Shinhan Financial : 4Q 2023 Pillar III Capital Disclosures

Pillar III

Capital Disclosures

SHINHAN FINANCIAL GROUP 4Q 2023 REPORT

Table of Contents

Ⅰ.	BIS-based Capital Disclosure	03
Ⅱ.	Consolidated Statement of Financial Position linked to Equity Items	05
(Accounting and Supervisory Purposes)
Ⅲ.	Main features of Capital Instruments	07
Ⅳ.	Group Capital Adequacy Assessment Method	14
Ⅴ.	Risk-Weighted Assets and Required Capital by Risk	14

Ⅰ.BIS-based Capital Disclosure

(Unit: KRW Billion)

Common Equity Tier 1 capital: instruments and reserves

• 1 Directly issued qualifying common share (and equivalent for non-joint stock companies) capital plus related stock surplus

• 2 Retained earnings

• 3 Accumulated other comprehensive income (and other reserves)

• 4 Directly issued capital subject to phase-out from CET1 (only applicable to non-joint stock companies)

• 5 Common share capital issued by subsidiaries and held by third parties (amount allowed in group CET1)

• 6 Common Equity Tier1 capital before regulatory adjustments

Common Equity Tier 1 capital: regulatory adjustments

7

8

Prudent valuation adjustments Goodwill (net of related tax liability)

9

Other intangibles other than mortgage servicing rights (net of related tax liability)

10

Deferred tax assets that rely on future profitability, excluding those arising from temporary differences (net of related tax liability)

11

Cash flow hedge reserve

12

13

Shortfall of provisions to expected losses Securitisation gain on sale

14

15

Gains and losses due to changes in own credit risk on fair valued liabilities Defined benefit pension fund net assets

16

17

Investments in own shares (if not already subtracted from paid-in capital on reported balance sheet) Reciprocal cross-holdings in common equity

18

Investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation, where the bank does not own more than 10% of the issued share capital (amount above 10% threshold)

19

Significant investments in the common stock of banking, financial and insurance entities that are outside the scope of regulatory consolidation (amount above 10% threshold)

20

Mortgage servicing rights (amount above 10% threshold)

21

22

Deferred tax assets arising from temporary differences (amount above 10% threshold, net of related tax liability) Amount exceeding the 15% threshold

23

• Of which: significant investments in the common stock of financials

  24

• Of which: mortgage servicing rights

  25

• Of which: deferred tax assets arising from temporary differences

26

National specific regulatory adjustments

27

28

Regulatory adjustments applied to Common Equity Tier 1 due to insufficient Additional Tier 1 and Tier 2 to cover deductions Total regulatory adjustments to Common Equity Tier 1

29

Common Equity Tier 1 capital (CET1)

Additional Tier 1 capital: instruments

30

Directly issued qualifying additional Tier 1 instruments plus related stock surplus

31

Of which: classified as equity under applicable accounting standards

32

Of which: classified as liabilities under applicable accounting standards

33

Directly issued capital instruments subject to phase-out from additional Tier 1

34

Additional Tier 1 instruments (and CET1 instruments not included in row 5) issued by subsidiaries and held by third parties (amount allowed in group AT1)

35

36

Of which: instruments issued by subsidiaries subject to phase-out Additional Tier 1 capital before regulatory adjustments

Additional Tier 1 capital: regulatory adjustments

37 38 39

Investments in own additional Tier 1 instruments Reciprocal cross-holdings in additional Tier 1 instruments

Investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation, where the bank does not own more than 10% of the issued common share capital of the entity (amount above 10% threshold)

40

Significant investments in the capital of banking, financial and insurance entities that are outside the scope of regulatory consolidation

41

National specific regulatory adjustments

42

43

Regulatory adjustments applied to additional Tier 1 due to insufficient Tier 2 to cover deductions Total regulatory adjustments to additional Tier 1 capital

44

Additional Tier 1 capital (AT1)

