6-K - WF - Equibles

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

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

THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2025

Commission File Number: 001-31811

Woori Financial Group Inc.

(Translation of registrant’s name into English)

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

(Address of principal executive office)

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 ☐

	Index
1.	Summary of 2025 1H Business Report
2.	Exhibit 99.1 Woori Financial Group Review Report for 2025 1H (Consolidated)
3.	Exhibit 99.2 Woori Financial Group Review Report for 2025 1H (Separate)

Summary of 2025 First Half Business Report

Table of Contents

I.	INTRODUCTION OF THE COMPANY	2
1.	Overview of the Company	2
2.	Capital Structure (Changes in Capital)	8
3.	Total Number of Authorized Shares	8
II.	BUSINESS OVERVIEW	9
1.	Results of Operations	9
2.	Funding Sources and Uses of Funds	9
3.	Other Information Necessary for Making Investment Decisions	10
III.	FINANCIAL INFORMATION	15
1.	Condensed Financial Statements (Consolidated)	15
2.	Condensed Financial Statements (Separate)	17
3.	Dividend Information	19
IV.	INDEPENDENT AUDITOR’S OPINION	20
1.	Independent Auditor’s Opinion	20
2.	Compensation to the Independent Auditor	20
V.	CORPORATE GOVERNANCE	22
1.	About the Board of Directors	22
2.	Shareholder’s Meeting	24
VI.	SHAREHOLDER INFORMATION	26
1.	Share Distribution	26
2.	Stock Price and Stock Market Performance	28
VII.	DIRECTORS AND EMPLOYEE INFORMATION	29
1.	Directors and Executives	29
2.	Employee Status	30
3.	Directors’ Compensation	30
4.	Stock-based Compensation	30
VIII.	INTERNAL CONTROLS	31
1.	Management’s Assessment of the Effectiveness of the Internal Accounting Management System	31
2.	Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System	31
3.	External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal Accounting Management System	32

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.

I.	Introduction of the Company
1.	Overview of the Company
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a.	History (Recent 5 years) ****
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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
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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<br>year)

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<br>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 (52% ownership)
March 23, 2023	Daol Investment, re-named Woori Venture Partners, incorporated as a subsidiary into the Company
March 24, 2023	Jong-Yong Yim appointed as the 9th chairman of Woori Financial Group (4th annual general meeting of shareholders of Woori Financial Group)
April 21, 2023	Resolved to repurchase and cancel treasury shares, a first-time since the transition to a holding company
June 01, 2023	Entered into a comprehensive stock exchange agreement with Woori Investment Bank and Woori Venture Partners
August 08, 2023	Woori Investment Bank and Woori Venture Partners to each become a wholly-owned subsidiary of the Company
August 24, 2023	Group Carbon Emission Reduction Target validated by SBTi (Science Based Targets initiative)
October 05, 2023	Entered into a memorandum of understanding with the Korea Deposit Insurance Corporation to purchase its remaining stake in Woori Financial Group (1.2%)
December 22, 2023	A capital increase of KRW 500 billion conducted by Woori Investment Bank (to enhance competitiveness)
December 26, 2023	Obtained an ‘AAA’ rating from MSCI ESG assessment
March 13, 2024	Resolved to acquire and cancel the remaining shares owned by the Korea Deposit Insurance Corporation
August 1, 2024	Established Woori Investment Securities Co., Ltd. as a new direct subsidiary

August 28, 2024	Entered into share purchase agreements to acquire Tongyang Life Insurance and ABL Life Insurance
September 24, 2024	Included in the ‘KRX Korea Value-up Index’
November 28, 2024	Launched the new universal banking mobile application NEW ‘Woori WON Banking’
December 17, 2024	Included in the Dow Jones Sustainability Indexes (DJSI) World Index
March 26, 2025	Established an Ethics and Internal Control Committee within the Board of Directors
July 1, 2025	Incorporated Tongyang Life Insurance and ABL Life Insurance as subsidiaries of the Company
July 31, 2025	Integrated Woori Asset Trust Co., Ltd. as a wholly-owned subsidiary of the Company
b.	Affiliated Companies
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(1)	Overview of Business Group
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1.	Name of business group: Woori Financial Group Inc.
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(2)	Affiliated companies within the business group
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As of June 30, 2025

Type	Name of Company
Listed company<br> <br>(3<br>companies)	Woori Financial Group
	PT Bank Woori Saudara Indonesia 1906 Tbk
	PT Woori Finance Indonesia Tbk
Unlisted company<br> <br>(35<br>companies)	Woori Bank
	Woori Card
	Woori Financial Capital
	Woori Investment Securities
	Woori Asset Trust
	Woori Savings Bank
	Woori Financial F&I Inc.
	Woori Asset Management
	Woori Venture Partners
	Woori Private Equity Asset Management
	Woori Credit Information

Type	Name of Company
	Woori Fund Services
	Woori FIS
	Woori Finance Research Institute
	Korea BTL Infrastructure Fund
	Woori America Bank
	Woori Bank China Limited
	AO Woori Bank
	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.
	WFBS Financial Stability Private Equity Fund No.1
	Woori Venture Partners US, Inc.
	KTBN GI Private Equity Fund
	Arden Woori Apparel 1st Private Equity Fund
	Woori Dino 1st Private Equity Fund
	Green ESG Growth No.1 Private Equity Fund
	Woori Corporate Turnaround No.1 Private Equity Fund
	NH Woori Dino Co-Investment No.2 Private Equity Fund
	Woori Eugene Energy Link Private Equity Fund
Note 1)	Includes first-tier and second-tier subsidiaries under the Financial Holding Company Act
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LOGO

1)	Including group company shares 34.67%
2)	Including group company shares 36.15%
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3)	Including group company shares 7.86%
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2.	Capital Structure (Changes in Capital)

This section has been omitted for half-year business reports, pursuant to Korean regulations (revised in March 2022) that allow for such omissions. For information on this section, please refer to the Form 6-K furnished to the Securities and Exchange Commission on March 18, 2025 under the title “Summary of 2024 Business Report.”

3.	Total Number of Authorized Shares
As of June 30, 2025	(unit: shares)
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Items	Type				Notes
---	---	---	---	---	---
	Common Shares		Total
Number of authorized shares		4,000,000,000		4,000,000,000	—
Number of issued shares		760,535,260		760,535,260	—
Number of decreased shares		17,943,759		17,943,759	Cancellation of Treasury<br> <br>Shares<br><br><br>Note 1)
Number of treasury shares		8,562,964		8,562,964	Note 2), Note 3)
Number of outstanding shares		734,028,537		734,028,537	—
Note 1)	Cancellation of treasury shares : 8,585,799 shares in October 2023, 9,357,960 shares in March 2024<br>
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Note 2)	Including 53,945 shares acquired through the issuance of fractional shares (2 shares acquired from the partial<br>replacement of physical stock certificates in 2019, 2,322 new fractional shares were added in August 2021 due to the comprehensive stock exchange between Woori Financial Group and Woori Financial Capital, 51,621 shares from comprehensive stock<br>exchange between Woori Financial Group and Woori Investment Bank and between Woori Financial Group and Woori Venture Partners in August 2023)
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Note 3)	Including the acquisition of 8,509,019 shares under a share buyback program via a trust agreement for the first<br>half of 2025 (based on the shareholders’ register as of June 30, 2025). The purchase of 8,515,181 shares, equivalent to the trust agreement amount of KRW 150 billion, was completed as of June 30, 2025.
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II.	Business Overview
1.	Results of Operations
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(unit: billions of Won)

Type	2025 1H		2024			2023
Operating income		1,978		4,255			3,499
Net non-operating income (expense)		73		(32	)		18
Income before income tax		2,051		4,223			3,517
Income tax expense (-)		457		1,051			891
Net income		1,594		3,171			2,627
Controlling Interest		1,552		3,086			2,506
Non-controlling Interest		42		85			121
Note 1)	Based on K-IFRS consolidated financial statements
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2.	Funding Sources and Uses of Funds
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a.	Sources of Funds
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For the periods indicated other than as noted below	(units: millions of Won, %)
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Classification	FundingSource			2025 1H							2024							2023
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			AverageBalance			InterestRate		Proportion		AverageBalance			Interest<br>Rate		Proportion		AverageBalance			Interest<br>Rate		Proportion
Source		Deposits			357,628,895		2.54		68.82			351,584,810		2.88		69.89			324,824,465		2.83		68.98
		Borrowings			26,688,773		3.52		5.14			28,000,803		4.09		5.57			28,052,983		4.02		5.96
		Debentures			48,108,890		3.72		9.26			43,989,333		4.00		8.74			42,458,653		3.55		9.02
		Others			51,524,199		—		9.91			44,591,752		—		8.86			42,829,998		—		9.09
Total Liabilities					483,950,757		—		93.13			468,166,698		—		93.06			438,166,099		—		93.05
Total Equity					35,711,263		—		6.87			34,913,425		—		6.94			32,708,219		—		6.95
Total Liabilities & Equity					519,662,020		—		100.00			503,080,123		—		100.00			470,874,318		—		100.00
Note 1)	Average Balance : the simple average of the balances at the start of the fiscal year and at the end of each<br>quarter
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Note 2)	Based on K-IFRS consolidated financial statements<br>
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b.	Use of Funds
For the periods indicated other than as noted below	(units: millions of Won, %)
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Type	ManagedItem	2025 1H						2024						2023
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		Average<br>Balance		Interest<br>Rate		Proportion		AverageBalance		InterestRate		Proportion		AverageBalance		InterestRate		Proportion
Use	Cash & Due from Banks		18,078,561		3.20		3.48		18,441,851		3.38		3.67		16,692,268		3.26		3.54
	Marketable securities		78,200,671		3.53		15.05		76,997,821		3.53		15.31		75,522,522		3.61		16.04
	Loans		365,864,908		4.59		70.40		360,802,414		4.93		71.72		334,205,508		5.08		70.98
	Loans in local currency		314,462,020		4.28		60.51		309,771,603		4.65		61.58		287,312,990		4.84		61.02
	Loans in foreign currency		35,617,724		6.02		6.85		34,224,957		6.58		6.80		31,215,114		6.64		6.63
	Guarantee payments		11,154		1.88		0.00		11,571		1.96		0.00		14,567		2.28		0.00
	Credit card receivables		12,214,514		7.96		2.35		12,224,048		7.33		2.43		11,215,186		6.85		2.38
	Foreign bills bought		3,559,496		5.54		0.69		4,570,235		5.58		0.91		4,447,651		5.33		0.95
	Bad debt expense in local currency		3,429,878		—		0.66		3,198,795		—		0.65		2,609,403		—		0.55
	Others		60,947,758		—		11.73		50,036,832		—		9.95		47,063,423		—		9.99
Total Assets			519,662,020		—		100.00		503,080,123		—		100.00		470,874,318		—		100.00
Note 1)	Average Balance : the simple average of the balances at the start of the fiscal year and at the end of each<br>quarter
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Note 2)	Based on K-IFRS consolidated financial statements<br>
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3.	Other Information Necessary for Making Investment Decisions
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a.	Capital Adequacy Ratios
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Group BIS Capital Adequacy Ratios

As of the end of the period indicated	(units: billions of Won, % )
Type	2025 1H		2024		2023
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Equity capital (A)		36,850		36,928		34,756
Risk weighted assets (B)		229,464		235,100		219,792
BIS(Capital adequacy) ratio (A/B)		16.06		15.71		15.81
Note 1)	BIS (Bank for International Settlements) Capital Adequacy Ratios = Equity capital / Risk weighted assets * 100<br>
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Note 2)	2025 1H figures are preliminary and are subject to change
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Note 3)	Based on K-IFRS consolidated financial statements and Basel III<br>standards
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Capital Adequacy Ratios for Significant Subsidiaries and Consolidated Companies

As of the end of the periods indicated	(units: hundreds of millions of Won, % )
Name of Company	Type		2025 1H		2024		2023
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Woori Bank Note2)	BIS capital adequacy ratio<br><br><br>Note1)	Equity capital (A)		315,757		304,302		282,379
		Risk weighted assets (B)		1,860,358		1,920,087		1,760,737
		Capital adequacy ratio (A/B)		16.97		15.85		16.04
Woori Card Note3)	Adjusted capital ratio			18.72		17.70		16.03
	Tangible common equity ratio			12.85		12.37		10.97
Woori Financial Capital Note3)	Adjusted capital ratio			15.28		15.09		14.35
	Tangible common equity ratio			12.43		11.83		11.48
Woori Investment Securities Note4)	Net capital ratio			1,231.78		2,098.64		—
	Debt-to-asset ratio			117.00		119.41		—
Woori Asset Trust Note5)	Operating capital ratio			8,498.36		4,057.29		1,284.26
Woori Asset Management Note3)	Minimum operating capital ratio			693.22		739.31		650.26
Woori Venture Partners Note6)	Tangible common equity ratio			92.46		95.70		90.82
Woori Savings Bank Note7)	BIS capital adequacy ratio<br><br><br>Note1)			17.27		16.37		13.21
Woori Private Equity Asset Management Note3)	Minimum operating capital ratio			8,288.46		8,161.97		8,618.79
Note 1)	BIS (Bank for International Settlements) Capital Adequacy Ratio : Equity capital / Risk weighted assets * 100<br>
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Note 2)	Figures for Woori Bank are based on K-IFRS consolidated financial<br>statements and Basel III standards. 2025 1H figures are estimates only and are subject to change
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Note 3)	Figures for Woori Card, Woori Financial Capital, Woori Asset Management and Woori Private Equity Asset<br>Management are based on the applicable standards for business reports submitted to the Financial Supervisory Service and their respective K-IFRS separate financial statements
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Note 4)	Figures for Woori Investment Securities (established in August 2024) are calculated as follows:<br>
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-	Net capital ratio: (net operating capital – total risk amount)/required maintenance capital x 100<br>
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: based on the applicable standards for business reports submitted to the Financial Supervisory Service

-	Debt-to-asset ratio: (actual<br>assets)/(actual liability) x 100

: based on K-IFRS separate financial statements

Note 5)	Woori Asset Trust’s operating capital ratio = (net operating capital – subordinated debt,<br>etc.)/(total risk amount) x 100

: based on K-IFRS separate financial statements

Note 6)	Figures for Woori Venture Partners are based on K-IFRS consolidated<br>financial statements
Note 7)	Figures for Woori Savings Bank are based on K-GAAP<br>
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b.	Liquidity Ratios

Won Liquidity Ratios

As of the end of the periods indicated	(units: millions of Won, % )
Type	2025 1H						2024						2023
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	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)		1,660,705		165,466		1,003.7		353,835		10,905		3,244.7		111,895		8,155		1,372.1
Woori Card Note 2)		8,433,405		2,281,217		369.7		8,722,587		2,785,182		313.2		9,119,265		2,454,480		371.5
Woori Financial Capital Note 2)		1,681,007		1,326,181		126.8		1,850,758		1,317,695		140.5		1,919,083		1,245,067		154.1
Woori Investment Securities Note 2)		6,010,146		3,456,542		173.9		4,982,461		2,660,153		187.3		4,032,290		1,926,080		209.4
Woori Asset Trust Note 2)		149,910		7,621		1,967.0		258,758		9,311		2,779.2		171,860		18,555		926.2
Woori Savings Bank Note 2), Note 3)		317,703		195,354		162.6		344,437		216,143		159.4		434,495		231,003		188.1
Woori Venture Partners Note 2)		119,745		13,830		865.8		136,198		6,877		1,980.4		103,367		7,210		1,433.6
Woori Private Equity Asset Management Note 2)		24,689		2,024		1,219.6		16,011		2,912		549.8		27,506		2,396		1,147.8
Note 1)	Based on current assets and liabilities within one month of maturity
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Note 2)	Based on current assets and liabilities within 90 days of maturity
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Note 3)	Based on K-GAAP
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Foreign Currency (FC) Liquidity Ratios

As of the end of the periods indicated	(units: millions of Won, % )
Type	2025 1H						2024						2023
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	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 Securities Note 1)		2,449		285		859.71		2,581		2,146		120.24		9,450		7,362		128.36
Note 1)	Based on current assets and liabilities within three months of maturity
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Liquidity Coverage Ratios (LCR)

(units: % )

Name of Company	Type
Woori Bank	Liquidity coverage ratio Note 1)	107.24	104.79	101.26
	Foreign currency liquidity coverage ratio Note 2)	147.48	184.29	162.75
	Ratio of business purpose premises and equipment	9.25	9.95	10.20
Note 1)	LCR: Average of daily ratios during a quarter (same as the calculation method used for business disclosure)<br>
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-	The applicable LCR requirements were 100%, 97.5% and 95% as of June 30, 2025, December 31, 2024 and<br>December 31, 2023, respectively
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Note 2)	Foreign currency LCR: ratio calculated based on averages of the amount of each category (same as the<br>calculation method used for business disclosure)
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-	The applicable foreign currency LCR requirement was 80%.
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Note 3)	The applicable periods for LCR and foreign currency LCR are: 2Q 2025, 4Q 2024, and 4Q 2023<br>
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c.	Profitability Ratios Note1), Note2) ****
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(units: % )

Type	2025 1H				2024				2023
	ROA		ROE		ROA		ROE		ROA		ROE
Woori Financial Group
Including non-controlling interests		0.60		9.38		0.61		9.60		0.54		8.65
Excluding non-controlling interests		0.58		9.13		0.60		9.34		0.52		8.25
Note 1)	Total assets and total equity : simple average of the starting balance for the fiscal year and the ending<br>balance of each quarter
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Note 2)	On an annualized basis, based on the applicable standards for business reports submitted to the Financial<br>Supervisory Service
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d.	Asset Quality

Group Asset Quality

(units: billions of Won, % )

Type	2025 1H
Total loans		383,989	390,066	365,780
Substandard and below loans		2,708	2,211	1,357
Substandard and below loans ratio		0.71	0.57	0.37
Non-Performing Loans (“NPL”)		2,332	1,786	1,299
NPL ratio		0.61	0.46	0.36
Substandard and below coverage ratio (A/B)		127.0	153.0	220.1
Loan loss reserve (A)		3,438	3,382	2,986
Substandard and below loans (B)		2,708	2,211	1,357
Note 1)	Based on the applicable standards for financial holding company business reports submitted to the Financial<br>Supervisory Service
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Note 2)	The figures for 2025 1H are preliminary.
---	---

Asset Quality for Significant Subsidiaries and Consolidated Companies Note1)

(units: % )

Type	2025 1H						2024						2023
	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		0.32		0.27		179.87		0.23		0.19		247.44		0.18		0.17		320.84
Woori Card		1.39		—		104.53		1.07		—		105.46		0.97		—		104.92
Woori Financial Capital		2.39		—		96.59		1.91		—		134.18		2.37		—		113.21
Woori Investment Securities Note 2)		8.28		—		68.76		7.29		—		84.37		0.55		—		578.29
Woori Asset Trust		84.08		—		—		77.68		—		—		32.11		—		—
Woori Savings Bank Note 3)		8.10		—		75.38		9.82		—		77.43		3.53		—		101.66
Note 1)	Based on the applicable standards for business reports submitted to the Financial Supervisory Service<br>
---	---
Note 2)	Numbers for 2023 reflect those of Woori Investment Bank. Woori Investment Securities was established in August<br>2024, following the merger of Korea Foss Securities and Woori Investment Bank.
---	---
Note 3)	Based on K-GAAP
---	---

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	2025 1H		2024		2023
---	---	---	---	---	---	---
ASSETS
Cash and cash equivalents		30,008,499		27,281,123		30,556,618
Financial assets at fair value through profit or loss (“FVTPL”)		20,919,935		25,202,672		21,544,756
Financial assets at fair value through other comprehensive income		39,407,940		43,797,745		37,891,495
Securities at amortized cost		18,762,707		19,203,177		23,996,172
Loans and other financial assets at amortized cost		413,452,761		398,471,816		373,148,148
Investments in joint ventures and associates		1,776,364		1,748,810		1,795,370
Investment properties		425,820		450,788		472,768
Premises and equipment		3,294,863		3,370,585		3,176,759
Intangible assets and goodwill		1,066,480		1,091,402		996,842
Assets held for sale		188,764		73,989		20,345
Net defined benefit asset		2,626		146,109		240,260
Current tax assets		43,745		61,613		203,542
Deferred tax assets		53,720		72,937		93,366
Derivative assets (designated for hedging)		121,375		175,191		26,708
Other assets		4,587,177		4,605,363		3,841,787
Total assets	****	534,112,776	****	525,753,320	****	498,004,936
LIABILITIES
Financial liabilities at FVTPL		5,088,263		9,896,597		6,138,313
Deposits due to customers		369,477,799		366,821,156		357,784,297
Borrowings		31,418,274		30,117,031		30,986,746
Debentures		49,166,841		48,207,103		41,239,245
Provisions		620,545		611,428		806,031
Net defined benefit liability		25,284		5,424		6,939
Current tax liabilities		604,383		127,126		103,655
Deferred tax liabilities		550,179		858,822		470,311
Derivative liabilities (designated for hedging)		75,869		102,815		153,007
Other financial liabilities		40,613,948		32,314,051		26,115,005
Other liabilities		755,873		796,498		803,897
Total liabilities	****	498,397,258	****	489,858,051	****	464,607,446
EQUITY
Owners’ equity:		34,175,486		34,096,836		31,666,881

Classification	2025 1H			2024			2023
Capital stock		3,802,676			3,802,676			3,802,676
Hybrid securities		3,510,947			3,810,435			3,611,129
Capital surplus		934,351			934,100			935,563
Other equity		(1,806,515	)		(1,400,885	)		(1,668,957	)
Retained earnings		27,734,027			26,950,510			24,986,470
Non-controlling interests		1,540,032			1,798,433			1,730,609
Total equity	****	35,715,518	****	****	35,895,269	****	****	33,397,490	****
Total liabilities and equity	****	534,112,776	****	****	525,753,320	****	****	498,004,936	****
Number of consolidated subsidiaries<br><br><br>(excluding holding company)		183			188			179

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	2025 1H			2024 1H			2024			2023
---	---	---	---	---	---	---	---	---	---	---	---	---
Operating income	****	1,977,714	****	****	2,404,009	****	****	4,255,190	****	****	3,499,029	****
Net interest income		4,513,808			4,395,099			8,886,336			8,742,540
Net fees and commissions income		1,033,752			1,058,166			2,086,170			1,720,481
Dividend income		142,433			152,738			310,320			240,293
Net gain or loss on financial instruments at FVTPL		(122,936	)		902,118			1,492,783			488,486
Net gain or loss on financial assets at FVTOCI		80,823			38,515			96,620			(37,641	)
Net gain or loss arising on financial assets at amortized cost		53,151			165,645			286,885			203,942
Impairment losses due to credit loss		(943,310	)		(775,492	)		(1,716,295	)		(1,894,916	)
General and administrative expenses		(2,479,086	)		(2,100,987	)		(4,468,973	)		(4,443,433	)
Other net operating expenses		(300,921	)		(1,431,793	)		(2,718,656	)		(1,520,723	)
Non-operating income (expense)	****	73,366	****	****	(13,150	)	****	(32,343	)	****	18,424	****
Net income before income tax expense	****	2,051,080	****	****	2,390,859	****	****	4,222,847	****	****	3,517,453	****
Income tax expense	****	(456,781	)	****	(590,439	)	****	(1,051,378	)	****	(890,559	)
Net income	****	1,594,299	****	****	1,800,420	****	****	3,171,469	****	****	2,626,894	****
Net income attributable to owners		1,552,019			1,755,496			3,085,995			2,506,296
Net income attributable to the non-controlling<br>interests		42,280			44,924			85,474			120,598
Other comprehensive income (loss), net of tax	****	(319,744	)	****	66,598	****	****	382,719	****	****	663,537	****
Items that will not be reclassified to profit or loss		(69,441	)		(136,151	)		(200,341	)		122,334

Classification	2025 1H			2024 1H		2024		2023
Items that may be reclassified to profit or loss		(250,303	)		202,749		583,060		541,203
Total comprehensive income	****	1,274,555	****	****	1,867,018	****	3,554,188	****	3,290,431
Comprehensive income attributable to the owners		1,244,502			1,819,493		3,454,620		3,164,464
Comprehensive income attributable to non-controlling<br>interests		30,053			47,525		99,568		125,967
Net income per share:
Basic and diluted income per share (in Korean Won)		2,006			2,262		3,950		3,230
2.	Condensed Financial Statements (Separate)
---	---

Summary Statement of Financial Position

(The Company, as of the end of the periods indicated)	(unit: millions of Won)
Classification	2025 1H		2024		2023
---	---	---	---	---	---	---
ASSETS
Cash and cash equivalents		1,689,577		1,185,912		289,507
Financial assets at fair value through other<br><br><br>comprehensive income		563,013		553,518		539,709
Loans and other financial assets at amortized cost		903,217		204,431		1,104,815
Investments in subsidiaries		24,206,017		24,206,017		23,670,476
Premises and equipment		3,898		5,304		6,609
Intangible assets		3,317		3,308		4,052
Net defined benefit asset		—		1,378		3,941
Current tax assets		28,833		33,120		158,951
Deferred tax assets		2,055		4,379		7,478
Other assets		155,622		155,670		484
Total assets	****	27,555,549	****	26,353,037	****	25,786,022
LIABILITIES
Debentures		2,537,302		2,037,567		1,587,659
Provisions		1,869		1,252		1,227
Net defined benefit liability		967		—		—
Current tax liabilities		568,838		84,701		32,125
Other financial liabilities		83,188		76,382		163,621
Other liabilities		356		404		392
Total liabilities	****	3,192,520	****	2,200,306	****	1,785,024

Classification	2025 1H			2024			2023
EQUITY
Capital stock		3,802,676			3,802,676			3,802,676
Hybrid securities		3,510,737			3,810,225			3,610,953
Capital surplus		8,120,236			11,120,236			11,120,236
Other equity		(144,569	)		(1,189	)		(7,871	)
Retained Earnings		9,073,949			5,420,783			5,475,004
Total equity	****	24,363,029	****	****	24,152,731	****	****	24,000,998	****
Total liabilities and equity	****	27,555,549	****	****	26,353,037	****	****	25,786,022	****

Summary Statement of Comprehensive Income

(The Company, for the periods indicated)	(unit: millions of Won, except per share amounts)
Classification	2025 1H			2024 1H			2024			2023
---	---	---	---	---	---	---	---	---	---	---	---	---
Operating income:	****	1,368,995	****	****	1,158,218	****	****	1,123,301	****	****	1,424,670	****
Net interest income (expense)		(13,394	)		6,181			2,128			27,495
Interest income		21,628			28,748			51,778			64,592
Interest expense		(35,022	)		(22,567	)		(49,650	)		(37,097	)
Net fees and commissions loss		(12,766	)		(8,848	)		(20,319	)		(20,097	)
Fees and commissions income		876			813			1,625			1,625
Fees and commissions expense		(13,642	)		(9,661	)		(21,944	)		(21,722	)
Dividend income		1,435,418			1,195,721			1,208,522			1,482,956
Net gain or loss on financial instruments at FVTPL		—			—			—			2,023
Reversal of (Provisions for) impairment losses due to credit loss		(115	)		(442	)		608			(348	)
General and administrative expenses		(40,148	)		(34,394	)		(67,638	)		(67,359	)
Non-operating income (expense)	****	13	****	****	(63	)	****	(147	)	****	(1,043	)
Net income before income tax expense	****	1,369,008	****	****	1,158,155	****	****	1,123,154	****	****	1,423,627	****
Income tax benefit (expense)	****	(212	)	****	(658	)	****	178	****	****	881	****
Net income	****	1,368,796	****	****	1,157,497	****	****	1,123,332	****	****	1,424,508	****
Other comprehensive income, net of tax	****	5,887	****	****	3,025	****	****	9,138	****	****	18,916	****
Items that will not be reclassified to profit or loss		5,887			3,025			9,138			18,916
Net gain on valuation of equity securities at FVTOCI		6,988			4,008			10,164			19,789
Remeasurement of the net defined benefit liability		(1,101	)		(983	)		(1,026	)		(873	)
Total comprehensive income	****	1,374,683	****	****	1,160,522	****	****	1,132,470	****	****	1,443,424	****
Net income per share:
Basic and diluted income per share (in Korean Won)		1,749			1,450			1,296			1,754

3.	Dividend Information
Items		2025 1H		2024		2023
---	---	---	---	---	---	---	---
Par value per share (Won)			5,000		5,000		5,000
Net profit (Millions of Won)			1,552,019		3,085,995		2,506,296
Earnings per share (Won)			2,006		3,950		3,230
Total cash dividends (Millions of Won)			294,232		891,045		747,302
Total stock dividends (Millions of Won)			—		—		—
Cash dividend payout ratio (%)			18.96		28.87		29.82
Cash dividend yield (%)	Common Shares		1.6		6.9		6.7
	Preferred Shares		—		—		—
Stock dividend yield (%)	Common Shares		—		—		—
	Preferred Shares		—		—		—
Cash dividend per share (Won)	Common Shares		400		1,200		1,000
	Preferred Shares		—		—		—
Stock dividend per share (Share)	Common Shares		—		—		—
	Preferred Shares		—		—		—
Note 1)	The dividends for the first half of 2025 include quarterly dividends of KRW 147,428 million (KRW 200 per<br>share) for the first quarter and KRW 146,804 million (KRW 200 per share) for the second quarter. The dividends for the second quarter of 2025 were determined through a board resolution on July 25, 2025.
---	---
Note 2)	The dividends for FY2024 include quarterly dividends of KRW 133,657 million (KRW 180 per share) for the<br>first quarter, KRW 133,657 million (KRW 180 per share) for the second quarter, and KRW 133,657 million (KRW 180 per share) for the third quarter
---	---
Note 3)	The dividends for FY2023 include interim dividends of KRW 130,748 million (KRW 180 per share) for the<br>second quarter, and KRW 135,341 million (KRW 180 per share) for the third quarter
---	---
Note 4)	The cash dividend yield for the first half of 2025 is calculated as the percentage of cash dividend per share<br>to the arithmetic average of the final prices formed in the stock market during the week up to the trading day before the date the dividend amount is determined. The percentage is rounded to the first decimal place.
---	---
Note 5)	The cash dividend yields for FY2023 and FY2024 are calculated as the percentage of cash dividend per share to<br>the arithmetic average of the final prices formed in the stock market during the week up to the date that is two trading days before the record date. The percentage is rounded to the first decimal place.
---	---

IV.	Independent Auditor’s Opinion
1.	Independent Auditor’s Opinion
---	---
	2025 1H	2024	2023
---	---	---	---
Auditor	KPMG Samjong Accounting Corp.	KPMG Samjong Accounting Corp.	KPMG Samjong Accounting Corp.
Auditor’s Opinion	Note 1)	Note 2)	Note 3)
Note 1)	In its review report attached to this report, KPMG Samjong Accounting Corp. has stated that nothing had come to<br>their attention that caused them to believe that the accompanying consolidated and separate interim financial statements of Woori Financial Group are not presented fairly in all material respects, in accordance with Korean IFRS.<br>
---	---
Note 2)	In its audit report, KPMG Samjong Accounting Corp. has stated that the financial statements are presented<br>fairly, in all material respects, in accordance with Korean IFRS.
---	---
Note 3)	In its audit report, KPMG Samjong Accounting Corp. has stated that the financial statements are presented<br>fairly, in all material respects, in accordance with Korean IFRS.
---	---
2.	Compensation to the Independent Auditor
---	---
a.	Audit Services
---	---
Term	Auditor	Description	Contractual				Actual
---	---	---	---	---	---	---	---	---	---	---
			Fee		Time		Fee		Time
2025 1H	KPMG Samjong Accounting Corp.	1Q/1H/3Q Review Closing audit (including internal accounting management system)		KRW 1,065 million		10,009 hours		KRW 360 million		3,904 hours
2024	KPMG Samjong Accounting Corp.	1Q/1H/3Q Review Closing audit (including internal accounting management system)		KRW 1,037 million		9,930 hours		KRW 1,037 million		9,937 hours
2023	KPMG Samjong Accounting Corp.	1Q/1H/3Q Review Closing audit (including internal accounting management system)		KRW 964 million		9,380 hours		KRW 964 million		9,613 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

c.	Current Status of Audit Service Agreements with the Independent Auditor Relating to U.S. Listing
Term	Auditor	Description	Fee
---	---	---	---
2025 1H	KPMG Samjong Accounting Corp.	U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2025)	KRW 2,028 million
2024	KPMG Samjong Accounting Corp.	U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2024)	KRW 2,015 million
2023	KPMG Samjong Accounting Corp.	U.S. PCAOB standard audit of consolidated financial statements and internal control over financial reporting (for FY2023)	KRW 1,891 million
Note 1)	Fee excludes VAT
---	---
d.	Non-Audit Services
---	---
Term	Date ofExecution ofAgreement	Description of Service	Service Term	Fees
---	---	---	---	---
2025 1H	April 9, 2025	Tax adjustment (including review relating to application of consolidated tax)	April 9, 2025 ~ June 1, 2026	KRW 76 million
2024	March 31, 2024	Tax adjustment (including review relating to application of consolidated tax)	April 1, 2024 ~ June 2, 2025	KRW 68 million
2023	March 31, 2023	Tax adjustment (including review relating to application of consolidated tax)	April 1, 2023 ~ May 31, 2024	KRW 64 million
Note 1)	Fee excludes VAT
---	---

V.	Corporate Governance
1.	About the Board of Directors
---	---
a.	Composition of the Board of Directors
---	---

As of June 30, 2025, our board of directors consisted of eight directors in total, including seven independent directors and one standing director.

On March 26, 2025, at the annual general meeting of shareholders, five independent directors were appointed.

New independent directors (4): Choon-Soo Kim, Young-Hoon Kim, Kang-Haeng Lee, Yeong-Seop Rhee / Reappointed independent director (1): In-Sub Yoon

On March 26, 2025, four (4) independent directors completed their terms: Chan-Hyoung Chung, Su-Young Yun, Yo-Hwan Shin, Sung-Bae Ji

The board of directors operates a total of seven standing committees: Audit Committee, Risk Management Committee, Compensation Committee, Officer Candidate Recommendation Committee, Ethics and Internal Control Committee, Subsidiary Representative Director Candidate Recommendation Committee, ESG Management Committee.

At the 4th Board Meeting held on March 26, 2025, the independent director In-Sub Yoon was appointed as the Chairman of the Board. Having served for more than three years since our establishment, he possesses a deep understanding of our organizational culture and management issues. Throughout his tenure as Chairman of the Risk Management Committee (March 25, 2022 – March 26, 2025), he has faithfully carried out his oversight duties over sound management.

As a former CEO with hands-on experience in the financial industry, he is expected to contribute significantly to our development by offering practical and well-balanced insights. In recognition of his expertise and leadership, he was reappointed as Chairman of the Board of Woori Financial Group with the unanimous consent of all board members. The Chairman of the Board does not concurrently hold the position of CEO.

b.	Committees under the Board of Directors

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

(a)	Audit Committee
(b)	Risk Management Committee
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(c)	Compensation Committee
---	---
(d)	Officer Candidate Recommendation Committee
---	---
(e)	Ethics and Internal Control Committee
---	---
(f)	Subsidiary Representative Director Candidate Recommendation Committee
---	---
(g)	ESG Management Committee
---	---

(As of June 30, 2025)

Name of Committee	Composition	Names of Members
Audit Committee	Four independent directors	(Chair) Yeong-Seop Rhee (independent director)<br><br><br><br> <br>Choon-Soo Kim<br>(independent director)<br> <br><br> <br>Young-Hoon Kim (independent<br>director)<br> <br><br> <br>Kang-Haeng Lee (independent<br>director)
Risk Management Committee	Four independent directors	(Chair) Sun-Young Park (independent director)<br><br><br><br> <br>In-Sub Yoon<br>(independent director)<br> <br><br> <br>Yeong-Seop Rhee (independent<br>director)<br> <br><br> <br>Eun-Ju<br>Lee (independent director)
Compensation Committee	Four independent directors	(Chair) Young-Hoon Kim (independent director)<br><br><br><br> <br>In-Sub Yoon<br>(independent director)<br> <br><br><br><br>Choon-Soo Kim (independent director)<br><br><br><br> <br>Kang-Haeng Lee (independent director)
Officer Candidate Recommendation Committee	Seven independent directors	(Chair) Kang-Haeng Lee (independent director)<br><br><br><br> <br>In-Sub Yoon<br>(independent director)<br> <br><br><br><br>Choon-Soo Kim (independent director)<br><br><br><br> <br>Young-Hoon Kim (independent director)<br><br><br><br> <br>Yeong-Seop Rhee (independent director)<br><br><br><br> <br>Eun-Ju Lee<br>(independent director)<br> <br><br> <br>Sun-Young Park (independent<br>director)
Ethics and Internal Control Committee	Five independent directors	(Chair) Choon-Soo Kim (independent director)<br><br><br><br> <br>In-Sub Yoon<br>(independent director)<br> <br><br> <br>Young-Hoon Kim (independent<br>director)<br> <br><br> <br>Kang-Haeng Lee (independent director)<br><br><br><br> <br>Yeong-Seop Rhee (independent director)
Subsidiary Representative Director Candidate Recommendation Committee	Seven independent directors<br><br><br>One standing director	(Chair) Jong-Yong Yim (standing director)<br><br><br><br> <br>In-Sub Yoon<br>(independent director)<br> <br><br><br><br>Choon-Soo Kim (independent director)<br><br><br><br> <br>Young-Hoon Kim (independent director)<br><br><br><br> <br>Kang-Haeng Lee (independent director)<br><br><br><br> <br>Yeong-Seop Rhee (independent director)<br><br><br><br> <br>Eun-Ju Lee<br>(independent director)<br> <br><br> <br>Sun-Young Park (independent<br>director)

Name of Committee	Composition	Names of Members
ESG Management Committee	Seven independent directors<br><br><br>One standing director	(Chair) Eun-Ju Lee (independent director)<br><br><br><br> <br>In-Sub Yoon<br>(independent director)<br> <br><br><br><br>Choon-Soo Kim (independent director)<br><br><br><br> <br>Young-Hoon Kim (independent director)<br><br><br><br> <br>Kang-Haeng Lee (independent director)<br><br><br><br> <br>Yeong-Seop Rhee (independent director)<br><br><br><br> <br>Sun-Young Park (independent director)<br><br><br><br> <br>Jong-Yong Yim (standing director)
2.	Shareholder’s Meeting
---	---
a.	Voting Rights
---	---
(unit: shares, as of June 30, 2025)
---
Items		Number of shares		Notes
---	---	---	---	---	---	---
Number of issued shares	Common Shares		742,591,501		—
	Preferred Shares		—		—
Number of shares without voting rights	Common Shares		11,591,359		Note<br>1	)
	Preferred Shares		—		—
Number of shares for which voting rights are excluded<br>pursuant to the articles of incorporation	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights<br><br><br>are limited by law	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights<br><br><br>have been restored	Common Shares		—		—
	Preferred Shares		—		—
Number of shares for which voting rights<br><br><br>may be exercised	Common Shares		731,000,142		—
	Preferred Shares		—		—
Note 1)	Treasury shares acquired from the issuance of fractional shares and a buyback program via a trust agreement<br>(Feb. 7,2025) and shares in mutual ownership (pursuant to Article 369 of the Commercial Code)
---	---

b.	Summary of the Shareholder’s Meeting Minutes
	Agenda	Result
---	---	---
Annual General Meeting of Shareholders for FY2022<br><br><br>(March 24, 2023)	1. Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial<br>statements for the fiscal year 2022 (Jan. 1, 2022 – Dec. 31, 2022)	Approved as submitted
	2. Approval of amendments to the Articles of Incorporation	Approved as submitted
	3. Election of directors (2 independent directors, 1 standing director)<br><br><br><br> <br>- 3-1 Candidate for<br>independent director : Chan-Hyoung Chung<br> <br><br> <br>- 3-2 Candidate for independent director : Su-Young Yun<br> <br><br><br><br>- 3-3 Candidate for standing director : Jong-Yong Yim	Approved as submitted
	4. Election of independent director who will serve as an Audit Committee Member<br><br><br><br> <br>- Candidate for independent director who will serve as an Audit<br>Committee Member : Sung-Bae Ji	Approved as submitted
	5. Election of Audit Committee Members who are independent directors<br><br><br><br> <br>- 5-1 Candidate for Audit<br>Committee Member who is an Independent director : Chan-Hyoung Chung<br> <br><br><br><br>- 5-2 Candidate for Audit Committee Member who is an Independent director : Su-Young Yun<br><br><br><br> <br>- 5-3 Candidate for Audit<br>Committee Member who is an Independent director : Yo-Hwan Shin	Approved as submitted
	6. Approval of maximum limit on directors’ compensation	Approved as submitted
Annual General Meeting of Shareholders for FY2023<br><br><br>(March 22, 2024)	1. Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial<br>statements for the fiscal year 2023 (Jan. 1, 2023 – Dec. 31, 2023)	Approved as submitted
	2. Election of directors (5 independent directors)<br> <br><br><br><br>- 2-1 Candidate for independent director : Chan-Hyoung Chung<br><br><br><br> <br>- 2-2 Candidate for<br>independent director : In-Sub Yoon<br> <br><br><br><br>- 2-3 Candidate for independent director : Yo-Hwan Shin<br><br><br><br> <br>- 2-4 Candidate for<br>independent director : Eun-Ju Lee<br> <br><br><br><br>- 2-5 Candidate for independent director : Sunyoung Park	Approved as submitted
	3. Election of Audit Committee members who are independent directors (2 independent directors)<br><br><br><br> <br>- 3-1 Candidate for Audit<br>Committee member who is an independent director : Chan-Hyoung Chung<br> <br><br><br><br>- 3-2 Candidate for Audit Committee member who is an independent director : Yo-Hwan Shin	Approved as submitted
	4. Approval of the maximum limit on directors’ compensation	Approved as submitted

Annual General Meeting of Shareholders for FY2024<br><br><br>(March 26, 2025)	1. Approval of separate financial statements (including statements of appropriations of retained earnings) and consolidated financial<br>statements for fiscal year 2024 (Jan. 1, 2024 – Dec. 31, 2025)	Approved as submitted
	2. Approval of amendments to the Articles of Incorporation	Approved as submitted
	3. Approval of reductions to the capital reserve	Approved as submitted
	4. Election of directors (4 independent directors)<br> <br><br><br><br>- 4-1 Candidate for independent director : Choon-Soo<br>Kim<br> <br><br> <br>- 4-2 Candidate for<br>independent director : Young-Hoon Kim<br> <br><br> <br>- 4-3 Candidate for independent director : Kang-Haeng Lee<br> <br><br><br><br>- 4-4 Candidate for independent director : In-Sub Yoon	Approved as submitted
	5. Election of independent director who will serve as an audit committee member<br><br><br><br> <br>- Candidate for independent director who will serve as an audit<br>committee member : Yeong-Seop Rhee	Approved as submitted
	6. Election of audit committee members who are independent directors (3 independent directors)<br><br><br><br> <br>- 6-1 Candidate for audit<br>committee member who is an independent director : Choon-Soo Kim<br> <br><br><br><br>- 6-2 Candidate for audit committee member who is an independent director : Young-Hoon Kim<br><br><br><br> <br>- 6-3 Candidate for audit<br>committee member who is an independent director : Kang-Haeng Lee	Approved as submitted
	7. Approval of the maximum limit on directors’ compensation	Approved as submitted
VI.	Shareholder Information
---	---
1.	Share Distribution
---	---
a.	Share Information of the Largest Shareholder and Specially Related Parties
---	---
As of June 30, 2025	(units: shares, %)
---	---
Name	Relation	Type			Shares Held								Notes
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
				Beginning balance					Ending balance
				Number			Share		Number		Share
Employee Stock Ownership Association of Woori Financial<br>Group	The largest shareholder		Common			44,474,301		5.99		43,161,084		5.81		—
Employee Stock Ownership Association of Woori Bank	Specially related party of the largest shareholder		Common			19,106,955		2.57		16,269,022		2.19		—
Total			Common			63,581,256		8.56		59,430,106		8.00		—
			Others			—		—		—		—		—

b.	Changes in the largest shareholder
As of June 30, 2025	(units: shares, %)
---	---
Change of Date	Largest Shareholder	NumberHeld	Share	Notes
---	---	---	---	---
December 9, 2021	Employee Stock Ownership Association of Woori Financial Group and 1 other	71,346,178	9.80	Bought 1.00% of the KDIC’s remaining shares of Woori Financial Group (8.80% share already held) Note 1)
Note 1)	Refer to the prior disclosure on the Form 6-K on December 10,<br>2021, Changes in the Largest Shareholder
---	---
c.	Share Ownership of More Than 5%
---	---
As of June 30, 2025	(units: shares, %)
---	---
	Name	Shares				Notes
---	---	---	---	---	---	---	---
		No. of shares		Percentage ofshareholding
Share ownership of more than 5%	National Pension Service		48,740,895		6.56		—
	Blackrock Fund Advisors		45,100,755		6.07		Note 1)
Employee Stock Ownership Association			59,430,106		8.00		The largest shareholder<br>Note 2)
Note 1)	Based on the report on the status of large-scale stock holdings dated June 10, 2024
---	---
Note 2)	Total shares of the employee stock ownership association of Woori Financial Group and Woori Bank<br>
---	---

2.	Stock Price and Stock Market Performance
a.	Domestic Stock Market
---	---

(units: Won, shares)

Period
Common Shares	High	16,100	17,420	16,930	17,710	19,270	22,550
	Low	15,260	15,390	15,970	15,370	17,620	18,890
	Average	15,549	16,679	16,420	16,579	18,103	21,068
Monthly Trade Volume	High	2,647,462	6,554,417	2,703,757	2,783,375	6,892,555	6,099,578
	Low	894,957	1,210,976	797,302	924,766	766,082	1,930,722
	Monthly Total	27,587,321	48,069,347	32,659,261	38,691,297	35,843,364	62,087,483
Note 1)	Source: KRX KOSPI Market
---	---
Note 2)	Share prices are based on closing prices.
---	---
b.	Foreign Stock Market (NYSE)
---	---

(units: US Dollars, Won, ADSs)

Period
ADS	High	33.00	35.80	34.44	37.07	42.16	49.73
	Low	31.09	31.95	32.44	30.46	36.91	41.25
	Average	32.19	34.42	33.60	34.36	38.91	45.68
Won Conversion	High	47,332	51,692	50,520	53,325	57,953	67,454
	Low	45,702	46,423	46,918	44,651	53,095	56,748
	Average	46,863	49,754	48,954	49,626	54,264	62,443
Monthly Trade Volume	High	113,902	96,257	110,931	162,916	143,078	207,857
	Low	29,651	16,407	17,753	43,656	22,784	22,622
	Monthly Total	1,244,324	1,129,672	1,162,245	1,744,900	1,052,855	1,245,715
Note 1)	Source of Exchange Rate : Seoul Money Brokerage(www.smbs.biz), Won Conversion is based on standard trading rate<br>(daily and monthly average)
---	---
Note 2)	One ADS represents three common shares.
---	---
Note 3)	Share prices are based on closing prices.
---	---

VII.	Directors and Employee Information
1.	Directors and Executives
---	---

As of June 30, 2025

Position		Name		Term<br>Commencement Date	Expiration of Term
Chief Executive Officer	Registered	Jong-Yong Yim	10,000	March 24, 2023	Note 1)
Independent Director	Registered	In-Sub Yoon	—	January 27, 2022	Note 1)
Independent Director	Registered	Choon-Soo Kim	2,800	March 26, 2025	Note 2)
Independent Director	Registered	Young-Hoon Kim	—	March 26, 2025	Note 2)
Independent Director	Registered	Kang-Haeng Lee	7,000	March 26, 2025	Note 2)
Independent Director	Registered	Yeong-Seop Rhee	—	March 26, 2025	Note 2)
Independent Director	Registered	Eun-Ju Lee	—	March 28, 2024	Note 1)
Independent Director	Registered	Sun-Young Park	—	March 26, 2024	Note 1)
Deputy President	Non-Registered	Sung-Wook Lee	16,000	February 25, 2022	December 31, 2025
Deputy President	Non-Registered	Il-Jin Ouk	4,000	December 8, 2023	November 30, 2025
Deputy President	Non-Registered	Jang-Keun Park	2,850	December 8, 2023	March 6, 2027
Deputy President	Non-Registered	Jeong-Soo Lee	6,890	December 8, 2023	December 31, 2025
Deputy President	Non-Registered	Chan-Ho Jeong	7,492	December 8, 2023	November 30, 2025
Deputy President	Non-Registered	Kyu-Hwang Jeong	11,741	December 8, 2023	July 4, 2026
Deputy President	Non-Registered	Hyeon-Gi Jeon	4,789	December 16, 2024	December 31, 2026
Managing Director	Non-Registered	Jung-Sup Lee	—	December 16, 2024	December 31, 2026
Managing Director	Non-Registered	Je-Seong Park	5,250	December 16, 2024	December 31, 2026
Note 1)	The terms of standing director Jong-Yong Yim and independent directors<br>In-Sub Yoon, Eun-Ju Lee, and Sun-Young Park : Until the end of the annual general meeting of shareholders for FY2025.
---	---
Note 2)	The terms of independent directors Choon-Soo Kim, Young-Hoon Kim,<br>Kang-Haeng Lee, and Yeong-Seop Rhee: Until the end of the annual general meeting of shareholders for FY2026.
---	---
Note 3)	Term commencement date: date of inauguration for registered officers or directors / date of appointment for non-registered officers or directors
---	---
Note 4)	Excludes shares held through the Employee Stock Ownership Association, in accordance with the legal<br>interpretation by the Financial Services Commission (FSC).
---	---

2.	Employee Status
As of June 30, 2025	(units: persons, millions of Won)
---	---
	Number of Employees											Average<br>Tenure			TotalCompensation		AverageCompensation<br>Per Person		Note
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Regular				Contract					Total
	Total		(Short time<br>worker)		Total		(Short time<br>worker)
Total		68		—		37		(1	)		105		3 years 4 months<br> <br>(14 years 3 months	)		10,996		105		—
Note 1)	Average tenure: term in ( ) includes tenure at affiliated companies
---	---
Note 2)	Contract employees include non-registered executives<br>
---	---
3.	Directors’ Compensation
---	---

(units: persons, millions of Won)

Items	Number ofPersons
Registered Directors<br><br><br>(excludes independent directors and audit committee members)		1	761	761	—
Independent Directors<br><br><br>(excludes audit committee members)		3	127	42	—
Audit Committee Members		4	154	38	—
Auditor		—	—	—	—
Note 1)	Number of Persons is as of June 30, 2025
---	---
Note 2)	Total Compensation is the amount paid from January to June 2025
---	---
Note 3)	Average compensation per director was calculated by dividing the total compensation by the average number of<br>persons
---	---
Note 4)	Registered directors and audit committee members include uncompensated directors
---	---
Note 5)	Only the compensation amount paid by Woori Financial Group is included for the executives concurrently employed<br>by Woori Bank
---	---
4.	Stock-based Compensation
---	---

The Company operates a performance-based stock-linked compensation system, pursuant to the standards established by the shareholders at the shareholders’ meeting and the Compensation Committee. The Company initially determines, for each recipient, the maximum share amounts that can be granted under the system, and then determines the final share amounts based on an evaluation of the long-term performance indices over four years (including the current year). The compensation is then paid in cash, based on the final share amount and the share price at the time the compensation is paid. The long-term performance indices include relative shareholder return, common equity ratio, return on equity, profit for the period, cost-to-income ratio, non-performing loan ratio and individual performance evaluations. For further information, please refer to the notes to the financial statements.

