |  | 104.92 | 0.41 |  | 103.21 | 0.63 |  | 102.65 |
|  Woori Financial Capital | 1.22 |  | 198.56 | 1.20 |  | 196.70 | 1.77 |  | 140.15 |
|  Woori Investment Bank | 0.63 | 0.58 | 151.81 | 0.57 | 0.55 | 120.05 | 0.79 | 0.20 | 84.78 |
|  Woori Asset Trust | 32.23 |  |  | 56.61 |  |  | 63.64 |  |  |
|  Woori Savings Bank<br> Note 2) | 3.22 |  | 97.54 | 2.32 |  | 117.37 | 3.40 |  | 90.37 |

---

Note 1) Based on the applicable standards for business reports submitted to the Financial Supervisory Service <br> Note 2) Based on K-GAAP

------

##### [**Table of Contents**](#toc)
**III.** **Financial Information** 

**1.** **Condensed Financial Statements (Consolidated)** 

**Summary Consolidated Statement of Financial Position** 

(The Company and its Consolidated Subsidiaries, as of the end of the periods indicated) (unit: millions of Won)

---

| | | | |
|:---|:---|:---|:---|
| **Classification** | **2022** | **2021** | **2020** |
|  **ASSETS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 34219148 | 20613073 | 17343237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss ("FVTPL") | 19860573 | 13497234 | 14762941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other comprehensive income | 33085080 | 39119789 | 30028929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Securities at amortized cost | 28268516 | 17086274 | 17020839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans and other financial assets at amortized cost | 355760729 | 348885617 | 312753824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in joint ventures and associates | 1305636 | 1335167 | 993291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment properties | 387707 | 389495 | 387464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premises and equipment | 3142930 | 3174720 | 3287198 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets and goodwill | 849114 | 785386 | 792077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets held for sale | 13772 | 26327 | 60002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit asset | 319280 | 21346 | 5658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current tax assets | 53274 | 22598 | 75655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred tax assets | 109299 | 31131 | 46088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative assets (designated for hedging) | 37786 | 106764 | 174820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | 3061552 | 2088950 | 1348994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total assets** | **480474396** | **447183871** | **399081017** |
|  **LIABILITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at FVTPL | 8952399 | 4873458 | 6813822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits due to customers | 342105209 | 317899871 | 291477279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Borrowings | 28429603 | 24755459 | 20745466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | 44198486 | 44653864 | 37479358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provisions | 545865 | 576134 | 501643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit liability | 35202 | 47986 | 52237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current tax liabilities | 843555 | 584491 | 370718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred tax liabilities | 31799 | 186946 | 160250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Derivative liabilities (designated for hedging) | 202911 | 27584 | 64769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities | 22811868 | 24171030 | 14215817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 690157 | 556853 | 473813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities** | **448847054** | **418333676** | **372355172** |
|  **EQUITY** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Owners' equity: | 28761897 | 25842019 | 23053608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital stock | 3640303 | 3640303 | 3611338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | 3112449 | 2294381 | 1895366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital surplus | 682385 | 682385 | 626111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other equity | (2423392) | (2167614) | (2347472) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained earnings | 23750152 | 21392564 | 19268265 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-controlling interests | 2865445 | 3008176 | 3672237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total equity** | **31627342** | **28850195** | **26725845** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Total liabilities and equity** | **480474396** | **447183871** | **399081017** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Number of Consolidated Subsidiaries (excluding holding company) | **167** | **152** | **131** |

---

------

##### [**Table of Contents**](#toc)
**Summary Consolidated Statement of Comprehensive Income** 

---

| | |
|:---|:---|
|  (The Company and its Consolidated Subsidiaries, for the periods indicated) | (unit: millions of Won, except per share amounts) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Classification** | **2022** | **2021** | **2020** |
|  **Operating income** | **4430524** | **3659749** | **2080394** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net interest income | 8696579 | 6985721 | 5998512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net fees and commissions income | 1710170 | 1470775 | 1014039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend income | 159982 | 309211 | 138543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain or loss on financial instruments at FVTPL | 238502 | 325751 | 421709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain or loss on financial assets at FVTOCI | (21498) | 32624 | 24138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain or loss arising on financial assets at amortized cost | 74204 | 107317 | 44443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Impairment losses due to credit loss | (885272) | (536838) | (784371) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General and administrative expenses | (4529890) | (4147411) | (3956181) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other net operating income (expenses) | (1012253) | (887401) | (820438) |
|  **Non-operating income (expense)** | **54850** | **89492** | **(79143)** |
|  **Net income before income tax expense** | **4485374** | **3749241** | **2001251** |
|  **Income tax expense** | **(1161392)** | **(941870)** | **(486002)** |
|  **Net income** | **3323982** | **2807371** | **1515249** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income attributable to owners | 3141680 | 2587936 | 1307266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income attributable to the non-controlling interests | 182302 | 219435 | 207983 |
|  **Other comprehensive income (loss), net of tax** | **(239819)** | **170181** | **(82207)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Items that will not be reclassified to profit or loss | 216767 | 96529 | 54964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Items that may be reclassified to profit or loss | (456586) | 73652 | (137171) |
|  **Total comprehensive income** | **3084163** | **2977552** | **1433042** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comprehensive income attributable to the owners | 2909053 | 2745764 | 1233097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Comprehensive income attributable to non-controlling interests | 175110 | 231788 | 199945 |
|  **Net income per share:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic and diluted loss per share (in Korean Won) | 4191 | 3481 | 1742 |