45

Tier 1 capital (T1 = CET1 + AT1)

(Unit: KRW Billion)

46 Directly issued qualifying Tier 2 instruments plus related stock surplus

47 Directly issued capital instruments subject to phase-out from Tier 2

48 49

Tier 2 instruments (and CET1 and AT1 instruments not included in rows 5 or 34) issued by subsidiaries and held by third parties (amount allowed in group Tier 2)

Of which: instruments issued by subsidiaries subject to phase-out

50 Provisions

51 Tier 2 capital before regulatory adjustments Tier 2 capital: regulatory adjustments

• 52 Investments in own Tier 2 instruments

• 53 Reciprocal cross-holdings in Tier 2 instruments and other TLAC liabilities

  Investments in the capital and other TLAC liabilities of banking, financial and insurance entities that are outside the scope of

• 54 regulatory consolidation, where the bank does not own more than 10% of the issued common share capital of the entity (amount above 10% threshold)

  Investments in the other TLAC liabilities of banking, financial and insurance entities that are outside the scope of regulatory 54a consolidation and where the bank does not own more than 10% of the issued common share capital of the entity: amount previously designated for the 5% threshold but that no longer meets the conditions (for G-SIBs only)

55

Significant investments in the capital and other TLAC liabilities of banking, financial and insurance entities that are outside the scope of regulatory consolidation (net of eligible short positions)

56

National specific regulatory adjustments

57

58

Total regulatory adjustments to Tier 2 capital Tier 2 capital (T2)

59

60

Total regulatory capital (TC = T1 + T2) Total risk-weighted assets

Capital Ratios and Buffers

• 61 Common Equity Tier 1 (as a percentage of risk-weighted assets)

• 62 Tier 1 (as a percentage of risk-weighted assets)

• 63 Total capital (as a percentage of risk-weighted assets)

64

Institution-specific buffer requirement (capital conservation buffer plus countercyclical buffer requirements plus higher loss absorbency requirement, expressed as a percentage of risk-weighted assets)

65

• Of which: capital conservation buffer requirement

  66

• Of which: bank-specific countercyclical buffer requirement

  67

• Of which: bank G-SIB/D-SIB additional requirement

68

Common Equity Tier 1 (as a percentage of risk-weighted assets) available after meeting the bank's minimum capital requirements

National minima (if different from Basel III)

• 69 National Common Equity Tier 1 minimum ratio (if different from Basel III minimum)

• 70 National Tier 1 minimum ratio (if different from Basel III minimum)

• 71 National total capital minimum ratio (if different from Basel III minimum)

Amounts below the thresholds for deduction (before risk weighting)

• 72 Non-significant investments in the capital and other TLAC liabilities of other financial entities

• 73 Significant investments in the common stock of financial entities

• 74 Mortgage servicing rights (net of related tax liability)

• 75 Deferred tax assets arising from temporary differences (net of related tax liability)

Applicable caps on the inclusion of provisions in Tier 2

76 Provisions eligible for inclusion in Tier 2 in respect of exposures subject to standardized approach (prior to application of cap)

77 Cap on inclusion of provisions in Tier 2 under standardised approach Provisions eligible for inclusion in Tier 2 in respect of exposures subject to internal ratings-based approach

(prior to application of cap)

7789 Cap for inclusion of provisions in Tier 2 under internal ratings-based approach

Capital instruments subject to phase-out arrangements (only applicable between 1 Jan 2018 and 1 Jan 2022)

• 80 Current cap on CET1 instruments subject to phase-out arrangements

• 81 Amount excluded from CET1 due to cap (excess over cap after redemptions and maturities)

• 82 Current cap on AT1 instruments subject to phase-out arrangements

• 83 Amount excluded from AT1 due to cap (excess over cap after redemptions and maturities)

• 84 Current cap on T2 instruments subject to phase-out arrangements

• 85 Amount excluded from T2 due to cap (excess over cap after redemptions and maturities)