(Unit: shares, except number of recipients)

Items	2025 1H			2024
Number of Recipients		9			13		21
Maximum Amount of Shares		85,734			194,569		160,929
Shares Paid during the Period		161,799			164,164		68,746
(Adjustments)		(21,970	)		(19,554	)	(8,982	)
Cumulative Shares Paid		394,709			232,910		68,746
Unpaid Shares		725,989			824,024		813,173
Note)	Number of Recipients: Includes employees who had retired or resigned by the end of the grant year. The total<br>number also accounts for all personnel involved before and after changes such as internal transfers during the grant year
---	---
VIII.	Internal Controls
---	---
1.	Management’s Assessment of the Effectiveness of the Internal Accounting Management System
---	---
Term	Date of Report	Assessment	MaterialDeficiencies	CorrectiveActionPlans
---	---	---	---	---
2025 1H	—	—	—	—
2024	To Board: February 28, 2025<br> <br><br><br><br>To Shareholder Meeting: March 26, 2025	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—
2023	To Board: February 29, 2024<br> <br><br><br><br>To Shareholder Meeting: March 22, 2024	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—
Note)	The evaluation results are as of the end of each fiscal year, pursuant to Article 8, Paragraph 4 of the Act on<br>External Audit of Stock Companies.
---	---
2.	Audit Committee’s Assessment of the Effectiveness of the Internal Accounting Management System
---	---
Term	Date of Report	Assessment	MaterialDeficiencies	CorrectiveActionPlans
---	---	---	---	---
2025 1H	—	—	—	—
2024	February 28, 2025	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—
2023	February 29, 2024	In terms of overall materiality, the internal accounting management system is under effective design and operation.	—	—
Note)	The evaluation results are as of the end of each fiscal year, pursuant to Article 8, Paragraph 5 of the Act on<br>External Audit of Stock Companies.
---	---

3.	External Auditor’s Audit Opinion (Review Report) on the Effectiveness of the Internal AccountingManagement System
Term	Auditor	Audit or Review	Opinion Type	Issues		Company’sResponseActions
---	---	---	---	---	---	---	---
2025 1H	—	—	—		—		—
2024	KPMG Samjong Accounting Corp.	Audit	Unqualified		—		—
2023	KPMG Samjong Accounting Corp.	Audit	Unqualified		—		—
Note)	An overall opinion on the audit results as of the end of each fiscal year is included in the audit report,<br>pursuant to Article 8, Paragraphs 6 and 7 of the Act on External Audit of Stock Companies.
---	---

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.

	Woori Financial Group Inc.
	(Registrant)
Date: August 14, 2025	By:	/s/ Sung-Wook Lee
	(Signature)
	Name:	Sung-Wook Lee
	Title:	Deputy President

EX-99.1

Exhibit 99.1

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF AND FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

WOORI FINANCIAL GROUP INC.

	Page(s)
Independent Auditors’ Review Report		1-2
Consolidated Interim Financial Statements
Consolidated Interim Statements of Financial Position		4
Consolidated Interim Statements of Comprehensive Income		5-6
Consolidated Interim Statements of Changes in Equity		7
Consolidated Interim Statements of Cash Flows		8-9
Notes to the Consolidated Interim Financial Statements		10-122

Independent Auditors’ Review Report

Based on a report originally issued in Korean

To the Board of Directors and Shareholders of Woori Financial Group Inc.

Reviewed Financial Statements

We have reviewed the accompanying condensed consolidated interim financial statements of Woori Financial Group Inc. and its subsidiaries (collectively the “Group”), which comprise the condensed consolidated interim statement of financial position as of June 30, 2025, the condensed consolidated interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2025, and 2024, the condensed consolidated interim statements of changes in equity and cash flows for the six-month periods ended June 30, 2025, and 2024 and notes, comprising of material accounting policy information and other explanatory information.

Management’s Responsibility

Management is responsible for the preparation and fair presentation of these condensed consolidated interim financial statements in accordance with Korean International Financial Reporting Standards (“K-IFRS”) No.1034 Interim FinancialReporting, and for such internal control as management determines is necessary to enable the preparation of the condensed consolidated interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Review Responsibility

Our responsibility is to issue a report on these condensed consolidated interim financial statements based on our reviews.

We conducted our reviews in accordance with the Review Standards for Quarterly and Semiannual Financial Statements established by the Securities and Futures Commission of the Republic of Korea. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Korean Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim financial statements referred to above do not present fairly, in all material respects, in accordance with K-IFRS No.1034 Interim Financial Reporting.

Other Matters

The consolidated statement of financial position of the Group as of December 31, 2024, and the related consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, which are not accompanying this report, were audited by us in accordance with Korean Standards on Auditing and our report thereon, dated March 5, 2025, expressed an unqualified opinion. The accompanying consolidated statement of financial position of the Group as of December 31, 2024, presented for comparative purposes, is not different from that audited by us from which it was derived in all material respects.

The procedures and practices utilized in the Republic of Korea to review such condensed consolidated interim financial statements may differ from those generally accepted and applied in other countries.

/s/ KPMG Samjong Accounting Corp.

Seoul, Korea

August 14, 2025

This report is effective as of August 14, 2025, the review report date. Certain subsequent events or circumstances, which may occur between the review report date and the time of reading this report, could have a material impact on the accompanying condensed consolidated interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that the above review report has not been updated to reflect the impact of such subsequent events or circumstances, if any.

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF AND FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

The accompanying consolidated interim financial statements including

all footnote disclosures were prepared by, and are the responsibility of, the management of Woori Financial Group Inc.

Jong Yong Yim

Presidentand Chief Executive Officer

Main Office Address: (Address) 51, Sogong-ro, Jung-gu, Seoul

(Phone Number) 02-2125-2000

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION

AS OF JUNE 30, 2025 (UNAUDITED) AND DECEMBER 31, 2024

	June 30,<br>2025
	(Korean Won in millions)
ASSETS
Cash and cash equivalents (Notes 4 and 6)		30,008,499		27,281,123
Financial assets at fair value through profit or loss (“FVTPL”) (Notes 4, 7, 11, and<br>20)		20,919,935		25,202,672
Financial assets at fair value through other comprehensive income (“FVTOCI”) (Notes 4,<br>8, and 11)		39,407,940		43,797,745
Securities at amortized cost (Notes 4, 9, and 11)		18,762,707		19,203,177
Loans and other financial assets at amortized cost (Notes 4, 10, 11, and 34)		413,452,761		398,471,816
Investments in joint ventures and associates (Note 12)		1,776,364		1,748,810
Investment properties		425,820		450,788
Premises and equipment		3,294,863		3,370,585
Intangible assets		1,066,480		1,091,402
Assets held for sale		188,764		73,989
Net defined benefit asset (Note 18)		2,626		146,109
Current tax assets		43,745		61,613
Deferred tax assets		53,720		72,937
Derivative assets (Designated for hedging) (Notes 4, 11 and 20)		121,375		175,191
Other assets (Notes 13 and 34)		4,587,177		4,605,363
Total assets		534,112,776		525,753,320
LIABILITIES
Financial liabilities at fair value through profit or loss (“FVTPL”) (Notes 4, 11, 14<br>and 20)		5,088,263		9,896,597
Deposits due to customers (Notes 4, 11, 15 and 34)		369,477,799		366,821,156
Borrowings (Notes 4, 11 and 16)		31,418,274		30,117,031
Debentures (Notes 4, 11 and 16)		49,166,841		48,207,103
Provisions (Notes 17, 33 and 34)		620,545		611,428
Net defined benefit liability (Note 18)		25,284		5,424
Current tax liabilities		604,383		127,126
Deferred tax liabilities		550,179		858,822
Derivative liabilities (Designated for hedging) (Notes 4, 11 and 20)		75,869		102,815
Other financial liabilities (Notes 4, 11, 19 and 34)		40,613,948		32,314,051
Other liabilities (Notes 19 and 34)		755,873		796,498
Total liabilities		498,397,258		489,858,051
EQUITY
Owners’ equity (Note 21)
Capital stock		3,802,676		3,802,676
Hybrid securities		3,510,947		3,810,435
Capital surplus		934,351		934,100
Other equity		(1,806,515	)	(1,400,885	)
Retained earnings		27,734,027		26,950,510
		34,175,486		34,096,836
Non-controlling interests		1,540,032		1,798,433
Total equity		35,715,518		35,895,269
Total liabilities and equity		534,112,776		525,753,320

The accompanying notes are part of these condensed consolidated interim financial statements.

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(UNAUDITED)

	Periods ended June 30, 2025						Periods ended June 30, 2024
	Three-month			Six-month			Three-month			Six-month
	(Korean Won in millions, except for earnings per share data)
Interest income		5,114,607			10,419,776			5,418,375			10,887,876
Financial assets at FVTPL		64,600			120,559			57,213			114,866
Financial assets at FVTOCI		324,231			675,627			322,136			626,636
Financial assets at amortized cost		4,725,776			9,623,590			5,039,026			10,146,374
Interest expense		(2,852,790	)		(5,905,968	)		(3,221,479	)		(6,492,777	)
Net interest income (Notes 23 and 34)	****	2,261,817	****	****	4,513,808	****	****	2,196,896	****	****	4,395,099	****
Fees and commissions income		732,233			1,441,204			743,509			1,433,183
Fees and commissions expense		(209,915	)		(407,452	)		(188,274	)		(375,017	)
Net fees and commissions loss (Notes 24 and 34)	****	522,318	****	****	1,033,752	****	****	555,235	****	****	1,058,166	****
Dividend income (Notes 25 and 34)		72,609			142,433			85,956			152,738
Net gain (loss) on financial instruments at FVTPL (Note 26)		(325,304	)		(122,936	)		386,511			902,118
Net gain on financial assets at FVTOCI (Note 27)		47,566			80,823			18,039			38,515
Net gain arising on financial assets at amortized cost		33,346			53,151			119,526			165,645
Impairment losses due to credit loss (Notes 28 and 34)		(507,809	)		(943,310	)		(408,980	)		(775,492	)
General and administrative expense (Notes 29 and 34)		(1,172,914	)		(2,479,086	)		(1,069,320	)		(2,100,987	)
Other net operating income and expense (Notes 20, 29 and 34)		176,822			(300,921	)		(630,543	)		(1,431,793	)
Operating income (Note 5)	****	1,108,451	****	****	1,977,714	****	****	1,253,320	****	****	2,404,009	****
Share of gain of joint ventures and associates (Note 12)		61,653			71,688			34,122			39,631
Other non-operating income and expense		16,381			1,678			(40,540	)		(52,781	)
Non-operating income (expense) (Note<br>30)	****	78,034	****	****	73,366	****	****	(6,418	)	****	(13,150	)
Net income before income tax expense	****	1,186,485	****	****	2,051,080	****	****	1,246,902	****	****	2,390,859	****
Income tax expense (Note 31)		(246,742	)		(456,781	)		(285,393	)		(590,439	)
Net income	****	939,743	****	****	1,594,299	****	****	961,509	****	****	1,800,420	****

(Continued)

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

(UNAUDITED)

	Periods ended June 30, 2025						Periods ended June 30, 2024
	Three-month			Six-month			Three-month			Six-month
	(Korean Won in millions, except for earnings per share data)
Net gain (loss) on valuation of equity securities at FVTOCI		(7,234	)		21,753			(30,182	)		(85,934	)
Net gain (loss) on credit risk fluctuation of financial liabilities designated to be measured at<br>FVTPL		(8	)		18			391			837
Changes in capital due to equity method		(251	)		(1,361	)		(129	)		(1,562	)
Remeasurement gain (loss) related to defined benefit plan		24,931			(89,851	)		(30,991	)		(49,492	)
Items that will not be reclassified to profit or loss:	****	17,438	****	****	(69,441	)	****	(60,911	)	****	(136,151	)
Net gain on valuation of debt securities at FVTOCI		17,202			66,844			64,962			45,769
Changes in capital due to equity method		(2,149	)		(663	)		875			(4,955	)
Net gain (loss) on foreign currency translation of foreign operations		(388,415	)		(388,840	)		91,896			219,154
Net gain (loss) on valuation of hedges of net investments in foreign operations		70,009			72,235			(26,961	)		(63,449	)
Net gain (loss) on valuation of cash flow hedge		(1,606	)		121			549			6,230
Items that may be reclassified to profit or loss:	****	(304,959	)	****	(250,303	)	****	131,321	****	****	202,749	****
Other comprehensive income (loss), net of tax	****	(287,521	)	****	(319,744	)	****	70,410	****	****	66,598	****
Total comprehensive income	****	652,222	****	****	1,274,555	****	****	1,031,919	****	****	1,867,018	****
Net income attributable to:	****	939,743	****	****	1,594,299	****	****	961,509	****	****	1,800,420	****
Net income attributable to owners		935,328			1,552,019			931,495			1,755,496
Net income attributable to non-controlling<br>interests		4,415			42,280			30,014			44,924
Total comprehensive income attributable to:	****	652,222	****	****	1,274,555	****	****	1,031,919	****	****	1,867,018	****
Comprehensive income attributable to owners		656,432			1,244,502			1,002,724			1,819,493
Comprehensive income attributable to non-controlling<br>interests		(4,210	)		30,053			29,195			47,525
Earnings per share (Note 32)
Basic and diluted earnings per share<br>(Unit: In Korean Won)		1,225			2,006			1,206			2,262

The accompanying notes are part of these condensed consolidated interim financial statements.

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024 (UNAUDITED)

	Capital<br>Stock
	(Korean Won in millions)
January 1, 2024		3,802,676	3,611,129		935,563		(1,668,957	)	24,986,470		31,666,881		1,730,609		33,397,490
Total comprehensive income
Net income		—	—		—		—		1,755,496		1,755,496		44,924		1,800,420
Net loss on valuation of financial instruments at FVTOCI		—	—		—		(40,051	)	—		(40,051	)	(114	)	(40,165	)
Net gain (loss) due to disposal of equity securities at FVTOCI		—	—		—		436		(436	)	—		—		—
Net gain on credit risk fluctuation of financial liabilities designated to be measured at<br>FVTPL		—	—		—		837		—		837		—		837
Changes in capital due to equity method		—	—		—		(6,517	)	—		(6,517	)	—		(6,517	)
Gain on foreign currency translation of foreign operations		—	—		—		216,431		—		216,431		2,723		219,154
Loss on valuation of hedges of net investments in foreign operations		—	—		—		(63,449	)	—		(63,449	)	—		(63,449	)
Gain on valuation of cash flow hedge		—	—		—		6,230		—		6,230		—		6,230
Remeasurement loss related to defined benefit plan		—	—		—		(49,484	)	—		(49,484	)	(8	)	(49,492	)
Transactions with owners
Dividends to common stocks		—	—		—		—		(612,107	)	(612,107	)	(3,468	)	(615,575	)
Changes in treasury stocks		—	—		993		3,832		(136,688	)	(131,863	)	—		(131,863	)
Issuance of hybrid securities		—	797,913		—		—		—		797,913		—		797,913
Dividends to hybrid securities		—	—		—		—		(75,007	)	(75,007	)	(38,294	)	(113,301	)
Changes in subsidiaries’ capital		—	—		12,256		1,695		(1,695	)	12,256		(12,488	)	(232	)
Others		—	—		(10,986	)	—		(11	)	(10,997	)	(42,839	)	(53,836	)
June 30, 2024 (Unaudited)		3,802,676	4,409,042		937,826		(1,598,997	)	25,916,022		33,466,569		1,681,045		35,147,614
January 1, 2025		3,802,676	3,810,435		934,100		(1,400,885	)	26,950,510		34,096,836		1,798,433		35,895,269
Total comprehensive income
Net income		—	—		—		—		1,552,019		1,552,019		42,280		1,594,299
Net gain on valuation of financial instruments at FVTOCI		—	—		—		88,271		—		88,271		326		88,597
Net gain (loss) due to disposal of equity securities at FVTOCI		—	—		—		1,827		(1,827	)	—		—		—
Net gain on credit risk fluctuation of financial liabilities designated to be measured at<br>FVTPL		—	—		—		18		—		18		—		18
Changes in capital due to equity method		—	—		—		(2,024	)	—		(2,024	)	—		(2,024	)
Loss on foreign currency translation of foreign operations		—	—		—		(376,284	)	—		(376,284	)	(12,556	)	(388,840	)
Gain on valuation of hedges of net investments in foreign operations		—	—		—		72,235		—		72,235		—		72,235
Gain on valuation of cash flow hedge		—	—		—		121		—		121		—		121
Remeasurement gain (loss) related to defined benefit plan		—	—		—		(89,854	)	—		(89,854	)	3		(89,851	)
Transactions with owners
Dividends to common stocks		—	—		—		—		(634,898	)	(634,898	)	(999	)	(635,897	)
Changes in treasury stocks		—	—		1		(150,000	)	—		(149,999	)	—		(149,999	)
Issuance of hybrid securities		—	398,789		—		—		—		398,789		—		398,789
Dividends to hybrid securities		—	—		—		—		(75,672	)	(75,672	)	(47,749	)	(123,421	)
Redemption of hybrid securities		—	(698,277	)	—		(2,139	)	—		(700,416	)	(239,434	)	(939,850	)
Transfer of redemption loss of hybrid securities to retained earnings		—	—		—		2,456		(2,456	)	—		—		—
Changes in subsidiaries’ capital		—	—		250		49,743		(49,743	)	250		(250	)	—
Others		—	—		—		—		(3,906	)	(3,906	)	(22	)	(3,928	)
June 30, 2025 (Unaudited)		3,802,676	3,510,947		934,351		(1,806,515	)	27,734,027		34,175,486		1,540,032		35,715,518

The accompanying notes are part of these condensed consolidated interim financial statements.

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month periods ended June 30
	2025			2024
	(Korean Won in millions)
Cash flows from operating activities :
Net income		1,594,299			1,800,420
Adjustments to net income:
Income tax expense		456,781			590,439
Interest income		(10,419,776	)		(10,887,876	)
Interest expense		5,905,968			6,492,777
Dividend income		(142,433	)		(152,738	)
		(4,199,460	)		(3,957,398	)
Additions of expenses not involving cash outflows:
Loss on financial assets at FVTOCI		4,306			345
Impairment loss due to credit loss		943,310			775,492
Loss on other provisions		16,570			20,650
Retirement benefit		98,078			64,350
Depreciation and amortization		618,737			564,151
Loss on foreign currency translation		—			753,333
Loss on derivatives (designated for hedge)		111,521			44,299
Loss on fair value hedge		59,901			29,253
Loss on valuation of investments in joint ventures and associates		12,714			12,250
Loss on disposal of investments in joint ventures and associates		241			438
Loss on disposal of Premises and equipment, intangible assets and other assets		1,060			1,313
Impairment loss on Premises and equipment, intangible assets and other assets		382			1,362
Other losses		2,788			—
		1,869,608			2,267,236
Deductions of income not involving cash inflows:
Gain on financial instruments at FVTPL		194,476			440,690
Gain on financial assets at FVTOCI		85,129			38,860
Gain on other provisions		511			11,893
Gain on foreign currency translation		679,593			—
Gain on derivatives (designated for hedge)		85,237			83,926
Gain on fair value hedge		3,887			42,020
Gain on valuation of investments in joint ventures and associates		84,403			51,881
Gain on disposal of investments in joint ventures and associates		422			671
Gain on disposal of Premises and equipment, intangible assets and other assets		16,165			2,611
Reversal of impairment loss on Premises and equipment, intangible assets and other assets		919			23
		1,150,742			672,575
Changes in operating assets and liabilities:
Financial instruments at FVTPL		170,127			253,255
Loans and other financial assets at amortized cost		(19,252,504	)		(12,358,725	)
Other assets		(424,306	)		(778,289	)
Deposits due to customers		5,913,514			(1,170,406	)
Provisions		(845	)		(173,798	)
Net defined benefit liability		(55,953	)		(3,029	)
Other financial liabilities		8,534,068			4,865,450
Other liabilities		(29,395	)		(38,840	)
		(5,145,294	)		(9,404,382	)
Interest income received		10,201,240			10,801,148
Interest expense paid		(5,554,474	)		(5,817,727	)
Dividends received		142,519			137,822
Income tax paid		(264,346	)		(121,314	)
		4,524,939			4,999,929
Net cash provided by (used in) operating activities		(2,506,650	)		(4,966,770	)

(Continued)

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month periods ended June 30
	2025			2024
	(Korean Won in millions)
Cash flows from investing activities:
Disposal of financial instruments at FVTPL		8,988,569			6,777,738
Acquisition of financial instruments at FVTPL		(9,616,922	)		(6,681,541	)
Disposal of financial assets at FVTOCI		18,412,515			13,859,312
Acquisition of financial assets at FVTOCI		(14,160,445	)		(14,325,052	)
Redemption of securities at amortized cost		2,871,657			2,245,188
Acquisition of securities at amortized cost		(2,473,315	)		(502,738	)
Cash inflows (outflows) from changes in subsidiaries		19,529			(307,882	)
Disposal of investments in joint ventures and associates		71,564			823,909
Acquisition of investments in joint ventures and associates		(83,970	)		(740,003	)
Disposal of Premises and equipment		35,197			2,278
Acquisition of Premises and equipment		(111,109	)		(92,039	)
Disposal of intangible assets		333			4,205
Acquisition of intangible assets		(80,612	)		(106,888	)
Disposal of assets held for sale		17,201			3,300
Net increase (decrease) of other assets		28,008			9,217
		3,918,200			969,004
Cash flows from financing activities:
Net cash in-flows<br>(out-flows) from hedging activities		(425	)		(17,295	)
Net increase (decrease) in borrowings		2,529,754			(1,777,921	)
Issuance of debentures		17,627,111			15,073,775
Redemption of debentures		(16,339,027	)		(14,798,992	)
Redemption of lease liabilities		(117,119	)		(115,104	)
Net increase of other liabilities		(286	)		(17,082	)
Acquisition of treasury stocks		(149,860	)		(136,711	)
Disposal of treasury stocks		—			4,847
Dividends paid		(634,898	)		(612,107	)
Issuance of hybrid securities		398,789			797,913
Redemption of hybrid securities		(940,000	)		—
Dividends paid to hybrid securities		(123,421	)		(113,301	)
Dividends paid to non-controlling interest		(999	)		(3,468	)
Changes in non-controlling interests		—			(41,606	)
Net increase (decrease) in non-controlling equity<br>liabilities		3,539			(1,589	)
		2,253,158			(1,758,641	)
Effects of exchange rate changes on cash and cash equivalents		(937,332	)		671,421
Net increase (decrease) in cash and cash equivalents		2,727,376			(5,084,986	)
Cash and cash equivalents, beginning of the period		27,281,123			30,556,618
Cash and cash equivalents, end of the Period (Note 6)		30,008,499			25,471,632

The accompanying notes are part of these condensed consolidated interim financial statements.

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

1.	GENERAL
(1)	Summary of the Parent company
---	---

Woori Financial Group, Inc. (hereinafter referred to as the “Parent company”) is primarily aimed at controlling subsidiaries that operate in the financial industry or those that are closely related to the financial industry through the ownership of shares and was established on January 11, 2019 under the Financial Holding Company Act through the comprehensive transfer with shareholders of Woori Bank (hereinafter referred to as the “Bank”), Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Services Co., Ltd. and Woori Private Equity Asset Management Co. Ltd. The headquarters of the Parent company is located at 51, Sogong-ro, Jung-gu, Seoul, Korea, and the capital stock is 3,802,676 million Won. The Parent company’s stocks were listed on the Korea Exchange on February 13, 2019, and its American Depository Shares (“ADS”) are also being traded as the underlying common stock on the New York Stock Exchange since the same date.

The details of stock transfer between the Parent company and subsidiaries as of Incorporation are as follows (Unit: Number of shares)

Stock transfer company
Woori Bank	676,000,000	1.0000000	676,000,000
Woori FIS Co., Ltd.	4,900,000	0.2999708	1,469,857
Woori Finance Research Institute Co., Ltd.	600,000	0.1888165	113,289
Woori Credit Information Co., Ltd.	1,008,000	1.1037292	1,112,559
Woori Fund Service Co., Ltd.	2,000,000	0.4709031	941,806
Woori Private Equity Asset Management Co., Ltd.	6,000,000	0.0877992	526,795

As of August 1, 2019, the Parent company acquired a 73% interest in Tongyang Asset Management Co., Ltd. and changed the name to Woori Asset Management Corp. Also, as of August 1, 2019, the Parent company gained 100% control of ABL Global Asset Management Co., Ltd., added it as a consolidated subsidiary and changed the name to Woori Global Asset Management Co., Ltd. on December 6, 2019.

The Parent company paid 598,391 million Won in cash and 42,103,377 new shares of the Parent company to acquire 100% interest of Woori Card Co., Ltd. from its subsidiary, Woori Bank, on September 10, 2019. On the same date, the Parent company also acquired 59.8% interest of Woori Investment Bank Co., Ltd. from Woori Bank with 392,795 million Won in cash.

As of December 30, 2019, the Parent company acquired a 67.2% interest (excluding treasury stocks, 51% interest including treasury stocks) in Woori Asset Trust Co., Ltd. (formerly Kukje Asset Trust Co., Ltd.) and added it as a consolidated subsidiary at the end of 2019. As of March 31, 2023, it acquired an additional 28.1% interests (excluding treasury stock, 21.3% in the case of including treasury stock).

The Parent company acquired 76.8% (excluding treasury stocks, 74.0% interest including treasury stocks) interest in Woori Financial Capital Co., Ltd. (formerly Aju Capital Co., Ltd.) on December 10, 2020. In addition, as of April 15, 2021, the Parent company acquired 13.3% interests (excluding treasury stock, 12.9% when including treasury stock) in Woori Financial Capital Co., Ltd., and as of May 24, 2021, the Parent company additionally acquired treasury stock (3.6%) which Woori Financial Capital Co., Ltd. possessed.

The Parent company paid 113,238 million Won in cash to acquire 100% interest of Woori Savings Bank from its subsidiary, Woori Financial Capital Co., Ltd., on March 12, 2021.

As of August 10, 2021, the Parent company paid 5,792,866 new shares of the Parent company to the shareholders of Woori Financial Capital Co., Ltd. (excluding the Parent company) through comprehensive stock exchange and acquired residual interest (9.5%) of Woori Financial Capital Co., Ltd., to make it a wholly owned subsidiary.

As of January 7, 2022, the Parent company established Woori Financial F&I Co., Ltd., an investment company for non-performing loans and restructuring companies (100% interest, 200 billion Won in stock payments) and included it as a subsidiary.

- 10 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

As of March 23, 2023, the Parent company acquired a 53.9% interest (excluding treasury stocks, 52.0% interest including treasury stocks) in Woori Venture Partners Co., Ltd. (formerly Daol Investment Co., Ltd.), and added it as a consolidated subsidiary. As of May 30, 2023, the Parent company additionally acquired treasury stock (3.5%) which Woori Venture Partners Co., Ltd. possessed.

As of August 8, 2023, the Parent company paid 22,541,465 new shares of the Parent company to the shareholders of Woori Investment Bank Co., Ltd. (excluding the Parent company) through comprehensive stock exchange and acquired residual interest (41.3%) of Woori Investment Bank Co., Ltd., to make it a wholly owned subsidiary. In addition, on the same day, the Parent company paid 9,933,246 new shares of the Parent company to the shareholders of Woori Venture Partners Co., Ltd. (excluding the Parent company) through comprehensive stock exchange and acquired residual interest (44.5%) of Woori Venture Partners Co., Ltd., to make it a wholly owned subsidiary.

The Parent company’s percentage of ownership in Woori Asset Management Corp. after the merger between Woori Asset Management Corp. (the surviving company) and Woori Global Asset Management Co., Ltd. (the merged company) is 77.5%. On March 29, 2024, the Parent company acquired the remaining shares (22.5%) of Woori Asset Management Corp., pursuant to which Woori Asset Management Corp. became a wholly-owned subsidiary of the parent company.

On March 25, 2024, the Parent company participated in the capital increase amount and acquired the 1,062,045 shares (96.7% after acquiring shares, 79.4% including treasury shares) of Woori Asset Trust Co., Ltd. Additionally, on March 29, 2024, Woori Asset Trust Co., Ltd. conducted a complete retirement of its 738,000 treasury shares. In addition, as of April 8, 2024, the Parent company additionally acquired minority interests (2.0%) of Woori Asset Trust Co., Ltd. As of November 19, 2024, the Parent company additionally acquired minority interests (0.9%) of Woori Asset Trust Co., Ltd.

On August 1, 2024, The Company owned 97.1% interest in merged securities firm as a result of merger between Korea Foss Securities (the surviving company) and Woori Investment Bank Co., Ltd. (dissolution company), and acquired an additional 2.3% out of the remaining interest. The merged securities company also changed its name to Woori Investment Securities Co., Ltd.

(2)	Details of the Parent company and subsidiaries (hereinafter ‘Group’) as of June 30, 2025 and<br>December 31, 2024 are as follows:
		Percentage of ownership<br>(%)				Location		Financial<br>statements date
---	---	---	---	---	---	---	---	---	---
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Held by Woori Financial Group Inc.
Woori Bank	Bank		100.0		100.0		Korea		June 30
Woori Card Co., Ltd.	Finance		100.0		100.0		Korea		June 30
Woori Financial Capital Co., Ltd.	Finance		100.0		100.0		Korea		June 30
Woori Investment Securities Co., Ltd. (*1)	Securities brokerage		99.5		99.5		Korea		June 30
Woori Asset Trust Co., Ltd.	Real estate trust		99.6		99.6		Korea		June 30
Woori Savings Bank	Mutual saving bank		100.0		100.0		Korea		June 30
Woori Financial F&I Co., Ltd.	Finance		100.0		100.0		Korea		June 30
Woori Asset Management Corp. (*1)	Finance		100.0		100.0		Korea		June 30
Woori Venture Partners	Other financial services		100.0		100.0		Korea		June 30
Woori Private Equity Asset Management Co., Ltd.	Finance		100.0		100.0		Korea		June 30
Woori Credit Information Co., Ltd.	Credit information		100.0		100.0		Korea		June 30
Woori Fund Service Co., Ltd.	Financial support service business		100.0		100.0		Korea		June 30
Woori FIS Co., Ltd.	System software development & maintenance		100.0		100.0		Korea		June 30
Woori Finance Research Institute Co., Ltd.	Other service business		100.0		100.0		Korea		June 30
Held by Woori Bank
Woori America Bank	Finance		100.0		100.0		America		June 30
Woori Global Markets Asia Limited	Finance		100.0		100.0		Hong Kong		June 30

- 11 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)				Location	Financial<br>statements date
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Woori Bank China Limited	Finance		100.0		100.0	China	June 30
AO Woori Bank (*7)	Finance		100.0		100.0	Russia	June 30
PT Bank Woori Saudara Indonesia 1906 Tbk	Finance		90.8		90.8	Indonesia	June 30
Banco Woori Bank do Brasil S.A.	Finance		100.0		100.0	Brazil	June 30
Korea BTL Infrastructure Fund	Finance		99.9		99.9	Korea	June 30
Woori Finance Myanmar Co., Ltd.	Finance		100.0		100.0	Myanmar	June 30
Wealth Development Bank	Finance		51.0		51.0	Philippines	June 30
Woori Bank Vietnam Limited	Finance		100.0		100.0	Vietnam	June 30
Woori Bank (Cambodia) PLC	Finance		100.0		100.0	Cambodia	June 30
Woori Bank Europe	Finance		100.0		100.0	Germany	June 30
KAMCO Value Recreation First Securitization Specialty Co., Ltd. (*2)	Asset securitization		15.0		15.0	Korea	June 30
Jeonju Iwon Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Wonju I one Inc. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Heitz Third Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori hansoop 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori QS 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Dream 2nd Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori K 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Display 3rd Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Quantum Jump the 2nd Co., Ltd. (2) (5)	Asset securitization		0.0		0.0	Korea	—
Woori HW 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Dream 3rd Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori SJS 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
SPG the 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori-HWC 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori HC 3rd Co., Ltd. (*2).	Asset securitization		0.0		0.0	Korea	June 30
WOORI PARC.1 1ST CO., LTD(2)(5)	Asset securitization		0.0		0.0	Korea	—
Woori HC 4th Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori SKR 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori H chemical 1st Co.,Ltd (*2)	Asset securitization		0.0		0.0	Korea	June 30
HE the 1st Co.,Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Hub The 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori K The 3rd Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori KF 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori L Yongsan 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori HC 5th Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Lotte Dongtan 1st Co., Ltd. (2)(5)	Asset securitization		0.0		0.0	Korea	—
Woori HC 6th Co., Ltd. (2)(5)	Asset securitization		0.0		0.0	Korea	—
Woori HO 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori ESG 1st Co.,Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Osiria 1st Co.,Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Gangnam Landmark 2nd Co., Ltd(2)(5)	Asset securitization		0.0		0.0	Korea	—
Woori HP the 1st co.,Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori KF 2nd Co., Ltd.(*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori HD 1st co., Ltd.(*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori ST 1st co.,Ltd.(*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori HW 2nd co., Ltd.(*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Mirae 1st co., Ltd.(2)(5)	Asset securitization		0.0		0.0	Korea	—
Woori HR 2nd Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori QS 2nd Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori Plasma 1st Co., Ltd. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Woori EUGENE 1st Co.,Ltd (*2)	Asset securitization		0.0		0.0	Korea	June 30

- 12 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
WOORIWON 1ST, CO,.LIMITED. (*2)	Asset securitization		0.0		0.0	Korea	June 30
WOORI ENERBILITY 1ST, CO,.LIMITED. (*2)	Asset securitization		0.0		0.0	Korea	June 30
WOORI HL 1ST, CO,.LIMITED. (*2)	Asset securitization		0.0		0.0	Korea	June 30
WOORI PARC1 2ND CO.,LTD (2) (10)	Asset securitization		0.0		0.0	Korea	June 30
WOORI HEROS 1ST CO.,LTD. (2) (10)	Asset securitization		0.0		0.0	Korea	June 30
WOORI GANGNAM ALPHA 1ST CO.,LTD. (2) (10)	Asset securitization		0.0		0.0	Korea	June 30
WOORI BLOSSOM 1ST CO.,LTD. (2) (10)	Asset securitization		0.0		0.0	Korea	June 30
WOORI SEOUL STATION AREA 1ST, CO,.LTD. (*2)	Asset securitization		0.0		0.0	Korea	June 30
Heungkuk Global Private Placement Investment Trust No. 1 (*3)	Securities investment and others		98.8		98.8	Korea	June 30
AI Partners UK Water Supply Private Placement Investment Trust No.2 (*3)	Securities investment and others		97.3		97.3	Korea	June 30
Multi Asset Global Real Estate Investment Trust<br>No. 5-2 (*3)	Securities investment and others		99.0		99.0	Korea	June 30
IGIS Australia Investment Trust No. 209-1<br>(*3)	Securities investment and others		99.4		99.4	Korea	June 30
Woori Global Secondary Private Placement Investment Trust No. 1 (*3)	Securities investment and others		98.8		98.8	Korea	June 30
JB Airline Private Placement Investment Trust No.8 (*3)	Securities investment and others		97.0		97.0	Korea	June 30
Kiwoom Harmony Private Placement Investment Trust No. 2 (*3)	Securities investment and others		97.5		97.3	Korea	June 30
Kiwoom Harmony Private Placement Investment Trust No. 1 (*3)	Securities investment and others		97.4		97.4	Korea	June 30
Kiwoom Harmony Private Placement Investment Trust No. 4 (*3)	Securities investment and others		96.2		96.2	Korea	June 30
Kiwoom Harmony Private Placement Investment Trust No. 9 (3) (10)	Securities investment and others		100.0		0.0	Korea	June 30
Principal Guaranteed Trust (*4)	Trust		0.0		0.0	Korea	June 30
Principal and Interest Guaranteed Trust (*4)	Trust		0.0		0.0	Korea	June 30
Held by Multi Asset Global Real Estate Investment Trust<br>No. 5-2
MAGI No.5 LuxCo S.a.r.l.	Asset securitization		54.6		54.6	Luxembourg	June 30
Held by MAGI No.5 LuxCo S.a.r.l.
ADP 16 Brussels	Asset securitization		100.0		100.0	Belgium	June 30
Held by Woori ESG Infrastructure Development General Private Investment Trust No. 1:
Woori Global Infrastructure Development Co., Ltd.	Other financial services		100.0		100.0	Korea	June 30
Namyangju Resource Circulation Facility Development Co., Ltd.	Other professional services		100.0		100.0	Korea	June 30
Held by Woori Card Co., Ltd.
TUTU Finance–WCI Myanmar Co., Ltd.	Finance		100.0		100.0	Myanmar	June 30
PT Woori Finance Indonesia Tbk.	Finance		84.5		84.5	Indonesia	June 30
Woori Card 2021-1 Asset Securitization Specialty Co., Ltd.<br>(2) (5)	Asset securitization		0.0		0.5	Korea	—
Woori Card 2022-1 Asset Securitization Specialty Co., Ltd.<br>(*2)	Asset securitization		0.5		0.5	Korea	June 30
Woori Card 2022-2 Asset Securitization Specialty Co., Ltd.<br>(*2)	Asset securitization		0.5		0.5	Korea	June 30

- 13 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)				Location	Financial<br>statements date
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Woori Card 2023-1 Asset Securitization Specialty Co., Ltd.<br>(*2)	Asset securitization		0.5		0.5	Korea	June 30
Woori Card 2023-2 Asset Securitization Specialty Co., Ltd.<br>(*2)	Asset securitization		0.5		0.5	Korea	June 30
Woori Card 2024-1 Asset Securitization Specialty Co., Ltd.<br>(*2)	Asset securitization		0.5		0.5	Korea	June 30
Held by Woori Financial Capital Co., Ltd.
Specified Money Market Trust	Trust		100.0		100.0	Korea	June 30
Held by Woori Investment Securities Co., Ltd.
Seari Second Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
Namjong 1^st^ Securitization Specialty Co.,<br>Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
Bukgeum First Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
Bukgeum Second Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WS1909 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WS2003 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WS2006 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WH2103 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WN2103 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WH2106 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WiBee AK 1st Co.,Ltd. (2) (10)	Asset securitization		0.0		0.0	Korea	June 30
Held by Woori Asset Management Corp.
Woori China Convertible Bond Hedging feeder Investment Trust H (debt-oriented hybrid) (3)<br>(5)	Securities investment and others		0.0		89.5	Korea	—
Woori China Convertible Bond Master Fund (3) (5)	Securities investment and others		0.0		63.3	Korea	—
Woori Together TDF 2040 (3) (5)	Securities investment and others		0.0		34.3	Korea	—
Woori Together TDF 2045 (*3)	Securities investment and others		48.6		56.0	Korea	June 30
Woori Together TDF 2050 (3) (5)	Securities investment and others		—		31.5	Korea	—
Woori Rooftop Solar Private Special Asset Investment Trust No.1 (*3)	Securities investment and others		40.1		40.1	Korea	June 30
Woori Didim US Technology and Bio-Healthcare Feeder<br>Investment Trust (3) (5)	Securities investment and others		0.0		44.6	Korea	—
Woori US Billionaire Equity Master Investment Trust (3) (5) (*10)	Securities investment and others		0.0		0.0	Korea	—
Woori US Billionaire Equity EMP Feeder Investment Trust<br>(H) ClassC-F (3) (5) (*10)	Securities investment and others		0.0		0.0	Korea	—
Woori US Billionaire Equity EMP Feeder Investment Trust (UH)<br>ClassC-F (3)(10)	Securities investment and others		70.4		0.0	Korea	June 30

- 14 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Woori Total Bond Market Master Investment Trust (3)(5)(*10)	Securities investment and others		0.0		0.0	Korea	—
Woori Short Term Bond Master Investment Trust (3)(5)(*10)	Securities investment and others		0.0		0.0	Korea	—
Held by Woori Financial F&I Co., Ltd.
WI2203 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WM2203 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WNI2206 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WI2209 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WN2212 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WK2212 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WH2306 Securitization Specialty Co., Ltd.(*2)	Asset securitization		5.0		5.0	Korea	June 30
WN2306 Securitization Specialty Co., Ltd.(*2)	Asset securitization		5.0		5.0	Korea	June 30
WNKN2309 Securitization Specialty Co., Ltd.(*2)	Asset securitization		5.0		5.0	Korea	June 30
WB2309 Securitization Specialty Co., Ltd.(*2)	Asset securitization		5.0		5.0	Korea	June 30
WI2311 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WSB2312 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WK2312 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WBS2312 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WK2403 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WH2403 Securitization Specialty Co., Ltd.(*2)	Asset securitization		5.0		5.0	Korea	June 30
WSB2406 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WK2406 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WI2406 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WKN2406 Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WS2409 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WSB2409 Asset Securitization Specialty Co., Ltd. (*2)	Asset securitization		5.0		5.0	Korea	June 30
WDSB2503 Asset Securitization Specialty Co., Ltd. (2) (10)	Asset securitization		5.0		0.0	Korea	June 30
WHKN2506 Asset Securitization Specialty Co., Ltd. (2) (10)	Asset securitization		5.0		0.0	Korea	June 30
VOGO DL General Private Equity Investment Trust 1(*3)	Securities investment and others		99.8		99.8	Korea	June 30
WFBS 1st Corporate Recovery Private Equity Fund	Finance		96.2		96.2	Korea	June 30
Held by Woori Venture Partners Co.,Ltd.
Woori Venture Partners US	Other financial services		100.0		100.0	America	June 30
Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Private Equity Asset Management<br>Co., Ltd. (*6)

- 15 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Green ESG Growth No.1 Private Equity Fund(*3)	Securities investment and others		34.7		34.8	Korea	June 30
Woori New Growth Credit Fund 1(*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori PE Secondary Fund 1 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Held by Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. and<br>Woori Investment Securities Co., Ltd. (*6)
Japanese Hotel Real Estate Private Equity Fund 1 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Securities Co., Ltd.,<br>Woori Savings Bank and Woori Private Equity Asset Management Co., Ltd. (*6)
Woori Innovative Growth Professional Investment Type Private Investment Trust No.1 (*3)	Securities investment and others		90.0		90.0	Korea	June 30
Held by Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Securities Co., Ltd. and<br>Woori Private Equity Asset Management Co., Ltd. (*6)
Woori Innovative Growth Professional Investment Type Private Investment Trust No.2 (*3)	Securities investment and others		85.0		85.0	Korea	June 30
Woori Innovative Growth New Deal Private Investment Trust No.3 (*3)	Securities investment and others		94.3		94.3	Korea	June 30
Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Investment Securities Co., Ltd.<br>(*6)
Woori GP Commitment Loan General Type Private Investment Trust No.1 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Equity Bridge Loan General Type Private Investment Trust No.1 (*3)	Securities investment and others		80.0		80.0	Korea	June 30
Woori GP Commitment Loan General Type Private Investment Trust No.2 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori GP Commitment Loan General Type Private Investment Trust No.3 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Junior Equity General Type Private Investment Trust (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Top-Class Senior and Junior Loan Private Investment<br>Trust (3) (10)	Securities investment and others		100.0		0.0	Korea	June 30
Held by Woori Bank, Woori Financial Capital Co., Ltd., and Woori Asset Management Corp.<br>(*6)
Woori New Deal (Infrastructure) Policy Fund No.1(*3)	Securities investment and others		70.0		70.0	Korea	June 30

- 16 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Held by Woori bank and Woori Investment Securities Co., Ltd. (*6)
Woori Global Development Infrastructure Synergy Company Private Placement Investment Trust No.1<br>(*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori NorthAmerica Infra Private Placement Investment Trust No. 1 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Infrastructure New Deal Specialized Investment Private Equity Investment Trust No. 1<br>(*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori General Type Private Real Estate Investment Trust No.2 (*3)	Securities investment and others		30.1		30.1	Korea	June 30
Woori ESG Infrastructure Development General Type Private Investment Trust No.1 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Real Estate Blind Investment General Type Private Investment Trust No.1 (3) (10)	Securities investment and others		100.0		0.0	Korea	June 30
Held by Woori bank (*6)
Woori WooriBank Partners General Type Private Investment Trust No.1 (*3)	Securities investment and others		92.6		92.6	Korea	June 30
Woori General Type Private Real Estate Investment Trust No.1 (*3)	Securities investment and others		86.8		84.9	Korea	June 30
Woori Global Mid-market Secondary General Type Private<br>Investment Trust No.1 (*3)	Securities investment and others		80.0		80.0	Korea	June 30
Woori Woori Bank Partners Professional Type Private Investment Trust No. 2 (*3)	Securities investment and others		90.9		90.9	Korea	June 30
Woori General Type Private Real Estate Investment Trust No.5 (*3)	Securities investment and others		87.0		87.0	Korea	June 30
Woori Senior Loan General Type Private Investment Trust No.2(*3)	Securities investment and others		50.0		50.0	Korea	June 30
Woori Japan General Type Private Real Estate Feeder Investment Trust No.1-2 (3) (5)	Securities investment and others		0.0		98.8	Korea	—
Woori Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 (*3)	Securities investment and others		99.9		99.9	Korea	June 30
Woori Clean Energy General Type Private Investment Trust No.2 (*3)	Securities investment and others		30.8		30.8	Korea	June 30
Woori ESG Infrastructure Development General Type Private Investment Trust No.2 (*3)	Securities investment and others		50.0		50.0	Korea	June 30
Woori Dongbu Underground Expressway General type Private Special Asset Investment Trust<br>(*3)	Securities investment and others		40.0		40.0	Korea	June 30
Woori Partners General Private Investment Trust No. 3 (*3)	Securities investment and others		90.9		90.9	Korea	June 30

- 17 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Woori Natixis Partnership Global Private Debt Fund No.<br>1-1(USD) (*3)	Securities investment and others		80.0		80.0	Korea	June 30
Woori Natixis Partnership Global Private Debt Fund No.<br>1-2(EUR) (*3)	Securities investment and others		80.0		80.0	Korea	June 30
Woori General Type Private Real Estate Investment Trust No.7 (*3)	Securities investment and others		87.0		87.0	Korea	June 30
Woori Senior Loan General Type Private Investment Trust No.3 (*3)	Securities investment and others		45.8		45.8	Korea	June 30
Held by Woori Bank and Woori Financial Capital Co., Ltd. (*6)
Woori Renewable New Deal Fund No.1 (*3)	Securities investment and others		60.0		60.0	Korea	June 30
Woori Equity Investment General Type Private Investment Trust No.1 (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Busan Logistics Infra Private Placement Special Asset Investment Trust (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Fund Financing General Type Private Investment Trust (*3)	Securities investment and others		99.7		99.7	Korea	June 30
Held by Woori Financial Capital Co., Ltd.(*6)
Woori Japan Private Placement Real Estate Feeder Investment Trust<br>No.1-1 (3) (5)	Securities investment and others		0.0		63.2	Korea	—
Held by Woori Bank and Woori Asset Management Corp. (*6)
Woori General Type Private Real Estate Investment Trust No.6 (*3)	Securities investment and others		85.8		85.8	Korea	June 30
Woori Innovation Growth(Infrastructure) General Type Private Investment Trust No.2 (*3)	Securities investment and others		46.4		46.4	Korea	June 30
Held by Woori bank, Woori Investment Securities Co., Ltd., and Woori Asset Management Corp.<br>(*6)
Woori Real Estate Financial Stabilization General Private Investment Trust No. 1<br>(*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori Real Estate Financial Stabilization General Private Investment Trust No. 2<br>(3)(10)	Securities investment and others		100.0		0.0	Korea	June 30
Held by Woori Bank, Woori Card Co., Woori Investment Securities Co., Ltd. and Woori Financial<br>Capital Co., Ltd. (*6)
Woori FG Digital Investment Fund 1st (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori FG DINNO Lab Fund 1st (*3)	Securities investment and others		100.0		100.0	Korea	June 30
Woori FG DINNO Lab Fund 2nd (3) (10)	Securities investment and others		100.0		0.0	Korea	June 30