---

------

##### [**Table of Contents**](#toc)
**2.** **Condensed Financial Statements (Separate)** 

**Summary Statement of Financial Position** 

(The Company, as of the end of the period indicated) (unit: millions of Won)

---

| | | | |
|:---|:---|:---|:---|
| **Classification** | **2022** | **2021** | **2020** |
|  **ASSETS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents | 313361 | 578725 | 69176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through profit or loss | 689 |  | 7247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial assets at fair value through other<br> comprehensive income | 312771 | 146294 | 149614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loans and other financial assets at amortized cost | 2041877 | 633110 | 619117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in subsidiaries | 22394915 | 22144915 | 21562229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Premises and equipment | 11052 | 7790 | 12538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Intangible assets | 4859 | 5171 | 5282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net defined benefit asset | 5947 | 1516 | 3509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current tax assets | 14350 | 856 | 307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deferred tax assets | 13433 | 6454 | 964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets | 322 | 151 |  |
|  **Total assets** | **25113576** | **23524982** | **22429983** |
|  **LIABILITIES** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial liabilities at fair value through profit or loss |  | 329 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debentures | 1447762 | 1367429 | 1147503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provisions | 487 | 394 | 782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current tax liabilities | 721795 | 468305 | 215071 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other financial liabilities | 46039 | 22988 | 22085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other liabilities | 591 | 548 | 570 |
|  **Total liabilities** | **2216674** | **1859993** | **1386011** |
|  **EQUITY** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital stock | 3640303 | 3640303 | 3611338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hybrid securities | 3112273 | 2294288 | 1895322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital surplus | 10909281 | 10909281 | 14874084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other equity | (26186) | (3874) | (1518) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retained Earnings | 5261231 | 4824991 | 664746 |
|  **Total equity** | **22896902** | **21664989** | **21043972** |
|  **Total liabilities and equity** | **25113576** | **23524982** | **22429983** |

---

------

##### [**Table of Contents**](#toc)
**Summary Statement of Comprehensive Income** 

---

| | |
|:---|:---|
| (The Company, for the period indicated) | (unit: millions of Won, except per share amounts) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Classification** | **2022** | **2021** | **2020** |
|  **Operating income (expense)** | **1185627** | **590550** | **594752** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net interest income | (5030) | (22245) | (12953) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest income | 25614 | 4236 | 10082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest expense | (30644) | (26481) | (23035) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net fees and commissions loss | (15059) | (12585) | (15394) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees and commissions income | 1596 | 1306 | 805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fees and commissions expense | (16655) | (13891) | (16199) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividend income | 1272393 | 692605 | 680375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on financial instruments at FVTPL | 1018 | (7576) | (920) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reversal (Provision) of impairment losses due to credit loss | (244) | 76 | 116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General and administrative expenses | (67451) | (59725) | (56472) |
|  **Non-operating income (expense)** | **(1363)** | **(305)** | **(215)** |
|  **Net income before income tax expense** | **1184264** | **590245** | **594537** |
|  **Income tax income (expense)** | **(1015)** | **4607** | **781** |
|  **Net income (loss)** | **1183249** | **594852** | **595318** |
|  **Other comprehensive income (loss), net of tax** | **(22312)** | **(2330)** | **(887)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Items that will not be reclassified to profit or loss | (22312) | (2330) | (887) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net gain (loss) on valuation of equity securities at FVTOCI | (24676) | (2408) | (280) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Remeasurement of the net defined benefit liability | 2364 | 78 | (607) |
|  **Total comprehensive Income** | **1160937** | **592522** | **594431** |
|  **Net Income per share:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic and diluted income per share (in Korean Won) | 1499 | 730 | 757 |