Ⅱ. Consolidated Statement of Financial Position linked to Equity Items

(Accounting and Supervisory Purposes)

(Unit: KRW Billion)

Title of AccountConsolidated B/S for Accounting

PurposesConsolidated B/S for Supervisory

PurposesReference

A. Assets

691,795

638,773

• 1 Cash and due from banks at amortized cost

• 2 Due from banks at fair value through profit or loss

• 3 Securities at fair value through profit or loss

• 4 Financial assets designated at fair value through profit or loss

• 5 Derivative assets

• 6 Loans at amortized cost

  Provisions

  (Amount recognised in Tier 2 capital)

• 7 Due from banks at fair value through profit or loss

• 8 Securities at fair value through other comprehensive income

• 9 Securities at amortised cost

• 10 Property and equipment, net

• 11 Intangible assets

  Goodwill

  Other intangible assets

• 12 Investment Using Equity Method

• 13 Deferred tax assets

• 14 Current tax receivable

• 15 Investment property

• 16 Other assets

• 17 Assets held for sale

34,629 31 69,427

32,897 - 58,297

-

-

4,711

4,668

411,740

407,444

-4,330 -

-4,287

1,382

A

1,759

1,751

90,312

54,684

35,686

31,048

3,972

3,786

6,218

5,149

4,677

1,541

3,855

1,294

B C

2,692

9,589

154

160

31

47

258

243

29,926

28,682

36

36

B. Liabilities

635,473

• 18 Deposits

• 19 Financial liabilities at fair value through profit or loss

• 20 Financial liabilities designated at fair value through profit or loss

  Finance debit valuation adjustment

• 21 Derivative liabilities

  Finance debit valuation adjustment

• 22 Borrowings

• 23 Debt securities issued

  Subordinated Corporate Bond (group)

  Amount recognised in Tier 2 capital

  Subordinated Corporate Bond (Bank)

  Amount recognised in Tier 2 capital

• 24 Net defined benefit liabilities

• 25 Provisions

• 26 Deferred tax liabilities

• 27 Liabilities under insurance contracts

• 28 Other Liabilities

• 29 Current tax payable

• 30 Liabilities held for sale

381,513

1,869

582,770381,754 1,869

7,797

7,797

-

-99

D

5,038 -

4,854 -

E

56,901

55,859

81,562

81,322

597 - - -

597

128

F

5,084

2,139

G

68

16

1,370

1,282

48,333

543

-441 -

48,722

48,294

92 -

163 -(Unit: KRW Billion)

for Accounting
Purposes
56,322
31	Common stock	2,970
Amount recognised in Common Equity Tier1 capital	-	2,970	H
Amount not recognised as capital	-	-
32	Hybrid bonds	4,002	4,002
Amount recognised in Tier 1 capital	-	4,002	I
33	Capital surplus	12,095	12,095
Amount recognised in Common Equity Tier1 capital	-	11,353
Capital Surplus related to Common Equity	-	11,353	J
Other Capital Surplus	-	742	K
Amount recognised in Tier 1 capital	-	-
Amount not recognised as capital	-	-
34	Capital adjustment	-659	-659	L
35	Accumulated other comprehensive loss	-1,074	-1,074	M
Net loss from cash flow hedges	-	-35	N
36	Retained earings	36,387	36,387	O
Regulatory reserve for loan losses	-	-	P
37	Noncontrolling interests	2,601	2,601
Amount recognised in Common Equity Tier1 capital	-	50	Q
Amount recognised in Tier 1 capital	-	1,117	R

Title of AccountConsolidated B/SConsolidated B/S for Supervisory

PurposesReference

C. Equity

56,0032,970

Note 1) Consolidated scope for accounting purposes: Based on K-IFRS consolidated financial statements

2) Scope of consolidation for supervisory purposes: Excluding parts of insurance companies and mixed trusts that do not have a principal preservation agreement from the scope of consolidation for accounting purposes