- 18 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership<br>(%)
Subsidiaries	Main business	June 30,<br>2025		December 31,<br>2024
Held by Woori Japan Private Placement Real Estate Feeder Investment Trust No.1-1 and Woori Japan Investment Trust No. 1-2(*6)
Woori Japan Private Placement Real Estate Master Investment Trust No.1 (3)(5)(*8)	Securities investment and others		0.0		100.0	Korea	—
Held by Woori Financial Capital Co., Ltd. and Woori Investment Securities Co., Ltd. (*6)
Woori Japan Private Placement Real Estate Master Investment Trust<br>No.2-1 (3)(5)	Securities investment and others		0.0		100.0	Korea	—
Held by Woori Bank and Woori Private Equity Asset Management Co., Ltd. (*6)
Woori Corporate Turnaround No.1 Private Equity Fund (*3)	Securities investment and others		36.2		36.4	Korea	June 30
Held by Woori Japan Blind General Type Private Real Estate Feeder Investment Trust No.1 and Woori<br>Japan General Type Private Real Estate Feeder Investment Trust No.2-1(*6)
Woori Japan Private Placement Real Estate Master Investment Trust No.2 (3)(5)(*8)	Securities investment and others		0.0		100.0	Korea	—
Held by Woori Japan Private Placement Real Estate Master Investment Trust No.1
GK OK Chatan (3)(5)	Other financial services		0.0		99.9	Japan	—
Held by Woori Japan Blind General Type Private Real Estate Feeder Investment Trust No.1<br>(*6)
Woori Private Placement Investment Trust No. 3 (3)(8)	Securities investment and others		76.5		76.5	Korea	June 30
Held by Woori Private Placement Investment Trust No. 3
GK Woorido(*3)	Other financial services		100.0		100.0	Japan	March 31 (*9)
(*1)	The Company acquired additional shares of Woori Asset Trust Co., Ltd and Woori Asset Management Corp. for the<br>year ended December 31, 2024. Additionally, The Group owned interest in Korea Foss Securities Co., Ltd. as a result of the merger between Korea Foss Securities Co., Ltd. (surviving company) and Woori Investment Bank Co., Ltd. (dissolution<br>company) for the year ended December 31, 2024. The merged securities company also changed its name to Woori Investment Securities Co., Ltd.
---	---
(*2)	The entity is a structured entity for the purpose of asset securitization. Although the Group is not a majority<br>shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns.
---	---
(*3)	The entity is a structured entity for the purpose of investment in securities. Although the Group is not a<br>majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns.
---	---
(*4)	The entity is a ‘money trust’ under the Financial Investment Services and Capital Markets Act.<br>Although the Group is not a majority shareholder, the Group 1) has the power over the investee, 2) is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns.<br>
---	---
(*5)	Companies are excluded from the consolidation as of June 30, 2025.
---	---
(*6)	Determined that the Group controls the investees, considering the Group 1) has the power over the investee, 2)<br>is exposed to or has rights to variable returns from its involvement with the investee, and 3) has the ability to use its power to affect its returns, by two or more subsidiaries’ investment or operation.
---	---

- 19 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(*7)	The Russia – Ukraine conflict has been escalated in February 2022, and international sanctions were<br>imposed on Russia. Due to the sanctions, the Group may experience situations such as a decrease in value of financial assets or operating assets owned by the Group regarding the conflict, an increase in receivable payment terms, limitation to<br>transfer funds, decrease in the profit. As of June 30, 2025, the Group expects such conflict and sanctions would have financial impacts on the business of AO Woori Bank, one of the subsidiaries, in the future. However, the Group cannot<br>reasonably predict the financial impacts.
(*8)	As a master-feeder fund, it is the percentage of the feeder fund’s ownership in the master fund.<br>
---	---
(*9)	As the financial statements for the end of the reporting period were not available, the most recent financial<br>statements available from the date of settlement were used.
---	---
(*10)	Companies are included in the consolidation during the six-month period<br>ended June 30, 2025.
---	---
(3)	The Group has not consolidated the following entities as of June 30, 2025 and December 31, 2024<br>despite having more than 50% ownership interest:
---	---
	As of June 30, 2025
---	---	---	---	---
Subsidiaries	Location	Main Business	Percentage of<br>ownership (%)
Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*1)	Korea	Securities Investment		59.7
Kiwoom Yonsei Private Equity Investment Trust (*1)	Korea	Securities Investment		88.9
IGIS Europe Private Placement Real Estate Fund<br>No. 163-2 (*2)	Korea	Securities Investment		97.8
IGIS Global Private Placement Real Estate Fund<br>No. 148-1 (*1)	Korea	Securities Investment		75.0
IGIS Global Private Placement Real Estate Fund<br>No. 148-2 (*1)	Korea	Securities Investment		75.0
Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1)	Korea	Securities Investment		66.7
Hangkang Sewage Treatment Plant Fund (*1)	Korea	Securities Investment		55.6
Korea Investment Pocheon-Hwado Highway Private Special Asset Trust 2 (*1)	Korea	Securities Investment		55.2
Midas Global Private Placement Real Estate Investment Trust<br>No. 7-2 (*1)	Korea	Securities Investment		58.3
Samsung Together Korea IPPF private securities investment trust 3 [Equity-FoFs] (*3)	Korea	Securities Investment		100.0
INMARK France Private Placement Investment Trust<br>No. 18-1 (*1)	Korea	Securities Investment		93.8
Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR)<br>(*2)	Korea	Securities Investment		99.5
KOTAM Global Infra Private Fund 1-4 (*2)	Korea	Securities Investment		99.7
UBSHana Class 1 Special Asset Investment Trust 3 Class C 2 (*1)	Korea	Securities Investment		51.0
Consus GyeongJu Green Specialized Private Special Asset Investment Trust 1 (*1)	Korea	Securities Investment		50.0
Kiwoom Harmony Private Placement Investment Trust No. 3 (*1)	Korea	Securities Investment		77.3
Kiwoom Aurora Geneal Type Private Placement Investment Trust No. 2 (*1)	Korea	Securities Investment		60.0
NH-Amundi WSCP VIII Private Fund 2 (*1)	Korea	Securities Investment		65.2
AI Partners Global Infrastructure Specialized Privately Placed Feeder Fund Trust No. 2<br>(*2)	Korea	Securities Investment		100.0
Hangang new deal infra BTL fund 4 (HNBF4) (*1)	Korea	Securities Investment		60.0
IGIS Global Private Placement Real Estate Fund<br>No. 316-1(*2)	Korea	Securities Investment		99.3
INMARK Spain Private Placement Real Estate Investment Trust<br>No. 26-2 (*2)	Korea	Securities Investment		97.7
Woori Asset Global Partnership Fund No.5(*4)	Korea	Securities Investment		57.7
Kiwoom Harmony Private Placement Investment Trust No. 6 (*1)	Korea	Securities Investment		76.9
Project Chile PMGD Solar (*2)	Korea	Securities Investment		75.2
NH-Amundi BXD Private Fund 2[FoF] (*2)	Korea	Securities Investment		77.8
Rifa Qualified Investors Private Real Estate Investment Trust No.40 (*2)	Korea	Securities Investment		55.0
Hangang Green Environment Private Placement Special Asset Investment Trust (*1)	Korea	Securities Investment		50.0
(*1)	The Group does not have power over the discretionary fund because the fund manager has the sole authority to<br>decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it<br>holds more than 50% of ownership interest.
---	---
(*2)	The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of<br>the fund through the related contract. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest.
---	---
(*3)	The Group does not have power over the stock market stabilization fund as the fund’s relevant activities<br>are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest.
---	---
(*4)	In this fund, because one party holds substantive removal rights, they can remove the collective investment<br>business operator. Consequently, the Group has no control as it exercises decision-making rights as an agent.
---	---

- 20 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	As of December 31, 2024
Subsidiaries	Location	Main Business	Percentage of<br>ownership (%)
Mirae Asset Maps Clean Water Private Equity Investment Trust 7th (*1)	Korea	Securities Investment		59.7
Kiwoom Yonsei Private Equity Investment Trust (*1)	Korea	Securities Investment		88.9
IGIS Europe Private Placement Real Estate Fund<br>No. 163-2 (*2)	Korea	Securities Investment		97.8
IGIS Global Private Placement Real Estate Fund<br>No. 148-1 (*1)	Korea	Securities Investment		75.0
IGIS Global Private Placement Real Estate Fund<br>No. 148-2 (*1)	Korea	Securities Investment		75.0
Mirae Asset Seoul Ring Expressway Private Special Asset Fund No. 1 (*1)	Korea	Securities Investment		66.7
Hangang Blue Water Private Placement Special Asset Investment Trust (*1)	Korea	Securities Investment		55.6
Korea Investment Pocheon-Hwado Highway Private Special Asset Trust 2 (*1)	Korea	Securities Investment		55.2
Midas Global Private Placement Real Estate Investment Trust<br>No. 7-2 (*1)	Korea	Securities Investment		58.3
Samsung Together Korea IPPF private securities investment trust 3 [Equity-FoFs] (*3)	Korea	Securities Investment		100.0
INMARK France Private Placement Investment Trust<br>No. 18-1 (*1)	Korea	Securities Investment		93.8
Kiwoom Vibrato Private Placement Investment Trust 1-W(EUR)<br>(*2)	Korea	Securities Investment		99.5
KOTAM Global Infra Private Fund 1-4 (*2)	Korea	Securities Investment		99.7
UBSHana Class 1 Special Asset Investment Trust 3 Class C 2 (*1)	Korea	Securities Investment		51.0
Consus GyeongJu Green Specialized Private Special Asset Investment Trust 1 (*1)	Korea	Securities Investment		50.0
Kiwoom Harmony Private Placement Investment Trust No. 3 (*1)	Korea	Securities Investment		77.4
Consus Solar Energy Private Placement Investment Truns No.1(*1)	Korea	Securities Investment		50.0
Kiwoom Aurora Geneal Type Private Placement Investment Trust No. 2 (*1)	Korea	Securities Investment		60.0
NH-Amundi WSCP VIII Private Fund 2 (*1)	Korea	Securities Investment		65.2
AI Partners Global Infrastructure Specialized Privately Placed Feeder Fund Trust No. 2<br>(*2)	Korea	Securities Investment		100.0
Hangang new deal infra BTL fund 4 (HNBF4) (*1)	Korea	Securities Investment		60.0
IGIS Global Private Placement Real Estate Fund<br>No. 316-1 (*2)	Korea	Securities Investment		99.3
INMARK Spain Private Placement Real Estate Investment Trust<br>No. 26-2 (*2)	Korea	Securities Investment		97.7
Woori Asset Global Partnership Fund No.5 (*4)	Korea	Securities Investment		57.7
Kiwoom Harmony Private Placement Investment Trust No. 6 (*1)	Korea	Securities Investment		76.9
Project Chile PMGD Solar (*2)	Korea	Securities Investment		75.2
NH-Amundi BXD Private Fund 2[FoF] (*2)	Korea	Securities Investment		77.8
Rifa Qualified Investors Private Real Estate Investment Trust No.40 (*2)	Korea	Securities Investment		55.0
Hangang Green Environment Private Placement Special Asset Investment Trust (*1)	Korea	Securities Investment		50.0
(*1)	The Group does not have power over the discretionary fund because the fund manager has the sole authority to<br>decide the relevant activities of the investee. The fund manager’s delegated power is exercised not only for the Group, but also for other investors as well. The Group does not have the power over the fund’s activities even though it<br>holds more than 50% of ownership interest.
---	---
(*2)	The Group does not have power over the fund of funds because the Group cannot decide the relevant activities of<br>the fund through the related contract. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest. The Group does not have the power over the fund’s activities even though the<br>Group holds ownership interest.
---	---
(*3)	The Group does not have power over the stock market stabilization fund as the fund’s relevant activities<br>are determined by the management committee, over which the Group does not have substantial control. The Group does not have the power over the fund’s activities even though it holds more than 50% of ownership interest.
---	---
(*4)	In this fund, because one party holds substantive removal rights, they can remove the collective investment<br>business operator. Consequently, the Group has no control as it exercises decision-making rights as an agent.
---	---

- 21 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	The summarized financial information of the major subsidiaries is as follows. The financial information of each<br>subsidiary was prepared on the basis of consolidated financial statements. (Unit: Korean Won in millions):
	As of June 30, 2025				For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
Subsidiaries	Assets		Liabilities		Operating<br>revenue		Net<br>income(loss)<br>attributable<br>to owners			Total<br>comprehensive<br>income(loss)<br>attributable to<br>owners
Woori Bank		494,291,954		465,742,436		20,717,495		1,557,693			1,261,801
Woori Card Co., Ltd.		15,950,697		13,145,609		1,213,759		76,061			59,365
Woori Financial Capital Co., Ltd.		12,497,825		10,738,266		934,030		67,350			67,307
Woori Investment Securities Co., Ltd.		8,577,865		7,398,438		239,552		17,142			34,105
Woori Asset Trust Co., Ltd.		419,233		49,474		39,516		(89,998	)		(90,050	)
Woori Savings Bank		1,837,168		1,630,901		66,894		11,232			12,021
Woori Financial F&I Co., Ltd.		1,280,448		940,918		41,601		2,064			2,064
Woori Asset Management Corp.		189,911		20,793		31,212		8,549			8,503
Woori Venture Partners Co., Ltd.		377,306		28,459		10,542		21,378			21,141
Woori Private Equity Asset Management Co., Ltd.		101,602		5,163		5,819		778			865
Woori Credit Information Co., Ltd.		43,384		6,294		18,720		293			144
Woori Fund Service Co., Ltd.		31,380		2,419		8,963		1,998			1,998
Woori FIS Co., Ltd.		55,539		10,132		88,319		(1,354	)		(1,365	)
Woori Finance Research Institute Co., Ltd.		6,793		3,488		4,373		(454	)		(467	)
	As of December 31, 2024				For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Subsidiaries	Assets		Liabilities		Operating<br>revenue		Net<br>income(loss)<br>attributable<br>to owners			Total<br>comprehensive<br>income(loss)<br>attributable to<br>owners
Woori Bank		485,888,941		456,944,053		21,367,085		1,673,512			1,727,153
Woori Card Co., Ltd.		16,613,482		13,828,816		1,124,497		83,807			87,732
Woori Financial Capital Co., Ltd.		12,770,681		11,045,686		861,689		79,854			79,960
Woori Investment Bank Co., Ltd.		7,186,431		6,041,109		215,330		3,822			7,719
Woori Asset Trust Co., Ltd.		499,279		39,470		58,264		9,010			8,959
Woori Savings Bank		1,874,624		1,680,378		69,280		(27,797	)		(27,797	)
Woori Financial F&I Co., Ltd.		1,251,854		914,388		34,947		5,367			5,367
Woori Asset Management Corp.		203,232		39,077		28,666		4,743			4,700
Woori Venture Partners Co., Ltd.		350,066		15,060		49,709		29,086			29,413
Woori Private Equity Asset Management Co., Ltd.		101,164		5,589		5,385		3,323			3,209
Woori Credit Information Co., Ltd.		43,985		6,555		21,357		1,205			1,035
Woori Fund Service Co., Ltd.		31,154		2,799		8,929		2,480			2,480
Woori FIS Co., Ltd.		58,868		12,094		90,830		(3,764	)		(3,683	)
Woori Finance Research Institute Co., Ltd.		7,663		3,892		4,248		(125	)		(140	)

- 22 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(5)	The financial support that the Group provides to consolidated structured entities is as follows:<br>
-	Structured entity for asset securitization
---	---

The structured entity which is established for the purpose of securitization of project financing loans, corporate bonds, and other financial assets. The Group is involved with the structured entity through provision of credit facility over asset-backed commercial papers issued by the entity, originating loans directly to the structured entity, or purchasing 100% of the subordinated debts issued by the structured entity.

-	Structured entity for the investments in securities

The structured entity is established for the purpose of investments in securities. The Group acquires beneficiary certificates through its contribution of funding to the structured entity by the Group, and it is exposed to the risk that it may not be able to recover its fund depending on the result of investment performance of asset managers of the structured entity.

-	Money trust under the Financial Investment Services and Capital Markets Act

The Group provides with financial guarantee of principal and interest or solely principal to some of its trust products. Due to the financial guarantees, the Group may be obliged when the principal and interest or principal of the trust product sold is short of the guaranteed amount depending on the result of investment performance of the trust product.

As of June 30, 2025 and December 31, 2024, the Group provides 2,040,465 million Won and 2,166,871 million Won of credit facilities, respectively, for the structured entities mentioned above. As of June 30, 2025 and December 31, 2024, the purchase commitment amounts to 3,495,096 million Won and 2,817,626 million Won, respectively.

- 23 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(6)	As of June 30, 2025 and December 31, 2024, the share of<br>non-controlling interests on the net income and equity of subsidiaries in which non-controlling interests are significant are as follows: (Unit: Korean Won in millions):<br>
1)	Accumulated non-controlling interests at the end of the reporting<br>period
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Woori Bank (*)		1,406,512		1,645,947
Woori Investment Securities Co., Ltd.		5,714		5,571
Woori Asset Trust Co., Ltd.		1,528		1,901
PT Bank Woori Saudara Indonesia 1906 Tbk		88,529		104,023
Wealth Development Bank		22,421		23,975
PT Woori Finance Indonesia Tbk.		14,739		16,179
(*)	Hybrid securities issued by Woori Bank
---	---
2)	Net income attributable to non-controlling interests<br>
---	---
	For the six-month periods ended June 30
---	---	---	---	---	---
	2025			2024
Woori Bank (*)		47,749			38,294
Woori Investment Securities Co., Ltd.		84			—
Woori Asset Trust Co., Ltd.		(372	)		304
Woori Asset Management Corp		—			531
PT Bank Woori Saudara Indonesia 1906 Tbk		(5,584	)		4,368
Wealth Development Bank		(205	)		919
PT Woori Finance Indonesia Tbk.		593			490
(*)	Distribution of the hybrid securities issued by Woori Bank
---	---
3)	Dividends to non-controlling interests
---	---
	For the six-month periods ended June 30
---	---	---	---	---
	2025		2024
Woori Bank (*)		47,749		38,294
PT Bank Woori Saudara Indonesia 1906 Tbk		983		3,450
Others		16		18
(*)	Distribution of the hybrid securities issued by Woori Bank
---	---

- 24 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2.	BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICIES

The accompanying consolidated interim financial statements have been condensed, restructured and translated into English from the Korean language financial statements. The Group’s condensed consolidated interim financial statements are condensed interim financial statements prepared in applying International Financial Reporting Standards as adopted by the Republic of Korea (“K-IFRS”) 1034 Interim Finance Reporting for some of periods in which the annual consolidated financial statements belong. It is necessary to use the Group’s annual consolidated financial statements for the year ended December 31, 2024 for understanding of the accompanying condensed consolidated interim financial statements. The accompanying condensed consolidated interim financial statements contain less information compared to the information required in the annual financial statements. Selective footnotes include explanations of transactions or events that are significant for understanding the changes in the financial position and performance of the Group since the end of the previous annual reporting period.

(1)	From the accounting period beginning on January 1, 2025, the Group has newly applied the following<br>standards and interpretations.

1) Amendments to Korean IFRS 1021 The Effects of Changes in Foreign Exchange Rates and 1101 First-time Adoption of International Financial Reporting Standards – Lack of Exchangeability

When an entity estimates a spot exchange rate because exchangeability between two currencies is lacking, the entity shall disclose related information. The amendments should be applied for annual periods beginning on or after January 1, 2025, and earlier application is permitted. The amendments do not have a significant impact on the financial statements.

(2)	The details of K-IFRSs that have been issued and published since<br>January 1, 2025 but have not yet reached the effective date are as follows:

1) Amendments to Korean IFRS 1109 Financial Instruments, Korean IFRS 1107 Financial Instruments: Disclosures

Korean IFRS 1109 Financial Instruments and Korean IFRS 1107 Financial Instruments: Disclosures have been amended to respond to recent questions arising in practice, and to include new requirements. The amendments should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The Group is in review for the impact of these amendments on the financial statements.

•	clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception<br>for some financial liabilities settled through an electronic cash transfer system;
•	clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal<br>and interest (SPPI) criterion;
---	---
•	add new disclosures of impact on the entity and the extent to which the entity is exposed for each type of<br>financial instruments if the timing or amount of contractual cash flow changes due to amendment of contract term; and
---	---
•	update the disclosures for equity instruments designated at fair value through other comprehensive income<br>(FVOCI).
---	---

- 25 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2) Annual Improvements to Korean IFRS -Volume 11

Annual Improvements to Korean IFRS -Volume 11 should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The Group does not expect the amendments to have a significant impact on the financial statements.

•	Korean IFRS 1101 First-time Adoption of International Financial Reporting Standards: Hedge accounting by a<br>first-time adopter
•	Korean IFRS 1107 Financial Instruments: Disclosures: Gain or loss on derecognition and implementation guidance<br>
---	---
•	Korean IFRS 1109 Financial Instruments: Derecognition of lease liabilities and definition of transaction price<br>
---	---
•	Korean IFRS 1110 Consolidated Financial Statements: Determination of a ‘de facto agent’<br>
---	---
•	Korean IFRS 1007 Statement of Cash Flows: Cost method
---	---
(3)	Material accounting policies and method of computation used in the preparation of the condensed interim<br>financial statements are consistent with those of the annual financial statements for the year ended December 31, 2024, except for the one described below.
---	---
-	Income tax expense
---	---

Income tax expense for the interim period is recognized based on management’s best estimate of the weighted average annual income tax rate expected for the full financial year. The estimated average annual tax rate is applied to the pre-tax income.

- 26 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

3.	MATERIAL ACCOUNTING ESTIMATES AND ASSUMPTIONS

Material accounting estimates and assumptions are continuously evaluated based on a number of factors, including historical experience and expectations of future events that are considered reasonably probable. Accounting estimates calculated based on these definitions may not match actual results.

In preparing interim financial statements, management must apply accounting policies and make judgments, estimates and assumptions that affect assets/liabilities and income/expenses. Therefore, actual results may differ from these estimates.

The significant judgments made by management in applying the accounting policies and key sources of estimation uncertainty for the preparation of interim financial statements are consistent with those made for the annual consolidated financial statements for the year ended December 31, 2024, except for the estimation method used to determine income tax expense.

- 27 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

4.	RISK MANAGEMENT

The Group is exposed to various risks that may arise from its operating activities and the main types of risks are credit risk, market risk, liquidity risk and etc. The Risk Management Organization analyzes and assesses the level of complex risks in order to manage the risks and the risk management standards such as policies, regulations, management systems and decision-making have been established and operated for sound management of the Group.

The risk management organization is operated by Risk Management Committee, Chief Risk Officer(CRO), and Risk Management Department. The Board of Directors operates a Risk Management Committee comprised of outside directors for professional risk management. The Risk Management Committee plays a role as the top decision-making body in risk management by establishing basic policies for risk management that are in line with the Group’s management strategy and determining the risk level that the Group is willing to take.

The Chief Risk Officer (CRO) assists the Risk Management Committee and operates a Group Risk Management Council comprised of risk management managers of subsidiaries to periodically check and improve the risk burden of external environments and the Group. The risk management department is independent and is in charge of risk management of the Group. It also supports reporting and decision-making of key risk-related issues.

(1)	Credit risk

Credit risk represents the possibility of financial losses incurred due to the refusal of the transaction or when the counterparty fails to fulfill its contractual obligations. The goal of credit risk management is to maintain the Group’s credit risk exposure to a permissible degree and to optimize its rate of return considering such credit risk.

1)	Credit risk management

To measure credit risk, the Group considers the possibility of failure in performing the obligation by the counterparties, credit exposure to the counterparty, the related default risk and the rate of default loss. The Group uses the credit rating model to assess the possibility of counterparty’s default risk; and when assessing the obligor’s credit rating, other than quantitative methods utilizing financial statements and others, and assessor’s judgement, the Group utilizes credit rating derived using statistical methods.

In order to manage credit risk limit, the Group establishes the appropriate credit line per obligor, company or industry by monitoring obligor’s credit line, total exposures and loan portfolios when approving the loan.

- 28 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2)	Measurement of expected credit loss

K-IFRS 1109 requires entities to measure loss allowance equal to 12-month expected credit losses or lifetime expected credit losses after classifying financial assets into one of the three stages, depending on the degree of increase in credit risk since their initial recognition.

Classification	Stage 1	Stage 2	Stage 3
Definition	No significant increase in credit risk after initial recognition (*)	Significant increase in credit risk after initial recognition	Credit-impaired
Loss allowance	12-month expected credit losses	Lifetime expected credit losses
	Expected credit losses that result from those default events on the financial instrument that are possible within 12 months after the reporting date	Expected credit losses that result from all possible default events over the life of the financial instrument
(*)	If the financial instrument has low credit risk at the end of the reporting period, the Group may assume that<br>the credit risk has not increased significantly since initial recognition.
---	---

At the end of each reporting period the Group assesses whether credit risk has significantly been increased since the date of initial recognition. The Group assesses whether the credit risk has increased significantly since initial recognition by using credit rating, asset quality level, early warning system, days past due and others. For financial assets whose contractual cash flows have been modified, the Group assesses whether there is a significant increase in credit risk on the same basis.

The Group performs the below assessment to both corporate and retail exposures, and indicators of significant increase in credit risk are as follows:

Corporate Exposures	Retail Exposures
Asset quality level ‘Precautionary’ or lower	Asset quality level ‘Precautionary’ or lower
More than 30 days past due	More than 30 days past due
‘Warning’ level in early warning system	Significant decrease in credit rating(*)
Debtor experiencing financial difficulties<br>(Capital impairment, Adverse opinion or Disclaimer<br>of opinion by external auditors)	Deferment of repayment of principal and interest
Significant decrease in credit rating (*)	Deferment of interest
Deferment of repayment of principal and interest	—
Deferment of interest	—
(*)	The Group has applied the below indicators of significant decrease in credit rating since initial recognition<br>as follows, and the estimation method is regularly being monitored.
---	---
	Credit rating	Significant increased indicator of the credit rating
---	---	---
Corporate	AAA ~ A+	More than or equal to 4 steps
	A- ~ BBB	More than or equal to 3 steps
	BBB- ~ BB+	More than or equal to 2 steps
	BB ~ BB-	More than or equal to 1 step
Retail	1 ~ 3	More than or equal to 3 steps
	4 ~ 5	More than or equal to 2 steps
	6 ~ 9	More than or equal to 1 step
(*)	The Group determined that there is no significant increase in credit risk after initial recognition for debt<br>securities, etc. with a credit rating of A + or higher, which are deemed to have low credit risk at the end of the reporting period.
---	---

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

The Group concludes that credit is impaired when financial assets are under conditions stated below:

-	When principal and interest of loan is overdue for 90 days or longer due to significant deterioration in credit<br>
-	For loans overdue for less than 90 days, when it is determined that not even a portion of the loan will be<br>recovered unless claim actions such as disposal of collaterals are taken
---	---
-	When other objective indicators of impairment have been noted for the financial asset.
---	---

The Group also incorporates forward looking into the estimates of default rates and loss given default. Considering the potential for latent insolvency due to increased internal and external economic uncertainties, the Group adjusts the forward looking to additionally recognize expected credit loss allowance.

The Group has estimated the expected credit loss allowance using an estimation model that additionally reflects the forward-looking information based on the past experience loss rate data.

Loss allowance is calculated by applying PD (Probability of Default) and LGD (Loss Given Default) estimated for each financial asset in consideration of factors such as obligor type, credit rating and portfolio. The estimates are regularly being reviewed in order to reduce discrepancies with actual losses.

In measuring the expected credit losses, the Group is also using reasonable and supportable macroeconomic variables such as gross domestic product (real, original series) growth rate, average operating rate in manufacturing, apartment sales price index (KB, Seoul) and unemployment rate (original series) in order to forecast future economic conditions.

The Group applies a future economic situation estimation model, and the results are reviewed regularly.

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

3)	Maximum exposure

The Group’s maximum exposure to credit risk shows the uncertainties related to the maximum possible variation of financial assets’ net value as a result of changes in the specific risk factors, prior to the consideration of collaterals that are recorded at net carrying amount after allowances and other credit enhancements. However, the maximum exposure is the fair value amount (recorded on the books) for derivatives, maximum contractual obligation for payment guarantees and unused amount of commitments for loan commitment.

The maximum exposure to credit risk as of June 30, 2025 and December, 31, 2024 is as follows (Unit: Korean Won in millions):


Loans and other financial assets at amortized cost	Korean treasury and government agencies	957,112	229,126
	Banks	41,603,121	23,593,313
	Corporates	175,225,482	179,986,851
	Consumers	195,667,046	194,662,526
	Sub-total	413,452,761	398,471,816
Financial assets at FVTPL (*1)	Deposits	116,957	73,951
	Debt securities	7,232,883	6,801,288
	Loans	267,949	104,177
	Derivative assets	4,536,949	10,094,532
	Others	2,718	2,671
	Sub-total	12,157,456	17,076,619
Financial assets at FVTOCI	Debt securities and others	38,511,933	42,922,671
Securities at amortized cost	Debt securities	18,762,707	19,203,177
Derivative assets	Derivative assets (Designated for hedging)	121,375	175,191
Off-balance accounts	Payment guarantees (*2)	16,049,582	16,611,262
	Loan commitments	130,882,088	133,863,588
	Sub-total	146,931,670	150,474,850
	Total	629,937,902	628,324,324
(*1)	Puttable financial instruments are not included.
---	---
(*2)	As of June 30, 2025 and December 31, 2024, the financial guarantee amount of 4,464,989 million<br>Won and 4,156,790 million Won are included, respectively.
---	---

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

a) Credit risk exposure by geographical areas

The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions):

	June 30, 2025
	Korea		China		USA		UK		Japan		Others (*)		Total
Loans and other financial assets at amortized cost		384,840,238		5,690,870		6,279,752		612,538		875,080		15,154,283		413,452,761
Securities at amortized cost		17,550,113		253,594		760,017		—		—		198,983		18,762,707
Financial assets at FVTPL		10,269,169		1,715		716,576		325,194		146,255		698,547		12,157,456
Financial assets at FVTOCI		34,211,149		644,939		2,376,508		272,245		—		1,007,092		38,511,933
Derivative assets (Designated for hedging)		92,318		—		23,118		—		5,939		—		121,375
Off-balance accounts		140,424,984		894,898		1,415,058		275,359		22,121		3,899,250		146,931,670
Total		587,387,971		7,486,016		11,571,029		1,485,336		1,049,395		20,958,155		629,937,902
(*)	Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries.<br>
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Korea		China		USA		UK		Japan		Others (*)		Total
Loans and other financial assets at amortized cost		367,026,768		5,784,272		7,108,462		584,060		850,872		17,117,382		398,471,816
Securities at amortized cost		18,052,871		197,188		712,761		—		—		240,357		19,203,177
Financial assets at FVTPL		12,643,738		88		1,824,414		553,842		430,341		1,624,196		17,076,619
Financial assets at FVTOCI		37,746,319		589,277		3,157,655		190,801		22,112		1,216,507		42,922,671
Derivative assets (Designated for hedging)		165,089		—		3,216		—		6,886		—		175,191
Off-balance accounts		144,006,247		1,213,479		1,805,060		87,755		20,758		3,341,551		150,474,850
Total		579,641,032		7,784,304		14,611,568		1,416,458		1,330,969		23,539,993		628,324,324
(*)	Others consist of financial assets in Indonesia, Hong Kong, Germany, Australia, and other countries.<br>
---	---

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

b) Credit risk exposure by industries

The following tables analyze credit risk exposure by industries, which are service, manufacturing, finance and insurance, construction, individuals and others in accordance with the Korea Standard Industrial Classification Code as of June 30, 2025 and December 31, 2024 (Unit: Korean Won in millions):

	June 30, 2025
	Service		Manufacturing		Finance and<br>insurance		Construction		Individuals		Others		Total
Loans and other financial assets at amortized cost		88,817,572		49,069,083		53,573,714		5,611,016		192,097,280		24,284,096		413,452,761
Securities at amortized cost		149,470		—		8,727,809		49,930		—		9,835,498		18,762,707
Financial assets at FVTPL		368,671		329,188		5,463,266		50,748		295		5,945,288		12,157,456
Financial assets at FVTOCI		287,142		407,778		25,319,424		172,556		—		12,325,033		38,511,933
Derivative assets (Designated for hedging)		—		—		121,375		—		—		—		121,375
Off-balance accounts		21,434,252		27,366,618		13,315,389		3,274,123		73,989,596		7,551,692		146,931,670
Total		111,057,107		77,172,667		106,520,977		9,158,373		266,087,171		59,941,607		629,937,902
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Service		Manufacturing		Finance and<br>insurance		Construction		Individuals		Others		Total
Loans and other financial assets at amortized cost		92,018,694		47,835,603		33,986,585		6,219,603		190,902,940		27,508,391		398,471,816
Securities at amortized cost		169,352		—		10,248,257		59,866		—		8,725,702		19,203,177
Financial assets at FVTPL		287,401		539,092		10,833,850		31,527		123,339		5,261,410		17,076,619
Financial assets at FVTOCI		331,590		474,837		29,935,898		194,940		—		11,985,406		42,922,671
Derivative assets (Designated for hedging)		—		—		175,191		—		—		—		175,191
Off-balance accounts		22,460,440		28,514,078		14,147,757		3,192,714		73,212,057		8,947,804		150,474,850
Total		115,267,477		77,363,610		99,327,538		9,698,650		264,238,336		62,428,713		628,324,324

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

4)	Credit risk exposure
a)	Financial assets
---	---

The maximum exposure to credit risk by asset quality, except for financial assets at FVTPL and derivative asset (designated for hedging) as of June 30, 2025 and December 31, 2024 is as follows (Unit: Korean Won in millions):

	June 30, 2025
	Stage 1				Stage 2
	Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited credit<br>rating<br>(*2)		Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited credit<br>rating<br>(*2)		Stage 3		Credit<br>impairment<br>model		Total		Loss<br>allowance			Total, net
Loans and other financial assets at amortized cost		357,279,396		27,962,727		13,035,782		14,087,289		3,666,033		1,126,034		417,157,261		(3,704,500	)		413,452,761
Korean treasury and government agencies		957,597		21		—		—		—		—		957,618		(506	)		957,112
Banks		41,564,266		10,368		4,947		—		45,521		—		41,625,102		(21,981	)		41,603,121
Corporates		144,981,601		20,636,258		2,796,157		5,997,923		2,040,803		1,126,034		177,578,776		(2,353,294	)		175,225,482
General business		100,394,657		11,836,571		2,111,726		4,176,995		1,278,581		—		119,798,530		(1,588,176	)		118,210,354
Small- and medium-sized enterprise		33,876,986		7,912,936		605,124		1,565,124		458,575		—		44,418,745		(508,578	)		43,910,167
Project financing and others		10,709,958		886,751		79,307		255,804		303,647		1,126,034		13,361,501		(256,540	)		13,104,961
Consumers		169,775,932		7,316,080		10,234,678		8,089,366		1,579,709		—		196,995,765		(1,328,719	)		195,667,046
Securities at amortized cost		18,773,180		—		—		—		—		—		18,773,180		(10,473	)		18,762,707
Financial assets at FVTOCI (*3)		38,359,616		152,317		—		—		—		—		38,511,933		(25,522	)		38,511,933
Total		414,412,192		28,115,044		13,035,782		14,087,289		3,666,033		1,126,034		474,442,374		(3,740,495	)		470,727,401
	June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Collateral value
	Stage1		Stage2		Stage3		Credit impairment<br>model		Total
Loans and other financial assets at amortized cost		238,589,245		22,793,457		1,250,709		1,109,747		263,743,158
Korean treasury and government agencies		50,643		—		—		—		50,643
Banks		2,319,577		—		—		—		2,319,577
Corporates		97,393,437		7,136,393		763,947		1,109,747		106,403,524
General business		59,249,159		5,417,949		518,883		—		65,185,991
Small- and medium-sized enterprise		30,149,494		1,476,529		169,423		—		31,795,446
Project financing and others		7,994,784		241,915		75,641		1,109,747		9,422,087
Consumers		138,825,588		15,657,064		486,762		—		154,969,414
Securities at amortized cost		—		—		—		—		—
Financial assets at FVTOCI (*3)		—		—		—		—		—
Total		238,589,245		22,793,457		1,250,709		1,109,747		263,743,158
(*1)	Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6.
---	---
(*2)	Credit grade of corporates are BBB- ~ C, and consumers are grades 7 ~<br>10.
---	---
(*3)	Financial assets at FVTOCI have been disclosed as the amount before deducting loss allowance because loss<br>allowance does not reduce the carrying amount.
---	---

- 34 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	December 31, 2024
	Stage 1				Stage 2
	Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited credit<br>rating<br>(*2)		Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited credit<br>rating<br>(*2)		Stage 3		Credit<br>impairment<br>model		Total		Loss<br>allowance			Total, net
Loans and other financial assets at amortized cost		343,186,708		27,086,126		13,280,849		14,344,066		3,003,886		1,147,147		402,048,782		(3,576,966	)		398,471,816
Korean treasury and government agencies		229,733		22		—		—		—		—		229,755		(629	)		229,126
Banks		23,375,096		115,721		88,306		—		36,143		—		23,615,266		(21,953	)		23,593,313
Corporates		150,732,338		19,561,385		3,130,814		6,264,461		1,416,152		1,147,147		182,252,297		(2,265,446	)		179,986,851
General business		103,495,951		11,071,283		2,507,705		4,093,868		807,545		—		121,976,352		(1,409,387	)		120,566,965
Small- and medium-sized enterprise		35,450,353		7,731,142		500,934		1,870,087		357,881		—		45,910,397		(586,059	)		45,324,338
Project financing and others		11,786,034		758,960		122,175		300,506		250,726		1,147,147		14,365,548		(270,000	)		14,095,548
Consumers		168,849,541		7,408,998		10,061,729		8,079,605		1,551,591		—		195,951,464		(1,288,938	)		194,662,526
Securities at amortized cost		19,213,940		—		—		—		—		—		19,213,940		(10,763	)		19,203,177
Financial assets at FVTOCI (*3)		42,766,477		156,194		—		—		—		—		42,922,671		(29,084	)		42,922,671
Total		405,167,125		27,242,320		13,280,849		14,344,066		3,003,886		1,147,147		464,185,393		(3,616,813	)		460,597,664
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
	Collateral value
	Stage1		Stage2		Stage3		Credit impairment<br>model		Total
Loans and other financial assets at amortized cost		241,378,580		22,815,602		1,070,209		1,137,097		266,401,488
Korean treasury and government agencies		55,775		—		—		—		55,775
Banks		2,474,302		—		—		—		2,474,302
Corporates		101,666,963		7,536,068		645,842		1,137,097		110,985,970
General business		59,099,372		5,578,709		328,802		—		65,006,883
Small- and medium-sized enterprise		34,401,736		1,729,820		243,513		—		36,375,069
Project financing and others		8,165,855		227,539		73,527		1,137,097		9,604,018
Consumers		137,181,540		15,279,534		424,367		—		152,885,441
Securities at amortized cost		—		—		—		—		—
Financial assets at FVTOCI (*3)		—		—		—		—		—
Total		241,378,580		22,815,602		1,070,209		1,137,097		266,401,488
(*1)	Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6.
---	---
(*2)	Credit grade of corporates are BBB- ~ C, and consumers are grades 7 ~<br>10.
---	---
(*3)	Financial assets at FVTOCI have been disclosed as the amount before deducting loss allowance because loss<br>allowance does not reduce the carrying amount.
---	---

- 35 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

b)	Payment Guarantees and commitments

The credit quality of the payment guarantees and loan commitments as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korean Won in millions):

	June 30, 2025
Financial assets	Stage 1				Stage 2				Stage3		Total
	Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited credit<br>rating<br>(*2)		Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited<br>credit rating<br>(*2)
Off-balance accounts:
Payment Guarantees		15,162,279		795,684		21,466		55,295		14,858		16,049,582
Loan Commitments		123,841,076		3,671,187		2,792,768		553,555		23,502		130,882,088
Total		139,003,355		4,466,871		2,814,234		608,850		38,360		146,931,670
(*1)	Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6.
---	---
(*2)	Credit grade of corporate are BBB- ~ C, and consumers are grades 7 ~<br>10.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Financial assets	Stage 1				Stage 2				Stage3		Total
	Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited credit<br>rating<br>(*2)		Above<br>appropriate<br>credit rating<br>(*1)		Less than a<br>limited<br>credit rating<br>(*2)
Off-balance accounts:
Payment guarantees		15,679,374		808,182		41,866		59,688		22,152		16,611,262
Loan commitments		127,622,889		3,402,602		2,298,056		502,070		37,971		133,863,588
Total		143,302,263		4,210,784		2,339,922		561,758		60,123		150,474,850
(*1)	Credit grade of corporates are AAA ~ BBB, and consumers are grades 1 ~ 6.
---	---
(*2)	Credit grade of corporate are BBB- ~ C, and consumers are grades 7 ~<br>10.
---	---
5)	Collateral and other credit enhancements
---	---

For the six-month period ended June 30, 2025, there have been no significant changes in the value of collateral or other credit enhancements held by the Group and there have been no significant changes in collateral or other credit enhancements due to changes in the collateral policy of the Group.

- 36 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Market risk

Market risk is the possible risk of loss arising from trading position and non-trading position as a result of the volatility of market factors such as interest rates, stock prices and foreign exchange rates.

1)	Market risk management

Market risk management refers to the process of making and implementing decisions for the avoidance, acceptance or mitigation of risks by identifying the underlying source of the risks, measuring its level, and evaluating the appropriateness of the level of accepted market risks for both trading and non-trading activities.

a)	Trading activities

The Group uses the standard approach and internal model approach (Woori Bank) in measuring market risk for trading positions, and allocates market risk capital through the Board Risk Management Committee. Risk management departments of the Group and its subsidiaries manage limits in detail including those on risk and loss with their management result regularly reported to the Board Risk Management Committee.

Subsidiaries such as Woori Bank manage market internal capital limits using the Basel III standard approach, and other subsidiaries manage market risks by applying the simple method.

The Basel III standard approach consists of a sensitivity method that measures linear and nonlinear losses that may occur due to unfavorable fluctuations in market risk factors, bankruptcy risks that may occur due to sudden bankruptcy, and residual risk-bearing equity capital for other losses.

b) Non-trading activities

From the end of 2019 for the Bank and the beginning of 2021 for non-banking subsidiaries, the Bank and its subsidiaries manage and measure interest risk for non-trading activities through ΔNII(Change in Net Interest Income) and ΔEVE(Change in Economic Value of Equity) in accordance with IRRBB(Interest Rate Risk in the Banking Book).

ΔNII represents a change in net interest income that may occur over a certain period (e.g. one year) due to changes in interest rates, and ΔEVE indicates the economic value changes in equity capital that could be caused by changes in interest rates affecting the present value of asset, liabilities, and off-balance accounts.

- 37 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Liquidity risk

Liquidity risk refers to the risk that the Group may encounter difficulties in meeting obligations from its financial liabilities.

1)	Liquidity risk management

Liquidity risk management is to prevent potential cash shortages as a result of mismatching maturity of assets and liabilities or unexpected cash outflows. The consolidated financial liabilities that are relevant to liquidity risk are incorporated within the scope of risk management.

Assets and liabilities are grouped by account under Asset Liability Management (“ALM”) in accordance with the characteristics of the account. The Group manages liquidity risk by identifying the maturity gap and such gap ratio through various cash flows analysis (i.e. based on remaining maturity and contract period, etc.), while maintaining the gap ratio at or below the target limit.

The information on early repayment related to asset securitization is described in Note 33. Contingent Liabilities and Commitments (4) 3).

2)	Maturity analysis of non-derivative financial liabilities<br>

Cash flows of principals and interests by remaining contractual maturities of non-derivative financial liabilities as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korean Won in millions):

	June 30, 2025
	Within 3<br>months		4 to 6<br>months		7 to 9<br>months		10 to 12<br>months		1 to 5<br>years		Over<br>5 years		Total
Financial liabilities at FVTPL		124,325		19,537		145,404		150,563		416,267		32,456		888,552
Deposits due to customers		244,365,599		53,970,636		32,712,264		26,895,591		15,745,088		1,275,526		374,964,704
Borrowings		16,017,943		4,906,888		3,495,922		3,250,032		3,961,993		579,622		32,212,400
Debentures		4,803,273		3,693,527		5,637,172		3,474,213		32,462,072		2,604,156		52,674,413
Lease liabilities		56,288		49,771		72,182		37,782		296,296		33,510		545,829
Other financial liabilities (*)		28,072,035		129,156		48,470		39,196		1,206,699		4,196,950		33,692,506
Total		293,439,463		62,769,515		42,111,414		33,847,377		54,088,415		8,722,220		494,978,404
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Within 3<br>months		4 to 6<br>months		7 to 9<br>months		10 to 12<br>months		1 to 5<br>years		Over<br>5 years		Total
Financial liabilities at FVTPL		74,205		—		69,534		112,944		—		—		256,683
Deposits due to customers		237,078,927		41,568,072		33,229,547		43,680,907		16,991,574		1,441,654		373,990,681
Borrowings		11,589,854		6,676,926		4,781,377		3,676,310		3,561,696		563,870		30,850,033
Debentures		4,635,557		5,525,191		4,442,376		3,572,533		30,967,974		2,673,592		51,817,223
Lease liabilities		60,099		49,069		45,534		40,375		317,971		50,341		563,389
Other financial liabilities (*)		19,417,326		108,361		30,995		27,093		1,118,751		4,287,489		24,990,015
Total		272,855,968		53,927,619		42,599,363		51,110,162		52,957,966		9,016,946		482,468,024
(*)	Lease liabilities are not included.
---	---

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

3)	Maturity analysis of derivative financial liabilities

Derivatives held for trading purpose are not managed in accordance with their contractual maturity, since the Group holds such financial instruments with the purpose of disposing or redemption before their maturity. As such, those derivatives are incorporated as “within 3 months” in the table below. Derivatives designated for hedging purpose are estimated by offsetting cash inflows and cash outflows.

The cash flow by the maturity of derivative financial liabilities as of June 30, 2025 and December 31, 2024 is as follows (Unit: Korean Won in millions):

		Remaining maturity
		Within 3<br>months			4 to 6<br>months			7 to 9<br>months			10 to 12<br>months			1 to 5<br>years		Over 5<br>years			Total
June 30, 2025	Cash flow risk hedge		(3,207	)		(1,624	)		(2,364	)		(1,210	)		11,794		—			3,389
	Fair value risk hedge		5,303			25,215			3,185			9,904			3,313		(10,609	)		36,311
	Trading purpose		4,251,096			—			—			—			—		—			4,251,096
December 31, 2024	Cash flow risk hedge		(219	)		193			31			62			207		—			274
	Fair value risk hedge		(6,816	)		46,231			(11,740	)		44,950			35,764		(5,834	)		102,555
	Trading purpose		9,092,098			—			—			—			—		—			9,092,098

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

4)	Maturity analysis of off-balance accounts (Payment guarantees,<br>commitments, and etc.)

A financial guarantee represents an irrevocable undertaking that the Group should meet a customer’s obligations to third parties if the customer fails to do so. The loan commitment represents the limit if the Group has promised a credit to the customer. Loan commitments include commercial standby facilities and credit lines, liquidity facilities to commercial paper conduits and utilized overdraft facilities. The maximum limit to be paid by the Group in accordance with guarantees and loan commitment only applies to principal amounts. There are contractual maturities for payment guarantees, such as financial guarantees for debentures issued or loans, unused loan commitments, and other credits, however, under the terms of the guarantees and unused loan commitments, funds should be paid upon demand from the counterparty. Details of off-balance accounts as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korean Won in millions):

	June 30, 2025
Payment guarantees		16,049,582	16,611,262
Loan commitments		130,882,088	133,863,588
Other commitments		4,581,824	4,572,323
(4)	Operational risk
---	---

The Group defines the operational risk that could cause a negative effect on capital resulting from inadequate internal process, labor work and systematic problem or external factors.

1)	Operational risk management

The Group has established and operated a group operational risk management system to cope with new Basel III global regulations, which is implemented since 2023, and the management of operational risks follows the procedures for risk recognition, evaluation, measurement, monitoring and reporting, risk control and mitigation.

2)	Operational risk measurement

The Group measures operational risk capital using the Basel III standardized approach. This approach calculates the required operational risk capital by multiplying the Business Indicator Component (BIC), which represents the scale of operations, with the Internal Loss Multiplier (ILM), which reflects the magnitude of actual historical internal losses relative to the scale of operations.

Operational risk limits are set with the approval of the Board Risk Management Committee. The Group regularly calculates the operational risk capital and reports any limit breaches to the management and the Board Risk Management Committee.

Since a reduction in the size of internal loss events leads to a decrease in operational risk capital, it is important to prevent loss events in advance. Accordingly, the Group conducts operational risk management activities using tools such as Risk Control Self-Assessment (RCSA), Key Risk Indicators (KRI), and loss data. Additionally, to ensure continuity of operations in emergency situations such as disasters, the Bank has established a Business Continuity Plan (BCP) and conducts annual simulation drills.

- 40 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

5.	OPERATING SEGMENTS

In evaluating the results of the Group and allocating resources, the Group’s Chief Operation Decision Maker (“CODM”) utilizes the method of disclosing the financial information of the segments based on the organization of the Group. This financial information of the segments in this note is regularly reviewed by the CODM.

(1)	Segment by type of organization

The Group’s reporting segments consist of banking, credit card, capital, comprehensive finance and other sectors, and the composition of such reporting segments was divided based on internal report data periodically reviewed by the management to evaluate the performance of the segment and make decisions on the resources to be distributed.

	Operational scope
Banking	Loans/deposits and relevant services for customers of Woori Bank
Credit card	Credit card, cash services, card loans and accompanying business of Woori Card Co., Ltd.
Capital	Installments, loans including lease financing, and accompanying business of Woori Financial Capital Co., Ltd.
Investment securities	Securities operation, sale of financial instruments, project financing and other related activities for investment securities of Woori Investment Securities Co., Ltd.
Others	Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori Asset Management Corp., Ltd., Woori Financial F&I Co., Ltd., Woori Savings Bank., Woori Credit Information Co., Ltd., Woori Fund Services Co., Ltd., Woori Private<br>Equity Asset Management Co., Ltd., Woori FIS Co., Ltd. and Woori Finance Research Institute, Woori Venture Partners Co., Ltd.

