Board Diversity Guidelines

Shinhan Financial Group recognizes and embraces the benefits of having a diverse Board to make important
decisions based on a wider perspective with better consideration of the interests of its shareholders,
customers and other stakeholders.
At the end of each year, the Board determines the direction for next year’s director candidate selection
and the composition of the board with an aim to fulfill the following diversity requirements:

Expertise
- aRequired Expertise: finance, business management (operation of organizations), economy, law, accounting
- bDetailed Expertise: overseas work experience, digital, investment banking (IB), risk management, consumer protection,
  and other fields of expertise a director of a financial company needs
- cOutside Director Experience: Understanding of director’s duties
Diversity
- aNationality: Candidates of various nationality, reflecting the Company’s international operations
- bGender: Candidates of different genders, reflecting the principle of gender equality, to operate the Board based
  on diversified perspectives - At least 1/5 of the director candidate pool should be females
- cAge: Candidates of harmonized age, in order to flexibly respond to changes in the management environment
  and to enhance the efficiency of the board - 15 years older or younger than the CEO
- dOthers: Candidates will not be discriminated by other diversity factors, including
  but not limited to race, religion, ethnicity, nationality.
Recommendation:
- Employing an open approach when recommending independent directors, in order
  to enhance the interests of various stakeholders