(The Regulations of Financial Holding Company Supervision Regulations

)

Ⅲ. Main features of Issuance of Capital Instruments

(Unit: KRW Billion)

Transitional Basel III rules

4

Post transitional Basel III rules Eligible at solo / group / group & solo Instrument type

5

Transitional Basel III rules Post transitional Basel III rules Eligible at solo / group / group & solo Instrument type

6

Transitional Basel III rules Post transitional Basel III rules Eligible at solo / group / group & solo Instrument type

Shinhan Financial

GroupShinhan Financial G roupAdditional Tier 1

CapitalAdditional Tier 1

CapitalShinhan Financial

GroupAdditional Tier 1

CapitalAdditional Tier 1

CapitalShinhan Financial

GroupAdditional Tier 1

CapitalAdditional Tier 1

CapitalShinhan Financial

Group

7

Transitional Basel III rules Post transitional Basel III rules Eligible at solo / group / group & solo Instrument type

StockBasel 3 Compliant Additional Tier1

CapitalBasel 3 Compliant Additional Tier1

CapitalBasel 3 Compliant Additional Tier1

CapitalBasel 3 Compliant Additional Tier1

Capital

• 8 Amount recognized in regulatory capital (KRW Bn.)

• 9 Par value of instrument (KRW Bn.)

  2,695.59 2,695.59

  199.46 200.00

  89.78 90.00

  14.95 15.00

  199.48 200.00

• 10 Accounting classification

• 11 Original date of Issuance

• 12 Perpetual or Dated

  Equity - Perpetual

  Equity 2015-06-25

  Dated

  Equity 2017-09-15 Perpetual

  Equity 2018-04-13 Perpetual

  Equity 2019-06-28 Perpetual

  13

  Original maturity date

  -

  2045-06-25

  -

  -

  -

• 14 Issuer call subject to prior supervisory approval

No

Yes

Yes

Yes

Yes

15

Optional call date, contingent call dates and redemption amount

16

Subsequent call dates, if applicable

--

Call Date : 2025-06-25 Amount: at Par Date after 10 years from the date of issuance

Call Date : 2027-09-15 Amount: at Par Every 3 months from 10 years of issuance

Call Date : 2023-04-13 Amount: at Par Every 3 months fro m 5 years of issuan ce

Call Date : 2024-06-28 Amount: at Par Every 3 months fro m 5 years of issuan ce

Coupons / Dividends

• 17 Fixed or floating dividend / coupon

  Fixed

  Fixed

  Fixed

• 18 Coupon rate and any related index

• 19 Existence of a dividend stopper

• 20 Fully discretionary, partially discretionary or mandatory

  Within the limit of dividend available

• 21 Existence of step up or other incentive to redeem

• 22 Noncumulative or cumulative

• 23 Convertible or non-convertible

  None Noncumulative -

  None Noncumulative -

  None Noncumulative -

  None Noncumulative -

  None Noncumulative -

• 24 If convertible, conversion trigger

  -

  -

  -

  -

  -

• 25 If convertible, fully or partially

  -

  -

  -

  -

  -

• 26 If convertible, conversion rate

  -

  -

  -

  -

  -

• 27 If convertible, mandatory or optional conversion

• 28 If convertible, specify instrument type convertible into

• 29 If convertible, specify issuer of instrument it converts into

• 30 Write-down feature

• 31 If write-down, write-down trigger

  - - - -

  -

  - - - Included Designated as an insolvent financial institution

  - - - Included Designated as an insolvent financial institution

  - - - Included Designated as an insolvent financial institution

  - - - Included Designated as an insolvent financial institution

• 32 If write-down, full or partial

• 33 If write-down, permanent or temporary

• 34 If temporary write-down, description of write-up mechanism

  - - -

  Full Permanent -

  Full Permanent -

  Full Permanent -

  Full Permanent -

• 35 Previously Senior Securities(the security column number)

  Basel 3 Compliant Ad ditional Tier1 Capital

  (2~15,19~26, 43)

  Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)

  Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)

  Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)

  Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)

• 36 Basel III Non-compliant transitioned features

• 37 If non-compliant, specify non-compliant features

Compliant -Compliant -Compliant -Compliant -Compliant -

Note1) If the Bank is designated as an insolvent financial institution in accordance with the 「Act on Structural Improvement of the Financial Industry」,

the debentures are permanently amortized in full.