- 41 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	The composition of each organization’s sectors for the six-month periods ended June 30, 2025 and 2024 are<br>as follows (Unit: Korean Won in millions):
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Banking(*1)			Credit card			Capital			Investment<br>securities			Others (*2)			Sub-total			Other<br>adjustments<br>(*3)			Internal<br>adjustments<br>(*4)			Consolidated<br>Adjustments<br>(*5)			Total
Net interest income		3,344,244			372,330			105,303			52,812			45,222			3,919,911			75,733			518,610			(446	)		4,513,808
Non-interest income (expense)		1,167,531			100,001			92,056			39,642			1,575,986			2,975,216			(6,007	)		(469,732	)		(1,613,175	)		886,302
Impairment losses due to credit loss		(493,562	)		(208,299	)		(59,859	)		(15,531	)		(119,563	)		(896,814	)		2,516			(49,023	)		11			(943,310	)
General and administrative expense		(2,101,559	)		(146,299	)		(48,910	)		(62,107	)		(214,539	)		(2,573,414	)		(316	)		—			94,644			(2,479,086	)
Net operating income (expense)		1,916,654			117,733			88,590			14,816			1,287,106			3,424,899			71,926			(145	)		(1,518,966	)		1,977,714
Share of gain of associates		14,593			—			(281	)		86			50,201			64,599			1,697			—			5,392			71,688
Other non-operating expense		18,770			(15,105	)		63			60			1,474			5,262			929			145			(4,658	)		1,678
Non-operating income (expense)		33,363			(15,105	)		(218	)		146			51,675			69,861			2,626			145			734			73,366
Net income (expense) before tax		1,950,017			102,628			88,372			14,962			1,338,781			3,494,760			74,552			—			(1,518,232	)		2,051,080
Tax expense		(398,096	)		(25,975	)		(21,021	)		2,181			(15,500	)		(458,411	)		—			—			1,630			(456,781	)
Net income (loss)		1,551,921			76,653			67,351			17,143			1,323,281			3,036,349			74,552			—			(1,516,602	)		1,594,299
Total assets		494,291,954			15,950,697			12,497,825			8,577,865			31,898,314			563,216,655			3,545,934			—			(32,649,813	)		534,112,776
Investment in associate		1,056,906			—			32,602			3,138			24,536,539			25,629,185			4,416			—			(23,857,237	)		1,776,364
Other assets		493,235,048			15,950,697			12,465,223			8,574,727			7,361,775			537,587,470			3,541,518			—			(8,792,576	)		532,336,412
Total liabilities		465,742,436			13,145,609			10,738,266			7,398,438			5,890,561			502,915,310			71,928			—			(4,589,980	)		498,397,258
(*1)	The banking sector includes banks and their consolidated subsidiaries (such as overseas subsidiaries).<br>
---	---
(*2)	Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori<br>Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori FIS Co., Ltd., Woori Finance Research Institute<br>and Woori Venture Partners Co., Ltd.
---	---
(*3)	Other segments include the funds subject to Group’s consolidation not included in the reporting segment.<br>
---	---
(*4)	Internal reconciliation includes the adjustment of deposit insurance premiums of 256,582 million Won and<br>fund contribution fees of 262,256 million Won from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance<br>with management accounting standards as profit and loss in accordance with accounting standards.
---	---
(*5)	Consolidation adjustments include the elimination of 68,660 million Won of internal transactions between<br>Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of 1,435,418 million Won of dividends received by the holding company from its subsidiaries.
---	---

- 42 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Banking(*1)			Credit card			Capital			Investment<br>securities			Others (*2)			Sub-total			Other<br>adjustments<br>(*3)			Internal<br>adjustments<br>(*4)			Consolidated<br>Adjustments<br>(*5)			Total
Net interest income		3,253,705			335,018			123,355			59,052			58,929			3,830,059			58,989			507,964			(1,913	)		4,395,099
Non-interest income (expense)		1,016,000			85,129			65,238			23,999			1,407,518			2,597,884			57,799			(329,335	)		(1,440,959	)		885,389
Impairment losses due to credit loss		(273,762	)		(168,515	)		(38,943	)		(50,072	)		(65,751	)		(597,043	)		—			(178,993	)		544			(775,492	)
General and administrative expense		(1,761,374	)		(141,517	)		(44,429	)		(27,855	)		(218,004	)		(2,193,179	)		(625	)		—			92,817			(2,100,987	)
Net operating income (expense)		2,234,569			110,115			105,221			5,124			1,182,692			3,637,721			116,163			(364	)		(1,349,511	)		2,404,009
Share of gain of associates		24,387			—			(725	)		117			(3,393	)		20,386			(31	)		—			19,276			39,631
Other non-operating expense		(48,218	)		(2,156	)		(39	)		(278	)		13,401			(37,290	)		1,943			364			(17,798	)		(52,781	)
Non-operating income (expense)		(23,831	)		(2,156	)		(764	)		(161	)		10,008			(16,904	)		1,912			364			1,478			(13,150	)
Net income (expense) before tax		2,210,738			107,959			104,457			4,963			1,192,700			3,620,817			118,075			—			(1,348,033	)		2,390,859
Tax expense		(531,922	)		(23,660	)		(24,603	)		(1,141	)		(11,676	)		(593,002	)		—			—			2,563			(590,439	)
Net income (loss)		1,678,816			84,299			79,854			3,822			1,181,024			3,027,815			118,075			—			(1,345,470	)		1,800,420
Total assets		468,915,086			16,571,401			12,564,864			6,676,326			31,338,220			536,065,897			3,272,162			—			(30,556,894	)		508,781,165
Investment in associate		1,033,906			—			33,988			4,538			24,324,264			25,396,696			24,180			—			(23,521,595	)		1,899,281
Other assets		467,881,180			16,571,401			12,530,876			6,671,788			7,013,956			510,669,201			3,247,982			—			(7,035,299	)		506,881,884
Total liabilities		441,651,445			13,852,526			10,894,300			5,566,870			4,465,747			476,430,888			115,984			—			(2,913,321	)		473,633,551
(*1)	The banking sector includes banks and their consolidated subsidiaries(such as overseas subsidiaries).<br>
---	---
(*2)	Other segments include gains and losses from Woori Financial Group Inc., Woori Asset Trust Co., Ltd., Woori<br>Savings Bank, Woori Asset Management Corp., Woori Financial F&I Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Service Co., Ltd., Woori Private Equity Asset Management Co., Ltd., Woori FIS Co., Ltd., Woori Finance Research Institute<br>and Woori Venture Partners Co., Ltd.
---	---
(*3)	Other segments include the funds subject to Group’s consolidation not included in the reporting segment.<br>
---	---
(*4)	Internal reconciliation includes the adjustment of deposit insurance premiums of 247,185 million Won and<br>fund contribution fees of 261,000 million Won from net interest income expenses to non-interest income expenses in order to present the profit and loss adjustment between reporting divisions in accordance<br>with management accounting standards as profit and loss in accordance with accounting standards.
---	---
(*5)	Consolidation adjustments include the elimination of 90,726 million Won of internal transactions between<br>Woori FIS Co., Ltd., the group’s IT service agency, and affiliates, and the removal of 1,195,721 million Won of dividends received by the holding company from its subsidiaries.
---	---

- 43 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Operating profit or loss from external customers for the six-month periods ended June 30, 2025 and 2024 are as<br>follows (Unit: Korean Won in millions):
	For the six-month periods ended June 30
---	---	---	---	---
Details	2025		2024
Domestic		1,827,766		2,162,080
Foreign		149,948		241,929
Total		1,977,714		2,404,009
(4)	Major non-current assets as of June 30, 2025 and December 31,<br>2024 are as follows (Unit: Korean Won in millions):
---	---
Details (*)	June 30, 2025		December 31, 2024
---	---	---	---	---
Domestic		6,016,078		6,068,817
Foreign		547,449		592,768
Total		6,563,527		6,661,585
(*)	Major non-current assets included joint ventures and related business<br>investments, investment properties, Premises and equipment, and intangible assets.
---	---
(5)	Information about major customers
---	---

The Group does not have any single customer that generates 10% or more of the Group’s total revenue for the six-month periods ended June 30, 2025 and 2024.

- 44 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

6.	STATEMENTS OF CASH FLOWS
(1)	Details of cash and cash equivalents are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Cash		1,635,658		1,661,517
Foreign currencies		651,157		812,026
Demand deposits		27,617,552		24,634,075
Fixed deposits		104,132		173,505
Total		30,008,499		27,281,123
(2)	Details of restricted cash and cash equivalents are as follows (Unit: Korean Won in millions)<br>
---	---
	Counterparty	June 30, 2025		Reason of restriction
---	---	---	---	---
Due from banks in local currency:
Due from BOK	BOK		12,483,501	Reserve deposits under the BOK Act
Due from banks in foreign currencies:
Due from banks on demand	BOK and others		4,367,885	Reserve deposits etc.
Total			16,851,386
	Counterparty	December 31, 2024		Reason of restriction
---	---	---	---	---
Due from banks in local currency:
Due from BOK	BOK		9,712,194	Reserve deposits under the BOK Act
Due from banks in foreign currencies:
Due from banks on demand	BOK and others		2,954,868	Reserve deposits etc.
Total			12,667,062

- 45 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

7.	FINANCIAL ASSETS AT FVTPL
(1)	Details of financial assets at FVTPL as of June 30, 2025 and December 31, 2024 are as follows (Unit:<br>Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Financial assets at fair value through profit or loss		20,919,935		25,202,672
(2)	Financial assets at fair value through profit or loss as of June 30, 2025 and December 31, 2024 are<br>as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Deposits:
Gold banking asset		116,957		73,951
Securities:
Debt securities
Korean treasury and government agencies		5,541,493		5,053,592
Financial institutions		899,112		1,193,809
Corporates		499,902		348,929
Securities loaned		78,951		12,361
Others		213,425		192,597
Equity securities		435,746		421,313
Capital contributions		2,909,633		2,857,698
Beneficiary certificates		5,105,891		4,563,102
Others		233,358		236,595
Sub-total		15,917,511		14,879,996
Loans		267,949		104,177
Derivatives assets		4,536,949		10,094,532
Other financial assets		80,569		50,016
Total		20,919,935		25,202,672

The Group does not have financial assets at fair value through profit or loss designated as upon initial recognition as of June 30, 2025 and December 31, 2024.

- 46 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

8.	FINANCIAL ASSETS AT FVTOCI
(1)	Details of financial assets at FVTOCI as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korean<br>Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Debt securities:
Korean treasury and government agencies		8,950,614		7,787,052
Financial institutions		21,017,054		25,339,937
Corporates		3,034,443		3,032,609
Bond denominated in foreign currencies		5,433,558		6,763,073
Securities loaned		38,720		—
Sub-total		38,474,389		42,922,671
Equity securities		896,007		875,074
Loans		37,544		—
Total		39,407,940		43,797,745
(2)	Details of equity securities designated as financial assets at FVTOCI as of June 30, 2025 and December 31, 2024<br>are as follows (Unit: Korean Won in millions):
---	---
Purpose of acquisition	June 30, 2025		December 31, 2024		Remarks
---	---	---	---	---	---	---
Investment for strategic business partnership purpose		798,089		766,900
Debt-equity swap		97,912		108,168
Others		6		6		Insurance for mutual aid<br>association, etc.
Total		896,007		875,074
(3)	Changes in the loss allowance and gross carrying amount of financial assets at FVTOCI are as follows (Unit:<br>Korean Won in millions):
---	---
1)	Loss allowance
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(29,084	)		—		—		(29,084	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Provision of loss allowance		(489	)		—		—		(489	)
Disposal		3,618			—		—		3,618
Others (*)		433			—		—		433
Ending balance		(25,522	)		—		—		(25,522	)
(*)	Others consist of foreign currencies translation, etc.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(27,379	)		—		—		(27,379	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Provision of loss allowance		(3,482	)		—		—		(3,482	)
Disposal		2,760			—		—		2,760
Others (*)		154			—		—		154
Ending balance		(27,947	)		—		—		(27,947	)
(*)	Others consist of foreign currencies translation, etc.
---	---

- 47 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2)	Gross carrying amount
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		42,922,671			—		—		42,922,671
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		14,255,274			—		—		14,255,274
Disposal / Recovery		(18,381,141	)		—		—		(18,381,141	)
Gain (loss) on valuation		88,888			—		—		88,888
Amortization based on effective interest method		71,855			—		—		71,855
Others (*)		(445,614	)		—		—		(445,614	)
Ending balance		38,511,933			—		—		38,511,933
(*)	Others consist of foreign currencies translation, etc.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		36,694,111			—		—		36,694,111
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		14,525,101			—		—		14,525,101
Disposal / Recovery		(13,971,840	)		—		—		(13,971,840	)
Gain (loss) on valuation		58,565			—		—		58,565
Amortization based on effective interest method		67,560			—		—		67,560
Others (*)		404,538			—		—		404,538
Ending balance		37,778,035			—		—		37,778,035
(*)	Others consist of foreign currencies translation, etc.
---	---
(4)	During six-month period ended June 30, 2025, the Group sold its equity securities., designated as financial<br>assets at FVTOCI in accordance with disposal of Shares Acquired through Debt-to-Equity Swap, etc., and the fair values at disposal dates were 10,193 million Won, and cumulative losses at disposal dates were 2,483 million Won. During six-month<br>periods ended June 30, 2024, the Group sold its equity securities designated as financial assets at FVTOCI in accordance with decision of disposal by the creditors, and the fair values at disposal dates were 1,437 million Won, and cumulative losses<br>at disposal dates were 674 million Won.
---	---

- 48 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

9.	SECURITIES AT AMORTIZED COST
(1)	Details of securities at amortized cost as of June 30, 2025 and December 31, 2024 are as follows<br>(Unit: Korean Won in millions):
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Korean treasury and government agencies		8,824,486			7,646,463
Financial institutions		3,586,669			4,004,011
Corporates		4,988,852			5,997,996
Bond denominated in foreign currencies		1,373,173			1,555,470
Others		—			10,000
Allowance for credit losses		(10,473	)		(10,763	)
Total		18,762,707			19,203,177
(2)	Changes in the loss allowance and gross carrying amount of securities at amortized cost are as follows (Unit:<br>Korean Won in millions):
---	---
1)	Loss allowance
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(10,763	)		—		—		(10,763	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Net provision of loss allowance		217			—		—		217
Others (*)		73			—		—		73
Ending balance		(10,473	)		—		—		(10,473	)
(*)	Others consist of foreign currencies translation, etc.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(13,941	)		—		—		(13,941	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Net reversal of loss allowance		811			—		—		811
Others (*)		(63	)		—		—		(63	)
Ending balance		(13,193	)		—		—		(13,193	)
(*)	Others consist of foreign currencies translation, etc.
---	---

49 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2)	Gross carrying amount
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		19,213,940			—		—		19,213,940
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		2,473,315			—		—		2,473,315
Disposal / Recovery		(2,871,657	)		—		—		(2,871,657	)
Amortization based on effective interest method		55,400			—		—		55,400
Others (*)		(97,818	)		—		—		(97,818	)
Ending balance		18,773,180			—		—		18,773,180
(*)	Others consist of foreign currencies translation, etc.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		24,010,113			—		—		24,010,113
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Acquisition		502,737			—		—		502,737
Disposal / Recovery		(2,245,188	)		—		—		(2,245,188	)
Amortization based on effective interest method		39,473			—		—		39,473
Others (*)		114,817			—		—		114,817
Ending balance		22,421,952			—		—		22,421,952
(*)	Others consist of foreign currencies translation, etc.
---	---

50 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

10.	LOANS AND OTHER FINANCIAL ASSETS AT AMORTIZED COST
(1)	Details of loans and other financial assets at amortized cost as of June 30, 2025 and December 31,<br>2024 are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Due from banks		1,933,134		2,630,604
Loans		389,125,772		386,069,294
Other financial assets		22,393,855		9,771,918
Total		413,452,761		398,471,816
(2)	Details of due from banks are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Due from banks in local currency:
Due from depository banks		98,608			200,366
Due from non-depository institutions		246			152
Due for securities trading		171,845			239,222
Others		72,355			72,314
Loss allowance		(6	)		(4	)
Sub-total		343,048			512,050
Due from banks in foreign currencies:
Due from banks on demand		161,413			177,886
Due from banks on time		120,247			193,654
Others		1,311,332			1,753,337
Loss allowance		(2,906	)		(6,323	)
Sub-total		1,590,086			2,118,554
Total		1,933,134			2,630,604
(3)	Details of restricted due from banks are as follows (Unit: Korean Won in millions):
---	---
	Counterparty	June 30, 2025		Reason of restriction
---	---	---	---	---
Due from banks in local currency:
Others	Korea Federation of Savings Bank and others		77,734	Reserve deposits
Securities trading	Korea Exchange Co.,Ltd. and Korea Securities Finance Corporation and others		171,855	Customer deposit refund reserve, futures trading margin and others
	Sub-total		249,589
Due from banks in foreign currencies:
Due from banks on demand	National Bank of Cambodia and others		157,466	Reserve deposits and others
Others	Goldman Sachs Intl., Lon and others		684,316	CSA collateral and others
	Sub-total		841,782
	Total		1,091,371

51 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	Counterparty	December 31, 2024		Reason of restriction
Due from banks in local currency:
Others	Korea Federation of Savings Bank and others		77,835	Reserve deposits
Securities trading	Korea Securities Finance Corporation		238,445	Customer deposit refund reserve and futures trading margin and others
	Sub-total		316,280
Due from banks in foreign currencies:
Due from banks on demand	National Bank of Cambodia and others		169,064	Reserve deposits and others
Due from banks on time	National Bank of Cambodia		284	Usage deposits for fund settlement system and others
Others	BNP-PARIBAS, PAR and others		1,093,853	CSA collateral and others
	Sub-total		1,263,201
	Total		1,579,481
(4)	Changes in the loss allowance and gross carrying amount of due from banks are as follows (Unit: Korean Won in<br>millions):
---	---
1)	Allowance for credit losses
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(6,327	)		—		—		(6,327	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Reversal for allowance for credit loss		3,379			—		—		3,379
Others (*)		36			—		—		36
Ending balance		(2,912	)		—		—		(2,912	)
(*)	Changes due to foreign currencies translation, etc.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(15,846	)		—		—		(15,846	)
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Reversal for allowance for credit loss		1,335			—		—		1,335
Others (*)		(1,326	)		—		—		(1,326	)
Ending balance		(15,837	)		—		—		(15,837	)
(*)	Changes due to foreign currencies translation, etc.
---	---

52 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2)	Gross carrying amount
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		2,636,931			—		—		2,636,931
Transfer to 12-month expected credit losses		—			—		—		—
Transfer to lifetime expected credit losses		—			—		—		—
Transfer to credit-impaired financial assets		—			—		—		—
Net decrease		(627,354	)		—		—		(627,354	)
Others (*)		(73,531	)		—		—		(73,531	)
Ending balance		1,936,046			—		—		1,936,046
(*)	Changes due to foreign currencies translation, etc.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Stage 1		Stage 2		Stage 3		Total
Beginning balance		1,966,419		—		—		1,966,419
Transfer to 12-month expected credit losses		—		—		—		—
Transfer to lifetime expected credit losses		—		—		—		—
Transfer to credit-impaired financial assets		—		—		—		—
Net increase(decrease)		715,187		—		—		715,187
Others (*)		64,812		—		—		64,812
Ending balance		2,746,418		—		—		2,746,418
(*)	Changes due to foreign currencies translation, etc.
---	---
(5)	Details of loans are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Loans in local currency		314,571,191			315,597,374
Loans in foreign currencies		31,337,447			33,166,984
Domestic banker’s usance		2,672,488			2,803,761
Credit card accounts		12,125,262			12,488,523
Bills bought in foreign currencies		2,700,580			4,328,404
Bills bought in local currency		30,875			224,835
Factoring receivables		5,595			5,994
Advances for customers on guarantees		24,106			9,814
Private placement bonds		377,174			444,900
Securitized loans		3,120,716			3,300,876
Call loans		2,376,634			1,847,376
Bonds purchased under resale agreements		18,743,155			10,551,018
Financial lease receivables		1,028,516			1,106,912
Installment financial bond		2,451,156			2,620,534
Others		63,893			—
Loan origination costs and fees		918,301			938,886
Discounted present value		(8,504	)		(9,272	)
Allowance for credit losses		(3,412,813	)		(3,357,625	)
Total		389,125,772			386,069,294

53 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(6)	Changes in the loss allowance of loans are as follows (Unit: Korean Won in millions):
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Consumers									Corporates
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		(228,330	)		(148,315	)		(280,125	)		(971,499	)		(699,646	)		(625,921	)		(7,295	)
Transfer to 12-month expected credit losses		(32,235	)		29,452			2,783			(77,060	)		71,646			5,414			—
Transfer to lifetime expected credit losses		20,478			(23,348	)		2,870			40,794			(45,222	)		4,428			—
Transfer to credit-impaired financial assets		6,608			17,003			(23,611	)		53,571			109,025			(162,596	)		—
Net reversal(provision) of allowance for credit losses		35,669			(45,775	)		(155,624	)		(14,002	)		65,907			(525,019	)		(2,713	)
Recovery		—			—			(22,436	)		—			—			(14,815	)		—
Charge-off		—			—			125,125			—			—			282,735			—
Disposal		15			599			44,115			4			1,368			129,635			3,205
Interest income from impaired loans		—			—			8,071			—			—			15,571			—
Others		(678	)		721			1,995			14,649			(4,440	)		45,461			(2,582	)
Ending balance		(198,473	)		(169,663	)		(296,837	)		(953,543	)		(501,362	)		(845,107	)		(9,385	)
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Credit card accounts									Total
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		(123,297	)		(115,030	)		(158,167	)		(1,323,126	)		(962,991	)		(1,064,213	)		(7,295	)
Transfer to 12-month expected credit losses		(32,765	)		32,645			120			(142,060	)		133,743			8,317			—
Transfer to lifetime expected credit losses		9,354			(10,601	)		1,247			70,626			(79,171	)		8,545			—
Transfer to credit-impaired financial assets		2,771			9,112			(11,883	)		62,950			135,140			(198,090	)		—
Net reversal(provision) of allowance for credit losses		12,802			(26,592	)		(213,900	)		34,469			(6,460	)		(894,543	)		(2,713	)
Recovery		—			—			(12,052	)		—			—			(49,303	)		—
Charge-off		—			—			164,556			—			—			572,416			—
Disposal		—			—			33,237			19			1,967			206,987			3,205
Interest income from impaired loans		—			—			—			—			—			23,642			—
Others		—			—			—			13,971			(3,719	)		47,456			(2,582	)
Ending balance		(131,135	)		(110,466	)		(196,842	)		(1,283,151	)		(781,491	)		(1,338,786	)		(9,385	)

54 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Consumers									Corporates
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		(196,845	)		(134,002	)		(220,845	)		(947,688	)		(762,644	)		(363,703	)		(89	)
Transfer to 12-month expected credit losses		(27,353	)		25,393			1,960			(64,492	)		64,102			390			—
Transfer to lifetime expected credit losses		15,387			(19,003	)		3,616			37,586			(40,216	)		2,630			—
Transfer to credit-impaired financial assets		5,986			21,917			(27,903	)		47,005			128,542			(175,547	)		—
Net reversal(provision) of allowance for credit losses		3,645			(25,332	)		(205,013	)		(43,224	)		(74,014	)		(232,323	)		(612	)
Recovery		—			—			(35,896	)		—			—			(18,356	)		—
Charge-off		—			—			140,360			—			—			110,062			178
Disposal		9			314			34,047			17			1,981			121,409			256
Interest income from impaired loans		—			—			7,343			—			—			10,839			—
Others		(944	)		280			23,850			(4,104	)		462			432			—
Ending balance		(200,115	)		(130,433	)		(278,481	)		(974,900	)		(681,787	)		(544,167	)		(267	)
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Credit card accounts									Total
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		(97,734	)		(118,112	)		(133,398	)		(1,242,267	)		(1,014,758	)		(717,946	)		(89	)
Transfer to 12-month expected credit losses		(28,441	)		28,352			89			(120,286	)		117,847			2,439			—
Transfer to lifetime expected credit losses		9,527			(10,164	)		637			62,500			(69,383	)		6,883			—
Transfer to credit-impaired financial assets		2,340			10,118			(12,458	)		55,331			160,577			(215,908	)		—
Net reversal(provision) of allowance for credit losses		13,723			(27,166	)		(174,691	)		(25,856	)		(126,512	)		(612,027	)		(612	)
Recovery		—			—			(13,339	)		—			—			(67,591	)		—
Charge-off		—			—			125,773			—			—			376,195			178
Disposal		—			—			27,823			26			2,295			183,279			256
Interest income from impaired loans		—			—			—			—			—			18,182			—
Others		—			—			—			(5,048	)		742			24,282			—
Ending balance		(100,585	)		(116,972	)		(179,564	)		(1,275,600	)		(929,192	)		(1,002,212	)		(267	)

55 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(7)	Changes in the gross carrying amount of loans are as follows (Unit: Korean Won in millions):<br>
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Consumers									Corporates
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		141,003,546			15,063,902			781,868			206,025,023			11,425,641			1,491,816			1,147,147
Transfer to 12-month expected credit losses		3,975,175			(3,964,479	)		(10,696	)		2,774,928			(2,763,660	)		(11,268	)		—
Transfer to lifetime expected credit losses		(5,948,290	)		5,977,116			(28,826	)		(4,148,571	)		4,162,615			(14,044	)		—
Transfer to credit-impaired financial assets		(203,121	)		(225,702	)		428,823			(580,776	)		(554,468	)		1,135,244			—
Charge-off		—			—			(125,125	)		—			—			(282,735	)		—
Disposal		(117	)		(1,425	)		(130,042	)		(16	)		(4,678	)		(451,388	)		(3,205	)
Net increase(decrease)		4,132,003			(1,386,331	)		(101,528	)		3,284,994			(1,518,470	)		77,943			(17,908	)
Ending balance		142,959,196			15,463,081			814,474			207,355,582			10,746,980			1,945,568			1,126,034
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Credit card accounts									Total
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		11,171,885			1,036,118			279,973			358,200,454			27,525,661			2,553,657			1,147,147
Transfer to 12-month expected credit losses		434,448			(434,254	)		(194	)		7,184,551			(7,162,393	)		(22,158	)		—
Transfer to lifetime expected credit losses		(435,230	)		437,067			(1,837	)		(10,532,091	)		10,576,798			(44,707	)		—
Transfer to credit-impaired financial assets		(89,238	)		(51,608	)		140,846			(873,135	)		(831,778	)		1,704,913			—
Charge-off		—			—			(164,556	)		—			—			(572,416	)		—
Disposal		—			—			(54,202	)		(133	)		(6,103	)		(635,632	)		(3,205	)
Net increase(decrease)		(109,222	)		(166,812	)		134,486			7,307,775			(3,071,613	)		110,901			(17,908	)
Ending balance		10,972,643			820,511			334,516			361,287,421			27,030,572			3,094,558			1,126,034

56 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Consumers									Corporates
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		132,812,981			14,714,396			642,086			188,612,028			10,621,387			856,844			768,487
Transfer to 12-month expected credit losses		4,345,099			(4,334,165	)		(10,934	)		2,227,211			(2,225,117	)		(2,094	)		—
Transfer to lifetime expected credit losses		(5,638,033	)		5,670,778			(32,745	)		(4,086,235	)		4,093,977			(7,742	)		—
Transfer to credit-impaired financial assets		(177,639	)		(204,885	)		382,524			(516,214	)		(624,092	)		1,140,306			—
Charge-off		—			—			(140,360	)		—			—			(110,062	)		(178	)
Disposal		(35	)		(9,139	)		(136,405	)		(82	)		(8,197	)		(396,057	)		(112,665	)
Net increase(decrease)		2,049,586			(1,160,853	)		37,799			13,541,684			(1,119,187	)		(35,816	)		631,995
Ending balance		133,391,959			14,676,132			741,965			199,778,392			10,738,771			1,445,379			1,287,639
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Credit card receivables									Total
	Stage 1			Stage 2			Stage 3			Stage 1			Stage 2			Stage 3			Credit<br>impairment<br>model
Beginning balance		11,287,068			983,611			253,351			332,712,077			26,319,394			1,752,281			768,487
Transfer to 12-month expected credit losses		303,339			(303,209	)		(130	)		6,875,649			(6,862,491	)		(13,158	)		—
Transfer to lifetime expected credit losses		(545,213	)		546,135			(922	)		(10,269,481	)		10,310,890			(41,409	)		—
Transfer to credit-impaired financial assets		(76,382	)		(55,380	)		131,762			(770,235	)		(884,357	)		1,654,592			—
Charge-off		—			—			(125,773	)		—			—			(376,195	)		(178	)
Disposal		—			—			(53,742	)		(117	)		(17,336	)		(586,204	)		(112,665	)
Net increase(decrease)		(436,667	)		(115,285	)		99,685			15,154,603			(2,395,325	)		101,668			631,995
Ending balance		10,532,145			1,055,872			304,231			343,702,496			26,470,775			2,491,575			1,287,639

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(8)	Details of other financial assets are as follows (Unit: Korean Won in millions):
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Cash Management Account asset (CMA asset)		115,000			120,000
Receivables		18,662,271			6,411,884
Accrued income		1,913,526			1,779,310
Telex and telephone subscription rights and refundable deposits		752,092			778,986
Domestic exchange settlement debit		793,928			441,992
Other assets		445,813			452,760
Allowance for credit losses		(288,775	)		(213,014	)
Total		22,393,855			9,771,918
(9)	Changes in the allowances for credit losses on other financial assets are as follows (Unit: Korean Won in<br>millions):
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2			Stage 3			Total
Beginning balance		(20,934	)		(22,020	)		(170,060	)		(213,014	)
Transfer to 12-month expected credit losses		(1,032	)		467			565			—
Transfer to lifetime expected credit losses		277			(339	)		62			—
Transfer to credit-impaired financial assets		274			2,168			(2,442	)		—
Reversal (provision) of loss allowance		2,010			5,054			(91,852	)		(84,788	)
Charge-off		—			—			7,019			7,019
Disposal		—			—			611			611
Others		1,407			172			(182	)		1,397
Ending balance		(17,998	)		(14,498	)		(256,279	)		(288,775	)
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2			Stage 3			Total
Beginning balance		(9,019	)		(17,062	)		(130,199	)		(156,280	)
Transfer to 12-month expected credit losses		(464	)		445			19			—
Transfer to lifetime expected credit losses		293			(343	)		50			—
Transfer to credit-impaired financial assets		1,711			6,463			(8,174	)		—
Reversal (provision) of loss allowance		(184	)		(1,837	)		(13,753	)		(15,774	)
Charge-off		—			—			2,447			2,447
Disposal		—			—			1,115			1,115
Others		24			(4	)		(9,395	)		(9,375	)
Ending balance		(7,639	)		(12,338	)		(157,890	)		(177,867	)

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(10)	Changes in the gross carrying amount of other financial assets are as follows (Unit: Korean Won in millions):<br>
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2			Stage 3			Total
Beginning balance		9,435,449			99,254			450,229			9,984,932
Transfer to 12-month expected credit losses		17,924			(15,509	)		(2,415	)		—
Transfer to lifetime expected credit losses		(23,818	)		23,886			(68	)		—
Transfer to credit-impaired financial assets		(7,128	)		(11,357	)		18,485			—
Charge-off		—			—			(7,019	)		(7,019	)
Disposal		—			—			(674	)		(674	)
Net increase (decrease)		12,596,229			(3,775	)		112,937			12,705,391
Ending balance		22,018,656			92,499			571,475			22,682,630
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2			Stage 3			Total
Beginning balance		12,510,625			111,898			154,153			12,776,676
Transfer to 12-month expected credit losses		18,447			(18,413	)		(34	)		—
Transfer to lifetime expected credit losses		(30,468	)		30,533			(65	)		—
Transfer to credit-impaired financial assets		(7,344	)		(19,533	)		26,877			—
Charge-off		—			—			(2,447	)		(2,447	)
Disposal		—			(3	)		(1,497	)		(1,500	)
Net increase (decrease)		1,270,544			17,653			15,230			1,303,427
Ending balance		13,761,804			122,135			192,217			14,076,156

59 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

11.	FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
(1)	The fair value hierarchy
---	---

The fair value hierarchy for financial instruments is determined by the amount of observable market data. The specific financial instruments characteristics and market condition such as the existence of the transactions among market participants and transparency are reflected to the market observable inputs. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities. The Group maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring the fair value of its financial assets and financial liabilities. Fair value is measured based on the perspective of a market participant. As such, even when market assumptions are not readily available, the Group’s own assumptions reflect those that market participants would use for measuring the assets or liabilities at the measurement date.

The fair value measurement is described in the one of the following three levels used to classify fair value measurements:

•	Level 1 - fair value measurements are those derived from quoted prices (unadjusted) in active markets for<br>identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies.
•	Level 2 - fair value measurements are those derived from inputs other than quoted prices included within Level 1<br>that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not traded in active markets and<br>derivatives traded in OTC but not required significant judgment.
---	---
•	Level 3 - fair value measurements are those derived from valuation technique that include inputs for the assets<br>or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public securities and derivatives and debt securities of which valuation techniques<br>require significant judgments and subjectivity.
---	---

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Group’s assessment of the significance of a particular input to a fair value measurement in its entirety requires judgment and consideration of inherent factors of the asset or liability.

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Fair value hierarchy of financial assets and liabilities measured at fair value are as follows (Unit: Korean<br>Won in millions):
	June 30, 2025
---	---	---	---	---	---	---	---	---
	Level 1 (*)		Level 2 (*)		Level 3		Total
Financial assets:
Financial assets at FVTPL
Deposits		116,957		—		—		116,957
Debt securities		4,564,937		2,624,812		43,134		7,232,883
Equity securities		30,717		—		405,029		435,746
Capital contributions		—		3,009		2,906,624		2,909,633
Beneficiary certificates		228,036		2,721,745		2,156,110		5,105,891
Loans		—		217,583		50,366		267,949
Derivative assets		—		4,535,733		1,216		4,536,949
Other financial assets in foreign currency		—		—		78,852		78,852
Others		—		—		235,075		235,075
Sub-total		4,940,647		10,102,882		5,876,406		20,919,935
Financial assets at FVTOCI
Debt securities		13,831,637		24,642,752		—		38,474,389
Equity securities		319,106		—		576,901		896,007
Loans		—		—		37,544		37,544
Sub-total		14,150,743		24,642,752		614,445		39,407,940
Derivative assets (designated for hedging)		—		121,375		—		121,375
Total		19,091,390		34,867,009		6,490,851		60,449,250
Financial liabilities:
Financial liabilities at FVTPL
Deposits due to customers		117,540		—		—		117,540
Derivative liabilities		—		4,251,096		—		4,251,096
Securities sold		147,171		—		—		147,171
Sub-total		264,711		4,251,096		—		4,515,807
Financial liabilities designated to be measured at FVTPL
Deposits due to customers		—		572,456		—		572,456
Derivative liabilities (designated for hedging)		—		75,869		—		75,869
Total		264,711		4,899,421		—		5,164,132
(*)	There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value.<br>The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed.
---	---

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	December 31, 2024
	Level 1 (*)		Level 2 (*)		Level 3		Total
Financial assets:
Financial assets at FVTPL
Deposits		73,951		—		—		73,951
Debt securities		4,304,048		2,489,883		7,357		6,801,288
Equity securities		22,414		—		398,899		421,313
Capital contributions		—		4,185		2,853,513		2,857,698
Beneficiary certificates		156,898		2,301,044		2,105,160		4,563,102
Loans		—		69,401		34,776		104,177
Derivative assets		—		10,093,344		1,188		10,094,532
Other financial assets in foreign currency		—		—		48,345		48,345
Others		—		—		238,266		238,266
Sub-total		4,557,311		14,957,857		5,687,504		25,202,672
Financial assets at FVTOCI
Debt securities		14,117,592		28,805,079		—		42,922,671
Equity securities		315,640		—		559,434		875,074
Sub-total		14,433,232		28,805,079		559,434		43,797,745
Derivative assets (designated for hedging)		—		175,191		—		175,191
Total		18,990,543		43,938,127		6,246,938		69,175,608
Financial liabilities:
Financial liabilities at FVTPL
Deposits due to customers		74,205		—		—		74,205
Derivative liabilities		—		9,090,696		1,402		9,092,098
Securities sold		182,478		—		—		182,478
Sub-total		256,683		9,090,696		1,402		9,348,781
Financial instruments designated to be measured at FVTPL
Deposits due to customers		—		547,816		—		547,816
Derivative liabilities (designated for hedging)		—		102,815		—		102,815
Total		256,683		9,741,327		1,402		9,999,412
(*)	There were no transfers between Level 1 and Level 2 of financial assets and liabilities measured at fair value.<br>The Group recognizes transfers among levels at the end of reporting period in which events have occurred or conditions have changed.
---	---

Financial assets and liabilities at FVTPL, financial liabilities at FVTPL designated as upon initial recognition, financial assets at FVTOCI, and derivative assets and liabilities are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.

62 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Group determines the fair value using valuation methods. Valuation methods and input variables for each type of financial instruments are as follows:

1)	Valuation methods and input variables for each type of financial instrument classified into level 2 as of<br>June 30, 2025 and December 31, 2024 are as follows:
	Valuation methods	Input variables
---	---	---
Debt securities	Fair value is measured by discounting the future cash flows of debt securities applying the<br>risk-free market rate with credit spread, LSMC(Least-Squares Monte Carlo) and Hull-White model.	Risk-free market rate, credit spread, discount rate originated from credit grade, volatility of stocks, volatility of interest rate
Stocks, capital contributions and beneficiary certificates	Fair value is measured by using the net asset value method, FCFE(Free Cash Flow to Equity Mode),<br>Comparable Company Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, LSMC(Least-Squares Monte Carlo), and Hull-White model.	Values of underlying assets such as bond, risk-free market rate, market risk premium, corporate<br>Beta, discount rate originated from credit grade, volatility of stocks, volatility of interest rate
Derivatives	Fair value is measured by models such as option model.	Discount rate, volatility, exchange rate, etc.
Loans	The future cash flows of debt instruments are measured at a discount by applying the market<br>interest rate applied to entities with similar creditworthiness to the debtor.	Risk-free market rate and credit spread
Deposits due to customers	Fair value is measured by Hull-White model.	Swaption Volume, etc.
2)	Valuation methods and input variables for each type of financial instrument classified into level 3 as of<br>June 30, 2025 and December 31, 2024 are as follows :
---	---
	Valuation methods	Input variables
---	---	---
Loans	Fair value is measured by using the DCF model (Discounted Cash Flow Model), which is a commonly<br>used market valuation technique that considers the price and volatility of the underlying assets, and the risk-adjusted discount rate method (Tsiveriotis-Fernandes).	Underlying asset price, volatility, discount rate, volatility of stock, risk-free market rate and<br>credit spread
Stocks, capital contributions and beneficiary certificates	Among DCF (Discounted Cash Flow) Model, FCFE (Free Cash Flow to Equity) Model, Comparable Company<br>Analysis, Dividend Discount Model, Risk-adjusted Rate of Return Method, Net Asset Value Method, LSMC, Binomial Tree Model, Hull-White and Precedent Transactions model, one or more methods are used given the characteristic of the subject of fair<br>value measurement.	Risk-free market rate, market risk premium, corporate Beta, stock prices, volatility of underlying<br>asset, discount rate originated from credit grade, volatility of interest rate, volatility of real estate value, PBR, PSR, etc.
Debt securities	Fair value is measured by using the LSMC(Least-Squares Monte Carlo) and Hull-White model.	Discount rate originated from credit grade, volatility of stocks, volatility of interest<br>rate
Derivatives	Fair value is measured by models such as option model.	Correlation coefficient, stock price, volatility, etc.
Others	The fair value of the underlying asset, after calculating the fair value using the DCF model,<br>etc., considering the price and volatility of the calculated underlying asset, is calculated using the binomial tree, which is commonly used valuation techniques in the market.	Stock price, volatility of underlying assets, etc.

63 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs are as follows:

	June 30, 2025
	Fair value<br>measurement<br>technique	Type	Significant<br><br><br>unobservable inputs	Range	Impact of changes in significant<br>unobservable inputs on fair value<br>measurement
Debt securities	LSMC(Hull-White)		Volatility	20.26%~28.80%	Variation of fair value increases as volatility increases.
Loans	DCF model		Discount rate	2.86%~5.26%	Fair value increases as discount rate decreases.
Derivative assets	Option valuation<br>model and others	Equity related	Stock prices, Volatility of underlying asset	26.72%	Variation of fair value increases as stock price and volatility increases.
			Discount rate	17.39%	Fair value increases as discount rate decreases.
			Terminal growth rate	0.00%	Fair value increases as terminal growth rate increases.
Equity securities, capital contributions, and Beneficiary certificates	Binomial Tree		Stock prices, Volatility of underlying asset	17.55%~46.02%	Variation of fair value increases as stock price and volatility of underlying asset increases.<br>
	DCF model and<br>others		Discount rate	5.32%~15.74%	Fair value increases as discount rate decreases.
			Terminal growth rate	0.00%~1.00%	Fair value increases as terminal growth rate increases.
			Liquidation value	-1.00%~1.00%	Fair value increases as liquidation value increases.
	LSMC(Hull-White)		Volatility	18.98%	Variation of fair value increases as volatility increases.
Others	Binomial Tree		Stock prices, Volatility of underlying asset	17.55%~37.98%	Variation of fair value increases as stock price and volatility of underlying asset<br>increases.

64 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	December 31, 2024
	Fair value measurement<br>technique	Type	Significant<br><br><br>unobservable inputs	Range	Impact of changes in significant<br>unobservable inputs on fair value<br>measurement
Debt securities	LSMC(Hull-White)		Volatility	28.09%~88.35%	Variation of fair value increases as volatility increases.
Loans	DCF model		Discount rate	4.17%~5.98%	Fair value increases as discount rate decreases.
Derivative assets	Option valuation model and others	Equity related	Correlation coefficient<br><br><br><br> <br>Stock prices, Volatility of underlying asset<br>	0.29~0.65<br><br> <br><br><br><br>25.71%	Variation of fair value increases as correlation coefficient increases.<br><br><br>Variation of fair value increases as volatility and stock price increases.
			Discount rate	3.94%~19.62%	Fair value increases as discount rate decreases.
			Terminal growth rate	0.00%	Fair value increases as terminal growth rate increases.
Stocks, capital contributions, and beneficiary certificates	Binomial Tree		Stock prices, Volatility of underlying asset	18.76%~36.37%	Variation of fair value increases as volatility of underlying asset and stock price increases.<br>
	DCF model and others		Discount rate	4.76%~19.84%	Fair value increases as discount rate decreases.
			Terminal growth rate	0.00%~1.00%	Fair value increases as terminal growth rate increases.
			Liquidation value	-1.00%~1.00%	Fair value increases as liquidation value increases.
	LMSC(Hull-White)		Volatility of stock	29.30%	Variation of fair value increases as volatility increases.
			Discount rate	6.45%~15.56%	Fair value increases as discount rate decreases.
Others	Binomial Tree		Stock prices, Volatility of underlying asset	18.36%~36.90%	Variation of fair value increases as volatility of underlying asset and stock price<br>increases.

Fair value of financial assets and liabilities classified into Level 3 is measured by the Group using its own valuation methods or using external specialists. Unobservable inputs used in the fair value measurements are produced by the internal system of the Group and the appropriateness of inputs is reviewed regularly.

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3) Changes in financial assets and liabilities measured at fair value classified into Level 3 are as follows (Unit: Korean Won in millions):

	For the six-month period ended June 30, 2025
	Beginning<br>balance		Net income<br>(loss) (*1)			Other<br>comprehensive<br>income			Purchases/<br>issuances		Disposals /<br>settlements			Transfer<br>to or out<br>of Level<br>3 (*2)			Ending<br>balance
Financial assets:
Financial assets at FVTPL
Debt securities		7,357		1,674			—			35,607		(1,504	)		—			43,134
Equity securities		398,899		(3,793	)		—			35,991		(12,949	)		(13,119	)		405,029
Capital contributions		2,853,513		(21,953	)		—			211,219		(136,155	)		—			2,906,624
Beneficiary certificates		2,105,160		(9,377	)		—			152,135		(91,808	)		—			2,156,110
Loans		34,776		1,310			—			20,835		(6,555	)		—			50,366
Derivative assets		1,188		81			—			—		(53	)		—			1,216
Other foreign currency financial assets		48,345		(3,225	)		—			33,732		—			—			78,852
Others		238,266		6,825			—			2,545		(12,561	)		—			235,075
Sub-total		5,687,504		(28,458	)		—			492,064		(261,585	)		(13,119	)		5,876,406
Financial assets at FVTOCI
Equity securities		559,434		—			22,709			—		(26	)		(5,216	)		576,901
Loans		—		—			(9	)		66,102		(28,549	)		—			37,544
Sub-total		559,434		—			22,700			66,102		(28,575	)		(5,216	)		614,445
Total		6,246,938		(28,458	)		22,700			558,166		(290,160	)		(18,335	)		6,490,851
Financial liabilities:
Financial liabilities at FVTPL
Derivative liabilities		1,402		—			—			—		(1,402	)		—			—
Total		1,402		—			—			—		(1,402	)		—			—
(*1)	For financial liabilities, positive numbers represent losses that increase balance and negative numbers<br>represent gains that decrease balance. The loss amounting to 26,923 million Won for the period ended June 30, 2025, which is from financial assets and liabilities that the Group holds as at the end of the period.
---	---
(*2)	The Group recognizes transfers among levels at the end of reporting period in which events have occurred or<br>conditions have changed.
---	---

66 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Beginning<br>balance		Net income<br>(loss) (*1)			Other<br>comprehensive<br>income			Purchases/<br>issuances		Disposals /<br>settlements			Transfer to<br>or out of<br>Level 3<br>(*2)			Ending<br>balance
Financial assets:
Financial assets at FVTPL
Debt securities		4,230		(251	)		—			—		(2,600	)		—			1,379
Equity securities		353,279		5,219			—			44,875		(324	)		1,947			404,996
Capital contributions		2,459,648		54,051			—			269,666		(123,810	)		—			2,659,555
Beneficiary certificates		1,705,966		31,503			—			213,549		(1,596	)		(5,603	)		1,943,819
Loans		56,002		497			—			324,502		(332,515	)		—			48,486
Derivative assets		129,136		(5,296	)		—			275		(117,295	)		—			6,820
Other foreign currency financial assets		42,406		3,283			—			—		—			—			45,689
Others		183,274		4,267			—			9,565		(6,411	)		—			190,695
Sub-total		4,933,941		93,273			—			862,432		(584,551	)		(3,656	)		5,301,439
Financial assets at FVTOCI
Equity securities		548,164		—			(28,348	)		76		—			3,464			523,356
Loans		—		—			41			204,666		(154,346	)		—			50,361
Sub-total		548,164		—			(28,307	)		204,742		(154,346	)		3,464			573,717
Total		5,482,105		93,273			(28,307	)		1,067,174		(738,897	)		(192	)		5,875,156
Financial liabilities:
Financial liabilities at FVTPL
Derivative liabilities		1,994		16,315			—			—		(1,318	)		—			16,991
Total		1,994		16,315			—			—		(1,318	)		—			16,991
(*1)	For financial liabilities, positive numbers represent losses that increase balance and negative numbers<br>represent gains that decrease balance. The gain amounting to 84,063 million Won for the period ended June 30, 2024, which is from financial assets and liabilities that the Group holds as at the end of the period, and the amount is included<br>in the consolidated interim statements of comprehensive income as the net gain on financial instruments at FVTPL and the net gain on financial assets at FVTOCI.
---	---
(*2)	The Group recognizes transfers among levels at the end of reporting period in which events have occurred or<br>conditions have changed.
---	---

67 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Sensitivity analysis results on reasonable fluctuation of the significant unobservable input variables for the<br>fair value of Level 3 financial instruments are as follows.

The sensitivity analysis of the financial instruments has been performed by classifying with favorable and unfavorable changes based on how changes in unobservable assumptions would have effects on the fluctuations of financial instruments’ value. When the fair value of a financial instrument is affected by more than one unobservable assumption, the below table reflects the most favorable or the most unfavorable changes which resulted from varying the assumptions individually. The sensitivity analysis was performed for two types of level 3 financial instruments: (1) interest rate related derivatives, currency related derivatives, equity related derivatives, equity-linked securities beneficiary certificates and loans of which fair value changes are recognized as net income; (2) equity securities of which fair value changes are recognized as other comprehensive income.

Meanwhile, among the financial instruments that are classified as Level 3 amounting to 6,490,851 million Won and 6,248,340 million Won as of June 30, 2025 and December 31, 2024, respectively, equity instruments of 5,034,011 million Won and 5,655,401 million Won whose carrying amount are considered to represent the reasonable approximation of fair value are excluded from the sensitivity analysis.