---

------

##### [**Table of Contents**](#toc)
**3.** **Dividend Information** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Woori Financial Group's Shareholder Return Policy and Capital Management Plan In order to improve dividend
predictability and enhance shareholder value, Woori Financial Group is delivering Shareholder Return Policy and Capital Management Plan in consideration to the Total Shareholder Return Rate ("TSR". dividend + share buyback) and will
execute as follows. (Please refer to our FY Business Results materials from our homepage (https://www.woorifg.com) for further details)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Until reaching CET1 12%, we will take GDP growth rate into consideration and manage our internal asset growth
rate within 4~5% range, while offering TSR level of 30%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. After stably exceeding CET1 12%, we will re-evaluate our mid to
long-term Shareholder Return Policy in such a way that it is equal to or above the TSR level of 30%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Information regarding stock buyback and quarterly dividends will be disclosed after the second quarter of 2023,
pursuant to Board of Directors' resolution and in consideration with our capital ratio status.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. TSR is subject to change, due to unprecedented changes in the financial market, such as those caused by COVID
19 re-proliferation or restrictions placed by law or regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Plans regarding the amendments to the Articles of Incorporation ("AOI") related to dividends. (Please
refer to our AGM Convocation Notice, March 6, 2023, for further details)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Quarterly dividends : In order to enhance the predictability of dividends and enhance shareholder value, we
will be proposing amendments to make the issuance of quarterly dividends possible at the end of March, June, and September. (Interim dividends were made in 2021 and 2022)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Amending the process for determining the dividend record date : In order to implement a dividend procedure in
line with global standards, we will allow the setting of the dividend record date after the dividend decision date, so that investors can make investment decisions after confirming the amount of dividend.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Specific details regarding future Shareholder Return Policy will be disclosed separately upon resolution by our
Board of Directors.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Items** | **Items** | **2022** | **2021** | **2020** |
|  Par value per share (Won) | Par value per share (Won) | 5000 | 5000 | 5000 |
|  Net profit (Millions of Won) | Net profit (Millions of Won) | 3141680 | 2587936 | 1307266 |
|  Earnings per share (Won) | Earnings per share (Won) | 4191 | 3481 | 1742 |
|  Total cash dividends (Millions of Won) | Total cash dividends (Millions of Won) | 822706 | 654384 | 260016 |
|  Total stock dividends (Millions of Won) | Total stock dividends (Millions of Won) |  |  |  |
|  Cash dividend payout ratio (%) | Cash dividend payout ratio (%) | 26.19 | 25.29 | 19.89 |
|  Cash dividend yield (%) | Common Shares | 8.8 | 6.8 | 3.6 |
|  | Preferred Shares |  |  |  |
|  Stock dividend yield (%) | Common Shares |  |  |  |
|  | Preferred Shares |  |  |  |
|  Cash dividend per share (Won) | Common Shares | 1130 | 900 | 360 |
|  | Preferred Shares |  |  |  |
|  Stock dividend per share (Share) | Common Shares |  |  |  |
|  | Preferred Shares |  |  |  |

---

---

| | |
|:---|:---|
| Note 1) | The dividends for 2022 includes the interim dividends of KRW109,209 million (KRW150 cash dividend per share) |
| Note 2) | The dividends for 2021 includes the interim dividends of KRW108,340 million (KRW150 cash dividend per share) |
| Note 3) | Of the total cash dividends for FY2022, the year-end dividends of KRW 713,497 million represents the amount prior to its approval at the annual general meeting of shareholders for FY2022. If the amount is rejected or amended at the annual general meeting, the Company will disclose such changes. |

---

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##### [**Table of Contents**](#toc)
**IV.** **Independent Auditor's Opinion** 

**1.** **Independent Auditor's Opinion** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **2022** | **2021** | **2020** | **2020** |
|  Auditor | Samil PricewaterhouseCoopers | Samil PricewaterhouseCoopers |  | Samil PricewaterhouseCoopers |
|  Auditor's Opinion | Note 1) | Note 2) |  | Note 3) |

---

Note 1) In its audit report, Samil PricewaterhouseCoopers has stated that the financial statements are presented fairly, in all material respects, in accordance with Korean IFRS.

Note 2) In its audit report, Samil PricewaterhouseCoopers has stated that the financial statements are presented fairly, in all material respects, in accordance with Korean IFRS.

Note 3) In its audit report, Samil PricewaterhouseCoopers has stated that the financial statements are presented fairly, in all material respects, in accordance with Korean IFRS.