Amortization of this bond is not considered a cause for default.

6	7	8	9	10	11	12	13
Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Gro up	Shinhan Financial Gro up
KR6055551A91	KR6055551B33	KR6055551B32	Rule 144A Notes: US824596AA84 Regualtion S Notes: USY7749XAY77	KR6055551C16	KR6055552C15	KR6055553C89	KR6055554C88
- Commercial Law - Financial Holding Companies Act	- Commercial Law - Financial Holding Companies Act	- Commercial Law - Financial Holding Companies Act	- Commercial Law - Banking Act - Law of New York( OC)	- Commercial Law - Financial Holding Companies Act	- Commercial Law - Financial Holding Companies Act	- Commercial Law - Financial Holding C ompanies Act	- Commercial Law - Financial Holding C ompanies Act
Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital
Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital
Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group
Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital
448.70	429.01	169.58	556.01	560.44	37.85	343.03	55.80
450.00	430.00	170.00	USD 0.5	562.00	38.00	344.00	56.00
Equity	Equity	Equity	Equity	Equity	Equity	Equity	Equity
2020-09-17	2021-03-16	2021-03-16	2021-05-12	2022-01-25	2022-01-25	2022-08-26	2022-08-26
Perpetual	Perpetual	Perpetual	Perpetual	Perpetual	Perpetual	Perpetual	Perpetual
-	-	-	-	-	-	-	-
Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Call Date : 2025-09-17 Amount: at Par	Call Date : 2026-03-16 Amount: at Par	Call Date : 2031-03-16 Amount: at Par	Call Date : 2026-05-12 Amount: at Par	Call Date : 2027-01-25 Amount: at Par	Call Date : 2032-01-25 Amount: at Par	Call Date : 2027-08-26 Amount: at Par	Call Date : 2029-08-26 Amount: at Par
Every 3 months from 5 years of issuance	Every 3 months from 5 years of issuance	Every 3 months from 10 years of issuance	Every 3 months from 5 years of issuance	Every 3 months from 5 years of issuance	Every 3 months from 10 years of issuance	Every 3 months from 5 years of issuance	Every 3 months from 7years of issuance
Fixed	Fixed	Fixed	Fixed	Fixed	Fixed	Fixed	Fixed
3.12%	2.94%	3.30%	2.88%	3.90%	4.00%	4.93%	5.15%
-	-	-	-	-	-	-	-
Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary
None	None	None	None	None	None	None	None
Noncumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
Included	Included	Included	Included	Included	Included	Included	Included
Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an ins olvent financial insti tution	Designated as an ins olvent financial insti tution	Designated as an insol vent financial instituti on	Designated as an insol vent financial instituti on
Full	Full	Full	Full	Full	Full	Full	Full
Permanent	Permanent	Permanent	Permanent	Permanent	Permanent	Permanent	Permanent
-	-	-	-	-	-	-	-
Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant Sub ordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant Sub ordinated Debt (16, 27~41, 44~46)
Compliant	Compliant	Compliant	Compliant	Compliant	Compliant	Compliant	Compliant
-	-	-	-	-	-	-	-

Note1) If the Bank is designated as an insolvent financial institution in accordance with the 「Act on Structural Improvement of the Financial Industry」,

the debentures are permanently amortized in full.

Amortization of this bond is not considered a cause for default.