The sensitivity on fluctuation of input variables by financial instruments as of June 30, 2025 and December 31, 2024 is as follows (Unit: Korean Won in millions):

	June 30, 2025
	Net income (loss)					Other comprehensive<br>income (loss)
	Favorable		Unfavorable			Favorable		Unfavorable
Financial assets:
Financial assets at FVTPL
Derivative assets (1)(4)		43		(44	)		—		—
Loans (*2)		224		(225	)		—		—
Debt securities (*3)		2,870		(2,830	)		—		—
Equity securities (2) (4) (*5)		19,239		(14,413	)		—		—
Beneficiary certificates (5)(6)		834		(829	)		—		—
Others (*4)		2,942		(2,714	)		—		—
Financial assets at FVTOCI
Equity securities (5) (7)		—		—			37,222		(27,158	)
Total		26,152		(21,055	)		37,222		(27,158	)
(*1)	Fair value changes of equity related derivatives assets and liabilities are calculated by increasing or<br>decreasing liquidation rate or discount rate, which are major unobservable variables, by 1% each, respectively.
---	---
(*2)	Fair value changes of equity securities are calculated by increasing or decreasing growth rate (0%p~1%p) and<br>discount rate or liquidation value (-1%p~1%p), which are major unobservable variables.
---	---
(*3)	Fair value changes of equity securities are calculated by increasing or decreasing stock price volatility,<br>which is major unobservable variables, by 10%.
---	---
(*4)	Fair value changes of equity securities are calculated by increasing or decreasing stock price (-10%p~10%p) and<br>volatility (-10%p~10%p), which are major unobservable variables.
---	---
(*5)	Fair value changes of equity securities are calculated by increasing or decreasing discount rate (-1%p~1%p) and<br>growth rate (-1%p~1%p) and or liquidation value (-1%p~1%p), which are major unobservable variables.
---	---
(*6)	Even if the sensitivity analysis of the capital contributions and beneficiary certificates is not possible in<br>practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing liquidation value of real estate which is underlying assets<br>and discount rate by 1%.
---	---
(*7)	Fair value changes of equity securities are calculated by increasing or decreasing correlation between growth<br>rate and discount rate, which are major unobservable variables.
---	---

68 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	December 31, 2024
	Net income (loss)					Other comprehensive<br>income (loss)
	Favorable		Unfavorable			Favorable		Unfavorable
Financial assets:
Financial assets at FVTPL
Derivative assets (*1)		50		(51	)		—		—
Loans (*2)		155		(152	)		—		—
Debt securities (*3)		469		(435	)		—		—
Equity securities (2) (4) (*5)		19,824		(14,380	)		—		—
Beneficiary certificates (*6)		706		(705	)		—		—
Others (4) (6)		2,554		(2,402	)		—		—
Financial assets at FVTOCI
Equity securities (5)(6)(*7)		—		—			47,087		(32,879	)
Total		23,758		(18,125	)		47,087		(32,879	)
Financial liabilities:
Financial liabilities at FVTPL
Derivative liabilities (*1)		—		—			—		—
Total		—		—			—		—
(*1)	Fair value changes of equity related derivatives assets and liabilities are calculated by increasing or<br>decreasing correlation or volatility, which are major unobservable variables, by 10% each, respectively.
---	---
(*2)	Fair value changes are calculated by increasing or decreasing growth rate (0%~1%) and discount rate or<br>liquidation value (-1%~1%), which are major unobservable variables.
---	---
(*3)	Fair value changes are calculated by increasing or decreasing stock price volatility by 10%, which are major<br>unobservable variables.
---	---
(*4)	Fair value changes of equity securities are calculated by increasing or decreasing stock price (-10%~10%) and<br>volatility (-10%p~10%p), which are major unobservable variables.
---	---
(*5)	Fair value changes of equity securities are calculated by increasing or decreasing growth rate (-1%p~1%p) and<br>discount rate (-1%p~1%p) or liquidation value (-1%p~1%p), which are major unobservable variables.
---	---
(*6)	Even if the sensitivity analysis of the capital contributions and beneficiary certificates among equity<br>securities is not possible in practice, fair value changes of beneficiary certificates and other securities whose major unobservable variables are composed of the real estate are calculated by increasing or decreasing price fluctuation rate of real<br>estate which are underlying assets and discount rate by 1%p.
---	---
(*7)	Fair value changes of equity securities are calculated by increasing or decreasing correlation between growth<br>rate and discount rate, which are unobservable variables.
---	---

69 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(5)	Fair value and carrying amount of financial assets and liabilities that are recorded at amortized cost are as<br>follows (Unit: Korean Won in millions):
	June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Fair value								Carrying<br>amount
	Level 1		Level 2		Level 3		Total
Financial assets:
Securities at amortized cost		4,656,137		14,171,333		—		18,827,470		18,762,707
Loans and other financial assets at amortized cost		—		19,980,566		398,115,261		418,095,827		413,452,761
Financial liabilities:
Deposits due to customers		—		369,979,336		—		369,979,336		369,477,799
Borrowings		—		31,186,278		242,283		31,428,561		31,418,274
Debentures		—		49,604,044		—		49,604,044		49,166,841
Other financial liabilities (*)		—		38,517,555		1,517,995		40,035,550		40,093,220
(*)	Lease liabilities are excluded as of June 30, 2025.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
	Fair value								Carrying<br>amount
	Level 1		Level 2		Level 3		Total
Financial assets:
Securities at amortized cost		3,242,384		15,894,576		9,991		19,146,951		19,203,177
Loans and other financial assets at amortized cost		—		7,149,151		393,995,021		401,144,172		398,471,816
Financial liabilities:
Deposits due to customers		—		367,128,451		—		367,128,451		366,821,156
Borrowings		—		29,622,705		432,561		30,055,266		30,117,031
Debentures		—		48,273,103		—		48,273,103		48,207,103
Other financial liabilities (*)		—		30,201,229		809,007		31,010,236		31,786,960
(*)	Lease liabilities are excluded as of December 31, 2024.
---	---

The fair values of financial instruments are measured using quoted market price in active markets. In case there is no active market for financial instruments, the Group determines the fair value by using valuation methods. Valuation methods and input variables for financial assets and liabilities that are measured at amortized cost are given as follows:

	Valuation methods	Input variables
Securities at amortized cost	The fair value is measured by discounting the projected cash flows of debt securities by applying<br>risk-free market rate with credit spread.	Risk-free market rate and credit spread
Loans and other financial assets at amortized cost	The fair value is measured by discounting the projected cash flows of loan products by applying<br>the market discount rate that has been applied to a proxy company that has similar credit rating to the debtor.	Risk-free market rate, credit spread and prepayment rate
Deposits due to customers, borrowings, debentures and other financial liabilities	The fair value is measured by discounting the projected cash flows of debt products by applying<br>the market discount rate that is reflecting credit rating of the Group.	Risk-free market rate, credit spread and forward rate

70 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(6)	Deferred day 1 profits or losses

Changes in deferred day 1 profits or losses are as follows (Unit: Korean Won in millions):

	For the six-month periods ended June 30
	2025			2024
Beginning balance		28			7,848
Amounts recognized in losses		(28	)		(6,860	)
Ending balance		—			988

In case some variables to measure fair values of financial instruments are not observable in the market, valuation techniques are utilized to evaluate such financial instruments. Those financial instruments are recorded the transaction price as at the time of acquisition, even though there are difference noted between the transaction price and the fair value. The table above presents the difference yet to be realized as profit or losses as of June 30, 2025 and 2024.

71 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(7)	Financial instruments by category

Carrying amounts of financial assets and liabilities by each category are as follows (Unit: Korean Won in millions):

	June 30, 2025
Financial assets	Financial assets<br>at FVTPL		Financial assets<br>at FVTOCI		Financial assets at<br>amortized cost		Derivatives<br>assets<br>(designated for<br>hedging)		Total
Deposits		116,957		—		1,933,134		—		2,050,091
Securities		15,917,511		39,370,396		18,762,707		—		74,050,614
Loans		267,949		37,544		389,125,772		—		389,431,265
Derivative assets		4,536,949		—		—		121,375		4,658,324
Other financial assets		80,569		—		22,393,855		—		22,474,424
Total		20,919,935		39,407,940		432,215,468		121,375		492,664,718
	June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
Financial liabilities	Financial liabilities<br>at FVTPL		Financial<br>liabilities<br>designated to<br>be measured<br>at FVTPL		Financial<br>liabilities at<br>amortized cost		Derivatives<br>liabilities<br>(designated for<br>hedging)		Total
Deposits due to customers		117,540		572,456		369,477,799		—		370,167,795
Borrowings		147,171		—		31,418,274		—		31,565,445
Debentures		—		—		49,166,841		—		49,166,841
Derivative liabilities		4,251,096		—		—		75,869		4,326,965
Other financial liabilities (*)		—		—		40,093,220		—		40,093,220
Total		4,515,807		572,456		490,156,134		75,869		495,320,266
(*)	Lease liabilities are excluded as of June 30, 2025.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
Financial assets	Financial assets<br>at FVTPL		Financial assets<br>at FVTOCI		Financial assets at<br>amortized cost		Derivatives<br>assets<br>(designated for<br>hedging)		Total
Deposits		73,951		—		2,630,604		—		2,704,555
Securities		14,879,996		43,797,745		19,203,177		—		77,880,918
Loans		104,177		—		386,069,294		—		386,173,471
Derivative assets		10,094,532		—		—		175,191		10,269,723
Other financial assets		50,016		—		9,771,918		—		9,821,934
Total		25,202,672		43,797,745		417,674,993		175,191		486,850,601
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
Financial liabilities	Financial<br>liabilities at<br>FVTPL		Financial<br>liabilities<br>designated to<br>be measured<br>at FVTPL		Financial<br>liabilities at<br>amortized cost		Derivatives<br>liabilities<br>(designated for<br>hedging)		Total
Deposits due to customers		74,205		547,816		366,821,156		—		367,443,177
Borrowings		182,478		—		30,117,031		—		30,299,509
Debentures		—		—		48,207,103		—		48,207,103
Derivative liabilities		9,092,098		—		—		102,815		9,194,913
Other financial liabilities (*)		—		—		31,786,960		—		31,786,960
Total		9,348,781		547,816		476,932,250		102,815		486,931,662
(*)	Lease liabilities are excluded as of December 31, 2024.
---	---

72 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

12.	INVESTMENTS IN JOINT VENTURES AND ASSOCIATES
(1)	Investments in associates accounted for using the equity method of accounting are as follows:<br>
---	---
			Percentage of ownership (%)
---	---	---	---	---	---	---	---	---	---	---
Joint ventures and associates	Main business		June 30,<br>2025		December 31,<br>2024		Location		Financial<br>statements as of
Woori Bank
W Service Networks Co., Ltd. (1) (4)		Freight & staffing<br>services		4.9		4.9		Korea		2025-05-30
Korea Credit Bureau Co., Ltd. (*2)		Credit information		9.9		9.9		Korea		2025-06-30
Korea Finance Security Co., Ltd. (2) (4)		Security service		15.0		15.0		Korea		2025-05-30
Wongwang Co., Ltd. (*3)		Wholesale and real<br>estate		29.0		29.0		Korea		—
Sejin Construction Co., Ltd. (*3)		Construction		29.6		29.6		Korea		—
ARES-TECH Co., Ltd. (*3)		Electronic component<br>manufacturing		23.4		23.4		Korea		—
Beomgyo.,Ltd. (*3)		Telecommunication<br>equipment retail sales		23.1		23.1		Korea		—
NK Eng Co., Ltd. (3) (7)		Manufacturing		—		23.1		Korea		—
K BANK Co., Ltd. (2) (4)		Finance		12.0		12.0		Korea		2025-05-30
Partner One Value Up I Private Equity Fund		Other financial services		23.3		23.3		Korea		2025-06-30
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership		Other financial services		20.0		20.0		Korea		2025-06-30
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund		Other financial services		25.0		25.0		Korea		2025-06-30
LOTTE CARD Co., Ltd. (*4)		Credit card and<br>installment financing		20.0		20.0		Korea		2025-03-31
Union Technology Finance Investment Association		Other financial services		29.7		29.7		Korea		2025-06-30
Orient Shipyard Co., Ltd. (3) (4)		Manufacture of<br>sections for ships		22.7		22.7		Korea		2025-03-31
Win Mortgage Co.,Ltd. (1) (4)		Other financial services		4.5		4.5		Korea		2025-03-31
Samsung Together Korea IPPF private securities investment trust 3 [Equity-FoFs]		Other financial services		100.0		100.0		Korea		2025-06-30
BTS 2nd Private Equity Fund		Other financial services		20.0		20.0		Korea		2025-06-30
STASSETS FUND III		Other financial services		28.3		28.3		Korea		2025-06-30
SF CREDIT PARTNERS, LLC(*2)		Other financial services		10.0		10.0		United<br>States		2025-06-30
Dongwoo C & C Co., Ltd. (*3)		Construction		23.2		23.2		Korea		—
G2 Collection Co., Ltd. (*3)		Wholesale and retail<br>sales		28.9		28.9		Korea		—
Woori Bank (*5)
Japanese Hotel Real Estate Private Equity Fund No.2		Other financial services		19.9		19.9		Korea		2025-06-30
Woori Seoul Beltway Private Special Asset Fund No.1		Trust and collective<br>investment		25.0		25.0		Korea		2025-06-30
Woori Smart General Private Equity Investment Trust 1(bond)		Collective investment<br>business		28.6		28.6		Korea		2025-06-30
Woori Asset Global Partnership Fund No. 5		Collective investment<br>business		57.7		57.7		Korea		2025-06-30

73 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership (%)
Joint ventures and associates	Main business	June 30,<br>2025		December 31,<br>2024		Location	Financial<br>statements as of
Woori General Private Securities Investment Trust No. 5 (bond)	Collective investment<br>business		28.6		28.6	Korea		2025-06-30
Woori Big Satisfaction General Private Securities Investment Trust No. 3 (bond)	Collective investment<br>business		8.7		9.1	Korea		2025-06-30
Woori General Private Securities Investment Trust No. 6 (bond)	Collective investment<br>business		28.6		28.6	Korea		2025-06-30
Woori General Private Securities Investment Trust No. 7 (bond) (*7)	Collective investment<br>business		—		28.6	Korea		—
Woori Smart General Private Equity Investment Trust No.1(bond)	Collective investment<br>business		28.4		28.4	Korea		2025-06-30
Woori Future Energy Private Special Asset Investment Trust(General) No.1	Collective investment<br>business		16.0		16.0	Korea		2025-06-30
Woori Financial Capital Co., Ltd.
WOORI TAERIM 1st Fund	Other financial<br>services		25.6		25.6	Korea		2025-06-30
Portone-Cape Fund No.1	Other financial<br>services		20.0		20.0	Korea		2025-06-30
Darwin Green Packaging Private Equity Fund	Other financial<br>services		20.4		20.4	Korea		2025-06-30
Koreawide partners 2nd Private Equity Fund	Other financial<br>services		26.7		26.7	Korea		2025-06-30
Woori Investment Securities Co., Ltd. (*5)
Woori FirstValue Private Real Estate Fund No.2	Real estate business		12.0		12.0	Korea		2025-06-30
Woori Asset Management Co. Ltd.
Woori Together TDF 2025 (*7)	Collective investment<br>business		—		24.7	Korea		—
Woori Together TDF 2050 (7) (11)	Collective investment<br>business		—		—	Korea		—
Woori Together TDF 2030(*7)	Collective investment<br>business		—		22.2	Korea		—
Woori USD Treasury Target Return Bond FoF (*7)	Collective investment<br>business		—		23.9	Korea		—
Woori Together TDF 2035 (*7)	Collective investment<br>business		—		22.5	Korea		—
Woori Together TDF 2040 (*11)	Collective investment<br>business		25.9		—	Korea		2025-06-30
Woori Private Equity Asset Management Co., Ltd.
Australia Green Energy 1st PEF(*2)	Other financial<br>services		4.0		4.0	Korea		2025-06-30
Aarden Woori Apparel 1st Private Equity Fund (*2)	Other financial<br>services		0.5		0.5	Korea		2025-06-30
Woori Dyno 1st Private Equity Fund (*2)	Other financial<br>services		19.6		19.6	Korea		2025-06-30
NH Woori Dino Co-Investment NO.2 Private Equity Fund (*2)	Other financial<br>services		5.6		5.1	Korea		2025-06-30
Woori Financial F&I Co., Ltd.
KCLAVIS NPL Investment Trust NO 1-2	Collective investment<br>business		35.9		35.9	Korea		2025-06-30

74 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

			Percentage of ownership (%)
Joint ventures and associates	Main business		June 30,<br>2025		December 31,<br>2024		Location		Financial<br>statements as of
Capstone Special Restructuring Private Investment Trust No.4 (*11)		Collective<br>investment<br>business		46.2		—		Korea		2025-06-30
Woori Venture Partners Co., Ltd.
KTB-KORUS FUND(*8)		Asset Management		37.5		37.5		Korea		2025-06-30
KTBN Venture Fund No.8(*9)		Asset Management		21.7		21.7		Korea		2025-06-30
KTBN Digital Contents Korea Fund No.9(*9)		Asset Management		30.0		30.0		Korea		2025-06-30
KTBN Media Contents Fund(*10)		Asset Management		15.0		15.0		Korea		2025-06-30
KTB China Synergy Fund(*10)		Asset Management		15.1		15.1		Korea		2025-06-30
NAVER-KTB Audio Contents Fund(7)(10)		Asset Management		—		1.0		Korea		—
KTBN Venture Fund No.13(*10)		Asset Management		19.6		19.6		Korea		2025-06-30
KTBN Future Contents Fund(*10)		Asset Management		13.3		13.3		Korea		2025-06-30
KTBN Venture Fund No.16(*10)		Asset Management		10.3		10.3		Korea		2025-06-30
KTBN Venture Fund No.18(*10)		Asset Management		10.1		10.1		Korea		2025-06-30
KB-KTB Technology Venture Fund(*10)		Asset Management		18.2		18.2		Korea		2025-06-30
Woori 2022 Scaleup Venture Fund		Asset Management		20.0		20.0		Korea		2025-06-30
Woori 2022 Start-up Venture Fund		Asset Management		30.1		30.1		Korea		2025-06-30
KTBN GI Private Equity Fund(*10)		Asset Management		5.0		5.0		Korea		2025-06-30
Chirochem		Medical material<br>Manufacturing		28.6		28.6		Korea		2025-06-30
Japanese Hotel Real Estate Private Equity Fund 1
Godo Kaisha Oceanos 1 (*4)		Other financial<br>services		47.8		47.8		Japan		2025-04-30
Woori bank and Woori card Co., Ltd. (*5)
SJCO Co., Ltd. (*3)		Aggregate<br>transportation and<br>wholesale		29.8		29.8		Korea		—
KG Fashion Co., Ltd. (3)(4)		Manufacturing		20.8		20.8		Korea		2025-05-30
Kyesan Engineering Co., Ltd. (*3)		Construction		23.3		23.3		Korea		—
Good Software Lap Co., Ltd. (*3)		Service		29.4		29.4		Korea		—
DAEA SNC Co., Ltd. (*3)		Wholesale and<br>retail sales		25.5		25.5		Korea		—
PREXCO Co., Ltd. (*3)		Manufacturing		28.1		28.1		Korea		—
JiWon Plating Co., Ltd. (*3)		Plating		20.8		20.8		Korea		—
Youngdong Sea Food Co., Ltd. (*3)		Processed sea food<br>manufacturing		24.5		24.5		Korea		—
KUM HWA Co., Ltd. (*3)		Telecommunication<br>equipment retail<br>sales		20.1		20.1		Korea		2025-06-30
Jinmyung Plus Co., Ltd. (3)(4)		Manufacturing		21.3		21.3		Korea		2025-03-31
Rea Company (3)(4)		Manufacturing		26.1		26.1		Korea		2025-03-31
ARAM CMC Co.,Ltd. (*3)		Manufacturing		20.1		20.1		Korea		—
MARKET&FARM CO.,LTD. (*3)		Wholesale and<br> <br>commodity<br>brokerage		23.7		23.7		Korea		2025-06-30
SAMJI TEXTILE CO.,LTD. (3)(4)		Wholesale and<br> <br>commodity<br>brokerage		29.8		29.8		Korea		2025-03-31
Woori bank and Woori Financial Capital Co., Ltd. (*5)

75 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

		Percentage of ownership (%)
Joint ventures and associates	Main business	June 30,<br>2025		December 31,<br>2024		Location	Financial<br>statements as of
JC Assurance No.2 Private Equity Fund	Other financial<br>services		23.4		23.4	Korea		2025-06-30
HMS-Oriens 1st Fund (*7)	Other financial<br>services		—		22.8	Korea		—
Woori Senior Loan Private Placement Investment Trust No.1	Collective investment<br>business		21.7		21.7	Korea		2025-06-30
Genesis Eco No.1 Private Equity Fund	Other financial<br>services		29.0		29.0	Korea		2025-06-30
Paratus Woori Material Component Equipment joint venture company	Other financial<br>services		29.9		29.9	Korea		2025-06-30
Midas No. 8 Private Equity Joint Venture Company	Other financial<br>services		28.5		28.5	Korea		2025-06-30
Orchestra Private Equity Fund IV	Other financial<br>services		28.2		28.2	Korea		2025-06-30
Synaptic Green No.1 PEF	Other financial<br>services		21.1		21.1	Korea		2025-06-30
IGEN2023No. 1 Private Equity Fund	Other financial<br>services		24.8		24.8	Korea		2025-06-30
PCC-Woori LP Secondary Fund	Other financial<br>services		38.9		38.9	Korea		2025-06-30
Synaptic Future Growth Private Equity Fund 1	Other financial<br>investment		23.8		23.8	Korea		2025-06-30
Woori Investment Securities Co., Ltd. and Woori Financial Capital Co., Ltd. (*5)
Healthcare Investmetnt Fund (*11)	Collective investment<br>business		28.8		—	Korea		2025-06-30
Woori Investment Securities Co., Ltd. and Woori Asset Management Co., Ltd. (*5)
Woori Oncorp Corporate support of Major Industry General Type Private Investment Trust 2	Collective investment<br>business		3.5		2.3	Korea		2025-06-30
Woori Bank and Woori Private Equity Asset Management Co., Ltd.
Woori-Q Corporate Restructuring Private Equity Fund(*6)	Other financial<br>services		34.6		34.6	Korea		2025-06-30
Woori Eugene Energy Link Private Equity Fund (2)(11)	Other financial<br>services		7.9		—	Korea		2025-06-30
Woori IMM Greean Net Zero Fund (*11)	Other financial<br>services		15.9		—	Korea		2025-06-30
Woori Financial Capital Co., Ltd., Woori Private Equity Asset Management Co., Ltd. (*5)
NH Woori New deal Co-Investment No.1 Private Equity Fund	Other financial<br>services		19.5		19.5	Korea		2025-06-30
Woori Venture Partners Co., Ltd., Woori Asset Management Corp. (*5)
Woori BIG SATISFACTION SHINJONG MMF 3rd	Collective investment<br>business		2.1		2.3	Korea		2025-06-30

76 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

			Percentage of ownership (%)
Joint ventures and associates	Main business		June 30,<br>2025		December 31,<br>2024		Location		Financial<br>statements as of
Woori Bank, Woori Financial Capital Co., Ltd., Woori Investment Securities Co., Ltd. and Woori<br>Private Equity Asset Management Co., Ltd. (*5)
Woori-Shinyoung Growth-Cap Private Equity Fund I		Other financial<br>services		35.0		35.0		Korea		2025-06-30
NH Woori Newdeal Growth Alpha Private Equity Fund 1		Other financial<br>services		33.1		32.9		Korea		2025-06-30
Woori Bank, Woori card Co., Ltd., Woori Investment Securities Co., Ltd. and Woori Asset Management<br>Corp. (*5)
Woori Real Estate Investment No. 1 Limited Liability Company		Collective investment<br>business		19.9		19.9		Korea		2025-06-30
(*1)	Most of the significant business transactions of associates are with the Group as of June 30, 2025 and<br>December 31, 2024.
---	---
(*2)	The Group can participate in decision-making body and exercise significant influence over financial policies<br>and operational policies decision making of the associates.
---	---
(*3)	There is no investment balance as of June 30, 2025 and December 31, 2024.
---	---
(*4)	The equity method was applied using the most recent financial statements available from the settlement date<br>because no financial statements were available at the end of the reporting period and the significant transactions or events that occurred between the end of the reporting period of the associate and the end of the reporting period of the subsidiary<br>were duly reflected.
---	---
(*5)	Two or more subsidiaries may invest or operate to exert significant influence on the decision-making process<br>for activities related to the investee.
---	---
(*6)	It was classified as an associate due to holding of voting rights according to the initial investment agreement<br>ratio.
---	---
(*7)	It was excluded from associates in current period.
---	---
(*8)	It has been liquidating as of June 30, 2025.
---	---
(*9)	In the event of liquidation, if the distribution payments made or to be made to the cooperative members are<br>less than their contributions, an agreement has been made whereby the shortage will be covered, up to a certain amount within the investment, giving priority to specific shareholders over others.
---	---
(*10)	The Group classified it as an associate because it has significant influence as a general partner of the<br>investment association.
---	---
(*11)	It was added to associates in current period.
---	---

77 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Changes in the carrying value of investments in associates accounted for using the equity method of accounting<br>are as follows (Unit: Korean Won in millions):

---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		January 1,<br>2025		Share of<br>profits(losses)<br>and others			Acquisition		Disposal/<br>Reclassification,<br>etc.			Dividends			Change in<br>capital			June 30,<br>2025
W Service Networks Co., Ltd.	108		204		(7	)		—		—			(5	)		—			192
Korea Credit Bureau Co., Ltd.	3,313		9,001		1,598			—		—			(90	)		—			10,509
Korea Finance Security Co., Ltd.	3,267		3,616		117			—		—			—			—			3,733
K BANK Co., Ltd.	224,657		262,250		1,301			—		—			—			216			263,767
Partner One Value Up I Private Equity Fund	5,039		2,123		(6	)		—		—			—			—			2,117
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership	—		2,263		(17	)		—		—			—			—			2,246
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund	4,580		4,532		—			48		—			—			—			4,580
LOTTE CARD Co.,Ltd.	346,810		575,580		6,505			—		—			(7,743	)		(1,713	)		572,629
Union Technology Finance Investment Association	13,449		11,770		(2,437	)		—		—			—			—			9,333
Orient Shipyard Co., Ltd.(*)	—		—		—			—		—			—			—			—
Win Mortgage Co.,Ltd.	23		135		(36	)		—		—			(9	)		—			90
Samsung Together Korea IPPF private securities investment trust 3 [Equity-FoFs]	10,000		10,847		123			—		—			—			—			10,970
BTS 2nd Private Equity Fund	8,146		7,799		(87	)		—		—			—			—			7,712
STASSETS FUND III	12,000		11,178		(111	)		—		—			—			—			11,067
SF CREDIT PARTNERS, LLC	15,504		16,000		475			2,445		—			—			(1,360	)		17,560
Japanese Hotel Real Estate Private Equity Fund No.2	3,143		2,805		41			—		(23	)		(78	)		13			2,758
Woori Seoul Beltway Private Special Asset Fund No.1	17,868		16,076		283			1,942		—			(282	)		—			18,019
Woori Smart General Private Equity Investment Trust 1(bond)	40,000		41,783		989			—		—			(2,541	)		—			40,231
Woori Asset Global Partnership Fund No.5	66,683		54,977		(3,249	)		15,000		(787	)		—			—			65,941
Woori General Private Securities Investment Trust No. 5 (bond)	60,000		60,024		1,559			—		—			—			—			61,583
Woori Big Satisfaction General Private Securities Investment Trust No. 3 (bond)	10,000		10,493		267			—		—			(603	)		—			10,157
Woori General Private Securities Investment Trust No. 6 (bond)	40,000		42,090		1,063			—		—			(2,552	)		—			40,601
Woori General Private Securities Investment Trust No. 7 (Bond)	—		41,116		610			—		(41,726	)		—			—			—
Woori Smart General Private Equity Investment Trust No.1(bond)	40,000		40,477		1,013			—		—			—			—			41,490
Woori Future Energy Private Special Asset Investment Trust(General) No.1	—		—		—			—		—			—			—			—
WOORI TAERIM 1st Fund	1,100		988		—			—		—			—			—			988
Portone-Cape Fund No.1	340		160		58			—		—			—			—			218
Darwin Green Packaging Private Equity Fund	4,000		3,904		(3	)		—		—			—			—			3,901
Koreawide partners 2nd Private Equity Fund	20,000		19,235		(387	)		—		—			—			—			18,848
Woori FirstValue Private Real Estate Fund No.2	9,000		567		3			—		—			—			—			570
Woori Together TDF 2025	—		3,577		43			—		(3,620	)		—			—			—
Woori Together TDF 2050	—		—		(139	)		—		139			—			—			—
Woori Together TDF 2030	—		3,724		35			—		(3,759	)		—			—			—
Woori Treasury Target Return Bond FoF	—		220		1			—		(221	)		—			—			—
Woori Together TDF 2035	—		3,448		39			—		(3,487	)		—			—			—
Australia Green Energy 1st PEF	4,913		5,264		87			—		—			—			—			5,351
Woori Together TDF 2040	2,500		—		126			—		2,839			—			—			2,965
Aarden Woori Apparel 1st Private Equity Fund	100		95		(1	)		—		—			—			—			94

All values are in US Dollars.

78 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2025
	Acquisition<br>cost		January 1,<br>2025		Share of<br>profits(losses)<br>and others			Acquisition		Disposal/<br>Reclassification,<br>etc.			Dividends			Change in<br>capital		June 30,<br>2025
Woori Dyno 1st Private Equity Fund		2,000		2,849		708			-		-			-			-		3,557
NH Woori Dino Co-Investment NO.2 Private Equity Fund		2,200		1,996		19			200		—			—			—		2,215
Woori Eugene Energy Link Private Equity Fund		5,500		—		(358	)		5,500		—			—			—		5,142
KCLAVIS NPL Investment Trust NO 1-2		15,000		15,422		852			—		—			—			—		16,274
Capstone Special Restructuring Private Investment Trust No.4		15,000		—		526			15,000		—			(413	)		—		15,113
KTB-KORUS FUND		337		1,789		—			—		—			—			—		1,789
KTBN Venture Fund No.8		195		1,529		—			—		—			—			—		1,529
KTBN Digital Contents Korea Fund No.9		7,020		5,006		(326	)		—		—			—			—		4,680
KTBN Media Contents Fund		—		154		—			—		—			—			—		154
KTB China Synergy Fund		11,775		18,949		138			—		(625	)		(41	)		—		18,421
NAVER-KTB Audio Contents Fund		300		248		—			—		(248	)		—			—		—
KTBN Venture Fund No.13		2,200		15,659		43,633			—		(2,200	)		(5,297	)		—		51,795
KTBN Future Contents Fund		3,472		4,193		243			—		(528	)		—			—		3,908
KTBN Venture Fund No.16		9,000		15,853		4,666			—		(3,200	)		—			—		17,319
KTBN Venture Fund No.18		27,075		25,506		(1,039	)		—		—			—			—		24,467
KB-KTB Technology Venture Fund		10,000		9,350		(428	)		—		—			—			—		8,922
WOORI 2022 Scaleup Venture Fund		41,272		17,809		25			20,328		—			—			—		38,162
WOORI 2022 Start-up Venture Fund		13,100		12,773		(123	)		—		—			—			—		12,650
KTBN GI Private Equity Fund		—		5		—			—		—			—			—		5
Chirochem		250		104		57			—		—			—			—		161
Godo Kaisha Oceanos 1		6,473		7,347		1,698			—		(4,327	)		(422	)		120		4,416
KG Fashion Co., Ltd.(*)		—		—		—			—		—			—			—		—
KUM HWA Co., Ltd. (*)		—		—		—			—		—			—			—		—
Jinmyung Plus Co., Ltd.		—		9		2			—		—			—			—		11
Rea Company (*)		—		—		—			—		—			—			—		—
Market&Farm Co., Ltd (*)		—		—		—			—		—			—			—		—
JC Assurance No.2 Private Equity Fund (*)		29,349		—		—			—		—			—			—		—
HMS-Oriens 1st Fund		—		14,880		—			—		(14,880	)		—			—		—
Woori Senior Loan Private Placement Investment Trust No.1		17,388		17,517		416			—		(169	)		(442	)		—		17,322
Genesis Eco No.1 Private Equity Fund		12,000		10,847		173			—		—			—			—		11,020
Paratus Woori Material Component Equipment joint venture company		9,334		16,714		9,074			—		(8,366	)		—			—		17,422
Midas No. 8 Private Equity Joint Venture Company		18,419		18,207		398			—		—			(530	)		—		18,075

79 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2025
	Acquisition<br>cost		January 1,<br>2025			Share of<br>profits(losses)<br>and others			Acquisition		Disposal/<br>Reclassification,<br>etc.			Dividends			Change in<br>capital			June 30,<br>2025
Orchestra Private Equity Fund IV		9,700		9,610	(73)					-		-			-			-			9,537
Synaptic Green No.1 PEF		8,000		7,499			491			—		—			—			—			7,990
IGEN2022No. 1 Private Equity Fund		7,422		7,972			860			—		—			(790	)		—			8,042
PCC-Woori LP Secondary Fund		10,435		8,648			(107	)		—		—			—			—			8,541
Synaptic Future Growth Private Equity Fund		6,325		7,685			(329	)		—		(435	)		—			—			6,921
Healthcare Investment Fund		3,000		—			(59	)		—		3,000			—			—			2,941
Woori Oncorp Corporate support of Major Industry General Type Private Investment Trust 2		4,356		4,011			155			507		—			—			—			4,673
Woori-Q Corporate Restructuring Private Equity Fund		29,627		34,007			1,267			—		—			—			—			35,274
Woori IMM Greean Net Zero Fund		—		—			—			—		—			—			—			—
NH Woori Newdeal Growth Alpha Private Equity Fund 1		44,512		55,539			(2,863	)		—		(5,506	)		(180	)		—			46,990
Woori BIG SATISFACTION SHINJONG MMF<br>3^rd^		52,000		41,984			718			23,000		(10,069	)		—			—			55,633
Woori-Shinyoung Growth-Cap Private Equity Fund I		11,989		29,696			1,096			—		(5,105	)		—			—			25,687
NH Woori New deal Co-Investment No.1 Private Equity Fund		5,000		5,204			(416	)		—		—			—			—			4,788
Woori Real Estate Investment No. 1 Limited Liability Company		34,200		33,919			679			—		—			—			—			34,598
		1,451,768		1,748,810			71,629			83,970		(103,303	)		(22,018	)		(2,724	)		1,776,364
(*)	The amount for which no loss was recognized for associates due to discontinuation of the equity method was<br>1 million Won in Orient Shipyard Co.,Ltd., 22 million Won for KG FASHION CO., LTD., 27 million Won in Market&Farm Co.,Ltd., 3 million Won for JC Assurance No.2 Private Equity Fund and the accumulated amount is 48 million<br>Won for Orient Shipyard Co.,Ltd., 181 million Won for KG FASHION CO., LTD., 118 million Won for Rea Company, 4 million Won for KUM HWA Co., Ltd., 27 million Won for Market&Farm Co.,Ltd., 669 million Won in JC Assurance<br>No.2 Private Equity Fund.
---	---

80 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Acquisition<br>cost		January 1,<br>2024		Share of<br>profits(losses)<br>and others			Acquisition		Disposal/<br>Reclassification			Dividends			Change in<br>capital			June 30,<br>2024
W Service Networks Co., Ltd.		108		216		(32	)		—		—			(5	)		—			179
Korea Credit Bureau Co., Ltd.		3,313		6,433		1,425			—		—			(90	)		—			7,768
Korea Finance Security Co., Ltd.		3,267		3,285		220			—		—			—			—			3,505
K BANK Co., Ltd.		236,232		260,052		5,052			—		—			—			802			265,906
Partner One Value Up I Private Equity Fund		5,039		3,230		334			—		—			—			—			3,564
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership		3,396		8,247		1,254			—		(960	)		—			—			8,541
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund		4,482		4,437		—			45		—			—			—			4,482
LOTTE CARD Co.,Ltd.		346,810		587,392		4,807			—		—			(15,591	)		(8,566	)		568,042
Union Technology Finance Investment Association		13,449		12,270		(310	)		—		—			—			—			11,960
Dicustody Co., Ltd.		1		1		—			—		—			—			—			1
Orient Shipyard Co., Ltd.(*)		—		—		—			—		—			—			—			—
Joongang Network Solution Co.,Ltd.		—		88		95			—		—			—			(87	)		96
Win Mortgage Co.,LTd.		23		105		(7	)		—		—			(2	)		—			96
Together-Korea Government Private Pool Private Securities Investment Trust No.3		10,000		10,540		155			—		—			—			—			10,695
BTS 2nd Private Equity Fund		8,146		4,838		2			2,920		—			—			—			7,760
STASSETS FUND III		10,500		8,406		(130	)		1,500		—			—			—			9,776
SF CREDIT PARTNERS, LLC		13,059		12,845		737			—		—			—			975			14,557
ARAM CMC Co.,Ltd.(*)		—		—		—			—		—			—			—			—
Japanese Hotel Real Estate Private Equity Fund No.2		3,174		2,688		82			—		—			(90	)		(143	)		2,537
Woori Seoul Beltway Private Special Asset Fund No.1		14,179		12,590		270			1,724		—			(268	)		—			14,316
Woori General Private Securities Investment Trust(Bond) No.1		—		51,686		586			—		(50,102	)		(2,170	)		—			—
Woori Short-term Bond Securities Investment Trust(Bond) ClassC-F		100,000		105,564		345			—		—			(4,202	)		—			101,707
Woori Safe Plus General Type Private Investment Trust S-8(Bond)		—		10,330		102			—		(10,003	)		(429	)		—			—
Woori General Private Securities Investment Trust(Bond) No.2		—		30,829		370			—		(31,199	)		—			—			—
Woori Smart General Private Equity Investment Trust 1(bond)		40,000		41,135		1,273			—		—			(1,795	)		—			40,613
Woori General Private Securities Investment Trust(Bond) No.3		28,988		51,205		626			—		(21,510	)		—			—			30,321
Woori Asset Global Partnership Fund No.5		37,500		22,071		527			15,000		—			—			—			37,598
WOORI TAERIM 1st Fund		1,100		988		—			—		—			—			—			988
Portone-Cape Fund No.1		340		445		(210	)		—		—			—			—			235
DeepDive WOORI 2021-1 Financial Investment Fund		8		1,236		(543	)		—		(214	)		(325	)		—			154
Darwin Green Packaging Private Equity Fund		4,000		3,957		(33	)		—		—			—			—			3,924
Koreawide partners 2nd Private Equity Fund		20,000		19,235		—			—		—			—			—			19,235
Woori FirstValue Private Real Estate Fund No.2		9,000		560		3			—		—			—			—			563
WooriG Real Infrastructure Blind General Type Private Placement Investment Trust		—		55		—			—		(55	)		—			—			—
Woori Together TDF 2025		3,000		—		151			—		3,245			—			—			3,396
Woori Together TDF 2030		3,000		3,324		195			—		—			—			—			3,519
Woori Together OCIO Target Return Feeder fund (Balance Bond)		—		10,376		—			—		(10,376	)		—			—			—
Australia Green Energy 1st PEF		4,913		4,811		(22	)		—		—			—			—			4,789
Aarden Woori Apparel 1st Private Equity Fund		100		133		(38	)		—		—			—			—			95

81 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Acquisition<br>cost		January 1,<br>2024		Share of<br>profits(losses)<br>and others			Acquisition		Disposal/<br>Reclassification			Dividends			Change in<br>capital			June 30,<br>2024
Woori Dyno 1st Private Equity Fund		2,000		2,358		(2	)		—		—			—			—			2,356
KTB-KORUS FUND		3,626		3,359		—			—		—			—			—			3,359
KTB China Platform Fund		17,023		16,059		(2,164	)		—		—			(13,895	)		—			—
KTBN Venture Fund No.7		16,972		16,044		(2,641	)		—		—			(13,403	)		—			—
KTBN Venture Fund No.8		194		2,511		(145	)		—		—			(569	)		—			1,797
KTBN Digital Contents Korea Fund No.9		5,329		5,597		(26	)		—		—			—			—			5,571
KTBN Media Contents Fund		330		283		1			—		—			—			—			284
KTB China Synergy Fund		21,629		20,405		(1,167	)		—		—			(3,296	)		—			15,942
NAVER-KTB Audio Contents Fund		284		288		—			—		—			—			—			288
KTBN Venture Fund No.13		13,279		14,158		(122	)		—		—			(1,801	)		—			12,235
KTBN Future Contents Fund		3,892		4,561		(29	)		—		—			—			—			4,532
KTBN Venture Fund No.16		17,546		18,561		(403	)		—		—			(4,200	)		—			13,958
KTBN Venture Fund No.18		26,308		26,970		(197	)		—		—			—			—			26,773
KB-KTB Technology Venture Fund		7,755		7,600		(56	)		—		—			—			—			7,544
WOORI 2022 Scaleup Venture Fund		14,000		13,578		(237	)		—		—			—			—			13,341
WOORI 2022 Start-up Venture Fund		7,804		2,433		(86	)		5,240		—			—			—			7,587
KTB-NHN China Private Equity Fund		1,272		3		(1	)		—		—			(2	)		—			—
KTBN GI Private Equity Fund		189		617		138			—		—			(718	)		(36	)		1
Chirochem		102		102		2			—		—			—			—			104
Daishin Balance No.18 Special Purpose Acquisition Company		600		—		(10	)		600		—			—			105			695
Godo Kaisha Oceanos 1		10,800		7,978		15			—		—			(320	)		(75	)		7,598
Woori Zip 1		8,445		7,629		(38	)		—		(262	)		—			(415	)		6,914
Woori Zip 2		11,641		10,695		(8	)		—		(443	)		—			(576	)		9,668
KG Fashion Co., Ltd.(*)		—		—		—			—		—			—			—			—
KUM HWA Co., Ltd. (*)		—		—		—			—		—			—			—			—
Jinmyung Plus Co., Ltd.		—		14		(4	)		—		—			—			—			10
JC Assurance No.2 Private Equity Fund (*)		29,349		—		—			—		—			—			—			—
Dream Company Growth no.1 PEF		—		7,809		(1	)		—		(7,551	)		(257	)		—			—
HMS-Oriens 1st Fund		12,000		14,030		424			—		—			—			—			14,454
Woori Senior Loan Private Placement Investment Trust No.1		31,004		75,590		1,349			—		(44,509	)		(1,516	)		—			30,914
Genesis Eco No.1 Private Equity Fund		12,000		10,942		173			—		—			—			—			11,115
Paratus Woori Material Component Equipment joint venture company		17,700		16,979		(133	)		—		—			—			—			16,846
Midas No. 8 Private Equity Joint Venture Company		18,419		18,465		403			—		—			(530	)		—			18,338
Orchestra Private Equity Fund IV		9,700		9,555		125			—		—			—			—			9,680
Synaptic Green No.1 PEF		8,000		7,611		(38	)		—		—			—			—			7,573
IGEN2022No. 1 Private Equity Fund		7,422		7,983		231			—		—			(151	)		—			8,063
PCC-Woori LP Secondary Fund		10,435		10,530		(150	)		—		—			—			—			10,380
Synaptic Future Growth Private Equity Fund		6,437		7,069		6,174			970		(1,657	)		(3,867	)		—			8,689
Woori-Q Corporate Restructuring Private Equity Fund		25,890		20,283		229			8,449		—			—			—			28,961
Woori-Shinyoung Growth-Cap Private Equity Fund I		17,018		33,481		(3,090	)		—		—			(197	)		—			30,194
NH Woori Newdeal Growth Alpha Private Equity Fund 1		29,807		32,987		17,638			—		(4,303	)		(9,078	)		—			37,244
Woori BIG2 Plus Securities Investment Trust(Balanced Bond)		3,200		2,543		(111	)		1,005		229			(70	)		—			3,596
Woori Short Term Government and Special Bank Bond Active ETF		—		12,286		118			—		(12,404	)		—			—			—
Woori 25-09 Corporate Bond(AA- or higher) Active ETF		29,001		29,821		799			—		—			—			—			30,620

82 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Acquisition<br>cost		January 1,<br>2024		Share of<br>profits(losses)<br>and others		Acquisition		Disposal/<br>Reclassification			Dividends			Change in<br>capital			June 30,<br>2024
Woori General Private Securities Investment Trust No. 5 (bond)		60,000		—		1,473		60,000		—			—			—			61,473
Woori Big Satisfaction General Private Securities Investment Trust No. 3 (bond)		10,000		—		212		10,000		—			—			—			10,212
Woori General Private Securities Investment Trust No. 6 (bond)		40,000		—		847		40,000		—			—			—			40,847
Woori Big Satisfaction Corporation MMF No. 1 (Government Bond)		100,000		—		2,261		500,000		(397,238	)		—			—			105,023
Woorinara New Growth TOP 20 Securities Investment Trust No. 1 (Stocks)		—		—		31		1,000		(1,031	)		—			—			—
Woori Oncorp Corporate support of Major Industry General Type Private Investment Trust 2		2,847		—		63		1,355		1,493			(3	)		—			2,908
Woorinara Short-Term Bond Securities Investment Trust (Bond)		50,200		—		341		50,200		—			—			—			50,541
Woori General Private Securities Investment Trust No. 7 (bond)		40,000		—		135		40,000		—			—			—			40,135
		1,688,576		1,795,370		39,609		740,008		(588,850	)		(78,840	)		(8,016	)		1,899,281
(*)	The amount for which no loss was recognized for associates due to discontinuation of the equity method was nil<br>for KUM HWA Co., Ltd., 10 million Won for Orient Shipyard Co.,Ltd., 20 million Won in KG FASHION CO., LTD., 19 million Won in ARAM CMC Co.,Ltd., 289 million Won in JC Assurance No.2 Private Equity Fund and the accumulated amount<br>is 4 million Won for KUM HWA Co., Ltd., 38 million Won for Orient Shipyard Co.,Ltd., 140 million Won in KG FASHION CO., LTD., 19 million Won in ARAM CMC Co.,Ltd., 660 million Won in JC Assurance No.2 Private Equity Fund.<br>
---	---

83 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

13.	OTHER ASSETS

Details of other assets are as follows (Unit: Korean Won in millions):

	June 30, 2025		December 31, 2024
Lease assets		3,892,180		3,965,839
Prepaid expenses		397,761		359,638
Advance payments		185,957		194,881
Non-operational assets		43,378		44,430
Others		67,901		40,575
Total		4,587,177		4,605,363
14.	FINANCIAL LIABILITIES AT FVTPL
---	---
(1)	Financial liabilities at FVTPL are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Financial instruments at fair value through profit or loss		4,515,807		9,348,781
Financial liabilities designated to be measured at FVTPL		572,456		547,816
Total		5,088,263		9,896,597
(2)	Financial liabilities at fair value through profit or loss are as follows (Unit: Korean Won in millions):<br>
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Deposits
Gold banking liabilities		117,540		74,205
Borrowings
Securities sold		147,171		182,478
Derivative liabilities		4,251,096		9,092,098
Total		4,515,807		9,348,781
(3)	Financial liabilities designated to be measured at FVTPL are as follows (Unit: Korean Won in millions):<br>
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Deposits due to customers
Time deposits		572,456		547,816

In accordance with documented risk management or investment strategies, the group manages a portfolio of financial instruments on a fair value basis and evaluates their performance. Therefore, under K-IFRS 1109 Financial Instrument, financial liabilities are designated to be measured at FVTPL as this provides more relevant information.

84 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Changes in fair value due to change in credit risk reflected in financial liabilities designated to be measured<br>at FVTPL are as follows (Unit: Korean Won in millions):
	For the six-month periods ended June 30
---	---	---	---	---	---	---
	2025			2024
Financial liabilities designated to be measured at FVTPL at the end of each period		572,456			329,983
Changes in fair value due to change in credit risk (*)		(25	)		(1,137	)
Accumulated change in fair value due to change in credit risk		(1,856	)		(1,137	)
(*)	The amounts recognized in other comprehensive income related to financial liabilities designated to be measured<br>at FVTPL are 25 million Won and 1,137 million Won during the six-month periods ended June 30, 2025 and 2024, with an accumulated profit of 1,856 million Won and 1,137 million Won.
---	---

The adjustment to reflect the Group’s credit risk is considered in measuring the fair value of deposits due to customers. The Group’s credit risk is determined by adjusting credit spread observed in credit rating of the Group.

(5)	The difference between carrying amount and maturity amount of financial liabilities designated to be measured<br>at FVTPL are as follows (Unit: Korean Won in millions):
	June 30, 2025		December 31, 2024
---	---	---	---	---
Carrying amount		572,456		547,816
Nominal amount at maturity		540,000		530,000
Difference		32,456		17,816
15.	DEPOSITS DUE TO CUSTOMERS
---	---

Details of deposits due to customers by type are as follows (Unit: Korean Won in millions):


Deposits in local currency:
Deposits on demand	9,102,777		7,880,603
Savings deposits with withdrawal on demand	119,877,149		115,527,487
Other savings deposits	176,937,122		175,380,553
Mutual installment	19,113		19,901
Deposits on notes payables	4,350,494		4,000,894
Deposits on CMA	116,951		120,666
Certificate of deposits	9,326,182		11,742,425
Other deposits	997,628		1,037,811
Sub-total	320,727,416		315,710,340
Deposits in foreign currencies:
Foreign currency deposits	48,616,093		50,988,673
Present value discount	(81,133	)	(144,359	)
Customers’ deposits for beneficiary	215,423		266,502
Total	369,477,799		366,821,156

85 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

16.	BORROWINGS AND DEBENTURES
(1)	Details of borrowings are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025
---	---	---	---	---	---	---
	Lenders	Interest rate (%)		Amount
Borrowings in local currency:
Borrowings from The BOK	The BOK		1.0		1,961,304
Borrowings from government funds	Small Enterprise and Market Service and others		0.0 ~ 3.5		2,265,668
Others	The Korea Development Bank and others		0.0 ~ 4.7		7,380,790
Sub-total					11,607,762
Borrowings in foreign currencies:
Borrowings in foreign currencies	The Export-Import Bank of Korea and others		0.5 ~ 12.0		13,560,843
Bills sold	Others		0.0 ~ 2.4		2,776
Call money	Bank and others		1.7 ~ 12.0		1,437,250
Bonds sold under repurchase agreements	Nonghyup Bank Co.,Ltd. and others		1.0 ~ 14.9		4,811,704
Present value discount					(2,061	)
Total					31,418,274
	December 31, 2024
	Lenders	Interest rate (%)		Amount
Borrowings in local currency:
Borrowings from The BOK	The BOK		1.5		1,981,928
Borrowings from government funds	Small Enterprise and Market Service and others		0.0 ~ 3.5		2,165,257
Others	The Korea Development Bank and others		0.0 ~ 5.6		7,955,941
Sub-total					12,103,126
Borrowings in foreign currencies:
Borrowings in foreign currencies	The Export-Import Bank of Korea and others		0.0 ~ 12.0		15,081,035
Bills sold	Others		0.0 ~ 2.7		3,690
Call money	Bank and others		1.7 ~ 4.9		1,402,780
Bonds sold under repurchase agreements	Other financial institutions		1.0 ~ 12.2		1,530,767
Present value discount					(4,367	)
Total					30,117,031
(2)	Details of debentures are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025					December 31, 2024
---	---	---	---	---	---	---	---	---	---	---
	Interest rate (%)		Amount			Interest rate (%)		Amount
Face value of bond (*):
Ordinary bonds		0.8 ~ 7.5		42,610,147			0.8 ~ 7.5		41,665,997
Subordinated bonds		1.9 ~ 5.1		4,797,636			1.9 ~ 5.1		4,421,380
Other bonds		3.2 ~ 17.0		1,854,125			1.6 ~ 17.0		2,250,672
Sub-total				49,261,908					48,338,049
Discounts on bonds				(95,067	)				(130,946	)
Total				49,166,841					48,207,103
(*)	Included debentures under fair value hedge amounting to 3,773,444 million Won and 3,952,047 million<br>Won as of June 30, 2025 and December 31, 2024 respectively. Also, debentures under cash flow hedge amounting to 1,623,350 million Won and 1,860,100 million Won are included as of June 30, 2025 and December 31, 2024<br>respectively.
---	---

86 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

17.	PROVISIONS
(1)	Details of provisions are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Asset retirement obligation		103,647		97,772
Provisions for guarantees (*1)		68,765		71,470
Provisions for unused loan commitments		129,796		137,562
Other provisions (*2)		318,337		304,624
Total		620,545		611,428
(*1)	Provisions for guarantees include provision for financial guarantee of 42,404 million won and<br>48,785 million won as of June 30, 2025 and December 31, 2024, respectively.
---	---
(*2)	Other provisions consist of provision for litigation, loss compensation and others.
---	---
(2)	Changes in provisions for guarantees and unused loan commitments are as follows (Unit: Korean Won in millions):<br>
---	---
1)	Provisions for guarantees
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage1			Stage2			Stage3			Total
Beginning balance		57,309			2,534			11,627			71,470
Transfer to 12-month expected credit loss		531			(531	)		—			—
Transfer to expected credit loss for the entire period		(307	)		307			—			—
Transfer to credit-impaired financial assets		(68	)		(39	)		107			—
Net provision (reversal) of unused amount		1,707			2,227			(5,154	)		(1,220	)
Others (*)		(1,478	)		(6	)		(1	)		(1,485	)
Ending balance		57,694			4,492			6,579			68,765
(*)	Recognized as a result of changes in financial guarantee liabilities.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---
	Stage1			Stage2			Stage3		Total
Beginning balance		70,678			2,800			7,225		80,703
Transfer to 12-month expected credit loss		428			(428	)		—		—
Transfer to expected credit loss for the entire period		(313	)		313			—		—
Transfer to credit-impaired financial assets		(22	)		—			22		—
Net provision (reversal) of unused amount		(6,783	)		209			1,110		(5,464	)
Others (*)		1,956			3			1		1,960
Ending balance		65,944			2,897			8,358		77,199
(*)	Recognized as a result of changes in financial guarantee liabilities.
---	---

87 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

2)	Provisions for unused loan commitment
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage1			Stage2			Stage3			Total
Beginning balance		108,218			24,896			4,448			137,562
Transfer to 12-month expected credit loss		6,655			(6,636	)		(19	)		—
Transfer to expected credit loss for the entire period		(3,387	)		3,392			(5	)		—
Transfer to credit-impaired financial assets		(283	)		(338	)		621			—
Net provision (reversal) of unused amount		(6,787	)		3,371			(2,982	)		(6,398	)
Others		(1,368	)		—			—			(1,368	)
Ending balance		103,048			24,685			2,063			129,796
	For the six-month period ended June 30, 2024
	Stage1			Stage2			Stage3			Total
Beginning balance		108,775			26,328			232			135,335
Transfer to 12-month expected credit loss		9,023			(9,002	)		(21	)		—
Transfer to expected credit loss for the entire period		(3,135	)		3,144			(9	)		—
Transfer to credit-impaired financial assets		(290	)		(377	)		667			—
Net provision (reversal) of unused amount		(9,288	)		8,135			(10	)		(1,163	)
Others		631			133			208			972
Ending balance		105,716			28,361			1,067			135,144
(3)	Changes in asset retirement obligation for the six-month periods ended<br>June 30, 2025 and 2024, are as follows (Unit: Korean Won in millions):
---	---
	For the six-month period ended June 30
---	---	---	---	---	---	---
	2025			2024
Beginning balance		97,772			95,179
Provisions provided		2,193			3,584
Provisions used		(5,486	)		(3,303	)
Reversal of provisions unused		(292	)		(839	)
Unwinding of discount		679			729
Increase (decrease) of restoration expense, etc.		8,781			1,043
Ending balance		103,647			96,393

The amount of the asset retirement obligation is the present value of the best estimate of future expected expenditure to settle the obligation – arising from leased property as of June 30,2025, discounted by appropriate discount rate. The restoration cost is expected to occur by the end of each property’s lease period, and the Group has used average lease period of each category of leases terminated during the past years in order to rationally estimate the lease period. In addition, the Group used average amount of actual recovery cost for the past 3 years and the inflation rate for last year in order to estimate future recovery cost.