**2.** **Compensation to the Independent Auditor** 

**a.** **Audit Services** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Term** | **Auditor** | **Description** | **Contract** | **Contract** | **Actual** | **Actual** |
| **Term** | **Auditor** | **Description** | **Fee** | **Time** | **Fee** | **Time** |
| 2022 | Samil<br> PricewaterhouseCoopers | 1Q/1H/3Q Review<br> Closing audit (including internal<br> accounting management system) | KRW<br> 1,068 million | 9,380<br>hours | KRW<br> 1,068 million | 8,714<br>hours |
| 2021 | Samil<br> PricewaterhouseCoopers | 1Q/1H/3Q Review<br> Closing audit (including internal<br> accounting management system) | KRW<br> 1,172 million | 10,450<br>hours | KRW<br> 1,172 million | 9,962<br>hours |
| 2020 | Samil<br> PricewaterhouseCoopers | 1Q/1H/3Q Review<br> Closing audit (including internal<br> accounting management system) | KRW<br> 1,135 million | 10,400<br>hours | KRW<br> 1,135 million | 10,514<br>hours |

---

Note 1) Fee excludes VAT

Note 2) Time includes planning time up until the commencement of the applicable services

**b.** **Other Audit Services** 

Not Applicable

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##### [**Table of Contents**](#toc)
**c.** **Current Status of Audit Service Agreements with the Independent Auditor Relating to U.S. Listing** 

---

| | | | |
|:---|:---|:---|:---|
| **Term** | **Auditor** | **Description** | **Fee** |
| 2021 | Samil PricewaterhouseCoopers | U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2022) | KRW 2,240 million |
| 2020 | Samil PricewaterhouseCoopers | U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2021) | KRW 2,370 million |
| 2020 | Samil PricewaterhouseCoopers | U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2020) | KRW 2,280 million |

---

Note 1) Fee excludes VAT

**d.** **Non-Audit Services** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Term** | **Date of Execution<br>of Agreement** | **Description of Service** | **Service Term** | **Fees** |
| 2022 | March 30, 2022 | Tax adjustment (including review relating to application of consolidated tax) | April 1, 2022 ~ May 31, 2023 | KRW 64 million |
| 2021 | March 29, 2021 | Tax adjustment (including review relating to application of consolidated tax) | June 1, 2021 ~ May 31, 2022 | KRW 61 million |
| 2020 | July 9, 2020 | Tax adjustment (including review relating to application of consolidated tax) | July 9, 2020 ~ May 31, 2021 | KRW 61 million |

---

Note 1) Fee excludes VAT

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##### [**Table of Contents**](#toc)
**V.** **Corporate Governance** 

**1.** **About the Board of Directors** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a.** Composition of the Board of Directors

As of December 31, 2022, the board of directors consists of seven outside directors, one standing director and one non-standing director.

On January 27, 2022, In-Sub Yoon and Yo-Hwan Shin were newly appointed as outside directors at the extraordinary general meeting of shareholders. On February 14, 2022, a non-standing director Hong-Tae Kim resigned for personal reasons. On March 25, 2022, Soo-Young Song was newly appointed and Sung-Tae Ro, Sang-Yong Park, Chan-Hyoung Chung, and Dong-Woo Chang were reappointed as outside directors at the annual general meeting of shareholders for FY2021. On March 23, 2022, Won-Duk Lee resigned as the standing director as he was determined to become the President and CEO of Woori Bank and then newly appointed as a non-standing director at the annual general meeting of shareholders on March 25, 2022.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b.** Committees under the Board of Directors

We currently have the following committees serving under the board of directors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Audit Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Board Risk Management Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Compensation Committee

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Committee for Recommending Executive Officer Candidates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Committee for Recommending Subsidiary Representative Director Candidates

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Committee for Internal Control Management

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Board ESG Management Committee

(As of December 31, 2022)

---

| | | |
|:---|:---|:---|
| **Name of Committee** | **Composition** | **Names of Members** |
| Audit Committee | Three outside directors | (Chairman) Chan-Hyoung Chung (outside director)<br> Sung-Tae Ro (outside director)<br> Dong-Woo Chang (outside director) |

---

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##### [**Table of Contents**](#toc)

---

| | | |
|:---|:---|:---|
| **Name of Committee** | **Composition** | **Names of Members** |
| Board Risk Management Committee | Four outside directors | (Chairman) In-Sub Yoon (outside director) Sang-Yong Park (outside director) Yo-Hwan Shin (outside director) Soo-Young Song (outside director) |
| Compensation Committee | Five outside directors | (Chairman) Yo-Hwan Shin (outside director)<br> Sung-Tae Ro (outside director)<br> Sang-Yong Park (outside director)<br> In-Sub Yoon (outside director)<br> Chan-Hyoung Chung (outside director) |
| Committee for Recommending Executive Officer Candidates | Seven outside directors | (Chairman) Dong-Woo Chang (outside director)<br> Sung-Tae Ro (outside director)<br> Sang-Yong Park (outside director)<br> In-Sub Yoon (outside director)<br> Chan-Hyoung Chung (outside director)<br> Yo-Hwan Shin (outside director)<br> Soo-Young Song (outside director) |
| Committee for Recommending Subsidiary Representative Director Candidates | Seven outside directors<br> One standing director | (Chairman) Tae-Seung Son (standing director)<br> Sung-Tae Ro (outside director)<br> Sang-Yong Park (outside director)<br> In-Sub Yoon (outside director)<br> Chan-Hyoung Chung (outside director)<br> Yo-Hwan Shin (outside director)<br> Dong-Woo Chang (outside director)<br> Soo-Young Song (outside director) |
| Committee for Internal Control Management | Three outside directors<br> One standing director | (Chairman) Sang-Yong Park (outside director)<br> Yo-Hwan Shin (outside director)<br> Soo-Young Song (outside director)<br> Tae-Seung Son (standing director) |

