Group Compliance Reporting System and Policies for the Protection of Whistleblowers

1. Overview of the System

Woori Financial Group has established and operates a "Group Compliance Reporting System" to prevent financial accidents and minimize losses by encouraging the reporting of acts deemed illegal or improper in handling duties and signs of potential accidents by employees. (Related internal regulations: Guidelines for the Operation of the Group Compliance Reporting System within the Group)

2. Reporters

Anyone, including all employees currently working in Woori Financial Group subsidiaries, can utilize the Group Compliance Reporting System.

3. Acts Subject to Reporting

1) Cases where there are allegations of major violations of internal control standards
2) Cases where serious accidents are expected due to deficiencies in internal control standards
3) Cases where there are allegations of violations of finance-related laws under Article 2(7) of the Act on Corporate Governance of Financial Companies
4) Cases where there are allegations of failure to fulfill internal control management duties under Article 30-2 of the Act on Corporate Governance of Financial Companies, or where illegal or improper work instructions are given during the implementation process
5) Cases where there are allegations of crimes such as embezzlement, breach of trust, theft, extortion, bribery, arrangement of private loans, unfair practices related to savings, and flight of property abroad
6) Cases where instructions or requests to violate finance-related laws, internal regulations, and procedural compliance matters are received from other employees
7) Cases where there is sexual harassment through sexual language or behavior
8) Acts that may cause social controversy and significantly damage the group's reputation risk
9) Acts of improper solicitation or provision of money and valuables contrary to the Improper Solicitation and Graft Act
10) Cases where facts of fraudulent recruitment solicitation are recognized or there is reasonable suspicion of fraudulent acts such as solicitation (including acts of intervening in or influencing the recruitment process through a third party)
11) Failure to implement or negligent implementation of major accident prevention measures such as separation of duties, mandatory leave, management of long-term workers, and self-audits
12) Any other acts for which there are reasonable grounds to be judged as illegal or improper business handling or signs of accidents

4. Obligation to Report

If an employee of Woori Financial Group becomes aware of acts subject to reporting (including cases where they are coerced or solicited acts subject to reporting by employees or non-employees), they must promptly report them to the Ethics Management Office or the dedicated department of the subsidiary. Employees of Woori Financial Group who fail to report known acts subject to reporting, make false reports, conceal misconduct, or obstruct reporting may be subject to disciplinary action

5. Reporting Methods

Reporters can choose to make anonymous or identified reports using the following methods:

1) Reporting through the internal network: Woori Portal's compliance reporting corner, (Holdings) Compliance Monitoring System
2) Dedicated reporting hotline: 02)2125-2125, 02)2125-2369
3) Dedicated reporting email: 119@woorifg.com, WFG112@woorifg.com
4) Mail or other methods (To: Compliance Reporting Manager, Ethics Management Office, Woori Financial Holdings, 51 Sogong-ro, Seoul)
5) External channels: Red Whistle Help Line website and app

6. Confidentiality of the Reporter's Identity

1) The content of the report is strictly kept confidential in accordance with the relevant internal regulations and is rigorously managed by authorized personnel.
(Compliance reporting reception managers, investigators, and personnel in charge of reward payments submit a "Confidentiality Agreement" and handle the tasks fairly and independently.)

2) Employees who violate the duty of confidentiality may be subject to disciplinary action.

7. Investigation

The Ethics Management Office that receives the report may conduct the investigation directly, or request an investigation from or transfer the case to the dedicated department of the relevant subsidiary. As a principle, investigations should be concluded within 20 business days from the initial receipt date.

8. Notification to the Reporter

The Head of the Ethics Management Office must notify the reporter of the investigation or the results of the investigation and actions taken if requested by the reporter. Even in the case of anonymous reporters, appropriate notification should be provided upon request.

9. Protection of the Reporter

Whistleblowers shall not be subjected to disadvantageous treatment in personnel matters, such as discrimination in working conditions falling under the following items, for reasons of compliance reporting. Employees who violate this duty to protect whistleblowers may be subject to disciplinary action in accordance with relevant internal regulations. In addition, if it is judged that the whistleblower has suffered disadvantages due to the report or requests a change of workplace, the Head of the Ethics Management Office may request the head of the relevant department to correct the disadvantage or take measures to change the workplace.

1) Removal from office, dismissal, discharge, removal from position, or other disadvantageous measures regarding status
2) Suspension, salary reduction, reprimand, warning, caution, admonition, demotion, restriction on promotion, or other unfair personnel measures
3) Transfer, relocation, non-assignment of duties, reassignment of duties, or other personnel measures contrary to the person's will
4) Discrimination in performance evaluation or peer evaluation, and consequent discriminatory payment of wages or bonuses, etc.
5) Cancellation of self-development opportunities such as education or training, restriction or removal of available resources such as budget or manpower, suspension of use of security information or confidential information or cancellation of handling qualifications, or other discrimination or measures that negatively affect working conditions, etc.
6) Creation of a list of persons subject to caution or disclosure of such list, bullying, assault or verbal abuse, or other acts causing mental or physical damage
7) Unfair audit or investigation of duties
※ However, whistleblowers involved in the reported illegal or unfair acts may receive mitigation or exemption, and cooperators in investigations, such as those providing statements, are protected in the same manner as whistleblowers

10. Incentives for Reporters

If the report meets the following criteria, the reporter may be provided with rewards such as awards, monetary compensation, or relief funds:

1) Contributing to the early detection of accidents that have already occurred or minimizing accident losses
2) Contributing to accident prevention through preemptive reporting on violations of internal control standards, etc., although accidents did not actually occur
3) Contributing to accident prevention regarding serious deficiencies in internal control standards
4) Recognized by the Head of the Ethics Management Office as contributing to the improvement of internal control within the group
※ However, the reporter may decline the provision of commendations, rewards, etc.

11. Exclusion

If the reported matter is related to the Head of the Ethics Management Office of the holding company, employees belonging to the Ethics Management Office, or the compliance reporting manager who oversees the Compliance Reporting System, it should be immediately transferred to the audit department upon receipt for processing.

12. Storage of Related Documents and Training

The Head of the Ethics Management Office must maintain and manage records related to the operation of the Compliance Reporting System for five years and conduct regular training on the Compliance Reporting System.