14	15	16	17	18	19	20	21
Shinhan Financial Gr oup	Shinhan Financial Group	Shinhan Financial Group	Shinhan Bank (Cambodia) PLC.	PT BankShinhan Indonesia	Shinhan Bank	Shinhan Bank	Shinhan Bank
KR6055551D15	KR6055551D72	Rule 144A Notes: US82460P2A28 Regualtion S Notes: US82460Q2A00	-	-	KR600001A762	KR6000016925	KR6000011A26
- Commercial Law - Financial Holding Companies Act	- Commercial Law - Financial Holding Companies Act	- Commercial Law - Banking Act - Law of New York( OC)	- Commercial Law - Banking Act - The Laws of Camb odia	- Commercial Law - Banking Act - the Laws of Indone sia	-Commercial Law -Banking Act	-Commercial Law -Banking Act	-Commercial Law -Banking Act
Additional Tier 1 Capital	Additional Tier 1 Capital	Tier2	Common Equity Tier 1 Capital	Common Equity Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital
Additional Tier 1 Capital	Additional Tier 1 Capital	Tier2	Common Equity Tier 1 Capital	Common Equity Tier 1 Capital	Eligible Equity Capital	Eligible Equity Capital	Eligible Equity Capital
Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank
Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Tier2 Subordinated Debt	Stock	Stock	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital
398.83	498.81	128.19	-	-	38.01	162.89	130.31
400.00	500.00	USD 0.5	5.34	0.82	70.00	300.00	240.00
Equity	Equity	Liability at amortized cost	Non-controlling Shareholder of Consolidated Subsidiaries	Non-controlling Shareholder of Consolidated Subsidiaries	Equity	Equity	Equity
2023-01-30	2023-07-13	2019-08-05	-	-	2017-06-29	2019-02-25	2020-02-25
Perpetual	Perpetual	Dated	Perpetual	Perpetual	Perpetual	Perpetual	Perpetual
-	-	2030-02-05	-	-	-	-	-
Yes	Yes	Yes	-	-	Yes	Yes	Yes
Call Date : 2028-01-30 Amount: at Par	Call Date : 2028-07-13 Amount: at Par	Call Date : 2025-02-05 Amount: at Par	-	-	Call Date : 2027-06-29 Amount : at Par	Call Date : 2024-02-25 Amount : at Par	Call Date : 2025-02-25 Amount : at Par
Every 3 months from 7years of issuance	Every 3 months from 5years of issuance	-	-	-	Every 3 months from 10 years of issuance	Every 3 months from 5 years of issuance	Every 3 months from 5 years of issuance
Fixed	Fixed	Fixed	Floating Dividend	Floating Dividend	Fixed	Fixed	Fixed
5.14%	5.40%	3.34%	Within the limit of Dividend Payable	Within the limit of Dividend Payable	3.81%	3.30%	2.88%
-	-	-	-	-	-	-	-
Fully discretionary	Fully discretionary	Mandatory	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary
None	None	None	None	None	None	None	None
Noncumulative	Noncumulative	Cumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
Included	Included	Included	-	-	Included	Included	Included
Designated as an ins olvent financial insti tution	Designated as an ins olvent financial insti tution	Designated as an insolvent financial institution	-	-	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution
Full	Full	Full	-	-	Full	Full	Full
Permanent	Permanent	Permanent	-	-	Permanent	Permanent	Permanent
-	-	-	-	-	-	-	-
Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Senior Debt	Basel 3 Compliant A dditional Tier1 Capit al(2~15,19~26,43)	Basel 3 Compliant A dditional Tier1 Capit al(2~15,19~26,43)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant Sub ordinated Debt (16, 27~41, 44~46)
Compliant	Compliant	Compliant	Compliant	Compliant	Compliant	Compliant	Compliant
-	-	-	-	-	-	-	-

Every 3 months from 5

Note1) If the Bank is designated as an insolvent financial institution in accordance with the 「Act on Structural Improvement of the Financial Industry」,

the debentures are permanently amortized in full.

Amortization of this bond is not considered a cause for default.