---

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##### [**Table of Contents**](#toc)

---

| | | |
|:---|:---|:---|
| **Name of Committee** | **Composition** | **Names of Members** |
| Board ESG Management Committee | Seven outside directors<br> One standing director<br> One non-standing director | (Chairman) Soo-Young Song (outside director)<br> Sung-Tae Ro (outside director)<br> Sang-Yong Park (outside director)<br> In-Sub Yoon (outside director)<br> Chan-Hyoung Chung (outside director)<br> Yo-Hwan Shin (outside director)<br> Dong-Woo Chang (outside director)<br> Tae-Seung Son (standing director)<br> Won-Duk Lee (non-standing director) |

---

**2.** **Shareholder's Meeting** 

**a.** Voting Rights Note 1)

(unit: shares)

---

| | | | |
|:---|:---|:---|:---|
| **Items** | **Items** | **Number of shares** | **Notes** |
|  Number of issued shares | Common Shares | 728060549 |  |
|  Number of issued shares | Preferred Shares |  |  |
|  Number of shares without voting rights | Common Shares | 343991 | Note 2) |
|  Number of shares without voting rights | Preferred Shares |  |  |
| Number of shares for which voting rights are excluded pursuant to the articles of incorporation | Common Shares |  |  |
| Number of shares for which voting rights are excluded pursuant to the articles of incorporation | Preferred Shares |  |  |
|  Number of shares for which voting rights<br> are limited by law | Common Shares | 11437579 | Note 3) |
|  Number of shares for which voting rights<br> are limited by law | Preferred Shares |  |  |
|  Number of shares for which voting rights<br> have been restored | Common Shares |  |  |
|  Number of shares for which voting rights<br> have been restored | Preferred Shares |  |  |
|  Number of shares for which voting rights<br> may be exercised | Common Shares | 716278979 |  |
|  Number of shares for which voting rights<br> may be exercised | Preferred Shares |  |  |

---

---

| | |
|:---|:---|
| Note 1) | As of the annual general meeting of shareholders for 2022 in March 2023 |
| Note 2) | Treasury shares acquired from the issuance of fractional shares and shares in mutual ownership (pursuant to Article 369 of the Commercial Act) |
| Note 3) | A non-financial business operator is restricted from exercising voting rights in excess of 4% of the total number of outstanding voting shares of a financial holding company (pursuant to Article 8-2 of the Financial Holding Company Act) |

---

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##### [**Table of Contents**](#toc)
**b.** Summary of the Minutes of Shareholder's Meeting

---

| | | |
|:---|:---|:---|
|  | **Agenda** | **Result** |
| Annual General Meeting of Shareholders for 2019<br> (March 25, 2020) | 1. Approval of financial statements for the fiscal year 2019 | Approved as submitted |
|  | 2. Approval of amendments to the Articles of Incorporation | Approved as submitted |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 3. Appointment of directors (1 outside director, 1 non-standing director, 2 standing directors)<br> - 3-1 Candidate for outside director : Dennis Chan<br> - 3-2 Candidate for non-standing director : Hong-Tae Kim<br> - 3-3 Candidate for standing director : Won-Duk Lee<br> - 3-4 Candidate for standing director : Tae-Seung Son | Approved as submitted |
|  | 4. Approval of the maximum limit on directors' compensation | Approved as submitted |
| Annual General Meeting of Shareholders for 2020<br> (March 26, 2021) | 1. Approval of financial statements for the fiscal year 2020 | Approved as submitted |
|  | 2. Approval of amendments to the Articles of Incorporation | Approved as submitted |
|  | 3. Approval of reduction of Capital Reserve | Approved as submitted |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 4. Appointment of directors (1 standing director, 4 outside directors)<br> - 4-1 Candidate for standing director : Won-Duk Lee<br> - 4-2 Candidate for outside director : Sung-Tae Ro<br> - 4-3 Candidate for outside director : Sang-Yong Park<br> - 4-4 Candidate for outside director : Zhiping Tian<br> - 4-5 Candidate for outside director : Dong-Woo Chang | Approved as submitted |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5. Appointment of outside director who will serve as an Audit Committee Member<br> - Candidate for outside director who will serve as an Audit Committee Member<br> : Chan-Hyoung Chung | Approved as submitted |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6. Appointment of Audit Committee Members who are outside directors<br> - 6-1 Candidate for Audit Committee Member who is an outside director<br> : Sung-Tae Ro<br> - 6-2 Candidate for Audit Committee Member who is an outside director<br> : Dong-Woo Chang | Approved as submitted |
|  | 7. Approval of the maximum limit on directors' compensation | Approved as submitted |
| Extraordinary General Meeting of Shareholder in 2022<br> (January 27, 2022) | &nbsp;&nbsp;&nbsp;&nbsp; 1. Appointment of directors (2 outside directors)<br> - 1-1 Candidate for outside director : In-Sub Yoon<br> - 1-2 Candidate for outside director : Yo-Hwan Shin | Approved as submitted |
| Annual General Meeting of Shareholders for 2021<br> (March 25, 2022) | 1. Approval of financial statements for the fiscal year 2021 | Approved as submitted |
|  | 2. Approval of amendments to the Articles of Incorporation | Approved as submitted |