88 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Changes in other provisions for the six-month periods ended<br>June 30, 2025 and 2024, are as follows (Unit: Korean Won in millions):
	For the six-month period ended June 30
---	---	---	---	---	---	---
	2025			2024
Beginning balance		304,624			494,814
Provisions provided		16,562			14,178
Provisions used		(2,405	)		(176,461	)
Reversal of provisions unused		(219	)		(11,054	)
Foreign currencies translation adjustments		1			90
Others		(226	)		4,275
Ending balance		318,337			325,842
(5)	Others
---	---
1)	The Group recognized provisions related to incomplete sales of Derivative Linked Fund (DLF) occurring in 2019<br>as the best estimate of expenditure, including fines, required to fulfil its current obligations.
---	---
2)	The Group recognized provisions for estimated compensation amounts related to the prepayment arising from the<br>delay in the redemption of funds before the prior fiscal year and the dispute settlement as the best estimate of the expenditure amounting to 247,410 million won and 246,422 million Won as of June 30, 2025 and 2024. In addition, The<br>Group recognized provision amounting to 424 million Won and 781 million Won for estimated compensation of expected customer loss related to equity-linked securities as of June 30, 2025 and 2024.
---	---

89 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

18.	NET DEFINED BENEFIT LIABILITY(ASSET)

The Group’s pension plan is based on the defined benefit retirement pension plan. Employees and directors with one or more years of service are entitled to receive a payment upon termination of their employment, based on their length of service and rate of salary at the time of termination. The assets of the plans are measured at their fair value at the end of reporting date. The plan liabilities are measured using the projected unit method, which takes account of projected earnings increases, using actuarial assumptions that give the best estimate of the future cash flows that will arise under the plan liabilities.

The Group is exposed to various risks through defined benefit retirement pension plan, and the most significant risks are as follows:

Volatility of asset	The defined benefit obligation was estimated with an interest rate calculated based on the return on high quality corporate bond. A deficit may occur if the rate of return of plan assets falls short of the interest<br>rate.
Decrease in the return on high quality corporate bond	A decrease in the return on high quality corporate bond will be offset by some increase in the value of debt securities that the employee benefit plan owns but will bring an increase in the defined benefit obligation.
Risk of inflation	Defined benefit obligations are related to inflation rate; the higher the inflation rate is, the higher the level of liabilities. Therefore, deficit occurs in the system if an inflation rate increases.
(1)	Details of net defined benefit liability(asset) are as follows (Unit: Korean Won in millions):<br>
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Present value of defined benefit obligation		1,883,914			1,751,605
Fair value of plan assets		(1,861,256	)		(1,892,290	)
Net defined benefit liabilities (assets)		22,658			(140,685	)
(2)	Amounts related to the defined benefit plan that are recognized in the consolidated statements of comprehensive<br>income are as follows (Unit: Korean Won in millions):
---	---
	For the six-month period ended June 30
---	---	---	---	---	---	---
	2025			2024
Current service cost		75,995			71,314
Past service cost (*1)		26,469			—
Net interest expense		(4,386	)		(6,964	)
Cost recognized in net income		98,078			64,350
Remeasurements (*2)		121,380			67,742
Cost recognized in total comprehensive income		219,458			132,092
(*1)	This was caused by changes in the criteria for assessing ordinary wages during the six-month period ended June 30, 2025.
---	---
(*2)	Amount before tax
---	---

Retirement benefits related to defined contribution plans recognized as expenses are 4,033 million won, and 2,644 million won for the six-month periods ended June 30, 2025 and 2024, respectively.

90 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

19.	OTHER FINANCIAL LIABILITIES AND OTHER LIABILITIES

Other financial liabilities and other liabilities are as follows (Unit: Korean Won in millions):


Other financial liabilities:
Accounts payable	19,499,914		7,250,633
Accrued expenses	4,717,622		4,694,493
Segregated account debit balance	6,221,313		6,769,383
Agency fees received	597,566		733,990
Foreign exchange payables	745,609		902,564
Domestic exchange settlement credits	4,250,859		7,592,473
Lease liabilities	520,728		527,090
Other miscellaneous financial liabilities	4,072,736		3,857,393
Present value discount	(12,399	)	(13,968	)
Sub-total	40,613,948		32,314,051
Other liabilities:
Unearned income	344,590		407,525
Other miscellaneous liabilities	411,283		388,973
Sub-total	755,873		796,498
Total	41,369,821		33,110,549

91 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

20.	DERIVATIVES
(1)	Derivative assets and derivative liabilities are as follows (Unit: Korean Won in millions):<br>
---	---
			June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
			Assets						Liabilities
	Nominal<br>amount		For cash<br>flow hedge		For fair value<br>hedge		For<br>trading		For cash<br>flow hedge		For fair value<br>hedge		For trading
Interest rate:
Futures		314,902		—		—		—		—		—		—
Forwards		3,570,000		—		—		57,602		—		—		283,390
Swaps		132,271,862		—		29,057		267,230		—		49,542		125,712
Written options		340,000		—		—		—		—		—		9,886
Currency:
Futures		868		—		—		—		—		—		—
Forwards		93,042,674		—		—		1,851,442		—		—		1,355,573
Swaps		74,889,709		92,318		—		2,355,902		26,327		—		2,473,354
Purchase options		252,369		—		—		3,557		—		—		—
Written options		402,614		—		—		—		—		—		3,181
Equity:
Forwards		326		—		—		195		—		—		—
Purchase options		1,711		—		—		1,021		—		—		—
Total		305,087,035		92,318		29,057		4,536,949		26,327		49,542		4,251,096
			December 31, 2024
			Assets						Liabilities
	Nominal<br>amount		For cash<br>flow hedge		For fair value<br>hedge		For<br>trading		For cash<br>flow hedge		For fair value<br>hedge		For trading
Interest rate:
Futures		449,127		—		—		—		—		—		—
Forwards		3,530,000		—		—		52,855		—		—		274,980
Swaps		138,816,980		—		10,102		308,333		180		102,635		199,761
Purchase options		50,000		—		—		81		—		—		—
Written options		360,000		—		—		—		—		—		10,595
Currency:
Futures		2,837		—		—		—		—		—		—
Forwards		111,927,474		—		—		5,638,032		—		—		1,805,299
Swaps		85,880,218		165,089		—		4,089,265		—		—		6,796,459
Purchase options		175,221		—		—		4,779		—		—		—
Written options		265,182		—		—		—		—		—		3,603
Equity:
Futures		—		—		—		—		—		—		—
Forwards		1,520		—		—		182		—		—		—
Swaps		7,698		—		—		—		—		—		1,401
Purchase options		1,767		—		—		1,005		—		—		—
Written options		—		—		—		—		—		—		—
Total		341,468,024		165,089		10,102		10,094,532		180		102,635		9,092,098

Derivatives held for trading are classified into financial assets at FVTPL (Note 7) and financial liabilities at FVTPL (Note 14), and derivatives designated for hedging are presented as a separate line item in the consolidated statements of financial position.

92 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Overview of the Group’s hedge accounting
1)	Fair value hedge
---	---

As of June 30, 2025, the Group has applied fair value hedge on fixed interest rate foreign currency denominated bonds amounting to 3,527,673 million Won, and local currency denominated bonds amounting to 245,771 million Won. The purpose of the hedging is to avoid fair value volatility risk of fixed interest rate foreign and local currency denominated debentures derived from fluctuations of market interest rate, and as such the Group entered into interest rate swap agreements designated as hedging instruments.

Pursuant to the interest rate swap agreement, by swapping the calculated difference between the fixed interest rate and floating interest rate applied to the nominal value, the fair value fluctuation risk is hedged as the foreign currency denominated debentures and local currency debentures fixed interest rate terms are converted to floating interest rate. Pursuant to the interest rate swap agreement, hedge ratio is determined by matching the nominal value of hedging instrument to the face value of the hedged item.

In this hedging relationship, only the market interest rate fluctuation, which is the most significant part of the fair value change of the hedged item, is designated as the hedged risk, and other risk factors including credit risk are not included in the hedged risk. Therefore, the ineffective portion of the hedge could arise from fluctuations in the timing of the cash flow of the hedged item, price margin set by counterparty of hedging instrument, and unilateral change in credit risk of any party of hedging instrument.

The interest rate swap agreements and the hedged items are subject to fluctuations in the underlying market rate of interest and the Group expects the fair value of the interest rate swap contract and the value of the hedged item to generally change in the opposite direction.

The fair value of the interest rate swap at the end of the reporting period is determined by discounting future cash flows estimated by using the yield curve at the end of the reporting period and the credit risk embedded in the contract and the average interest rate is determined based on the outstanding balance at the end of the reporting period. The variable interest rate applied to the interest rate swap is Compounding SOFR or CD 3M plus spread. In accordance with the terms of each interest rate swap contract designated as a hedging instrument, the Group receives interest at a fixed interest rate and pays interest at a variable interest rate.

2)	Cash Flow Hedge

As of June 30, 2025, the Group has applied cash flow hedge on foreign currency denominated bonds amounting to 1,623,350 million won. The Group’s hedging strategies are to ① Mitigate risks of cash flow fluctuation from variable interest rate debentures on local currency due to changes in market interest rate by entering into an interest rate swap contract and thereby designating it as hedging instrument; ② Mitigate the risks of cash flow fluctuation from principal and interest of variable interest rate debentures denominated in foreign currency due to changes in foreign exchange rates and interest rates by entering into a currency swap contract and thereby designating it as hedging instrument; ③ Mitigate the risks of cash flow fluctuation from principal and interest of fixed interest rate debentures denominated in foreign currency due to changes in foreign exchange rates and ④ Mitigate the risks of cash flow fluctuation in variable interest rate foreign currency borrowings resulting from changes in market interest rates and designate it as a hedging instrument through entering into currency swap contracts and interest rate swap contracts.

By exchanging a predetermined nominal amount as set forth in the interest rate swap contract adjusted by the differences between the fixed and variable interest rates, the variable interest rate terms of the Korean won-denominated variable rate bond are converted to fixed interest rate terms, thereby eliminating the cash flow volatility risk. In addition, this also means a payment of predetermined principal amount as set forth in the currency swap adjusted by fixed interest rate, an exchange of an amount calculated by applying variable interest rate to USD or applying fixed interest rate to USD, and an exchange of the principal denominated in KRW and principal denominated in foreign currency at maturity eliminating cash flow fluctuation risk on principal and interest. The hedge ratio is determined by matching the nominal amount of the hedging instrument to the face amount of the hedged item in accordance with interest rate swap and currency swap.

93 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

Only interest rate and foreign exchange rate fluctuation risks, which are the most significant factor in the cash flow fluctuation of the hedged item, are addressed in this hedging relationship, and other risk factors such as credit risk are not subject to hedging. Accordingly, hedge ineffectiveness may arise from price margin set by the counterparty of hedging instruments and unilateral change in credit risk of any party in the transaction.

The interest rate swap, currency swap contract and the hedged item are all affected by the changes in market interest rate and foreign exchange rates which are basic factors. The Group expects that the value of interest rate swap contract, currency swap contract and value of the hedged item will generally fluctuate in opposite direction.

3)	Hedges of Net Investment in Foreign Operations

Foreign currency exposure arises from the Group’s net investments in Woori America Bank, Woori Bank (Cambodia) PLC, Woori Global Markets Asia Limited, and overseas branch which use USD as their functional currency. The risk arises from fluctuations in the spot exchange rate between USD and KRW. This may result in different net investment amounts.

The risk hedged in the net investment hedging is the fluctuation risk of KRW against USD, which may reduce the carrying amount of the Group’s net investments in Woori America Bank, Woori Bank (Cambodia) PLC, Woori Global Markets Asia Limited, and overseas branch.

A portion of the Group’s net investments in Woori America Bank, Woori Bank (Cambodia) PLC, Woori Global Markets Asia Limited, and overseas branch are hedged in USD denominated foreign currency bonds (Carrying amount as of June 30, 2025: USD 863,959,317) and mitigate foreign exchange risk arising from the net assets of subsidiaries. The debenture has been designated as a hedging instrument for the value change of net investments, which arises from fluctuation in the spot exchange rate between USD and KRW.

To evaluate the effectiveness of the hedge, the Group determines the economic relationship between the hedging instrument and hedged item by comparing (offsetting) changes in the amount of foreign investments due to spot exchange rate fluctuation and in the carrying amount of the liabilities due to spot exchange rate fluctuation. The Group’s policy is to hedge the net investment amount only within the principal range of the liabilities.

94 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	The nominal amount of the hedging instrument is as follows (Unit: USD, EUR, and Korean Won in millions):<br>

---	---	---	---	---	---	---	---
		1 year to 5<br>years		More than 5<br>years		Total
Fair value hedge
Interest rate risk
Interest rate swap ()	550,000,000		2,100,000,000		—		2,650,000,000
Interest rate swap (KRW)	—		—		245,000		245,000
Cash flow hedge
Foreign currencies translation risk and interest rate risk
Currency swap ()	—		870,000,000		—		870,000,000
Foreign currencies translation risk
Currency swap ()	—		100,000,000		—		100,000,000
Currency swap ()	—		194,780,000		—		194,780,000
Hedges of net investment in foreign operations
Exchange risk
Foreign currency bond ()	—		863,959,317		—		863,959,317

		1 year to 5<br>years		More than 5<br>years		Total
Fair value hedge
Interest rate risk
Interest rate swap ()	25,000,000		2,650,000,000		—		2,675,000,000
Interest rate swap (KRW)	—		—		155,000		155,000
Cash flow hedge
Interest rate risk
Interest rate swap (KRW)	140,000		—		—		140,000
Foreign currencies translation risk and interest rate risk
Currency swap ()	—		870,000,000		—		870,000,000
Foreign currencies translation risk
Currency swap ()	—		100,000,000		—		100,000,000
Currency swap ()	—		194,780,000		—		194,780,000
Hedges of net investment in foreign operations
Exchange risk
Foreign currency bond ()	191,568,880		672,390,437		—		863,959,317

All values are in US Dollars.

95 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	The average interest rate and average currency rate of the hedging instrument are as follows:<br>

---	---

Fair value hedge
Interest rate risk
Interest rate swap ()	Fixed 3.47% receipt and (C.SOFR) + 1.06% paid
Interest rate swap (KRW)	Fixed 3.95% receipt and CD 3M + 0.01% paid
Cash flow hedge
Foreign currencies translation risk and interest rate risk
Currency swap ()	USD 1M SOFR+ 0.93% receipt, KRW 3.79% paid, USD/KRW = 1,344.45
Foreign currencies translation risk
Currency swap ()	USD 1.75% receipt, KRW 1.63% paid, USD/KRW = 1,138.50
Currency swap ()	EUR 1.98% receipt, KRW 3.40% paid, EUR/KRW = 1,344.08
Hedges of net investment
Exchanging rate risk
Foreign currency denominated debentures(/KRW)	1,427.37


Fair value hedge
Interest rate risk
Interest rate swap ()	Fixed 3.47% receipt and (C.SOFR) + 1.06% paid
Interest rate swap (KRW)	Fixed 4.52% receipt and CD 3M + 0.02% paid
Cash flow hedge
Interest rate risk
Interest rate swap (KRW)	KRW CMS 5Y+0.46% receipt, 3.65% paid
Foreign currencies translation risk and interest rate risk
Currency swap ()	USD 1M SOFR+0.93% receipt, KRW 3.79% paid, USD/KRW = 1,344.45
Foreign currencies translation risk
Currency swap ()	USD 1.75% receipt, KRW 1.63% paid, USD/KRW = 1,138.50
Currency swap ()	EUR 1.98% receipt, KRW 3.40% paid, EUR/KRW = 1,344.08
Hedges of net investmentExchanging rate risk
Foreign currencydenominated debentures(/KRW)	1,363.09

All values are in US Dollars.

96 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(5)	The amounts related to items designated as hedging instruments are as follows (Unit: USD, EUR, and Korean Won in<br>millions):

---	---	---	---	---	---	---	---	---	---	---
			Carrying amount of the hedging<br>instrument				Line item in the statement<br><br><br>of financial position<br> <br>where the<br>hedging<br> <br>instrument is located	Changing in fair<br>value used for<br>calculating hedge<br>ineffectiveness
		Assets			Liabilities
Fair value hedge
Interest rate risk
Interest rate Swap()	2,650,000,000						Derivative assets<br><br><br>(designated for hedging)
Interest rate Swap(KRW)	245,000			29,057		49,542	Derivative liabilities<br><br><br>(designated for hedging)		71,788
Cash flow hedge
Interest rate risk
Interest rate swap(KRW) (*)	—			—		—	Derivative assets<br><br><br>(designated for hedging)		180
Foreign currency translation risk and interest rate risk
Currency swap()	870,000,000			27,953		26,327	Derivative assets<br><br><br>(designated for hedging)<br> <br>Derivative<br>liabilities<br> <br>(designated for hedging)		(102,128	)
Foreign currency translation risk
Currency swap()	100,000,000			19,799		—	Derivative assets<br><br><br>(designated for hedging)		(9,929	)
Currency swap()	194,780,000			44,566		—	Derivative assets<br><br><br>(designated for hedging)		13,589
Hedges of net investment in foreign operations
Exchange rate risk
Foreign currency bond()	863,959,317			—		1,171,874	Foreign currency bond		98,145

All values are in US Dollars.

(*)	Derivative transactions have been settled, resulting in no derivative asset or liability amounts during the six-month period ended June 30, 2025.

---	---	---	---	---	---	---	---	---	---	---
			Carrying amount of the hedging<br>instrument				Line item in the statement<br><br><br>of financial position<br> <br>where the<br>hedging<br> <br>instrument is located	Changing in fair<br>value used for<br>calculating hedge<br>ineffectiveness
		Assets			Liabilities
Fair value hedge
Interest rate risk
Interest rate Swap()	2,675,000,000						Derivative assets<br><br><br>(designated for hedging)		5,265
Interest rate Swap(KRW)	155,000			10,102		102,635	Derivative liabilities<br><br><br>(designated for hedging)
Cash flow hedge
Interest rate risk
Interest rate swap(KRW)	140,000			—		180	Derivative assets<br><br><br>(designated for hedging)		211
Foreign currency translation risk and interest rate risk
Currency swap()	870,000,000			104,320		—	Derivative assets<br><br><br>(designated for hedging)<br> <br>Derivative<br>liabilities<br> <br>(designated for hedging)		110,714
Foreign currency translation risk
Currency swap()	100,000,000			29,861		—	Derivative assets<br><br><br>(designated for hedging)		18,623
Currency swap()	194,780,000			30,908		—	Derivative assets<br><br><br>(designated for hedging)		22,512
Hedges of net investment in foreign operations
Exchange rate risk
Foreign currency bond()	863,959,317			—		1,270,020	Foreign currency bond		(156,015	)

All values are in US Dollars.

97 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(6)	Details of carrying amount to hedge and amount due to hedge accounting are as follows (Unit: Korean Won in<br>millions):
	June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Carrying amount of the<br>hedged item				Accumulated amount of fair<br>value hedge adjustments on<br>the hedged item included in<br>the carrying amount of the<br>hedged item				Line item in the statement<br>of<br>financial position in which the<br>hedged item is included	Changing in<br>fair value used<br>for calculating<br>hedge<br>ineffectiveness			Cash flow<br>hedge<br>reserve<br>(*2)
	Assets		Liabilities		Assets		Liabilities
Fair value hedge
Interest rate risk
Debentures(*1)		—		3,773,444		—		55,904	Debentures		(56,649	)		—
Cash flow hedge
Interest rate risk
Debentures (*3)		—		—		—		—	Debentures		(180	)		—
Foreign currencies translation risk and interest rate risk
Debentures		—		1,177,934		—		—	Debentures		102,128			(10,166	)
Foreign currencies translation risk
Debentures		—		445,416		—		—	Debentures		(3,660	)		(5,151	)
Hedges of net investment in foreign operations
Exchange rate risk
Foreign operations net asset		—		1,171,874		—		—	Foreign operations net asset		(98,145	)		(77,342	)
(*1)	The accumulated profit on debentures on foreign currency amounted to 55,133 million won, and the<br>accumulated loss on debentures on local currency amounted to 771 million won, as of June 30, 2025.
---	---
(*2)	After tax amount
---	---
(*3)	Derivative transactions have been settled, resulting in no derivative asset or liability amounts during the six-month period ended June 30, 2025.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Carrying amount of the<br>hedged item				Accumulated amount of fair<br>value hedge adjustments on<br>the hedged item included in<br>the carrying amount of the<br>hedged item				Line item in the statement<br>of<br>financial position in which the<br>hedged item is included	Changing in<br>fair value used<br>for calculating<br>hedge<br>ineffectiveness			Cash flow<br>hedge<br>reserve<br>(*2)
	Assets		Liabilities		Assets		Liabilities
Fair value hedge
Interest rate risk
Debentures (*1)		—		3,952,047		—		129,306	Debentures		(17,417	)		—
Cash flow hedge
Interest rate risk
Debentures		—		139,987		—		—	Debentures		(211	)		(133	)
Foreign currencies translation risk and interest rate risk
Debentures		—		1,275,768		—		—	Debentures		(110,714	)		(7,825	)
Foreign currencies translation risk
Debentures		—		444,345		—		—	Debentures		(41,134	)		(7,479	)
Hedges of net investment in foreign operations
Exchange rate risk
Foreign operations net asset		—		1,270,020		—		—	Foreign operations net asset		156,015			(149,577	)
(*1)	The accumulated profit on debentures on foreign currency amounted to 124,647 million Won, and the<br>accumulated loss on debentures on local currency amounted to 4,659 million Won, as of December 31, 2024.
---	---
(*2)	After tax amount
---	---

98 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(7)	Amounts recognized in profit or loss due to the ineffective portion of fair value hedges are as follows (Unit:<br>Korean Won in millions):
		For the six-month period ended June 30, 2025
---	---	---	---	---
		Hedge ineffectiveness<br>recognized in profit<br>or loss		Line item in the profit or loss that includes<br>hedge ineffectiveness
Fair value hedge	Interest rate risk		15,139	Other net operating income(expense)
		For the six-month period ended June 30, 2024
---	---	---	---	---	---
		Hedge ineffectiveness<br>recognized in profit or<br>loss			Line item in the profit or loss that includes<br>hedge ineffectiveness
Fair value hedge	Interest rate risk		(6,635	)	Other net operating income(expense)
(8)	Reclassification of profit or loss from other comprehensive income and equity related to cash flow hedges are<br>as follows (Unit: Korean Won in millions):
---	---
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Changes in<br>the value of<br>hedging<br>instruments<br>recognized in<br>OCI			Hedge<br>ineffectiveness<br>recognized in<br>profit or loss		Changes in<br>the value<br>of foreign<br>basis<br>spread<br>recognized<br>in OCI			Line item<br>recognized in the<br>profit or<br>loss	Amounts<br>reclassified<br>from cash<br>flow hedge<br>reserve to<br>profit or<br>loss			Line item<br>affected in profit or<br>loss due<br>to<br>reclassification
Cash flow hedge	Interest rate risk		180			—		—		Other net operating income (expense)		—		Other net operating income (expense)
	Foreign currencies translation risk and interest rate risk		(102,128	)		—		(567	)	Other net operating income (expense)		98,832		Other net operating income (expense)
	Foreign currencies translation risk		3,660			—		(65	)	Other net operating income (expense)		(925)		Other net operating income (expense)
	For the<br>six-month period ended June 30, 2024
		Changes in<br>the value of<br>hedging<br>instruments<br>recognized in<br>OCI			Hedge<br>ineffectiveness<br>recognized in<br>profit or loss		Changes in<br>the value<br>of foreign<br>basis<br>spread<br>recognized<br>in OCI			Line item<br>recognized in the<br>profit or<br>loss	Amounts<br>reclassified<br>from cash<br>flow hedge<br>reserve to<br>profit or<br>loss			Line item<br>affected in profit or<br>loss due<br>to<br>reclassification
Cash flow hedge	Interest rate risk		338			—		—		Other net operating income (expense)		—		Other net operating<br><br><br>income (expense)
	Foreign currencies translation risk and interest rate risk		49,780			—		2,593		Other net operating income (expense)		(46,906	)	Other net operating<br><br><br>income (expense)
	Foreign currencies translation risk		19,277			—		1,376		Other net operating income (expense)		(21,760	)	Other net operating<br><br><br>income (expense)

99 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(9)	The amounts recognized in profit or loss and other comprehensive income related to the hedging of net<br>investments in foreign operations are as follows (Unit: Korean Won in millions):
		June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
		Other comprehensive income							Profit or loss
		Hedge gain or loss<br>recognized in other<br>comprehensive income		Income<br>tax effect			Sub-total		Hedge ineffectiveness<br>recognized in profit<br>or loss		Line item<br>recognizing<br>ineffectiveness
Hedges of net investment in foreign operations	Foreign<br>exchange<br>risk		98,145		(25,910	)		72,235		—		—
		June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---
		Other comprehensive income								Profit or loss
		Hedge gain or loss<br>recognized in other<br>comprehensive income			Income tax<br>effect		Sub-total			Hedge ineffectiveness<br>recognized in profit or<br>loss		Line item<br>recognizing<br>ineffectiveness
Hedges of net investment in foreign operations	Foreign<br>exchange<br>risk		(86,208	)		22,759		(63,449	)		—		—

No amount was reclassified from reserve of hedges of net investment in foreign operations to profit or loss for the six-month periods ended June 30, 2025 and 2024.

100 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

21.	EQUITY
(1)	Details of equity as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korean Won in<br>millions):
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Capital
Common stock capital		3,802,676			3,802,676
Hybrid securities		3,510,947			3,810,435
Capital surplus
Paid in capital in excess of par		854,499			854,499
Others		79,852			79,601
Sub-total		934,351			934,100
Capital adjustments
Treasury stocks		(185,517	)		(35,517	)
Other adjustments (*1)		(1,648,979	)		(1,699,038	)
Sub-total		(1,834,496	)		(1,734,555	)
Accumulated other comprehensive income
Gain (loss) on credit risk fluctuation of financial liabilities designated to be measured at<br>FVTPL		1,366			1,348
Financial assets at FVTOCI		150,536			60,438
Changes in capital due to equity method		(3,911	)		(1,886	)
Gain (loss) on foreign currency translation of foreign operations		147,497			523,780
Gain (loss) on hedges of net investment in foreign operations		(77,342	)		(149,577	)
Remeasurements of defined benefit plan		(176,071	)		(86,218	)
Gain (loss) on valuation of cash flow hedge		(14,094	)		(14,215	)
Sub-total		27,981			333,670
Retained earnings (2) (3)		27,734,027			26,950,510
Non-controlling interest (*4)		1,540,032			1,798,433
Total		35,715,518			35,895,269
(*1)	Included 178,060 million Won in capital transaction gains and losses recognized by Woori Bank and<br>(formerly) Woori Financial Group in 2014 and 2,238,228 million Won due to the spin-off of Gyeongnam Bank and Gwangju Bank.
---	---
(*2)	The regulatory reserve for credit losses in retained earnings amounted to 2,668,842 million Won and<br>2,392,542 million Won as of June 30, 2025 and December 31, 2024, respectively in accordance with the relevant article.
---	---
(*3)	The earned surplus reserve in retained earnings amounted to 554,990 million Won and 442,650 million<br>Won as of June 30, 2025 and December 31, 2024 in accordance with the Article 53 of the Financial Holding Company Act.
---	---
(*4)	The hybrid securities issued by Woori Bank amounting to 1,406,513 million Won and 1,645,947 million<br>Won as of June 30, 2025 and December 31, 2024, respectively, are recognized as non-controlling interests. 47,749 million Won and 38,294 million Won of dividends for the hybrid securities<br>issued by Woori Bank are allocated to net profit and loss of the non-controlling interests for the six-month periods ended June 30, 2025 and 2024, respectively.<br>
---	---
(2)	The number of authorized shares and others of the Group are as follows:
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Shares of common stock authorized		4,000,000,000 Shares		4,000,000,000 Shares
Par value		5,000 Won		5,000 Won
Shares of common stock issued		742,591,501 Shares		742,591,501 Shares
Capital stock		3,802,676 million Won		3,802,676 million Won

101 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Hybrid securities

The bond-type hybrid securities classified as owner’s equity are as follows (Unit: Korean Won in millions):


Securities in local currency	2020-02-06	—	3.34	—		400,000
Securities in local currency	2020-06-12	—	3.23	—		300,000
Securities in local currency	2020-10-23	—	3.00	200,000		200,000
Securities in local currency	2021-04-08	—	3.15	200,000		200,000
Securities in local currency	2021-10-14	—	3.60	200,000		200,000
Securities in local currency	2022-02-17	—	4.10	300,000		300,000
Securities in local currency	2022-07-28	—	4.99	300,000		300,000
Securities in local currency	2022-10-25	—	5.97	220,000		220,000
Securities in local currency	2023-02-10	—	4.65	300,000		300,000
Securities in local currency	2023-09-07	—	5.04	200,000		200,000
Securities in local currency	2024-02-07	—	4.49	400,000		400,000
Securities in local currency	2024-06-19	—	4.27	400,000		400,000
Securities in local currency	2024-10-10	—	4.00	400,000		400,000
Securities in local currency	2025-05-13	—	3.45	400,000		—
Issuance cost				(9,053	)	(9,565	)
Total				3,510,947		3,810,435

The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from date of issuance.

102 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Accumulated other comprehensive income

Changes in the accumulated other comprehensive income are as follows (Unit: Korean Won in millions):

	For the six-month period ended June 30, 2025
	Beginning<br>balance			Increase<br>(decrease) (*)			Reclassification<br>adjustments			Income tax<br>effect			Ending<br>balance
Net gain (loss) on valuation of financial assets at FVTOCI		60,438			192,389			(66,110	)		(36,181	)		150,536
Net gain (loss) on credit risk fluctuation of financial liabilities designated to be measured at<br>FVTPL		1,348			25			—			(7	)		1,366
Changes in capital due to equity method		(1,886	)		(2,790	)		—			765			(3,911	)
Gain (loss) on foreign currency translation of foreign operations		523,780			(386,614	)		—			10,331			147,497
Gain (loss) on hedges of net investment in foreign operations		(149,577	)		98,145			—			(25,910	)		(77,342	)
Remeasurement gain (loss) related to defined benefit plan		(86,218	)		(121,380	)		—			31,527			(176,071	)
Gain (loss) on valuation of cash flow hedge		(14,215	)		(1,011	)		—			1,132			(14,094	)
Total		333,670			(221,236	)		(66,110	)		(18,343	)		27,981
(*)	The increase (decrease) of financial asset valuation profit or loss at fair value through other comprehensive<br>income are changes due to the period evaluation, and the reclassification adjustments amounting to 1,827 million Won are due to disposal of equity securities during the period.
---	---
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Beginning<br>balance			Increase<br>(decrease) (*)			Reclassification<br>adjustments			Income tax<br>effect			Ending<br>balance
Net gain (loss) on valuation of financial assets at FVTOCI		79,694			(75,615	)		12,594			23,406			40,079
Net gain (loss) on credit risk fluctuation of financial liabilities designated to be measured at<br>FVTPL		—			1,137			—			(300	)		837
Changes in capital due to equity method		3,471			(8,873	)		—			2,356			(3,046	)
Gain (loss) on foreign currency translation of foreign operations		15,579			224,035			—			(7,604	)		232,010
Gain (loss) on hedges of net investment in foreign operations		(34,750	)		(86,208	)		—			22,759			(98,199	)
Remeasurement gain (loss) related to defined benefit plan		(24,262	)		(67,743	)		—			18,259			(73,746	)
Gain (loss) on valuation of cash flow hedge		(20,806	)		7,079			(461	)		(388	)		(14,576	)
Total		18,926			(6,188	)		12,133			58,488			83,359
(*)	The increase (decrease) of financial asset valuation profit or loss at fair value through other comprehensive<br>income are changes due to the period evaluation, and the reclassification adjustments amounting to 436 million Won are due to disposal of equity securities during the period.
---	---

103 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(5)	Changes in treasury stocks for the six-month periods ended<br>June 30, 2025 and 2024 are as follows (Unit: Korean Won in millions):
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---
	Beginning<br>balance		Acquisition		Disposal			Ending<br>balance
Number of shares		3,082,276		8,515,245		(64	)		11,597,457
Carrying amount		35,517		150,001		(1	)		185,517
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---
	Beginning<br>balance		Acquisition		Retirement			Ending<br>balance
Number of shares		3,427,497		9,359,792		(9,705,025	)		3,082,264
Carrying amount		39,348		136,711		(140,542	)		35,517
(6)	Regulatory Reserve for Credit Loss
---	---

In accordance with Article 26 ~ 28 of the Financial holding company Supervision Regulations, the Group calculates and discloses the regulatory reserve for credit loss.

1)	Balance of the regulatory reserve for credit loss

Balance of the planned regulatory reserve for credit loss is as follows (Unit: Korean Won in millions):

	June 30, 2025
Beginning balance		2,668,842	2,392,542
Planned provision of regulatory reserve for credit loss		136,016	276,300
Ending balance		2,804,858	2,668,842
2)	Provision of regulatory reserve for credit loss, adjusted income after the provision of regulatory reserve and<br>others
---	---

Planned reserves provided, adjusted net income after the planned reserves provided and adjusted EPS after the planned reserves provided are as follows (Unit: Korean Won in millions, except for EPS amount):

	Period ended June 30, 2025						Period ended June 30, 2024
	Three-month			Six-month			Three-month			Six-month
Net income before regulatory reserve		939,743			1,594,299			961,509			1,800,420
Provision of regulatory reserve for credit loss		73,444			136,016			94,286			150,244
Adjusted net income after the provision of regulatory reserve		866,299			1,458,283			867,223			1,650,176
Dividends to hybrid securities		(36,166	)		(75,672	)		(39,748	)		(75,007	)
Adjusted net income after regulatory reserve and dividends to hybrid securities		830,133			1,382,611			827,475			1,575,169
Adjusted EPS after regulatory reserve and the dividends to hybrid securities (Unit: Korean<br>Won)		1,130			1,877			1,119			2,120

104 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

22.	DIVIDENDS
(1)	Dividends per share and the total dividends for the fiscal year ending December 31, 2024 were 660 Won and<br>490,075 million Won, respectively, approved at the regular general shareholders’ meeting held on March 26, 2025, and were paid in April 2025.
---	---
(2)	On April 25, 2025, the Board of Directors has declared a quarterly dividend of 200 Won per share<br>(147,428 million Won in total) and fixed record date as May 10, 2025. Dividends were paid in May 2025.
---	---
23.	NET INTEREST INCOME
---	---
(1)	Interest income recognized is as follows (Unit: Korean Won in millions):
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Financial assets at FVTPL		64,600		120,559		57,213		114,866
Financial assets at FVTOCI		324,231		675,627		322,136		626,636
Financial assets at amortized cost
Securities at amortized cost		138,493		276,345		169,068		343,472
Loans and other financial assets at amortized cost
Interest on due from banks		143,785		286,446		139,911		306,611
Interest on loans		4,416,336		9,005,431		4,704,327		9,446,138
Interest of other receivables		27,162		55,368		25,720		50,153
Subtotal		4,587,283		9,347,245		4,869,958		9,802,902
Total		5,114,607		10,419,776		5,418,375		10,887,876
(2)	Details of interest expense recognized are as follows (Unit: Korean Won in millions):
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Interest on deposits due to customers		2,047,159		4,255,577		2,348,884		4,720,103
Interest on borrowings		282,620		586,329		339,039		705,604
Interest on debentures		440,003		888,550		428,125		856,906
Other interest expense		78,646		166,580		99,663		201,487
Interest on lease liabilities		4,362		8,932		5,768		8,677
Total		2,852,790		5,905,968		3,221,479		6,492,777

105 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

24.	NET FEES AND COMMISSIONS INCOME
(1)	Details of fees and commissions income recognized are as follows (Unit: Korean Won in millions):<br>
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Fees and commission received for brokerage		41,235		83,615		35,515		84,374
Fees and commission received related to credit		42,796		87,270		45,254		89,743
Fees and commission received for electronic finance		31,309		62,810		31,890		63,424
Fees and commission received on foreign exchange handling		13,947		27,719		14,592		28,721
Fees and commission received on foreign exchange		27,299		54,751		28,496		56,145
Fees and commission received for guarantee		24,854		49,256		23,961		47,729
Fees and commission received on credit card		162,478		323,094		160,568		311,277
Fees and commission received on securities business		21,396		38,497		15,314		30,140
Fees and commission from trust management		69,917		134,566		65,612		126,327
Fees and commission received on credit information		2,537		5,216		2,559		5,174
Fees and commission received related to lease		239,340		478,703		218,374		424,081
Other fees		55,125		95,707		101,374		166,048
Total		732,233		1,441,204		743,509		1,433,183
(2)	Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions):<br>
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Fees and commissions paid		95,333		180,545		80,403		156,166
Credit card commission		108,915		215,126		102,663		209,803
Securities business commission		614		1,015		276		596
Others		5,053		10,766		4,932		8,452
Total		209,915		407,452		188,274		375,017
25.	DIVIDEND INCOME
---	---
(1)	Details of dividend income recognized are as follows (Unit: Korean Won in millions):
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Dividend income related to financial assets at FVTPL		70,372		125,651		83,357		137,721
Dividend income related to financial assets at FVTOCI		2,237		16,782		2,599		15,017
Total		72,609		142,433		85,956		152,738
(2)	Details of dividends related to financial assets at FVTOCI are as follows (Unit: Korean Won in millions):<br>
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Dividend income recognized from assets held as of period end:
Equity securities		1,670		16,215		2,599		15,017
Dividend income recognized from assets disposed of as of period end:
Equity securities		567		567		—		—
Total		2,237		16,782		2,599		15,017

106 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

26.	NET GAIN OR LOSS ON FINANCIAL INSTRUMENTS AT FAIR VALUE THROUGH PROFIT OR LOSS MANDATORILY MEASURED AT FAIRVALUE
(1)	Details of gains or losses related to net gain or loss on financial instruments at FVTPL are as follows (Unit:<br>Korean Won in millions):
---	---
	Period ended June 30, 2025						Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Gain on financial instruments at fair value through profit or loss		(320,679	)		(108,271	)		387,185			903,237
Loss on credit risk fluctuation of financial instruments designated to be measured at<br>FVTPL		(4,625	)		(14,665	)		(674	)		(1,119	)
Total		(325,304	)		(122,936	)		386,511			902,118
(2)	Details of net gain or loss on financial instruments at fair value through profit or loss and financial<br>instruments held for trading are as follows (Unit: Korean Won in millions):
---	---
			Period ended June 30, 2025						Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
			Three-month			Six-month			Three-month			Six-month
Financial assets at FVTPL	Securities	Gain on transactions and valuation		24,764			361,388			159,677			317,636
		Loss on transactions and valuation		(88,683	)		(214,967	)		27,989			(240,587	)
		Sub-total		(63,919	)		146,421			187,666			77,049
	Loans	Gain on transactions and valuation		2,133			3,345			12,241			13,754
		Loss on transactions and valuation		5			(67	)		168			(587	)
		Sub-total		2,138			3,278			12,409			13,167
	Other financial assets	Gain on transactions and valuation		8,890			12,208			2,713			6,436
		Loss on transactions and valuation		(6,651	)		(13,926	)		(4,755	)		(8,091	)
		Sub-total		2,239			(1,718	)		(2,042	)		(1,655	)
	Sub-total			(59,542	)		147,981			198,033			88,561
Derivatives (Held for trading)	Interest rates derivatives	Gain on transactions and valuation		699,666			1,056,244			593,467			1,389,936
		Loss on transactions and valuation		(558,067	)		(1,114,345	)		(627,745	)		(1,145,697	)
		Sub-total		141,599			(58,101	)		(34,278	)		244,239
	Currency derivatives	Gain on transactions and valuation		5,741,408			8,079,511			3,370,956			7,770,653
		Loss on transactions and valuation		(6,144,542	)		(8,278,116	)		(3,158,942	)		(7,191,586	)
		Sub-total		(403,134	)		(198,605	)		212,014			579,067
	Equity derivatives	Gain on transactions and valuation		469			558			118,035			1,076,504
		Loss on transactions and valuation		(186	)		(223	)		(106,619	)		(1,085,139	)
		Sub-total		283			335			11,416			(8,635	)
	Other derivatives	Gain on transactions and valuation		220			224			—			5
		Loss on transactions and valuation		(105	)		(105	)		—			—
		Sub-total		115			119			—			5
	Sub-total			(261,137	)		(256,252	)		189,152			814,676
Net, total				(320,679	)		(108,271	)		387,185			903,237
(*)	The Group holds interest rate and currency-related derivative contracts to manage the volatility of gains and<br>losses on transactions of foreign exchange due to exchange rate risk. The gains and losses on transactions of foreign exchange are described in Note 29. (2) and (3).
---	---

107 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Details of gains or losses on credit risk fluctuation of financial instruments designated to be measured at<br>FVTPL are as follows (Unit: Korean Won in millions):
	Period ended June 30, 2025						Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Net loss on Deposits due to customers
Net loss on valuation of Time Deposits		(4,625	)		(14,665	)		(674	)		(1,119	)
27.	NET GAIN OR LOSS ON FINANCIAL ASSETS AT FVTOCI
---	---

Details of net gain or loss on financial assets at FVTOCI recognized are as follows (Unit: Korean Won in millions) :

	Period ended June 30, 2025				Period ended June 30, 2024
	Three-month		Six-month		Three-month		Six-month
Gain (loss) on transactions of securities		47,566		80,823		18,039		38,515
Total		47,566		80,823		18,039		38,515
28.	REVERSAL OF (PROVISION FOR) IMPAIRMENT LOSSES DUE TO CREDIT LOSS
---	---

Reversal of (provision for) impairment losses due to credit loss are as follows (Unit: Korean Won in millions):

	Period ended June 30, 2025						Period ended June 30, 2024
	Three-month			Six-month			Three-month			Six-month
Reversal(provision) due to credit loss on financial assets measured at FVTOCI		239			(489	)		(3,741	)		(3,482	)
Reversal for impairment loss due to credit loss on securities at amortized cost		127			217			283			811
Provision for impairment loss due to credit loss on loan and other financial assets at amortized<br>cost		(508,770	)		(950,656	)		(416,020	)		(779,448	)
Reversal(provision) for guarantees		(1,399	)		1,220			7,911			5,464
Reversal for unused loan commitment		1,994			6,398			2,587			1,163
Total		(507,809	)		(943,310	)		(408,980	)		(775,492	)

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WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

29.	GENERAL AND ADMINISTRATIVE EXPENSES AND OTHER NET OPERATING INCOME (EXPENSES)
(1)	Details of general and administrative expenses recognized are as follows (Unit: Korean Won in millions):<br>
---	---
			Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---
			Three-month		Six-month		Three-month		Six-month
Employee benefits	Short-term employee benefits	Salaries		460,681		932,793		443,845		878,236
		Employee fringe benefits		181,892		327,138		156,346		319,745
	Share based payment			19,507		24,750		3,527		12,283
	Retirement benefit service costs			63,737		102,111		33,523		66,994
	Termination			—		169,392		—		(3,503	)
	Sub-total			725,817		1,556,184		637,241		1,273,755
Depreciation and amortization				143,052		285,999		136,440		266,324
Other general and administrative expenses	Rent			29,801		61,820		27,430		58,707
	Taxes and public dues			60,221		112,635		59,727		113,882
	Service charges			64,752		128,477		63,971		124,658
	Computer and IT related			39,050		77,996		32,861		61,861
	Telephone and communication			23,708		49,223		21,774		43,775
	Advertising			38,640		64,237		41,861		65,949
	Printing			1,079		2,235		1,153		2,435
	Traveling			3,184		6,244		3,317		6,323
	Supplies			1,843		3,549		1,810		4,063
	Insurance premium			2,919		6,645		3,203		6,901
	Maintenance			5,663		11,588		5,951		11,999
	Water, light, and heating			4,071		9,674		4,149		9,775
	Vehicle maintenance			3,003		5,716		3,644		7,083
	Others (*)			26,111		96,864		24,788		43,497
	Sub-total			304,045		636,903		295,639		560,908
	Total			1,172,914		2,479,086		1,069,320		2,100,987
(*)	It includes 50,710 million Won in in-house welfare fund<br>contributions for the six-month period ended June 30, 2025.
---	---
(2)	Details of other operating income recognized are as follows (Unit: Korean Won in millions):<br>
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Gains on transactions of foreign exchange (*)		909,163		1,197,499		95,066		163,320
Gains related to derivatives (designated for hedging)		26,169		85,237		37,138		83,926
Gains on fair value hedged items		1,820		3,887		2,130		42,020
Others		121,326		216,965		88,869		161,590
Total		1,058,478		1,503,588		223,203		450,856
(*)	The Group holds interest rate and currency-related derivative contracts to manage the volatility of gains and<br>losses on transactions of foreign exchange due to exchange rate risk. The related gains and losses are described in Note 26. (2).
---	---

109 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Details of other operating expenses recognized are as follows (Unit: Korean Won in millions):<br>
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Losses on transactions of foreign exchange (*1)		155,565		472,940		278,705		748,355
KDIC deposit insurance premium		126,212		256,582		126,317		247,185
Contribution to miscellaneous funds		132,148		262,256		126,492		261,000
Losses related to derivatives (Designated for hedging)		107,787		111,521		983		44,299
Losses on fair value hedged items		14,743		59,901		20,305		29,253
Others (*2)		345,201		641,309		300,944		552,557
Total		881,656		1,804,509		853,746		1,882,649
(*1)	The Group holds interest rate and currency-related derivative contracts to manage the volatility of gains and<br>losses on transactions of foreign exchange due to exchange rate risk. The related gains and losses are described in Note 26. (2).
---	---
(*2)	Other expense includes 16,279 million Won and 13,080 million Won for intangible asset amortization<br>cost and 313,693 million Won and 279,416 million Won for lease depreciation cost for the six-month periods ended June 30, 2025 and 2024, respectively.
---	---
(4)	Share-based payment
---	---

Details of performance condition share-based payment granted to executives as of June 30, 2025 and December 31, 2024 are as follows.