22	23	24	25	26	27	28	29
Shinhan Bank	Shinhan Bank	Shinhan Bank	Shinhan Bank	Shinhan Bank	Shinhan Bank	Shinhan Bank	Shinhan Bank
KR6000012A25	KR6000012AB3	KR6000012C56	KR6000014CA7	KR6000011D31	KR6000011546	KR60000115C6	Rule 144A Notes: US82460CAJ36 Regulation S Notes: U S82460EAJ91
-Commercial Law -Banking Act	-Commercial Law -Banking Act	-Commercial Law -Banking Act	-Commercial Law -Banking Act	-Commercial Law -Banking Act	-Commercial Law -Banking Act	-Commercial Law -Banking Act	- Commercial Law - Banking Act - Law of New York(O C)
Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Additional Tier 1 Capital	Tier2	Tier2	Tier2
Eligible Equity Capital	Eligible Equity Capital	Eligible Equity Capit al	Eligible Equity Capit al	Eligible Equity Capital	Non-elgible Equity Capital	Eligible Equity Capital	Eligible Equity Capital
Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank	Shinhan Financial Group Shinhan Bank
Basel 3 Compliant A dditional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Additional Tier1 Capital	Basel 3 Compliant Tier2 Subordinated Debt	Basel 3 Compliant Tier2 Subordinated D ebt	Basel 3 Compliant Tier2 Subordinated D ebt
27.15	162.89	175.38	168.32	217.19	36.08	36.08	155.06
50.00	300.00	323.00	310.00	400.00	300.00	300.00	USD 0.5
Equity	Equity	Equity	Equity	Equity	Liability at amortized cost	Liability at amortized cost	Liability at amortized cost
2020-02-25	2020-11-05	2022-05-03	2022-10-17	2023-03-07	2015-04-17	2015-12-04	2016-03-24
Perpetual	Perpetual	Perpetual	Perpetual	Perpetual	Dated	Dated	Dated
-	-	-	-	-	2025-04-17	2025-12-04	2026-03-24
Yes	Yes	Yes	Yes	Yes	-	-	-
Call Date : 2030-02-25 Amount : at Par	Call Date : 2025-11-05 Amount : at Par	Call Date : 2027-05-03 Amount : at Par	Call Date : 2027-10-17 Amount : at Par	Call Date : 2028-03-07 Amount : at Par	-	-	-
Every 3 months from 10 years of issuance	Every 3 months from 5 years of issuance	Every Interest Payme nt Date from 5 years of issuance	Every 3 months from 5 years of issuance	Every 3 months from 5 years of issuance	-	-	-
Fixed	Fixed	Fixed	Fixed	Fixed	Fixed	Fixed	Fixed
3.08%	2.87%	4.50%	5.70%	4.63%	2.72%	3.01%	3.88%
-	-	-	-	-	-	-	-
Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Fully discretionary	Mandatory	Mandatory	Mandatory
None	None	None	None	None	None	None	None
Noncumulative	Noncumulative	Noncumulative	Noncumulative	Noncumulative	Cumulative	Cumulative	Cumulative
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
Included	Included	Included	Included	Included	Included	Included	Included
Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution	Designated as an insolvent financial institution
Full	Full	Full	Full	Full	Full	Full	Full
Permanent	Permanent	Permanent	Permanent	Permanent	Permanent	Permanent	Permanent
-	-	-	-	-	-	-	-
Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Basel 3 Compliant S ubordinated Debt (16, 27~41, 44~46)	Senior Debt	Senior Debt	Senior Debt
Compliant	Compliant	Compliant	Compliant	Compliant	Compliant	Compliant	Compliant
-	-	Contingent Capital S ecurities requiremen ts not met	Contingent Capital S ecurities requiremen ts not met	Contingent Capital Securities requireme nts not met	-	-	-

Note1) If the Bank is designated as an insolvent financial institution in accordance with the 「Act on Structural Improvement of the Financial Industry」,

the debentures are permanently amortized in full.

Amortization of this bond is not considered a cause for default.

10