---

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##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| 3. Appointment of directors (4 outside directors, 1 non-standing director)<br> - 3-1 Candidate for outside director : Soo-Young Song<br> - 3-2 Candidate for outside director : Sung-Tae Ro<br> - 3-3 Candidate for outside director : Sang-Yong Park<br> - 3-4 Candidate for outside director : Dong-Woo Chang<br> - 3-5 Candidate for non-standing director : Won-Duk Lee | Approved as submitted |
| 4. Appointment of outside director who will serve as an Audit Committee Member<br> - Candidate for outside director who will serve as an Audit Committee Member<br> : Chan-Hyoung Chung | Approved as submitted |
| &nbsp;&nbsp;&nbsp;&nbsp; 5. Appointment of Audit Committee Members who are outside directors<br> - 5-1 Candidate for Audit Committee Member who is an outside director<br> : Sung-Tae Ro<br> - 5-2 Candidate for Audit Committee Member who is an outside director<br> : Dong-Woo Chang | Approved as submitted |
| 6. Approval of the maximum limit on directors' compensation | Approved as submitted |

---

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##### [**Table of Contents**](#toc)
**III.** **Shareholder Information** 

**1.** **Share Distribution** 

**a.** **Share Information of the Largest Shareholder and Specially Related Parties** 

---

| | |
|:---|:---|
| As of December 31, 2022 | (units: shares, %) |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Relation** | **Type** | **Shares Held** | **Shares Held** | **Shares Held** | **Shares Held** | **Notes** |
| **Name** | **Relation** | **Type** | **Beginning balance** | **Beginning balance** | **Ending balance** | **Ending balance** | **Notes** |
| **Name** | **Relation** | **Type** | **Number** | **Share** | **Number** | **Share** | **Notes** |
|  Employee Stock Ownership Association of Woori Financial Group | The largest shareholder | Common | 38859717 | 5.33 | 41165138 | 5.65 |  |
|  Employee Stock Ownership Association of Woori Bank | The related party of the<br>largest shareholder | Common | 32630581 | 4.48 | 28136218 | 3.87 |  |
|  Total |  | Common | 71490298 | 9.82 | 69301356 | 9.52 |  |
|  |  | Others |  |  |  |  |  |

---

Note 1) Shares in beginning balance is as of December 31, 2021

**b.** **Changes in the largest shareholder** 

---

| | |
|:---|:---|
| As of December 31, 2022 | (units: shares, %) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Change of Date** | **Largest Shareholder** | **Number Held** | **Share** | **Notes** |
|  January 11, 2019 | Korea Deposit Insurance Corporation | 124604797 | 18.32 | Comprehensive Stock Transfer<br> (Woori Financial Group) Note 1) |
|  September 10, 2019 | Korea Deposit Insurance Corporation | 124604797 | 17.25 | Issuance of new common shares (42,103,377 shares) Note 2) |
|  April 9, 2021 | Korea Deposit Insurance Corporation | 110159443 | 15.25 | Sales of KDIC'S 14,445,354 shares through after-hours trading Note 3) |
|  August 10, 2021 | Korea Deposit Insurance Corporation | 110159443 | 15.13 | Issuance of new common shares<br> (5,792,866 shares) Note 4) |
|  December 9, 2021 | Employee Stock Ownership Association of Woori Financial Group and others 1 | 71346178 | 9.80 | Bought 1.00% of the KDIC's remaining shares of Woori Financial Group (8.80% share already held) Note 5) |

---

Note 1) Woori Financial Group was established pursuant to a comprehensive stock transfer of Woori Bank and five other companies, and the KDIC received new shares of Woori Financial Group in accordance with the stock transfer ratio.

![LOGO](g846064dsp31a.jpg) transfer ratio Woori Bank : Woori Financial Group = 1: 1.0000000

Note 2) Comprehensive stock exchange between Woori Financial Group and Woori Card.