1)	Performance condition share-based payment
Subject to		Shares granted for the year 2021
---	---	---
Type of payment		Cash-settled
Vesting period		January 1, 2021 ~ December 31, 2024
Date of payment		2025-01-01
Fair value (*1)		15,831 Won
Valuation method		Black-Scholes Model
Expected dividend rate		6.48%
Expected maturity date		—
Number of shares remaining	As of June 30, 2025	56,029 shares
	As of December 31, 2024	1,105,292 shares
Number of shares granted (*2)	As of June 30, 2025	56,029 shares
	As of December 31, 2024	1,105,292 shares
Subject to		Shares granted for the year 2022
Type of payment		Cash-settled
Vesting period		January 1, 2022 ~ December 31, 2025
Date of payment		2026-01-01
Fair value (*1)		20,367 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		0.5 years
Number of shares remaining	As of June 30, 2025	960,777 shares
	As of December 31, 2024	960,777 shares
Number of shares granted (*2)	As of June 30, 2025	960,777 shares
	As of December 31, 2024	960,777 shares

110 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

Subject to		Shares granted for the year 2023
Type of payment		Cash-settled
Vesting period		January 1, 2023 ~ December 31, 2026
Date of payment		2027-01-01
Fair value (*1)		18,934 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		1.5 years
Number of shares remaining	As of June 30, 2025	916,849 shares
	As of December 31, 2024	916,849 shares
Number of shares granted (*2)	As of June 30, 2025	916,849 shares
	As of December 31, 2024	916,849 shares
Subject to		Shares granted for the year 2024
Type of payment		Cash-settled
Vesting period		January 1, 2024 ~ December 31, 2027
Date of payment		2028-01-01
Fair value (*1)		17,601 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		2.5 years
Number of shares remaining	As of June 30, 2025	1,384,504 shares
	As of December 31, 2024	1,384,504 shares
Number of shares granted (*2)	As of June 30, 2025	1,384,504 shares
	As of December 31, 2024	1,384,504 shares
Subject to		Shares granted for the year 2025
Type of payment		Cash-settled
Vesting period		January 1, 2025 ~ December 31, 2028
Date of payment		2029-01-01
Fair value (*1)		16,362 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		3.5 years
Number of shares remaining	As of June 30, 2025	528,061 shares
	As of December 31, 2024	—
Number of shares granted (*2)	As of June 30, 2025	528,061 shares
	As of December 31, 2024	—
(*1)	As the amount of payment varies according to the base price (the arithmetic average of the weighted average<br>stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated to measure the liability according to the Black Scholes model based on the base price at the time of<br>each settlement and used for measuring the liability.
---	---
(*2)	The number of payable stocks is granted at the initial contract date. This is a system in which the number of<br>shares to be granted is determined based on the evaluation results of long-term performance indicators over a total of four years, including the current year, and the final cash compensation is made by reflecting the stock price at the time of<br>payment. Long-term performance indicators include relative shareholder return, common equity ratio, return on equity, net income, selling, general and administrative expenses ratio, non-performing loan ratio,<br>and performance of assigned duties.
---	---
2)	The Group accounts for performance condition share-based payments according to the cash-settled method and the<br>fair value of the liabilities is reflected in the compensation costs by re-measuring every closing period. As of June 30, 2025 and December 31, 2024, the carrying amount of the liabilities related to<br>the performance condition share-based payments recognized by the Group amounts to 70,895 million Won and 62,557 million Won, respectively, including the carrying amount of liabilities related to key management of 29,074 million Won<br>and 16,660 million Won, respectively.
---	---

111 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

30.	NON-OPERATING INCOME (EXPENSES)
(1)	Details of gains or losses on valuation of investments in joint ventures and associates are as follows (Unit:<br>Korean Won in millions):
---	---
	Period ended June 30, 2025						Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Gains on valuation of investments in joint ventures and associates		68,177			84,403			37,032			51,881
Losses on valuation of investments in joint ventures and associates		(6,524	)		(12,715	)		(2,910	)		(12,250	)
Total		61,653			71,688			34,122			39,631
(2)	Details of other non-operating income and expenses recognized are as<br>follows (Unit: Korean Won in millions):
---	---
	Period ended June 30, 2025						Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Other non-operating incomes		29,337			52,516			17,850			29,596
Other non-operating expenses		(12,956	)		(50,838	)		(58,390	)		(82,377	)
Total		16,381			1,678			(40,540	)		(52,781	)
(3)	Details of other non-operating income recognized are as follows (Unit:<br>Korean Won in millions):
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Rental fee income		5,294		10,605		5,065		9,446
Gains on disposal of investments in joint ventures and associates		406		422		359		671
Gains on disposal of Premises and equipment, intangible assets and other assets		15,790		16,165		2,312		2,611
Reversal of impairment losses of Premises and equipment, intangible assets and other<br>assets		899		919		3		23
Others (*)		6,948		24,405		10,111		16,845
Total		29,337		52,516		17,850		29,596
(*)	‘Others’ for the six-month periods ended June 30, 2025<br>and 2024 include 3 million Won and 2,517 million Won, respectively, of other special gain related to other provisions.
---	---
(4)	Details of other non-operating expenses recognized are as follows<br>(Unit: Korean Won in millions):
---	---
	Period ended June 30, 2025				Period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Depreciation on investment properties		1,369		2,766		1,553		5,332
Operating expenses on investment properties		309		630		531		1,142
Losses on disposal of investments in joint ventures and associates		50		241		429		438
Losses on disposal of Premises and equipment, intangible assets and other assets		673		1,060		470		1,313
Impairment losses of Premises and equipment, intangible assets and other assets		100		382		91		1,362
Donation		3,640		19,631		40,086		42,259
Others (*)		6,815		26,128		15,230		30,531
Total		12,956		50,838		58,390		82,377
(*)	Other special losses related to other provisions for the six-month<br>periods ended June 30, 2025 and 2024 are 988 million Won and 17,846 million Won, respectively.
---	---

112 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

31.	INCOME TAX EXPENSE

Details of income tax expenses are as follows (Unit: Korean Won in millions):

	For the six-month periods ended June 30
	2025			2024
Current tax expense:
Current tax expense with respect to the current period		751,933			338,908
Adjustments recognized in the current period in relation to the tax expense of prior<br>periods		9,526			(35,023	)
Income tax expense directly attributable to other equity		(25,910	)		22,760
Sub-total		735,549			326,645
Deferred tax expense
Change in deferred tax assets (liabilities) due to temporary differences		(289,427	)		227,027
Income tax expense (income) directly attributable to equity		7,567			35,729
Others		3,092			1,038
Sub-total		(278,768	)		263,794
Income tax expense		456,781			590,439

Income tax expense was recognized based on the best estimate of the weighted average annual effective tax rate expected for the interim period. The weighted average annual effective tax rate for the June 30, 2025, is 22.3% (The weighted average annual effective tax rate for the June 30, 2024, is 24.7%).

113 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

32.	EARNINGS PER SHARE (“EPS”)
(1)	Basic EPS is calculated by dividing net income attributable to common shareholders by weighted-average number<br>of common shares outstanding (Unit: Korean Won in millions, except for EPS and number of shares):
---	---
	Period ended June 30, 2025						Period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Net income attributable to shareholders		935,328			1,552,019			931,495			1,755,496
Dividends to hybrid securities		(36,166	)		(75,672	)		(39,748	)		(75,007	)
Net income attributable to common shareholders		899,162			1,476,347			891,747			1,680,489
Weighted average number of common shares outstanding (Unit: million shares)		734			736			739			743
Basic EPS (Unit: Korean Won)		1,225			2,006			1,206			2,262
(2)	The weighted average number of common shares outstanding is as follows (Unit: number of shares, days):<br>
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---
	Number of shares			Accumulated number of shares<br>outstanding during period
Common shares issued at the beginning of the period		742,591,501			134,409,061,681
Treasury stocks		(3,082,276	)		(557,891,956	)
Acquisition of treasury stock		(8,515,245	)		(548,504,531	)
Disposal of treasury stock		64			320
Sub-total (①)					133,302,665,514
Weighted average number of common shares outstanding (②=①/181)					736,478,815
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---
	Number of shares			Accumulated number of shares<br>outstanding during period
Common shares issued at the beginning of the period		751,949,461			136,854,801,902
Treasury stocks		(3,427,497	)		(623,804,454	)
Acquisition and retirement of treasury stock		(9,359,792	)		(1,020,278,209	)
Disposal of treasury stock		347,065			25,555,012
Sub-total (①)					135,236,274,251
Weighted average number of common shares outstanding (②=①/182)					743,056,452

Diluted EPS is equal to basic EPS because there is no dilution effect for the six-month periods ended June 30, 2025 and 2024.

114 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

33.	CONTINGENT LIABILITIES AND COMMITMENTS
(1)	Details of guarantees are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Confirmed guarantees
Guarantee for loans		73,941		60,571
Acceptances		399,345		617,599
Guarantees in acceptances of imported goods		58,744		75,265
Other confirmed guarantees		10,276,704		10,337,850
Sub-total		10,808,734		11,091,285
Unconfirmed guarantees
Local letters of credit		190,604		167,580
Letters of credit		2,925,288		3,213,170
Other unconfirmed guarantees		1,610,627		1,558,187
Sub-total		4,726,519		4,938,937
Commercial paper purchase commitments and others		514,329		581,040
Total (*)		16,049,582		16,611,262
(*)	Includes financial guarantees of 4,464,989 million won and 4,156,790 million won as of June 30,<br>2025 and December 31, 2024, respectively.
---	---
(2)	Details of loan commitments and others are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Loan commitments		130,882,088		133,863,588
Other commitments (*)		7,544,605		6,564,353
(*)	As of June 30, 2025 and December 31, 2024, the amount of unsecured bills (purchase bills sales) and<br>discounts on electronic short-term bond sales (purchase) are 2,962,781 million won and 1,992,030 million won, respectively.
---	---
(3)	Litigation case
---	---

Litigation case that the key Group is a defendant in a lawsuit pending (excluding fraud lawsuits and those lawsuits that are filed only to extend the statute of limitation, etc.) are 924 cases (litigation value of 849,299 million Won) and 871 cases (litigation value of 862,669 million Won) as of June 30, 2025 and December 31, 2024 respectively, and provisions for litigations are 29,940 million Won and 23,233 million Won.

115 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Other commitments
1)	The obligations related to guaranteed completion with trust business as of June 30, 2025, are as follows<br>(Unit: Korean Won in millions):
---	---
		cases		Initial PF<br>Commitment<br>Limit		Amount of<br>PF Loans<br>(*3)		Amount of<br>unused PF<br>limit (*4)		Amount<br>of Trust<br>Account<br>Limit (*4)		Amount of<br>Trust<br>Account
---	---	---	---	---	---	---	---	---	---	---	---	---	---
Responsible completion land trust (*1)	Our Responsibility for Completion Deadline Passed (including completed projects)		3		200,000		89,314		105,594		5,700		5,448
Redevelopment Land Trust	Our Obligation to Bear Responsibility for Completion (*2)		1		51,668		17,714		51,668		5,000		4,777
Total			4		251,668		107,028		157,262		10,700		10,225
(*1)	Responsible completion land trust is a trust in which the Woori Asset Trust Co., Ltd., subsidiary, is only<br>liable to the lending financial institution for the completion guarantee obligation in case the contractor fails to fulfill the obligation. If the company is unable to fulfill the completion guarantee obligation, it is responsible for compensating<br>the lending financial institution for any losses incurred.
---	---
(*2)	In redevelopment projects where the Korea Housing & Urban Guarantee Corporation guarantees project<br>financing loans, the project operator is responsible for the completion guarantee obligation according to the standard project agreement terms of the Korea Housing & Urban Guarantee Corporation, but the completion guarantee period has not<br>yet expired as of June 30, 2025.
---	---
(*3)	Since, for projects where it is highly likely that our subsidiary Woori Asset Trust will bear the<br>responsibility for completion and where the possibility and amount of loss can be reliably estimated, these impacts have been reflected in the financial statements at the end of the current period. However, for projects where the risk of Woori Asset<br>Trust bearing the completion guarantee obligations is considered low or where the possibility and amount of loss cannot be reliably estimated, these impacts have not been reflected in the financial statements at the end of the current period.<br>
---	---
(*4)	The trust account limit may be subject to change during the project progress due to reasons such as limit<br>deductions.
---	---
2)	As of June 30, 2025, Woori Asset Trust, a subsidiary, may lend a trust account for a part of the total<br>project cost in relation to 35 debt-type land trust contracts including Boutique Terrace Hotel in Woo-dong, Haeundae-gu, Busan. The maximum loan amount (unused limit) is<br>151,640 million Won. Whether or not Woori Asset Trust lends a trust account in relation to the relevant businesses is not an unconditional payment obligation, and it is determined by considering overall matters such as the unique account and<br>the fund balance plan of each trust business.
---	---
3)	Pursuant to some contracts related to asset securitization, the Group utilizes various prerequisites as<br>triggering events causing early redemption, limiting risks that investors bear due to change in asset quality. Breach of such triggering clause leads to an early redemption of the securitized bonds.
---	---
4)	Since FY2023, An investigation has been conducted by Fair Trade Commission regarding Loan-To-Value ratio. Woori Bank, a subsidiary cannot reasonably estimate its impact on consolidated financial statements.
---	---

116 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

34.	RELATED PARTY TRANSACTIONS

Related parties of the Group as of June 30, 2025 and December 31, 2024, and assets and liabilities recognized, guarantees and commitments, major transactions with related parties and compensation to key management for the six-month periods ended June 30, 2025 and 2024 are as follows. Please refer to Note 12 for the details of joint ventures and associates.

(1)	Assets and liabilities from transactions with related parties are as follows (Unit: Korean Won in millions):<br>
Related parties		Account title	June 30,<br>2025			December 31,<br>2024
---	---	---	---	---	---	---	---	---
Associates	W Service Networks Co., Ltd.	Loans		23			51
		Deposits due to customers		1,251			3,054
		Accrued expenses		40			86
		Other liabilities		346			339
	Korea Credit Bureau Co., Ltd.	Loans		—			1
		Deposits due to customers		697			780
		Accrued expenses		—			13
	Korea Finance Security Co., Ltd.	Loans		3,330			3,225
		Loss allowance		(21	)		(43	)
		Deposits due to customers		1,330			1,145
		Other liabilities		1			3
	LOTTE CARD Co. Ltd.	Loans		13,564			27,913
		Account receivables		26			21
		Loss allowance		(52	)		(297	)
		Derivative asset		2,225			1,075
		Other assets		44			49
		Deposits due to customers		26,385			20,207
		Derivative liabilities		289			—
		Other liabilities		545			273
	K BANK Co., Ltd.	Loans		22			18
		Account receivables		4			32
		Other liabilities		129,361			193,719
	Others (*1)	Loans		55			38,819
		Loss allowance		—			(273	)
		Other assets		59,845			66,088
		Deposits due to customers		2,896			3,575
		Other liabilities		1,657			232
(*1)	Others include Godo Kaisha Oceanos 1 and etc., as of June 30, 2025 and December 31, 2024.<br>
---	---

117 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Gain or loss from transactions with related parties are as follows (Unit: Korean Won in millions):<br>
			For the six-month periods ended<br>June 30
---	---	---	---	---	---	---	---	---
Related parties		Account title	2025			2024
Associates	W Service Network Co., Ltd.	Other incomes		18			—
		Interest expenses		17			19
		Fees expenses		191			264
		Other expenses		521			527
	Korea Credit Bureau Co., Ltd.	Fees expenses		2,564			2,047
		Other expenses		41			79
	Korea Finance Security Co., Ltd.	Interest income		73			72
		Interest expenses		1			2
		Provision (Reversal) of allowance for credit loss		(23	)		(34	)
		Other expenses		13			13
	LOTTE CARD Co., Ltd.	Interest income		732			459
		Fees income		1,940			2,058
		Gain on derivatives		1,150			—
		Loss on derivatives		580			—
		Interest expenses		1,227			2,179
		Provision (Reversal) of allowance for credit loss		(273	)		(8	)
	K BANK Co., Ltd.	Fees income		113			97
	Others (*)	Interest income		124			416
		Fees income		8,591			47,468
		Dividend income		1,201			3,192
		Other income		3,076			1,298
		Interest expenses		7,391			7,334
		Other expenses		1,205			(777	)
		Provision (Reversal) of allowance for credit loss		(272	)		199
(*)	Others include Win Mortgage Co., Ltd. and etc., for the six-month<br>periods ended June 30, 2025 and 2024.
---	---

118 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Major loan transactions with related parties for the six-month periods<br>ended June 30, 2025 and 2024 are as follows (Unit: Korean Won in millions):
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---
Related parties		Beginning<br>balance		Loan		Collection		Others			Ending<br>balance (*)
Associates	W Service Network Co., Ltd.		51		207		235		—			23
	Korea Credit Bureau Co., Ltd.		1		1		2		—			—
	Korea Finance Security Co., Ltd.		3,225		1,539		1,434		—			3,330
	LOTTE CARD Co., Ltd.		27,913		—		13,213		(1,136	)		13,564
	K BANK Co., Ltd.		18		140		136		—			22
	Win Mortgage Co.,Ltd.		8		109		103		—			14
	ARAM CMC CO.LTD		41		—		—		—			41
	Godo Kaisha Oceanos 1		38,770		—		16,346		(22,424	)		—
(*)	Payments that occurred for business reasons among related parties are excluded and net increase or decrease was<br>used for limited credit loan.
---	---
		For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---
Related parties		Beginning<br>balance		Loan		Collection		Others		Ending<br>balance (*)
Associates	W Service Network Co., Ltd.		108		260		342		—		26
	Korea Credit Bureau Co., Ltd.	1		—		1		—		—
	Korea Finance Security Co., Ltd.	3,228		1,096		1,998		—		2,326
	LOTTE CARD Co., Ltd.	12,209		263,306		112,209		586		163,892
	K BANK Co., Ltd.	54		172		205		—		21
	Win Mortgage Co.,Ltd.	15		106		109		—		12
	ARAM CMC CO.LTD	41		—		—		—		41
	Godo Kaisha Oceanos 1	38,121		—		—		(2,339)		35,782
	Woori ZIP 1	11,317		—		—		(600)		10,717
	Woori ZIP 2	16,063		—		—		(851)		15,212
(*)	Payments that occurred for business reasons among related parties are excluded and net increase or decrease was<br>used for limited credit loan.
---	---

119 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Details of changes in major deposits due to customers with related parties for the six-month periods ended June 30, 2025 and 2024 are as follows (Unit: Korean Won in millions):
		For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---
Related parties		Beginning<br>balance		Increase		Decrease		Ending<br>balance (*)
Associates	W Service Networks Co., Ltd		1,000		—		—		1,000
	Win Mortgage Co.,Ltd.	1,387		1,611		1,523		1,475
(*)	Details of payment between related parties, demand deposit due to customers and etc. are excluded.<br>
---	---
		For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---
Related parties		Beginning<br>balance		Increase		Decrease		Ending<br>balance (*)
Associates	W Service Networks Co., Ltd		1,000		1,000		1,000		1,000
	Win Mortgage Co.,Ltd.	600		500		600		500
(*)	Details of payment between related parties, demand deposit due to customers and etc. are excluded.<br>
---	---
(5)	There are no major borrowing transactions with related parties for the<br>six-month periods ended June 30, 2025 and 2024.
---	---
(6)	Guarantees provided to the related parties are as follows (Unit: Korean Won in millions):<br>
---	---
Warrantee	June 30, 2025		December 31, 2024		Warranty
---	---	---	---	---	---
Korea Finance Security Co., Ltd.		530		635	Unused loan commitment
Korea Credit Bureau Co., Ltd.		35		34	Unused loan commitment
W Service Network Co., Ltd.		157		129	Unused loan commitment
K BANK Co., Ltd.		278		282	Unused loan commitment
LOTTE CARD Co. Ltd.		498,300		498,400	Unused loan commitment
LOTTE CARD Co. Ltd.		1,560		1,691	Confirmed Foreign<br>Currency Payment<br>Guarantee
Win Mortgage Co.,Ltd.		36		42	Unused loan commitment

As of June 30, 2025 and December 31, 2024, the recognized payment guarantee provisions are 274 million Won and 272 million Won, respectively, in relation to the guarantees provided to the related parties above.

120 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

(7)	Amount of commitments with the related parties are as follows (Unit: Korean Won in millions):<br>
Warrantee	June 30, 2025		December 31, 2024		Warranty
---	---	---	---	---	---
NH Woori Newdeal Growth Alpha Private Equity Fund 1		15,906		15,906	Securities purchase<br>commitment
Samsung Together Korea IPPF private securities investment trust 3 [Equity-FoFs]		990,000		990,000	Securities purchase<br>commitment
BTS 2nd Private Equity Fund		1,854		1,854	Securities purchase<br>commitment
STASSETS FUND III		3,000		3,000	Securities purchase<br>commitment
Synaptic Future Growth Private Equity Fund 1		3,443		3,443	Securities purchase<br>commitment
IBK KIP Seongjang Dideemdol 1st Private Investment Limited Partnership		4,664		4,664	Securities purchase<br>commitment
Woori Seoul Beltway Private Special Asset Fund No.1		29,007		30,949	Securities purchase<br>commitment
Woori Oncorp Corporate support of Major Industry General Type Private Investment<br>Trust 2		891		60	Securities purchase<br>commitment
Woori Asset Global Partnership Fund No.5		82,500		97,500	Securities purchase<br>commitment
JC Assurance No.2 Private Equity Fund		1,351		1,351	Securities purchase<br>commitment
Crevisse Raim Impact 1st Startup Venture Specialist Private Equity Fund		100		148	Securities purchase<br>commitment
Woori Real Estate Investment No. 1 Limited Liability Company		7,100		7,100	Securities purchase<br>commitment
Woori Future Energy Private Special Asset Investment Trust(General) No.1		33,600		33,600	Securities purchase<br>commitment
LOTTE CARD Co., Ltd.		440,000		350,000	Derivative<br> <br>commitment
(8)	Major investment and Recovery transactions
---	---

For the six-month periods ended June 30, 2025 and 2024, investment and recovery transactions with associates are described in Note 12.(2), and there are no other major investment and recovery transactions.

(9)	Compensation for key management is as follows (Unit: Korean Won in millions):
	For the six-month periods ended June 30
---	---	---	---	---
	2025		2024
Short-term employee salaries		12,428		11,917
Retirement benefit service costs		523		653
Share-based compensation		8,117		4,330
Total		21,068		16,900

Key management includes executives and directors of Woori Financial Group and major subsidiaries, and also includes CEO of other subsidiaries. Outstanding assets from transactions with key management amount to 2,919 million won and 3,523 million won, as of June 30, 2025 and December 31, 2024 respectively and with respect to the assets, the Group has not recognized any allowance nor related impairment loss due to credit losses. Also, liabilities from transaction with key management amount to 67,723 million won and 69,372 million won, respectively, as of June 30, 2025 and December 31, 2024.

121 -

WOORI FINANCIAL GROUP INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

35.	EVENTS AFTER THE REPORTING PERIOD
(1)	On July 25, 2025, the Group’s Board of Directors has declared to pay a quarterly dividend of 200 Won<br>per share (total dividend of 146,804 million Won), with the record date set as of August 10, 2025, and the dividends will be paid on August 29, 2025.
---	---
(2)	On July 1, 2025, the Group acquired 75.34% of the shares of Tongyang Life Insurance Co., Ltd. and 100% of<br>the shares of ABL Life Insurance Co., Ltd., and incorporated them as consolidated subsidiaries.
---	---
(3)	On July 31, 2025, the Group acquired 0.41% shares of Woori Asset Trust Co., Ltd., to make it a wholly<br>owned subsidiary.
---	---

122 -

EX-99.2

Exhibit 99.2

WOORI FINANCIAL GROUP INC.

CONDENSED SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF AND FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

WOORI FINANCIAL GROUP INC.

	Page(s)
Independent Auditors’ Review Report		1-2
Separate Interim Financial Statements
Separate Interim Statements of Financial Position		4
Separate Interim Statements of Comprehensive Income		5
Separate Interim Statements of Changes in Equity		6
Separate Interim Statements of Cash Flows		7
Notes to the Separate Interim Financial Statements		8-37

Independent Auditors’ Review Report

Based on a report originally issued in Korean

To the Board of Directors and Shareholders of Woori Financial Group Inc.

Reviewed Financial Statements

We have reviewed the accompanying condensed separate interim financial statements of Woori Financial Group Inc. (the “Company”), which comprise the condensed separate interim statement of financial position as of June 30, 2025, the condensed separate interim statements of comprehensive income for the three-month and six-month periods ended June 30, 2025, and 2024, the condensed separate interim statements of changes in equity and cash flows for the six-month periods ended June 30, 2025, and 2024 and notes, comprising of material accounting policy information and other explanatory information.

Management’s Responsibility

Management is responsible for the preparation and fair presentation of these condensed separate interim financial statements in accordance with Korean International Financial Reporting Standards (“K-IFRS”) No.1034 Interim Financial Reporting, and for such internal control as management determines is necessary to enable the preparation of the condensed separate interim financial statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Review Responsibility

Our responsibility is to issue a report on these condensed separate interim financial statements based on our reviews.

Conclusion

Based on our reviews, nothing has come to our attention that causes us to believe that the accompanying condensed separate interim financial statements referred to above do not present fairly, in all material respects, in accordance with K-IFRS No.1034 Interim Financial Reporting.

Other Matters

The separate statement of financial position of the Company as of December 31, 2024, and the related separate statements of comprehensive income, changes in equity and cash flows for the year then ended, which are not accompanying this report, were audited by us in accordance with Korean Standards on Auditing and their report thereon, dated March 5, 2025, expressed an unqualified opinion. The accompanying separate statement of financial position of the Company as of December 31, 2024, presented for comparative purposes, is not different from that audited by us from which it was derived in all material respects.

The procedures and practices utilized in the Republic of Korea to review such condensed separate interim financial statements may differ from those generally accepted and applied in other countries.

/s/ KPMG Samjong Accounting Corp.

Seoul, Korea

August 14, 2025

This report is effective as of August 14, 2025, the review report date. Certain subsequent events or circumstances, which may occur between the review report date<br>and the time of reading this report, could have a material impact on the accompanying condensed separate interim financial statements and notes thereto. Accordingly, the readers of the review report should understand that the above review report has<br>not been updated to reflect the impact of such subsequent events or circumstances, if any.

WOORI FINANCIAL GROUP INC.

SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF AND FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024

The accompanying separate interim financial statements including all footnote disclosures were prepared by, and are the responsibility of, the management of Woori Financial Group Inc.

Jong Yong Yim

President and Chief Executive Officer

Main Office Address: (Address) 51, Sogong-ro, Jung-gu, Seoul

(Phone Number) 02-2125-2000

WOORI FINANCIAL GROUP INC.

SEPARATE INTERIM STATEMENTS OF FINANCIAL POSITION

AS OF JUNE 30, 2025 (UNAUDITED) AND DECEMBER 31, 2024

	June 30,<br>2025
	(Korean Won in millions)
ASSETS
Cash and cash equivalents (Notes 5 and 26)		1,689,577		1,185,912
Financial assets at fair value through other comprehensive income (“FVTOCI”) (Notes 4,<br>6 and 8)		563,013		553,518
Loans and other financial assets at amortized cost (Notes 4, 7, 8 and 26)		903,217		204,431
Investments in subsidiaries (Notes 9 and 26)		24,206,017		24,206,017
Premises and equipment		3,898		5,304
Intangible assets		3,317		3,308
Net defined benefit asset (Note 13)		—		1,378
Current tax assets		28,833		33,120
Deferred tax assets		2,055		4,379
Other assets (Note 10)		155,622		155,670
Total assets		27,555,549		26,353,037
LIABILITIES
Debentures (Notes 4, 8 and 11)		2,537,302		2,037,567
Provisions (Note 12)		1,869		1,252
Net defined benefit liability (Note 13)		967		—
Current tax liabilities		568,838		84,701
Other financial liabilities (Notes 4, 8, 14 and 26)		83,188		76,382
Other liabilities (Note 14)		356		404
Total liabilities		3,192,520		2,200,306
EQUITY (Note 15)
Capital stock		3,802,676		3,802,676
Hybrid securities		3,510,737		3,810,225
Capital surplus		8,120,236		11,120,236
Other equity		(144,569	)	(1,189	)
Retained earnings		9,073,949		5,420,783
Total equity		24,363,029		24,152,731
Total liabilities and equity		27,555,549		26,353,037

The accompanying notes are part of these condensed separate interim financial statements.

WOORI FINANCIAL GROUP INC.

SEPARATE INTERIM STATEMENTS OF COMPREHENSIVE INCOME

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024 (UNAUDITED)

	Periods ended June 30, 2025						Periods ended June 30, 2024
	Three-month			Six-month			Three-month			Six-month
	(Korean Won in millions, except for earnings per share data)
Interest income		13,018			21,628			16,113			28,748
Interest expense		(18,209	)		(35,022	)		(11,251	)		(22,567	)
Net interest income (Notes 17 and 26)	****	(5,191	)	****	(13,394	)	****	4,862	****	****	6,181	****
Fees and commissions income		417			876			406			813
Fees and commissions expense		(8,402	)		(13,642	)		(5,409	)		(9,661	)
Net fees and commissions loss (Notes 18 and 26)	****	(7,985	)	****	(12,766	)	****	(5,003	)	****	(8,848	)
Dividend income (Notes 19 and 26)		6,193			1,435,418			6,388			1,195,721
Reversal (Provision) of impairment losses due to credit loss (Notes 20 and 26)		289			(115	)		18			(442	)
General and administrative expenses (Notes 21 and 26)		(21,727	)		(40,148	)		(16,897	)		(34,394	)
Operating income (expense)	****	(28,421	)	****	1,368,995	****	****	(10,632	)	****	1,158,218	****
Non-operating income (expense) (Note<br>22)	****	19	****	****	13	****	****	(45	)	****	(63	)
Net income (expense) before income tax expense	****	(28,402	)	****	1,369,008	****	****	(10,677	)	****	1,158,155	****
Income tax income (expense) (Note 23)		1,133			(212	)		385			(658	)
Net income (loss)	****	(27,269	)	****	1,368,796	****	****	(10,292	)	****	1,157,497	****
Net gain on valuation of equity securities at FVTOCI (Note 15)		4,302			6,988			3,889			4,008
Remeasurement loss related to defined benefit plan (Note 13 and 15)		(141	)		(1,101	)		(297	)		(983	)
Items that will not be reclassified to profit or loss:	****	4,161	****	****	5,887	****	****	3,592	****	****	3,025	****
Other comprehensive income, net of tax	****	4,161	****	****	5,887	****	****	3,592	****	****	3,025	****
Total comprehensive income (loss)	****	(23,108	)	****	1,374,683	****	****	(6,700	)	****	1,160,522	****
Earnings (Loss) per share (Notes 15 and 24)
Basic and diluted earnings (loss) per share (Unit: In Korean Won)		(86	)		1,749			(67	)		1,450

The accompanying notes are part of these condensed separate interim financial statements.

WOORI FINANCIAL GROUP INC.

SEPARATE INTERIM STATEMENTS OF CHANGES IN EQUITY

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024 (UNAUDITED)

	Capitalstock
	(Korean Won in millions)
January 01, 2024		3,802,676	11,120,236		3,610,953		(7,871	)	5,475,004		24,000,998
Total comprehensive income
Net income		—	—		—		—		1,157,497		1,157,497
Net gain on valuation of equity securities at FVTOCI		—	—		—		4,008		—		4,008
Remeasurement loss related to defined benefit plan		—	—		—		(983	)	—		(983	)
Transactions with owners
Dividends to common stocks		—	—		—		—		(614,870	)	(614,870	)
Issuance of hybrid securities		—	—		797,914		—		—		797,914
Dividends to hybrid securities		—	—		—		—		(75,007	)	(75,007	)
Acquisition of treasury stocks		—	—		—		(136,688	)	—		(136,688	)
Retirement of treasury stocks		—	—		—		136,688		(136,688	)	—
June 30, 2024 (Unaudited)		3,802,676	11,120,236		4,408,867		(4,846	)	5,805,936		25,132,869
January 01, 2025		3,802,676	11,120,236		3,810,225		(1,189	)	5,420,783		24,152,731
Total comprehensive income
Net income		—	—		—		—		1,368,796		1,368,796
Net gain on valuation of equity securities at FVTOCI		—	—		—		6,988		—		6,988
Remeasurement loss related to defined benefit plan		—	—		—		(1,101	)	—		(1,101	)
Transactions with owners
Dividends to common stocks		—	—		—		—		(637,502	)	(637,502	)
Issuance of hybrid securities		—	—		398,789		—		—		398,789
Dividends to hybrid securities		—	—		—		—		(75,672	)	(75,672	)
Redemption of hybrid securities		—	—		(698,277	)	(1,723	)	—		(700,000	)
Transfer of redemption loss of hybrid securities to retained earnings		—	—		—		2,456		(2,456	)	—
Acquisition of treasury stocks		—	—		—		(150,000	)	—		(150,000	)
Transfer to retained earnings		—	(3,000,000	)	—		—		3,000,000		—
June 30, 2025 (Unaudited)		3,802,676	8,120,236		3,510,737		(144,569	)	9,073,949		24,363,029

The accompanying notes are part of these condensed separate interim financial statements.

WOORI FINANCIAL GROUP INC.

SEPARATE STATEMENTS OF CASH FLOWS

FOR THE SIX-MONTH PERIODS ENDED JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month periods ended June 30
	2025			2024
	(Korean Won in millions)
Cash flows from operating activities:
Net income		1,368,796			1,157,497
Adjustments to net income:
Income tax expense		212			658
Interest income		(21,628	)		(28,748	)
Interest expense		35,022			22,567
Dividend income		(1,435,418	)		(1,195,721	)
		(1,421,812	)		(1,201,244	)
Adjustments for profit/loss items not involving cash flows:
Provision of impairment losses due to credit loss		115			442
Retirement benefit		2,770			1,956
Depreciation and amortization		2,860			3,080
Gain on disposal of premises and equipment, intangible assets and other assets		(4	)		(5	)
		5,741			5,473
Changes in operating assets and liabilities:
Loans and other financial assets at amortized cost		(14,905	)		(58,739	)
Other assets		47			191
Net defined benefit liability		(1,921	)		1,213
Other financial liabilities		12,689			53,744
Other liabilities		(46	)		(59	)
		(4,136	)		(3,650	)
Interest income received		21,660			30,553
Interest expense paid		(32,792	)		(22,236	)
Dividends received		1,435,668			1,195,747
Income tax paid		(1,967	)		(1,967	)
		1,422,569			1,202,097
Net cash provided by operating activities		1,371,158			1,160,173
Cash flows from investing activities:
Net increase on other investment assets		(200,140	)		(720,000	)
Acquisition of investments in subsidiaries		—			(473,807	)
Acquisition of financial assets at FVTOCI		(150,000	)		—
Disposal of financial assets at FVTOCI		150,000			—
Acquisition of premises and equipment		(63	)		(177	)
Acquisition of intangible assets		(410	)		(303	)
Decrease on guarantee deposits for leases		—			37
		(200,613	)		(1,194,250	)
Cash flows from financing activities:
Issuance of debentures		598,958			—
Redemption of debentures		(100,000	)		—
Issuance of hybrid securities		398,789			797,914
Redemption of hybrid securities		(700,000	)		—
Acquisition of treasury stocks		(149,860	)		(136,688	)
Redemption of lease liabilities		(1,593	)		(1,498	)
Dividends paid to hybrid securities		(75,672	)		(75,007	)
Dividends paid		(637,502	)		(614,870	)
		(666,880	)		(30,149	)
Net increase (decrease) in cash and cash equivalents		503,665			(64,226	)
Cash and cash equivalents, beginning of the period		1,185,912			289,507
Cash and cash equivalents, end of the period (Note 5)		1,689,577			225,281

The accompanying notes are part of these condensed separate interim financial statements.

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

AS OF JUNE 30, 2025 AND 2024 (UNAUDITED)

1.	GENERAL
(1)	Summary of the parent company
---	---

Woori Financial Group, Inc. (hereinafter referred to the “Company”) is primarily aimed at controlling subsidiaries that operate in the financial industry or those that are closely related to the financial industry through the ownership of shares and was established on January 11, 2019 under the Financial Holding Company Act through the comprehensive transfer with shareholders of Woori Bank, Woori FIS Co., Ltd., Woori Finance Research Institute Co., Ltd., Woori Credit Information Co., Ltd., Woori Fund Services Co., Ltd. and Woori Private Equity Asset Management Co. Ltd. The headquarters of the Company is located at 51, Sogong-ro, Jung-gu, Seoul, Korea, and the capital is 3,802,676 million Won. The Company’s stocks were listed on the Korea Exchange on February 13, 2019, and its American Depository Shares (“ADS”) are also being traded as the underlying common stock on the New York Stock Exchange since the same date.

The details of stock transfer from the Company and subsidiaries as of incorporation are as follows (Unit: Number of shares):

Stock transfer company
Woori Bank	676,000,000	1	676,000,000
Woori FIS Co., Ltd.	4,900,000	0.2999708	1,469,857
Woori Finance Research Institute Co., Ltd.	600,000	0.1888165	113,289
Woori Credit Information Co., Ltd.	1,008,000	1.1037292	1,112,559
Woori Fund Service Co., Ltd.	2,000,000	0.4709031	941,806
Woori Private Equity Asset Management Co., Ltd.	6,000,000	0.0877992	526,795

As of August 1, 2019, the Company acquired a 73% interest in Tongyang Asset Management Co., Ltd. and changed the name to Woori Asset Management Corp. Also, as of August 1, 2019, the Company gained 100% control of ABL Global Asset Management Co., Ltd., added it as a consolidated subsidiary and changed the name to Woori Global Asset Management Co., Ltd. on December 6, 2019.

The Company paid 598,391 million Won in cash and 42,103,377 new shares of the Company to acquire 100% interest of Woori Card Co., Ltd. from its subsidiary Woori Bank on September 10, 2019. On the same date, the Company also acquired 59.8% interest of Woori Investment Bank Co., Ltd. from Woori Bank with 392,795 million Won in cash.

As of December 30, 2019, the Company acquired 67.2% interests (excluding treasury stock, 51.0% when including treasury stock) in Woori Asset Trust Co. (formerly Kukje Asset Trust Co.) In addition, as of March 31, 2023, the Company acquired an additional 28.1% interests in Woori Asset Trust Co. (excluding treasury stock, 21.3% when including treasury stock).

As of December 10, 2020, the Company acquired 76.8% interests (excluding treasury stock, 74.0% when including treasury stock) in Woori Financial Capital Co., Ltd. (formerly Aju Capital Co., Ltd.). In addition, as of April 15, 2021, the Company acquired an additional 13.3% interests in Woori Financial Capital Co., Ltd. (excluding treasury stock, 12.9% in the case of including treasury stock), and as of May 24, 2021, the Company additionally acquired treasury stock(3.6%) which Woori Financial Capital possessed.

As of March 12, 2021, the Company paid 113,238 million Won in cash to acquire 100% interests on Woori Savings Bank from Woori Financial Capital Co., Ltd., our subsidiary.

As of August 10, 2021, the Company paid 5,792,866 new shares of the Company to the shareholders of Woori Financial Capital Co., Ltd. (excluding the Company) through comprehensive stock exchange and acquired residual interest (9.5%) of Woori Financial Capital Co., Ltd., to make it a wholly owned subsidiary.

As of January 7, 2022, Woori Financial F&I Co., Ltd., an investment company for non-performing loans and restructuring companies, was established (100% stock, 200 billion Won in stock payments) and incorporated as a subsidiary.

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

As of March 23, 2023, the Company acquired 53.9% interests in Woori Venture Partners Co., Ltd. (formerly Daol Investment Co., Ltd.) (excluding treasury stock, 52.0% in the case of including treasury stock). In addition, as of May 30, 2023, the Company additionally acquired treasury stock held by Woori Venture Partners Co., Ltd. (3.5%).

As of August 8, 2023, the Company paid 22,541,465 new shares of the Company to the shareholders of Woori Investment Bank Co., Ltd. (excluding the Company) through comprehensive stock exchange and acquired residual interest (41.3%) of Woori Investment Bank Co., Ltd., to make it a wholly owned subsidiary. In addition, on the same day, the Company paid 9,933,246 new shares of the Company to the shareholders of Woori Venture Partners Co., Ltd. (excluding the Company) through comprehensive stock exchange and acquired residual interest (44.5%) of Woori Venture Partners Co., Ltd., to make it a wholly owned subsidiary.

As of January 29, 2024, the Company owned interest (77.5%) of Woori Asset Management Corp, as a result of merger with Woori Asset Management Corp (surviving company) and Woori Global Asset Management Co., Ltd. (dissolution company), which was liquidated. As of March 29, 2024, the Company acquired residual interest(22.5%) of Woori Asset Management Corp, to make it a wholly owned subsidiary.

On March 25, 2024, the Company participated in the capital increase and acquired the 1,062,045 shares (96.7% after acquiring shares, 79.4% including treasury shares) of Woori Asset Trust Co., Ltd. Additionally, on March 29, 2024, Woori Asset Trust Co., Ltd. conducted a complete retirement of its 738,000 treasury shares. In addition, as of April 8, 2024, the Company additionally acquired minority interests (2.0%) of Woori Asset Trust Co., Ltd.. Afterward, the Company additionally acquired minority interests (0.9%) of Woori Asset Trust Co., Ltd. as of November 19, 2024.

2.	BASIS OF PREPARATION AND MATERIAL ACCOUNTING POLICIES

The Company’s financial statements are condensed interim financial statements prepared in accordance with Korean IFRS 1034, Interim Financial Reporting for some of periods in which the annual separate financial statements belong. They are also separate financial statements prepared in accordance with Korean IFRS 1027 Separate Financial Statements. It is necessary to use the Company’s annual separate financial statements for the year ended December 31, 2024 for understanding of the accompanying condensed interim financial statements. The accompanying condensed interim financial statements contain less information compared to the information required in the annual financial statements. Selective footnotes include explanations of transactions or events that are significant for understanding the changes in the financial position and performance of the Company since the end of the previous annual reporting period.

(1)	From the accounting period beginning on January 1, 2025, the Company has newly applied the following<br>standards and interpretations.
1)	Amendments to K-IFRS 1021 ‘The Effects of Changes in ForeignExchange Rates’ and K-IFRS 1101 ‘First-time Adoption of International Financial Reporting Standards’ – Lack of Exchangeability
---	---

When an entity estimates a spot exchange rate because exchangeability between two currencies is lacking, the entity shall disclose related information. The amendments do not have a significant impact on the financial statements.

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	The details of K-IFRSs that have been issued and published since<br>January 1, 2025 but have not yet reached the effective date are as follows:
1)	Amendments to K-IFRS 1109 ‘Financial Instruments’, K-IFRS 1107 ‘Financial Instruments: Disclosures’
---	---

K-IFRS 1109 ‘Financial Instruments’ and K-IFRS 1107 ‘Financial Instruments: Disclosures’ have been amended to respond to recent questions arising in practice, and to include new requirements. The amendments should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The company is currently reviewing the impact of this amendment on the financial statements.

•	clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception<br>for some financial liabilities settled through an electronic cash transfer system;
•	clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal<br>and interest (SPPI) criterion;
---	---
•	add new disclosures of impact on the entity and the extent to which the entity is exposed for each type of<br>financial instruments if the timing or amount of contractual cash flow changes due to amendment of contract term; and
---	---
•	update the disclosures for equity instruments designated at fair value through other comprehensive income<br>(FVOCI).
---	---
2)	Annual Improvements to K-IFRS – ‘Volume 11’<br>
---	---

Annual Improvements to K-IFRS – ‘Volume 11’ should be applied for annual periods beginning on or after January 1, 2026, and earlier application is permitted. The Company does not expect the amendments to have a significant impact on the financial statements.

•	K-IFRS 1101 ‘First-time Adoption of International FinancialReporting Standards’: Hedge accounting by a first-time adopter
•	K-IFRS 1107 ‘Financial Instruments: Disclosures’: Gain<br>or loss on derecognition, and implementation guidance
---	---
•	K-IFRS 1109 ‘Financial Instruments’: Derecognition of<br>lease liabilities and definition of transaction price
---	---
•	K-IFRS 1110 ‘Consolidated Financial Statements’:<br>Determination of a ‘de facto agent’
---	---
•	K-IFRS 1007 ‘Statement of Cash Flows’: Cost method<br>
---	---
(3)	Material accounting policies and method of computation used in the preparation of the condensed interim<br>financial statements are consistent with those of the annual financial statements for the year ended December 31, 2024, except for the one described below.
---	---
•	Income tax expense
---	---

Income tax expense for the interim period is recognized based on the weighted average annual income tax rate expected for the expected gross annual profit. The estimated average annual tax rate is applied to the pre-tax income.

3.	MATERIAL ACCOUNTING ESTIMATES AND ASSUMPTIONS

The management shall make judgements, estimates and assumptions that affect the application of accounting policies and assets, liabilities, revenues and expenses in preparing condensed interim financial statements. Therefore, the actual results may differ from these estimates.

The important judgements by the management excluding the estimation methods used to determine corporate income tax expense on accounting policies and the main sources of estimation uncertainty for preparing condensed interim financial statements are identical to ones used in the Company’s annual separate financial statements for the year ended December 31, 2024.

10 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

4.	RISK MANAGEMENT

The Company is exposed to various risks that may arise from its operating activities and credit risk, market risk and liquidity risk are the main types of risks. In order to manage such risks, the Risk Management Department analyzes, assesses, and establishes risk management standards, including policies, guidelines, management systems and decision-making to ensure sound management of the Company.

The Risk Management Committee, Chief Risk Officer (“CRO”) and the Risk Management Department are operated as risk management organizations. The Board of Directors operates the Risk Management Committee, composed of nonexecutive directors for professional risk management. The Risk Management Committee performs as the top decision-making body for risk management by establishing fundamental risk management policies that are consistent with the Company’s management strategy and by determining the Company’s acceptable level of risk.

CRO assists the Risk Management Committee and operates the Company Risk Management Council, which is composed of the risk management managers of the subsidiaries, to periodically check and improve the external environment and the Company’s risk burden. The Risk Management Department which is independently structured, controls the risk management matter of the Company and reports key risks and assists decision-making.

(1) Credit risk

Credit risk represents the possibility of financial losses incurred due to the refusal of the transaction or when the counterparty fails to fulfill its contractual obligations. The goal of credit risk management is to maintain the Company’s credit risk exposure to a permissible degree and to optimize its rate of return considering such credit risk.

1)	Credit risk management

The Company measures expected loss on assets subject to credit risk management and uses it as a management indicator.

2)	Maximum exposure

The maximum exposure to credit risk is as follows (Unit: Korean Won in millions):


Loans and other financial assets at amortized cost	Government	1	1
	Banks	848,292	165,144
	Corporates	54,924	39,286
	Total	903,217	204,431

11 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

a)	Credit risk exposure by geographical areas

The following tables analyze credit risk exposure by geographical areas (Unit: Korean Won in millions):

	June 30, 2025		December 31, 2024
	Korea		Korea
Loans and other financial assets at amortized cost		903,217		204,431
b)	Credit risk exposure by industries
---	---

The following tables analyze credit risk exposure by industries, which are finance and insurance, and others in accordance with the Korea Standard Industrial Classification Code as of June 30, 2025 and December 31, 2024 (Unit: Korean Won in millions):

	June 30, 2025
	Finance and<br>insurance		Others		Total
Loans and other financial assets at amortized cost		902,383		834		903,217
	December 31, 2024
---	---	---	---	---	---	---
	Finance and<br>insurance		Others		Total
Loans and other financial assets at amortized cost		203,262		1,169		204,431
3)	Credit risk exposure
---	---

The maximum exposure to credit risk by asset quality as of June 30, 2025 and December 31, 2024 is as follows (Unit: Korean Won in millions):

	June 30, 2025
	Stage 1				Stage 2				Stage 3		Total		Loss<br>allowance			Total, net
Financial assets	Above<br>appropriate<br>credit rating<br>(*1)		Less than<br>a limited<br>credit rating<br>(*2)		Above<br>appropriate<br>credit<br>rating (*1)		Less than a<br>limited credit<br>rating<br>(*2)
Loans and other financial assets at amortized cost		903,388		—		—		—		—		903,388		(171	)		903,217
Government		1		—		—		—		—		1		—			1
Banks		848,461		—		—		—		—		848,461		(169	)		848,292
Corporates		54,926		—		—		—		—		54,926		(2	)		54,924
General business		54,926		—		—		—		—		54,926		(2	)		54,924
Total		903,388		—		—		—		—		903,388		(171	)		903,217
(*1)	Credit grade of corporates are AAA ~ BBB.
---	---
(*2)	Credit grade of corporates are BBB- ~ C.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Stage 1				Stage 2				Stage 3		Total		Loss<br>allowance			Total, net
Financial assets	Above<br>appropriate<br>credit<br>rating (*1)		Less<br>than a<br>limited<br>credit<br>rating<br>(*2)		Above<br>appropriate<br>credit<br>rating (*1)		Less<br>than a<br>limited<br>credit<br>rating<br>(*2)
Loans and other financial assets at amortized cost		204,487		—		—		—		—		204,487		(56	)		204,431
Government		1		—		—		—		—		1		—			1
Banks		165,200		—		—		—		—		165,200		(56	)		165,144
Corporates		39,286		—		—		—		—		39,286		—			39,286
General business		39,286		—		—		—		—		39,286		—			39,286
Total		204,487		—		—		—		—		204,487		(56	)		204,431
(*1)	Credit grade of corporates are AAA ~ BBB.
---	---
(*2)	Credit grade of corporates are BBB- ~ C.
---	---

12 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Market risk

The Company estimates and manages risks related to changes in interest rate due to the difference in the maturities of interest-bearing assets and liabilities and discrepancies in the terms of interest rates.

(3) Liquidity risk

Liquidity risk refers to the risk that the Company may encounter difficulties in meeting obligations from its financial liabilities.

1)	Liquidity risk management

Liquidity risk management is to prevent damages from potential liquidity shortages with effective risk management that could arise from mismatching the maturity of assets and liabilities or unexpected cash outflows. The financial liabilities in the statement of financial position that are relevant to liquidity risk are incorporated within the scope of risk management.

The Company manages liquidity risk through various cash flows analysis (i.e. based on remaining maturity and contract period, etc.).

2)	Maturity analysis of non-derivative financial liabilities<br>

Cash flows of principals and interests by remaining contractual maturities of non-derivative financial liabilities are as follows (Unit: Korean Won in millions):

	June 30, 2025
	Within 3<br>months		4 to 6<br>months		7 to 9<br>months		10 to 12<br>months		1 to 5<br>years		Over<br>5 years		Total
Debentures		226,849		16,267		96,047		175,267		2,125,598		61,366		2,701,394
Lease liabilities		804		800		181		83		369		—		2,237
Other financial liabilities(*)		14,853		5,479		388		6,305		53,965		—		80,990
Total		242,506		22,546		96,616		181,655		2,179,932		61,366		2,784,621
(*)	It does not include lease liabilities.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Within 3<br>months		4 to 6<br>months		7 to 9<br>months		10 to 12<br>months		1 to 5<br>years		Over<br>5 years		Total
Debentures		14,965		114,700		222,634		12,083		1,770,174		62,019		2,196,575
Lease liabilities		778		776		772		769		328		—		3,423
Other financial liabilities(*)		19,176		—		8,768		281		44,798		—		73,023
Total		34,919		115,476		232,174		13,133		1,815,300		62,019		2,273,021
(*)	It does not include lease liabilities.
---	---
3)	Maturity analysis of derivative financial liabilities
---	---

There are no derivative financial liabilities measured at fair value through profit or loss as of June 30, 2025 and December 31, 2024.