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##### [**Table of Contents**](#toc)

---

| | |
|:---|:---|
| Note 3) | Refer to the prior disclosures on Form 6-K on April 13, 2021, Change in the Number of Shares Owned by the Largest Shareholder of Woori Financial Group  |

---

Note 4) Comprehensive stock exchange between Woori Financial Group and Woori Financial Capital

Note 5) Refer to the prior disclosure on the Form 6-K on December 10, 2021, Changes in the Largest Shareholder

**c.** **Share Ownership of More Than 5%** 

---

| | |
|:---|:---|
| As of December 31, 2022 | (units: shares, %) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Name** | **Shares** | **Shares** | **Notes** |
| | **Name** | **No. of shares** | **Percentage<br>of<br>shareholding** | **Notes** |
|  Share ownership of more than 5% | National Pension Service | 49834170 | 6.84 | Note1) |
|  | Nobis1, Inc. (IMM PE) | 40560000 | 5.57 |  |
|  Employee Stock Ownership Association | Employee Stock Ownership Association | 69301356 | 9.52 | The largest<br>shareholder<br>Note 2) |

---

Note 1) Based on the disclosure of the National Pension Service on February 1, 2023

---

| | |
|:---|:---|
| Note 2) | Total shares of the employee stock ownership association of Woori Financial Group and Woori Bank  |

---

**2.** **Stock Price and Stock Market Performance** 

**a.** **Domestic Stock Market** 

(units: Won, shares)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Period** | **Period** | **July**<br>**2022** | **August**<br>**2022** | **September**<br>**2022** | **October**<br>**2022** | **November**<br>**2022** | **December**<br>**2022** |
|  Common Shares | High | 12200 | 12450 | 11950 | 12000 | 13000 | 13100 |
|  Common Shares | Low | 11000 | 11750 | 10700 | 11100 | 11400 | 11550 |
|  Common Shares | Average | 11683 | 12123 | 11498 | 11542 | 12011 | 12710 |
|  Monthly Trade Volume | High | 4041303 | 5496204 | 4009821 | 4012900 | 6594930 | 6610706 |
|  Monthly Trade Volume | Low | 1361105 | 1345945 | 1203409 | 940751 | 1260692 | 1431662 |
|  Monthly Trade Volume | Monthly Total | 52669461 | 46727144 | 45895743 | 45059956 | 50542542 | 51933848 |

---

Note 1) Source: KRX KOSPI Market

Note 2) Share prices are based on closing prices.

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##### [**Table of Contents**](#toc)
**b.** **Foreign Stock Market (NYSE)** 

(units: US Dollars, Won, ADSs)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Period** | **Period** | **July**<br>**2022** | **August**<br>**2022** | **September**<br>**2022** | **October**<br>**2022** | **November**<br>**2022** | **December**<br>**2022** |
|  ADS | High | 27.93 | 28.53 | 25.48 | 25.26 | 30.13 | 30.63 |
|  ADS | Low | 25.42 | 26.35 | 22.32 | 22.79 | 23.97 | 27.53 |
|  ADS | Average | 26.86 | 27.39 | 24.53 | 24.24 | 26.60 | 29.25 |
|  Won Conversion | High | 36303 | 37160 | 35524 | 35821 | 40118 | 39096 |
|  Won Conversion | Low | 33300 | 35512 | 32025 | 32638 | 33989 | 34889 |
|  Won Conversion | Average | 35114 | 36118 | 34132 | 34576 | 36287 | 37921 |
|  Monthly Trade Volume | High | 99681 | 150298 | 107140 | 115138 | 81771 | 70551 |
|  Monthly Trade Volume | Low | 25687 | 24637 | 42219 | 31325 | 9276 | 18147 |
|  Monthly Trade Volume | Monthly Total | 1093739 | 1366146 | 1432447 | 1349207 | 944971 | 722706 |

---

Note 1) Source: standard trading rate (daily and monthly average) (Seoul Money Brokerage, www.smbs.biz)

Note 2) One ADS represents three common shares.

Note 3) Share prices are based on closing prices.

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##### [**Table of Contents**](#toc)
**IV.** **Directors and Employee Information** 

**1.** **Directors and Executives** 

As of March 16, 2023

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Position** |  | **Name** | **Common<br>Shares<br>Owned** | **Term**<br> **Commencement Date** | **Expiration of Term** |
|  Chief Executive Officer | Registered | Tae-Seung Son | 118127 | January 11, 2019 ~ | Note 1) |
|  Outside Director | Registered | Sung-Tae Ro | 5000 | January 11, 2019 ~ | Note 1) |
|  Outside Director | Registered | Sang-Yong Park | 1000 | January 11, 2019 ~ | Note 1) |
|  Outside Director | Registered | In-Sub Yoon |  | January 27, 2022~ | Note 2) |
|  Outside Director | Registered | Chan-Hyoung Chung | 10532 | January 11, 2019 ~ | Note 1) |
|  Outside Director | Registered | Yo-Hwan Shin |  | January 27, 2022~ | Note 2) |
|  Outside Director | Registered | Dong-Woo Chang |  | January 11, 2019 ~ | Note 1) |
|  Outside Director | Registered | Soo-Young Song |  | March 25, 2022~ | Note 2) |
|  Non-standing Director | Registered | Won-Duck Lee | 26500 | March 25, 2022~ | ~December 31, 2023 |
|  Deputy President | Non-Registered | Sung-Wook Lee | 15000 | February 25, 2022 ~ | ~ February 10, 2024 |
|  Senior Managing Director | Non-Registered | Il-Jin Ouk | 3000 | March 7, 2023~ | ~ February 24, 2024 |
|  Managing Director | Non-Registered | Kon-Ho Kim | 9160 | March 7, 2023~ | ~ March 6, 2025 |
|  Managing Director | Non-Registered | Jang-Keun Park |  | March 7, 2023~ | ~ March 6, 2025 |
|  Managing Director | Non-Registered | Jeong-Soo Lee | 5890 | March 7, 2023~ | ~ March 6, 2025 |
|  Deputy Managing Director | Non-Registered | Jae-Hwa Jeon | 7872 | March 7, 2023~ | ~ March 6, 2025 |

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Note 1) End of the annual general meeting of shareholders for FY2022

Note 2) End of the annual general meeting of shareholders for FY2023

Note 3) Term commencement date: date of inauguration for registered officers or directors / date of appointment for non-registered officers or directors

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| | |
|:---|:---|
| Note 4) | Common shares owned are as of the date of submission of this report, and those owned by executives exclude shares owned through the Employee Stock Ownership Association.  |

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**2.** **Employee Status** 

As of December 31, 2022 (units: persons, millions of Won)

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Number of Employees** | **Number of Employees** | **Number of Employees** | **Number of Employees** | **Number of Employees** | **Average**<br>**Tenure** | **Total<br>Compensation** | **Average<br>Compensation**<br>**Per Person** | **Note** |
| | **Regular** | **Regular** | **Contract** | **Contract** | **Total** | **Average**<br>**Tenure** | **Total<br>Compensation** | **Average<br>Compensation**<br>**Per Person** | **Note** |
| | **Total** | **(Short time<br>worker)** | **Total** | **(Short time<br>worker)** | **Total** | **Average**<br>**Tenure** | **Total<br>Compensation** | **Average<br>Compensation**<br>**Per Person** | **Note** |
|  **Total** | 111 |  | 39 |  | 150 | 2 years 11 months<br> (15 years 10 months)  | 29242 | 189 |  |

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Note 1) 18 employees concurrently employed by affiliated companies are excluded

Note 2) Average tenure: term in () includes tenure at affiliated companies

Note 3) Contract employees include non-registered executives

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##### [**Table of Contents**](#toc)
**3.** **Directors' Compensation** 

As of December 31, 2022 (units: persons, millions of Won)

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| | | | | |
|:---|:---|:---|:---|:---|
| **Items** | **Number of<br>Persons** | **Total<br>Compensation** | **Average<br>Compensation**<br>**Per Director** | **Note** |
|  Registered Directors<br> (excludes outside directors and audit committee members) | 2 | 1475 | 695 |  |
|  Outside Directors<br> (excludes audit committee members) | 4 | 288 | 79 |  |
|  Audit Committee Members | 3 | 166 | 55 |  |
|  Auditor |  |  |  |  |

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Note 1) Registered directors and audit committee members include uncompensated directors

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| | |
|:---|:---|
| Note 2) | Only the compensation amount paid by Woori Financial Group is included for the three executives concurrently employed by Woori Bank  |

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Note 3) Number of Persons is as of December 31, 2022

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| | |
|:---|:---|
| Note 4) | Total Compensation is the amount paid until December 31, 2022  |

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| | |
|:---|:---|
| Note 5) | Average compensation per director was calculated by dividing the total compensation until December 31, 2022 by the annualized number of persons / The annualized number of persons include newly appointed three outside directors and resigned 1 non-standing director  |

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##### [**Table of Contents**](#toc)
**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | Woori Financial Group Inc. | Woori Financial Group Inc. |
|  | (Registrant) | (Registrant) |
| Date: March 16, 2023 | By: | /s/ Sung-Wook Lee |
|  | (Signature) | (Signature) |
|  | Name: Sung-Wook Lee | Name: Sung-Wook Lee |
|  | Title: Deputy President | Title: Deputy President |

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