13 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

5.	CASH AND CASH EQUIVALENTS

Details of cash and cash equivalents are as follows (Unit: Korean Won in millions):

	June 30, 2025		December 31, 2024
Demand deposits		1,432,577		11,912
Fixed deposits		257,000		1,174,000
Total		1,689,577		1,185,912
6.	FINANCIAL ASSETS AT FVTOCI
---	---
(1)	Details of financial assets at FVTOCI as of June 30, 2025 and December 31, 2024 are as follows (Unit:<br>Korean Won in millions):
---	---
	Issuer	June 30, 2025		December 31, 2024
---	---	---	---	---	---
Hybrid securities	Woori Card Co., Ltd.		363,817		357,093
	Woori Financial Capital Co., Ltd.		199,196		196,425
	Total		563,013		553,518
(2)	Details of equity securities designated as financial assets at FVTOCI as of June 30, 2025 and<br>December 31, 2024 are as follows (Unit: Korean Won in millions):
---	---
Purpose of acquisition	Issuer	June 30, 2025		December 31, 2024
---	---	---	---	---	---
Investment for political purpose	Woori Card Co., Ltd.		363,817		357,093
	Woori Financial Capital Co., Ltd.		199,196		196,425
	Total		563,013		553,518
7.	LOANS AND OTHER FINANCIAL ASSETS AT AMORTIZED COST
---	---
(1)	Details of loans and other financial assets at amortized cost as of June 30, 2025 and December 31,<br>2024 are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Due from banks		299,972		99,944
Other financial assets		603,245		104,487
Total		903,217		204,431
(2)	Details of due from banks are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Due from banks in local currency:
Due from depository banks		300,000			100,000
Others		140			—
Loss allowance		(168	)		(56	)
Total		299,972			99,944

14 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Changes in the allowance for credit losses and gross carrying amount of due from banks are as follows (Unit:<br>Korean Won in millions):
1)	Allowance for credit losses
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(56	)		—		—		(56	)
Provision of allowance for credit loss		(112	)		—		—		(112	)
Ending balance		(168	)		—		—		(168	)
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(654	)		—		—		(654	)
Provision of allowance for credit loss		(442	)		—		—		(442	)
Ending balance		(1,096	)		—		—		(1,096	)
2)	Gross carrying amount
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---
	Stage 1		Stage 2		Stage 3		Total
Beginning balance		100,000		—		—		100,000
Net increase		200,140		—		—		200,140
Ending balance		300,140		—		—		300,140
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Stage 1		Stage 2		Stage 3		Total
Beginning balance		1,074,000		—		—		1,074,000
Net increase		720,000		—		—		720,000
Ending balance		1,794,000		—		—		1,794,000
(4)	Details of other financial assets are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---
Receivables		595,691			95,857
Accrued income		5,414			6,520
Lease deposits		2,142			2,109
Other assets		1			1
Loss allowance		(3	)		—
Total		603,245			104,487
(5)	Changes in the allowances for credit losses and gross carrying amount of other financial assets are as follows<br>(Unit: Korean Won in millions):
---	---
1)	Allowance for credit losses
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		—			—		—		—
Provision of allowance for credit loss		(3	)		—		—		(3	)
Ending balance		(3	)		—		—		(3	)

15 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Stage 1			Stage 2		Stage 3		Total
Beginning balance		(9	)		—		—		(9	)
Provision of allowance for credit loss		—			—		—		—
Ending balance		(9	)		—		—		(9	)
2)	Gross carrying amount
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---
	Stage 1		Stage 2		Stage 3		Total
Beginning balance		104,487		—		—		104,487
Net increase		498,761		—		—		498,761
Ending balance		603,248		—		—		603,248
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Stage 1		Stage 2		Stage 3		Total
Beginning balance		31,478		—		—		31,478
Net increase		128,047		—		—		128,047
Ending balance		159,525		—		—		159,525
8.	FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES
---	---
(1)	The fair value hierarchy
---	---

The fair value hierarchy is determined by the levels of judgment involved in estimating fair values of financial assets and liabilities. The specific financial instruments characteristics and market condition such as volume of transactions and transparency are reflected to the market observable inputs. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities. The Company maximizes the use of observable inputs and minimizes the use of unobservable inputs when measuring the fair value of its financial assets and financial liabilities. Fair value is measured based on the perspective of a market participant. As such, even when market assumptions are not readily available, the Company’s own assumptions reflect those that market participants would use for measuring the assets or liabilities at the measurement date.

The fair value measurement is described in the one of the following three levels used to classify fair value measurements:

•	Level 1—fair value measurements are those derived from quoted prices (unadjusted) in active markets for<br>identical assets or liabilities. The types of financial assets or liabilities generally included in Level 1 are publicly traded equity securities, derivatives, and debt securities issued by governmental bodies.
•	Level 2— fair value measurements are those derived from inputs other than quoted prices included<br>within Level 1 that are observable for the asset or liability, either directly (i.e. prices) or indirectly (i.e. derived from prices). The types of financial assets or liabilities generally included in Level 2 are debt securities not<br>traded in active markets and derivatives traded in OTC but not required significant judgment.
---	---
•	Level 3— fair value measurements are those derived from valuation techniques that include inputs for<br>the assets or liabilities that are not based on observable market data (unobservable inputs). The types of financial assets or liabilities generally included in Level 3 are non-public securities and<br>derivatives and debt securities of which valuation techniques require significant judgments and subjectivity.
---	---

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to a fair value measurement in its entirety requires judgment and consideration of inherent factors of the asset or liability.

16 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Fair value hierarchy of financial assets and liabilities measured at fair value are as follows (Unit: Korean<br>Won in millions):
	June 30, 2025
---	---	---	---	---	---	---	---	---
	Level 1		Level 2		Level 3		Total
Financial assets:
Financial assets at FVTOCI
Hybrid securities		—		—		563,013		563,013
	December 31, 2024
---	---	---	---	---	---	---	---	---
	Level 1		Level 2		Level 3		Total
Financial assets:
Financial assets at FVTOCI
Hybrid securities		—		—		553,518		553,518

Financial assets measured at FVTPL and financial assets measured at FVTOCI are recognized at fair value. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.

Financial instruments are measured at fair value using a quoted market price in active markets. If there is no active market for a financial instrument, the Company determines the fair value using valuation methods. Valuation methods and input variables for each type of financial instruments are as follows:

	Valuation methods	Input variables
Hybrid securities	The fair value is measured using the Hull and White model and the Monte Carlo Simulations.	YTM Matrix, Additive spread by grade, Risk spread by entity, Effective Credit rating, Issuing information by item, Interest rate volatility estimate

Valuation methods of financial assets and liabilities measured at fair value and classified into Level 3 and significant but unobservable inputs are as follows:

	Fair value<br>measurement<br>technique	Type	Significant<br>unobservable<br>inputs	Range	Impact of changes in significant<br>unobservable inputs on fair value<br>measurement
Hybrid securities	Hull and White, Monte Carlo Simulation	Hybrid<br><br><br>securities<br> <br>related	Estimated volatility of interest rate, Discount rate	Estimated volatility of interest rate 0.55%<br><br><br>Discount rate<br> <br>3.00% ~<br>6.04%	Variation of fair value increases as estimated volatility of interest rate increases.

The fair value of financial assets classified as level 3 uses external valuation figures.

(3)	Changes in financial assets and liabilities measured at fair value classified into Level 3 are as follows<br>(Unit: Korean Won in millions):
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
	Beginning<br>balance		Net<br>Income		Other<br>comprehensive<br>income		Purchases/<br>Issuances		Disposals/<br>Settlements			Transfer to or<br>out of Level 3		Ending<br>balance
Financial assets:
Financial assets at FVTOCI
Hybrid securities		553,518		—		9,495		150,000		(150,000	)		—		563,013

17 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30, 2024
	Beginning<br>balance		Net<br>Income		Other<br>comprehensive<br>income		Purchases/<br>Issuances		Disposals/<br>Settlements		Transfer to or<br>out of Level 3		Ending<br>balance
Financial assets:
Financial assets at FVTOCI
Hybrid securities		539,709		—		5,444		—		—		—		545,153
(4)	Sensitivity analysis results on reasonable fluctuation of the significant unobservable input variables for the<br>fair value of Level 3 financial instruments are as follows.
---	---

The sensitivity analysis on financial instruments shows how changes in unobservable inputs affect changes in fair value of the instruments through favorable and unfavorable changes. When the fair value of a financial instrument is affected by more than one unobservable assumption, the below table reflects the most favorable or the most unfavorable changes which resulted from varying the assumptions individually. The sensitivity analysis was performed for hybrid securities of which fair value changes are recognized as other comprehensive income among level 3 financial instruments.

The following table presents the sensitivity analysis to disclose the effect of reasonably possible volatility(Unit: Korean Won in millions):

	June 30, 2025
	Net income				Other comprehensive income (loss)
	Favorable		Unfavorable		Favorable		Unfavorable
Financial assets:
Financial assets at FVTOCI
Hybrid securities (*)		—		—		16,125		(15,570	)
(*)	Fair value changes of hybrid securities are calculated by increasing or decreasing discount rate, which is the<br>major unobservable variable, by 1%, respectively.
---	---
	December 31, 2024
---	---	---	---	---	---	---	---	---	---
	Net income				Other comprehensive income (loss)
	Favorable		Unfavorable		Favorable		Unfavorable
Financial assets:
Financial assets at FVTOCI
Hybrid securities (*)		—		—		11,910		(11,567	)
(*)	Fair value changes of hybrid securities are calculated by increasing or decreasing discount rate, which is the<br>major unobservable variable, by 1%, respectively.
---	---
(5)	Fair value and carrying amount of financial assets and liabilities that are recorded at amortized cost are as<br>follows (Unit: Korean Won in millions):
---	---
	June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
	Fair value								Carrying amount
	Level 1		Level 2		Level 3		Total
Financial assets:
Loans and other financial assets at amortized cost (*1)		—		—		903,217		903,217		903,217
Financial liabilities:
Debentures		—		2,533,786		—		2,533,786		2,537,302
Other financial liabilities (*1,2)		—		—		80,991		80,991		80,991
(*1)	The carrying amount is disclosed at fair value considering the carrying amount as an approximation of fair<br>value.
---	---
(*2)	It does not include lease liabilities.
---	---

18 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

	December 31, 2024
	Fair value								Carrying amount
	Level 1		Level 2		Level 3		Total
Financial assets:
Loans and other financial assets at amortized cost (*1)		—		—		204,431		204,431		204,431
Financial liabilities:
Debentures		—		2,010,571		—		2,010,571		2,037,567
Other financial liabilities (*1,2)		—		—		73,023		73,023		73,023
(*1)	The carrying amount is disclosed at fair value considering the carrying amount as an approximation of fair<br>value.
---	---
(*2)	It does not include lease liabilities.
---	---

The fair values of financial instruments are measured using quoted market price in active markets. In case there is no active market for financial instruments, the Company determines the fair value using valuation methods. For the disclosed items in which book value is considered to be the approximate value of fair value, valuation techniques and input variables are not disclosed. Valuation techniques and input variables for the fair value of financial liabilities that are recorded at amortized cost are as follows:

	Valuation methods	Input variables
Debentures	The fair value is measured by discounting the projected cash flows of debt products by applying the market discount rate that is reflecting credit rating of the Company.	Risk-free market rate, etc.
(6)	Financial instruments by category
---	---

Carrying amounts of financial assets and liabilities by each category are as follows (Unit: Korean Won in millions):

1)	Financial assets
	June 30, 2025
---	---	---	---	---	---	---	---	---
Financial assets	Financial assets at<br>FVTPL		Financial assets at<br>FVTOCI		Financial assets at<br>amortized cost		Total
Due from banks		—		—		299,972		299,972
Hybrid securities		—		563,013		—		563,013
Other financial assets		—		—		603,245		603,245
Total		—		563,013		903,217		1,466,230
	December 31, 2024
---	---	---	---	---	---	---	---	---
Financial assets	Financial assets at<br>FVTPL		Financial assets at<br>FVTOCI		Financial assets at<br>amortized cost		Total
Due from banks		—		—		99,944		99,944
Hybrid securities		—		553,518		—		553,518
Other financial assets		—		—		104,487		104,487
Total		—		553,518		204,431		757,949
2)	Financial liabilities
---	---
	June 30, 2025				December 31, 2024
---	---	---	---	---	---	---	---	---
Financial liabilities	Financial liabilities at<br>FVTPL		Financial liabilities at<br>amortized cost		Financial liabilities at<br>FVTPL		Financial<br>liabilities at<br>amortized cost
Debentures		—		2,537,302		—		2,037,567
Other financial liabilities (*)		—		80,991		—		73,023
Total		—		2,618,293		—		2,110,590
(*)	It does not include lease liabilities.
---	---

19 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

9.	INVESTMENTS IN SUBSIDIARIES
(1)	Details of Investments in subsidiaries are as follows (Unit: Korean Won in millions and number of shares):<br>
---	---
Subsidiaries (*1)	Location	Capital<br>stock		Main business
---	---	---	---	---
Woori Bank	Korea		3,581,400	Bank
Woori Card Co., Ltd.	Korea		896,300	Finance
Woori Financial Capital Co., Ltd.	Korea		373,800	Finance
Woori Investment Securities Co., Ltd.	Korea		242,900	Investment Brokerage
Woori Asset Trust Co., Ltd.	Korea		16,900	Real estate trust
Woori Savings Bank	Korea		187,400	Mutual saving bank
Woori F&I Co., Ltd.	Korea		31,500	Finance
Woori Asset Management Corp	Korea		24,000	Finance
Woori Venture Partners Co., Ltd.	Korea		50,000	Other financial<br>services
Woori Private Equity Asset Management Co., Ltd.	Korea		80,000	Finance
Woori Credit Information Co., Ltd.	Korea		5,000	Credit information
Woori Fund Service Co., Ltd.	Korea		10,000	Financial support<br>service business
Woori FIS Co., Ltd.	Korea		24,500	System software<br> <br>development &<br>maintenance
Woori Finance Research Institute Co., Ltd.	Korea		3,000	Other service<br>business
	June 30, 2025						December 31, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
Subsidiaries (*1)	Number of<br>shares		Percentage of<br>ownership<br>(%) (*2)		Financial<br>statements<br>date of use		Number of<br>shares		Percentage of<br>ownership<br>(%) (*2)		Financial<br>statements<br>date of use
Woori Bank		716,000,000		100.0		June 30, 2025		716,000,000		100.0		December 31, 2024
Woori Card Co., Ltd.		179,266,200		100.0		June 30, 2025		179,266,200		100.0		December 31, 2024
Woori Financial Capital Co., Ltd.		74,757,594		100.0		June 30, 2025		74,757,594		100.0		December 31, 2024
Woori Investment Securities Co., Ltd.		483,141,111		99.5		June 30, 2025		483,141,111		99.5		December 31, 2024
Woori Asset Trust Co., Ltd.		3,368,645		99.6		June 30, 2025		3,368,645		99.6		December 31, 2024
Woori Savings Bank		37,476,895		100.0		June 30, 2025		37,476,895		100.0		December 31, 2024
Woori F&I Co., Ltd.		6,298,895		100.0		June 30, 2025		6,298,895		100.0		December 31, 2024
Woori Asset Management Corp		4,797,154		100.0		June 30, 2025		4,797,154		100.0		December 31, 2024
Woori Venture Partners Co., Ltd.		100,000,000		100.0		June 30, 2025		100,000,000		100.0		December 31, 2024
Woori Private Equity Asset Management Co., Ltd.		16,000,000		100.0		June 30, 2025		16,000,000		100.0		December 31, 2024
Woori Credit Information Co., Ltd.		1,008,000		100.0		June 30, 2025		1,008,000		100.0		December 31, 2024
Woori Fund Service Co., Ltd.		2,000,000		100.0		June 30, 2025		2,000,000		100.0		December 31, 2024
Woori FIS Co., Ltd.		4,900,000		100.0		June 30, 2025		4,900,000		100.0		December 31, 2024
Woori Finance Research Institute Co., Ltd.		600,000		100.0		June 30, 2025		600,000		100.0		December 31, 2024
(*1)	Only subsidiaries invested directly by the Company are included.
---	---
(*2)	The percentage is based on the effective shareholding rate relative to the number of stocks outstanding.<br>
---	---

20 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Changes in the carrying value of investments in subsidiaries are as follows (Unit: Korean Won in millions):<br>
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---
	Beginning balance		Acquisition		Disposal		Ending balance
Woori Bank		18,921,151		—		—		18,921,151
Woori Card Co., Ltd.		1,118,367		—		—		1,118,367
Woori Financial Capital Co., Ltd.		1,003,206		—		—		1,003,206
Woori Investment Securities Co., Ltd.		1,263,436		—		—		1,263,436
Woori Asset Trust Co., Ltd.		621,722		—		—		621,722
Woori Savings Bank		313,238		—		—		313,238
Woori F&I Co., Ltd.		320,000		—		—		320,000
Woori Asset Management Corp		196,825		—		—		196,825
Woori Venture Partners Co., Ltd.		336,439		—		—		336,439
Woori Private Equity Asset Management Co., Ltd.		57,797		—		—		57,797
Woori Credit Information Co., Ltd.		16,466		—		—		16,466
Woori Fund Service Co., Ltd.		13,939		—		—		13,939
Woori FIS Co., Ltd.		21,754		—		—		21,754
Woori Finance Research Institute Co., Ltd.		1,677		—		—		1,677
Total		24,206,017		—		—		24,206,017
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Beginning balance		Acquisition		Disposal		Ending balance
Woori Bank		18,921,151		—		—		18,921,151
Woori Card Co., Ltd.		1,118,367		—		—		1,118,367
Woori Financial Capital Co., Ltd.		1,003,206		—		—		1,003,206
Woori Investment Bank Co., Ltd.		1,207,351		—		—		1,207,351
Woori Asset Trust Co., Ltd.(*1)		403,642		212,430		—		616,072
Woori Savings Bank(*2)		213,238		100,000		—		313,238
Woori F&I Co., Ltd. (*3)		200,000		120,000		—		320,000
Woori Asset Management Corp(*4)		122,449		74,376		—		196,825
Woori Venture Partners Co., Ltd.		336,439		—		—		336,439
Woori Private Equity Asset Management Co., Ltd.		57,797		—		—		57,797
Woori Credit Information Co., Ltd.		16,466		—		—		16,466
Woori Fund Service Co., Ltd.		13,939		—		—		13,939
Woori FIS Co., Ltd.		21,754		—		—		21,754
Woori Finance Research Institute Co., Ltd.		1,677		—		—		1,677
Woori Global Asset Management Co., Ltd.(*5)		33,000		—		33,000		—
Total		23,670,476		506,806		33,000		24,144,282
(*1)	The capital increase amount of 200,000 million Won was made in March 2024, and the Company additionally<br>acquired minority interests of 1.95% in April 2024.
---	---
(*2)	The capital increase amount of 100,000 million Won was made in June 2024.
---	---
(*3)	The capital increase amount of 120,000 million Won was made in May 2024.
---	---
(*4)	On January 29, 2024, Woori Asset Management Corp merged with Woori Global Asset Management Co., Ltd. and<br>the Company acquired residual interest (22.5%) of Woori Asset Management Corp, to make it wholly subordinated.
---	---
(*5)	On January 29, 2024, it was merged into Woori Asset Management Corp and excluded from our subsidiaries.<br>
---	---

21 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

10.	OTHER ASSETS

Details of other assets are as follows (Unit: Korean Won in millions):

	June 30, 2025
Prepaid expenses		233	281
Advance payments		155,389	155,389
		155,622	155,670
11.	DEBENTURES
---	---

Details of debentures are as follows (Unit: Korean Won in millions):

	June 30, 2025					December 31, 2024
	Interest rate (%)		Amount			Interest rate (%)		Amount
Face value of bonds:
General bonds		2.19~4.25		1,590,000			2.19~4.25		1,090,000
Subordinated bonds		2.13~2.55		950,000			2.13~2.55		950,000
Sub-total				2,540,000					2,040,000
Deducted item:
Discounts on bonds				(2,698	)				(2,433	)
Total				2,537,302					2,037,567
12.	PROVISIONS
---	---
(1)	Details of provisions are as follows (Unit: Korean Won in millions):
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Asset retirement obligation		1,869		1,252
(2)	Changes in asset retirement obligation are as follows (Unit: Korean Won in millions):
---	---
	For the six-month periods ended June 30
---	---	---	---	---	---
	2025		2024
Beginning balance		1,252		1,227
Amortization		27		24
Changes in contract		590		(21	)
Ending balance		1,869		1,230

22 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

13.	NET DEFINED BENEFIT LIABILITY(ASSET)

The Company’s pension plan is based on the defined benefit retirement pension plan. Employees and directors with one or more years of service are entitled to receive a payment upon termination of their employment, based on their length of service and rate of salary at the time of termination. The assets of the plans are measured at their fair value at the end of reporting date. The plan liabilities are measured using the projected unit method, which takes into account of projected earnings’ increase, using actuarial assumptions that give the best estimate of the future cash flows that will arise under the plan liabilities.

The Company is exposed to various risks through defined benefit retirement pension plan, and the most significant risks are as follows:

Volatility of asset	The defined benefit obligation was estimated with an interest rate calculated based on blue chip<br>corporate bonds earnings. A deficit may occur if the rate of return of plan assets falls short of the interest rate.
Decrease in profitability of blue chip bonds	A decrease in profitability of blue chip bonds will be offset by some increase in the value of<br>debt securities that the employee benefit plan owns but will bring an increase in the defined benefit obligation.
Risk of inflation	Defined benefit obligations are related to inflation rate; the higher the inflation rate is, the<br>higher the level of liabilities. Therefore, deficit occurs in the system if an inflation rate increases.
(1)	Details of net defined benefit liability(asset) are as follows (Unit: Korean Won in millions):<br>
---	---
	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---
Present value of defined benefit obligation		15,039			14,313
Fair value of plan assets		(14,072	)		(15,691	)
Net defined benefit liability(asset)		967			(1,378	)
(2)	The amount recognized in profit or loss and total comprehensive income related to the defined benefit plan for<br>the six-month periods ended June 30, 2025 and 2024 is as follows (Unit: Korean Won in millions):
---	---
	For the six-month periods ended June 30
---	---	---	---	---	---	---
	2025			2024
Current service cost		2,810			2,060
Net interest income		(40	)		(104	)
Cost recognized in net income		2,770			1,956
Remeasurements (*)		1,496			1,335
Cost recognized in total comprehensive income		4,266			3,291
(*)	The amount is before income tax effect.
---	---

23 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

14.	OTHER FINANCIAL LIABILITIES AND OTHER LIABILITIES

Other financial liabilities and other liabilities are as follows (Unit: Korean Won in millions):

	June 30, 2025		December 31, 2024
Other financial liabilities:
Accounts payable		54,670		48,323
Accrued expenses		26,320		24,700
Lease liabilities		2,198		3,359
Sub-total		83,188		76,382
Other liabilities:
Other miscellaneous liabilities		356		404
Total		83,544		76,786
15.	EQUITY
---	---
(1)	Details of equity as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korean Won in<br>millions):
---	---
		June 30, 2025			December 31, 2024
---	---	---	---	---	---	---	---
Capital			3,802,676			3,802,676
Hybrid securities			3,510,737			3,810,225
Capital surplus			8,120,236			11,120,236
Other equity	Treasury stock		(150,628	)		(628	)
	Accumulated other comprehensive income		7,782			1,895
	Other adjustments (*3)		(1,723	)		(2,456	)
	Sub-total		(144,569	)		(1,189	)
Retained earnings (1) (2)			9,073,949			5,420,783
	Total		24,363,029			24,152,731
(*1)	The regulatory reserve for credit loss in retained earnings amounted to 1,289 million Won and<br>137 million Won as of June 30, 2025 and December 31, 2024 in accordance with the relevant regulation.
---	---
(*2)	The earned surplus reserve in retained earnings amounted to 554,990 million Won and 442,650 million<br>Won as of June 30, 2025 and December 31, 2024 in accordance with the Article 53 of the Financial Holding Company Act.
---	---
(*3)	Other adjustments represent the difference between the book value of hybrid securities and the redemption<br>amount.
---	---
(2)	The number of authorized shares and others of the Company are as follows:
---	---
	June 30, 2025		December 31, 2024
---	---	---	---	---
Shares of common stock authorized		4,000,000,000 Shares		4,000,000,000 Shares
Par value		5,000 Won		5,000 Won
Shares of common stock issued (*)		742,591,501 Shares		742,591,501 Shares
Capital stock		3,802,676 million Won		3,802,676 million Won
(*)	Due to retirement of earnings, total par value of the shares issued and<br>paid-in capital are different.
---	---

24 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	Hybrid securities

The bond-type hybrid securities classified as owner’s equity are as follows (Unit: Korean Won in millions):


Securities in local currency	2020-02-06	—	3.34	—		400,000
Securities in local currency	2020-06-12	—	3.23	—		300,000
Securities in local currency	2020-10-23	—	3.00	200,000		200,000
Securities in local currency	2021-04-08	—	3.15	200,000		200,000
Securities in local currency	2021-10-14	—	3.60	200,000		200,000
Securities in local currency	2022-02-17	—	4.10	300,000		300,000
Securities in local currency	2022-07-28	—	4.99	300,000		300,000
Securities in local currency	2022-10-25	—	5.97	220,000		220,000
Securities in local currency	2023-02-10	—	4.65	300,000		300,000
Securities in local currency	2023-09-07	—	5.04	200,000		200,000
Securities in local currency	2024-02-07	—	4.49	400,000		400,000
Securities in local currency	2024-06-19	—	4.27	400,000		400,000
Securities in local currency	2024-10-10	—	4.00	400,000		400,000
Securities in local currency	2025-05-13	—	3.45	400,000		—
Issuance cost				(9,263	)	(9,775	)
Total				3,510,737		3,810,225

The hybrid securities mentioned above do not have maturity date but are redeemable after 5 years from the date of issuance.

25 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(4)	Accumulated other comprehensive income

Changes in the accumulated other comprehensive income are as follows (Unit: Korean Won in millions):

	For the six-month period ended June 30, 2025
	Beginning<br>balance			Increase<br>(decrease)			Income tax<br>effect			Ending<br>balance
Net gain (loss) on valuation of financial assets at FVTOCI		2,590			9,495			(2,507	)		9,578
Remeasurements of defined benefit plan		(695	)		(1,496	)		395			(1,796	)
Total		1,895			7,999			(2,112	)		7,782
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Beginning<br>balance			Increase<br>(decrease)			Income tax<br>effect			Ending<br>balance
Net gain (loss) on valuation of financial assets at FVTOCI		(7,575	)		5,445			(1,437	)		(3,567	)
Remeasurements of defined benefit plan		332			(1,335	)		352			(651	)
Total		(7,243	)		4,110			(1,085	)		(4,218	)
(5)	Changes in treasury stocks are as follows (Unit: Korean Won in millions, Number of Shares):<br>
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---
	Beginning		Acquisition		Retirement		Ending
Number of shares		53,945		8,515,181		—		8,569,126
Carrying amount		628		150,000		—		150,628
	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---
	Beginning		Acquisition		Retirement			Ending
Number of shares		53,945		9,357,960		(9,357,960	)		53,945
Carrying amount		628		136,688		(136,688	)		628

26 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(6)	Regulatory reserve for credit loss

In accordance with Article 26 ~ 28 of the Financial holding company Supervision Regulations, the Company calculates and discloses the regulatory reserve for credit loss.

1)	Balance of the regulatory reserve for credit loss

Balance of the planned regulatory reserve for credit loss is as follows (Unit: Korean Won in millions):

	June 30, 2025
Beginning balance		1,289	137
Planned provision of regulatory reserve for credit loss		2,490	1,152
Ending balance		3,779	1,289
2)	Provision of regulatory reserve for credit loss, adjusted net income after the provision of regulatory reserve<br>and others
---	---

	Periods ended June 30, 2025						Periods ended June 30, 2024
	Three-month			Six-month			Three-month			Six-month
Net income (loss) before regulatory reserve		(27,269	)		1,368,796			(10,292	)		1,157,497
Provision (reversal) of regulatory reserve for credit loss		1,800			2,490			584			641
Adjusted net income (loss) after the provision of regulatory reserve		(29,069	)		1,366,306			(10,876	)		1,156,856
Dividends to hybrid securities		(36,166	)		(75,672	)		(39,749	)		(75,007	)
Adjusted net income (loss) after regulatory reserve and dividends to hybrid securities		(65,235	)		1,290,634			(50,625	)		1,081,849
Adjusted EPS (Loss Per Share) after regulatory reserve and dividends to hybrid securities (Unit:<br>Korean Won)		(89	)		1,745			(68	)		1,450

27 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

16.	DIVIDENDS
(1)	Dividends per share and the total dividends for the fiscal year ending December 31, 2024 were 660 Won and<br>490,075 million Won, respectively, approved at the regular general shareholders’ meeting held on March 26, 2025, and were paid in April 2025.
---	---
(2)	On April 25, 2025, the Board of Directors has declared a quarterly dividend of 200 Won per share<br>(147,428 million Won in total) and fixed record date as May 10, 2025. Dividends were paid in May 2025.
---	---
17.	NET INTEREST INCOME (EXPENSE)
---	---
(1)	Details of interest income recognized are as follows (Unit: Korean Won in millions):
---	---
	Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Interest on due from banks		13,002		21,595		16,088		28,698
Other interest income		16		33		25		50
Total		13,018		21,628		16,113		28,748
(2)	Details of interest expense recognized are as follows (Unit: Korean Won in millions):
---	---
	Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Interest on debentures		18,174		34,951		11,213		22,482
Other interest expense		14		27		12		25
Interest on lease liabilities		21		44		26		60
Total		18,209		35,022		11,251		22,567
18.	NET FEES AND COMMISSIONS INCOME (EXPENSE)
---	---
(1)	Details of fees and commissions income incurred are as follows (Unit: Korean Won in millions):<br>
---	---
	Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Fees and commissions income		417		876		406		813
(2)	Details of fees and commissions expense incurred are as follows (Unit: Korean Won in millions):<br>
---	---
	Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Fees and commissions paid		5,403		7,665		2,573		3,939
Others		2,999		5,977		2,836		5,722
Total		8,402		13,642		5,409		9,661
19.	DIVIDEND INCOME
---	---

Details of dividend income recognized are as follows (Unit: Korean Won in millions):

	Periods ended June 30, 2025				Periods ended June 30, 2024
	Three-month		Six-month		Three-month		Six-month
Dividend income recognized from investments in subsidiaries		—		1,422,898		—		1,182,977
Dividend income recognized from FVTOCI		6,193		12,520		6,388		12,744
Total		6,193		1,435,418		6,388		1,195,721

28 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

20.	REVERSAL (PROVISION) OF IMPAIRMENT LOSSES DUE TO CREDIT LOSS

Details of reversal (provision) of impairment losses due to credit loss recognized are as follows (Unit: Korean Won in millions):

	Periods ended June 30, 2025					Periods ended June 30, 2024
	Three-month		Six-month			Three-month		Six-month
Reversal (Provision) of impairment losses due to credit loss on loans and other financial assets<br>at amortized cost		289		(115	)		18		(442	)
21.	GENERAL AND ADMINISTRATIVE EXPENSES
---	---
(1)	Details of general and administrative expenses recognized are as follows (Unit: Korean Won in millions):<br>
---	---
			Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
			Three-month		Six-month		Three-month		Six-month
Employee benefits	Short-term Employee benefits	Salaries		9,461		17,709		8,133		15,698
		Employee fringe benefits		3,211		5,353		2,784		4,978
	Retirement benefit service costs			748		2,770		728		1,956
	Share based payments			3,403		4,206		642		1,879
	Sub-total			16,823		30,038		12,287		24,511
Depreciation and amortization				1,395		2,860		1,405		3,080
Other general and administrative expenses	Rent			404		815		410		823
	Taxes and public dues			144		292		127		346
	Service charges			380		805		264		703
	Computer and IT related			1,757		3,558		1,539		3,166
	Telephone and communication			65		240		107		311
	Advertising			21		38		1		29
	Printing			9		27		15		40
	Traveling			73		151		93		153
	Supplies			22		50		22		50
	Insurance premium			53		104		50		101
	Reimbursement			161		397		161		332
	Vehicle maintenance			58		109		56		99
	Others			362		664		360		650
	Sub-total			3,509		7,250		3,205		6,803
Total				21,727		40,148		16,897		34,394

29 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Share-based payment

Details of performance condition share-based payment granted to executives as of June 30, 2025 and December 31, 2024 are as follows:

1)	Performance condition share-based payment
Subject to		Shares granted for the year 2021
---	---	---
Type of payment		Cash-settled
Vesting period		January 1, 2021 ~ December 31, 2024
Date of payment		2025-01-01
Fair value (*1)		15,831 Won
Valuation method		Black-Scholes Model
Expected dividend rate		6.48%
Expected maturity date		0.00 years
Number of shares remaining	As of June 30, 2025	56,029 shares
	As of December 31, 2024	239,798 shares
Number of shares granted (*2)	As of June 30, 2025	56,029 shares
	As of December 31, 2024	239,798 shares
Subject to		Shares granted for the year 2022
---	---	---
Type of payment		Cash-settled
Vesting period		January 1, 2022 ~ December 31, 2025
Date of payment		2026-01-01
Fair value (*1)		20,367 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		0.50 years
Number of shares remaining	As of June 30, 2025	223,176 shares
	As of December 31, 2024	223,176 shares
Number of shares granted (*2)	As of June 30, 2025	223,176 shares
	As of December 31, 2024	223,176 shares
Subject to		Shares granted for the year 2023
---	---	---
Type of payment		Cash-settled
Vesting period		January 1, 2023 ~ December 31, 2026
Date of payment		2027-01-01
Fair value (*1)		18,934 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		1.50 years
Number of shares remaining	As of June 30, 2025	160,929 shares
	As of December 31, 2024	160,929 shares
Number of shares granted (*2)	As of June 30, 2025	160,929 shares
	As of December 31, 2024	160,929 shares
Subject to		Shares granted for the year 2024
---	---	---
Type of payment		Cash-settled
Vesting period		January 1, 2024 ~ December 31, 2027
Date of payment		2028-01-01
Fair value (*1)		17,601 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		2.50 years
Number of shares remaining	As of June 30, 2025	194,569 shares
	As of December 31, 2024	194,569 shares
Number of shares granted (*2)	As of June 30, 2025	194,569 shares
	As of December 31, 2024	194,569 shares

30 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

Subject to		Shares granted for the year 2025
Type of payment		Cash-settled
Vesting period		January 1, 2025 ~ December 31, 2028
Date of payment		2029-01-01
Fair value (*1)		16,362 Won
Valuation method		Black-Scholes Model
Expected dividend rate		7.30%
Expected maturity date		3.50 years
Number of shares remaining	As of June 30, 2025	85,734 shares
	As of December 31, 2024	—
Number of shares granted (*2)	As of June 30, 2025	85,734 shares
	As of December 31, 2024	—
(*1)	As the amount of payment varies according to the base price (the arithmetic average of the weighted average<br>stock price of transactions in the past one week, the past one month, and the past two months) at the date of payment, the fair value is calculated and used to measure the liability according to the Black Scholes model based on the base price at the<br>time of each settlement.
---	---
(*2)	The number of payable stocks is granted at the initial contract date. This is a system in which the number of<br>shares to be granted is determined based on the evaluation results of long-term performance indicators over a total of four years, including the current year, and the final cash compensation is made by reflecting the stock price at the time of<br>payment. Performance is evaluated as long-term performance indication including relative shareholder return, common equity tier 1(CET1) ratio, net income, return on equity (ROE), C/I ratio,<br>non-performing loan ratio and job performance.
---	---
2)	The Company accounts for performance condition share-based payments according to the cash-settled method and<br>the fair value of the liabilities is reflected in the compensation costs by re-measuring every closing period. As of June 30, 2025 and December 31, 2024 the book value of the liabilities related to<br>the performance condition share-based payments recognized by the Company is 13,378 million Won and 11,883 million Won.
---	---
22.	NON-OPERATING INCOME (EXPENSES)
---	---
(1)	Details of non-operating income and expenses recognized are as follows<br>(Unit: Korean Won in millions):
---	---
	Periods ended June 30, 2025						Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Other non-operating income		69			73			25			28
Other non-operating expense		(50	)		(60	)		(70	)		(91	)
Total		19			13			(45	)		(63	)
(2)	Details of other non-operating income recognized are as follows (Unit:<br>Korean Won in millions):
---	---
	Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Lease change cancellation gain		—		3		4		5
Others		69		70		21		23
Total		69		73		25		28
(3)	Details of other non-operating expenses recognized are as follows<br>(Unit: Korean Won in millions):
---	---
	Periods ended June 30, 2025				Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---
	Three-month		Six-month		Three-month		Six-month
Donations		50		60		70		85
Others		—		—		—		6
Total		50		60		70		91

31 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

23.	INCOME TAX EXPENSE

Details of income tax expense are as follows (Unit: Korean Won in millions):

	For the six-month periods ended June 30
	2025			2024
Current tax expense
Current tax expense with respect to the current period		—			—
Deferred tax expense
Change in deferred tax assets (liabilities) due to temporary differences		2,324			1,743
Tax expense (income) directly attributable to equity		(2,112	)		(1,085	)
Sub-total		212			658
Income tax expense		212			658
24.	EARNINGS PER SHARE (“EPS”)
---	---
(1)	Basic EPS is calculated by dividing net income attributable to common shareholders by weighted-average number<br>of common shares outstanding (Unit: Korean Won in millions, except for EPS and number of shares):
---	---
	Periods ended June 30, 2025						Periods ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---	---	---
	Three-month			Six-month			Three-month			Six-month
Net income (loss)		(27,269	)		1,368,796			(10,292	)		1,157,497
Dividends to hybrid securities		(36,166	)		(75,672	)		(39,749	)		(75,007	)
Net income (loss) attributable to common shareholders		(63,435	)		1,293,124			(50,041	)		1,082,490
Weighted average number of common shares outstanding (Unit: million shares)		737			740			743			746
Basic EPS (Loss Per Share) (Unit: Korean Won)		(86	)		1,749			(67	)		1,450
(2)	The weighted average number of common shares outstanding is as follows (Unit: number of shares) :<br>
---	---
	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---
	Period	Number of<br>shares			Dates		Accumulated number<br>of shares outstanding<br>during period
Common shares issued at the beginning of the period	2025-01-01~2025-06-30		742,591,501			181		134,409,061,681
Treasury stock	2025-01-01~2025-06-30		(53,945	)		181		(9,764,045	)
Acquisition of treasury stock	2025-01-01~2025-06-30		(8,515,181	)				(548,504,147	)
Sub-total (①)								133,850,793,489
Weighted average number of common shares outstanding (②=①/181)								739,507,146

32 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

	For the six-month period ended June 30,<br>2024
	Period	Number of<br>shares			Dates		Accumulated number<br>of shares outstanding<br>during period
Common shares issued at the beginning of the period	2024-01-01~2024-06-30		751,949,461			182		136,854,801,902
Treasury stock	2024-01-01~2024-06-30		(53,945	)		182		(9,817,990	)
Acquisition and retirement of treasury stock	2024-01-01~2024-06-30		(9,357,960	)				(1,020,017,640	)
Sub-total (①)								135,824,966,272
Weighted average number of common shares outstanding (②=①/182)								746,291,023

Diluted EPS is equal to basic EPS because there is no dilution effect for the six-month periods ended June 30, 2025 and 2024.

25.	CONTINGENT LIABILITIES AND COMMITMENTS
(1)	Litigation case
---	---

As of June 30, 2025, the Company currently has one lawsuit as a defendant related to Woori Asset Trust Co., Ltd. stock trading payments. The lawsuit is in the first trial stage, with a claim amount of 13,305 million Won. It is not possible to reasonably estimate the potential impact on the Company’s financial statements as of June 30, 2025.

(2)	Details of loan commitments with financial institutions are as follows (Unit: Korean Won in millions):<br>
	June 30, 2025					December 31, 2024
---	---	---	---	---	---	---	---	---	---
	Financial institutions	Line of credit		Loan balance		Line of credit		Loan balance
Loans	Standard Chartered Bank Korea Ltd.		100,000		—		100,000		—

33 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

26.	RELATED PARTY TRANSACTIONS

Related parties of the Company as of June 30, 2025 and December 31, 2024, and assets and liabilities recognized, guarantees and commitments, major transactions with related parties and compensation to key management for the six-month periods ended June 30, 2025 and 2024 are as follows:

(1)	Assets and liabilities from transactions with related parties are as follows (Unit: Korean Won in millions):<br>
Related parties	Title of account	June 30, 2025			December 31, 2024
---	---	---	---	---	---	---	---
Subsidiaries
Woori Bank	Cash and cash equivalents		1,689,577			1,185,912
	Other financial assets		848,461			163,893
	Allowance for credit losses		(169	)		(56	)
	Other financial liabilities		30,285			36,427
Woori Card Co., Ltd.	Other financial assets		30,420			26,229
	Other financial liabilities		9,634			280
Woori Financial Capital Co., Ltd.	Other financial assets		17,824			12,850
	Other financial liabilities		565			282
Woori Investment Securities Co., Ltd.	Other financial assets		1			—
	Other financial liabilities		11,630			—
Woori Asset Trust Co., Ltd.	Other financial liabilities		—			1,130
Woori Savings Bank	Other financial assets		1,161			—
	Other financial liabilities		91			1,014
Woori Financial F&I Co., Ltd.	Other financial liabilities		3,496			3,440
Woori Asset Management Corp	Other financial assets		2,147			—
Woori Venture Partners Co., Ltd.	Other financial assets		754			—
	Other financial liabilities		—			3,179
Woori Private Equity Asset Management Co. Ltd.	Other financial assets		712			346
Woori Credit Information Co., Ltd.	Other financial assets		143			303
Woori Fund Service Co., Ltd.	Other financial assets		682			711
Woori FIS Co., Ltd.	Other financial assets		1			1
	Other financial liabilities		510			581
Woori Finance Research Institute Co., Ltd.	Other financial assets		8			155
	Other financial liabilities		5			2,620
Associates of subsidiaries
W Service Networks Co., Ltd.	Other financial liabilities		12			22

34 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(2)	Gain or loss from transactions with related parties are as follows (Unit: Korean Won in millions):<br>
		For the six-month periods ended June 30
---	---	---	---	---	---
Related party	Title of account	2025		2024
Subsidiaries
Woori Bank	Interest income		20,693		28,748
	Fees and commissions income		876		813
	Dividend income		1,352,524		1,131,996
	Interest expenses (*2)		31		49
	Fees and commissions expense		9		9
	Provision of impairment loss due to credit loss		113		442
	General and administrative expenses (*2)		2,485		2,259
Woori Card Co., Ltd.	Dividend income		37,435		30,309
Woori Financial Capital Co., Ltd.	Dividend income		32,743		30,051
	Interest expenses (*2)		9		4
	General and administrative expenses (*2)		122		50
Woori Investment Securities Co., Ltd.(*1)	Fees and commissions expenses		—		—
Woori Asset Management Corp	Dividend income		3,540		—
Woori Venture Partners Co., Ltd.	Dividend income		7,300		800
Woori Credit Information Co., Ltd.	Dividend income		484		1,504
Woori Fund Service Co., Ltd.	Dividend income		1,392		1,060
Woori FIS Co., Ltd.	General and administrative expenses		3,166		2,871
Woori Finance Research Institute Co., Ltd.	Fees and commissions expenses		4,330		4,200
Associates of subsidiaries
W Service Networks Co., Ltd.	General and administrative expenses		95		173
(*1)	The Company has issued non-guarantee debenture amount of<br>600,000 million Won during the six-month period ended June 30, 2025 and Woori Investment Securities Co., Ltd purchased 40,000 million Won out of 600,000 million Won issued. The underwriting fee amount of 40 million Won is<br>included in the issuance cost. The Company has issued hybrid capital securities amount of 800,000 million Won during the six-month period ended June 30, 2024 and Woori Investment Securities Co., Ltd purchased 20,000 million Won out of<br>800,000 million Won issued. The underwriting fee amount of 34 million Won is included in the issuance cost.
---	---
(*2)	The depreciation of<br>right-of-use assets and interest expense of lease liabilities arising from lease transactions during the current term and prior term are included.
---	---

35 -

WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(3)	The details of the right-of-use<br>assets and lease liabilities due to lease transactions with related parties as of June 30, 2025 and December 31, 2024 are as follows (Unit: Korea Won in millions):
Related parties		Title of account	June 30, 2025		December 31, 2024
---	---	---	---	---	---	---
Subsidiaries	Woori Bank	Right-of-use assets		1,695		2,799
		Lease liabilities (*)		1,450		2,795
	Woori Financial Capital Co., Ltd.	Right-of-use assets		537		266
		Lease liabilities (*)		565		282
(*)	Cash outflows of lease liabilities redemption for the six-month periods ended June 30, 2025 and 2024 are<br>1,491 million Won and 1,380 million Won, respectively.
---	---
(4)	The details of loan and borrowing transactions with related parties for the six-month periods ended<br>June 30, 2025 and 2024 are as follows (Unit: Korea Won in millions):
---	---
		Title of account	For the six-month period ended June 30, 2025
---	---	---	---	---	---	---	---	---	---	---
Related parties (*1)			Beginning<br>balance		Increase		Decrease		Ending<br>balance
Subsidiary	Woori Bank	Due from banks (*2)		1,274,000		4,587,000		5,304,000		557,000
(*1)	For the 600,000 million Won of non-guarantee debenture issued<br>during the six-month period ended June 30, 2025, 40,000 million Won was purchased by Woori Investment Securities Co., Ltd and the entire amount was sold to the market on the date of issuance.
---	---
(*2)	Excludes due from banks without withdrawal limitations.
---	---
		Title of account	For the six-month period ended June 30, 2024
---	---	---	---	---	---	---	---	---	---	---
Related parties (*1)			Beginning<br>balance		Increase		Decrease		Ending<br>balance
Subsidiary	Woori Bank	Due from banks (*2)		1,354,000		2,391,000		1,855,000		1,890,000
(*1)	For the 800,000 million Won of hybrid securities issued during the six-month period ended June 30,<br>2024, 20,000 million Won was purchased by Woori Investment Securities Co., Ltd and the entire amount was sold to the market on the date of issuance.
---	---
(*2)	Excludes due from banks without withdrawal limitations.
---	---
(5)	The details of equity-related transactions with related parties are as follows (Unit: Korean Won in million) :<br>
---	---
		For the six-month period ended June 30, 2025
---	---	---	---	---	---
Related parties		Acquisition of Hybrid<br>securities (*2)		Disposal of<br>Hybrid securities<br>(*2)
Subsidiary	Woori Card Co., Ltd.(*1)		150,000		150,000
(*1)	For the six-month period ended June 30, 2025, Woori Card Co., Ltd. early redeemed hybrid securities<br>amounting to 150,000 million Won through the exercise of a call option and acquired newly issued hybrid securities of 150,000 million Won from Woori Card Co., Ltd.
---	---
(*2)	The book value related to equity can be referred to in Note 6 and Note 9.
---	---
		For the six-month period<br>ended June 30, 2024
---	---	---	---
Related parties		Acquisition of interests (*5)
Subsidiary	Woori Asset Trust Co Ltd (*1)		212,430
Subsidiary	Woori Asset Management Corp (*2)		41,376
Subsidiary	Woori Savings Bank (*3)		100,000
Subsidiary	Woori Financial F&I Co., Ltd. (*4)		120,000

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WOORI FINANCIAL GROUP INC.

NOTES TO THE SEPARATE INTERIM FINANCIAL STATEMENTS

ASOF JUNE 30, 2025 AND 2024 (UNAUDITED)

(*1)	For the six-month period ended June 30, 2024, the capital increase amount of 200,000 million Won was<br>made. Afterward, the Company additionally acquired minority interests of 1.95%.
(*2)	For the six-month period ended June 30, 2024, the Company acquired interest (22.5%) of Woori Asset<br>Management Corp to make it wholly owned subsidiary.
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(*3)	For the six-month period ended June 30, 2024, the capital increase amount of 100,000 million Won was<br>made.
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(*4)	For the six-month period ended June 30, 2024, the capital increase amount of 120,000 million Won was<br>made.
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(*5)	The book value related to equity can be referred to in Note 6 and Note 9.
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(6)	There are no guarantees provided to the related parties. The unused commitments and payment guarantees provided<br>from the related parties are as follows (Unit: Korean Won in millions):
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Related parties		June 30, 2025		December 31, 2024		Warranty
---	---	---	---	---	---	---	---
Subsidiary	Woori Card Co., Ltd.		10,276		665		Unused loan commitment
(7)	Compensation for key management is as follows (Unit: Korean Won in millions):
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	For the six-month periods ended June 30
---	---	---	---	---
	2025		2024
Short-term employee salaries		2,735		2,582
Retirement benefit service costs		62		89
Share-based compensation		3,423		1,703
Total		6,220		4,374

Key management includes registered executives and non-registered executives. The Company has not recognized any outstanding assets, allowance and related impairment loss due to credit losses from transaction with key management as of June 30, 2025 and December 31, 2024. Liabilities related to key management compensation are 13,608 million Won and 12,850 million Won as of June 30, 2025 and December 31, 2024, respectively.

27.	EVENTS AFTER THE REPORTING PERIOD
(1)	On July 25, 2025, the Board of Directors has declared to pay a quarterly dividend of 200 Won per share<br>(total dividend of 146,804 million Won), with the record date set as of August 10, 2025, and the dividends will be paid on August 29, 2025.
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(2)	On July 1, 2025, the Company acquired 75.34% of the shares of Tongyang Life Insurance Co., Ltd. and 100%<br>of the shares of ABL Life Insurance Co., Ltd., and incorporated them as consolidated subsidiaries.
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(3)	On July 31, 2025, the Company acquired 0.41% shares of Woori Asset Trust Co., Ltd., to make it a wholly<br>owned subsidiary.
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