Value Added Tax VAT on Bank Syariah Mandiri BSM Murabahah Financing Transactions

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013 Expressed in millions of Rupiah, unless otherwise stated Appendix 5205 62. SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued f. The conditional agreement of share transaction between PT Bank Mandiri Persero Tbk., PT Kimia Farma Persero Tbk., PT Asuransi Jasa Indonesia Persero, PT Askes Persero and Koperasi Bhakti PT Askes regarding the sale of shares PT Asuransi Jiwa InHealth Indonesia On 23 December 2013, the Bank with PT Kimia Farma Persero Tbk. and PT Asuransi Jasa Indonesia Persero as the Buyers with Badan Penyelenggara Jaminan Sosial formerly known as PT Askes Persero and Koperasi Bhakti Askes as the Sellers, have signed a Conditional Purchase and Sale Agreement of PT Asuransi Jiwa Inhealth Indonesia’s “InHealth” shares where the transaction will be conducted in 2 two stages as follow : i. Stage 1, which is the transfer of 80 ownership in InHealth that was planned to be finalised at the latest on 30 June 2014, in which the ownership of the Bank Mandiri is 60 PT Kimia Farma Persero Tbk. and PT Asuransi Jasa Indonesia Persero each 10, and ii. Stage 2, the transfer of 20 ownership in InHealth to Bank Mandiri which was planned to be finalised at the latest on 31 December 2014, therefore Bank Mandiri’s total ownership become 80. Post transaction stage 2, the share ownership composition in PT Asuransi Jiwa Indonesia InHealth will be 80 owned by Bank Mandiri, PT Kimia Farma Persero, PT Asuransi Jasa Indonesia Persero owned 10 each of issued and fully paid InHealth’s shares. On 27 February 2014, the Bank has obtained the approval of the General Meeting of Shareholders related to the acquisition of PT Asuransi Jiwa Indonesia InHealth. Furthermore, the Bank has also received the approval for the acquisition plan from OJK through its letter No.S- 37PB312014 dated 17 April 2014 regarding the Application for Approval on investment in InHealth’s shares. On 2 May 2014, the sales and purchase agreement on InHealth’s shares was signed by Bank Mandiri, PT Kimia Farma Persero Tbk and PT Asuransi Jasa Indonesia Persero as the Buyer with Badan Penyelenggara Jaminan Sosial Kesehatan BPJS Kesehatan previously PT Akses Persero and Koperasi Bhakti Askes as the Seller. Upon the signing of the sales and purchase agreement, Bank Mandiri effectively become the majority shareholder with ownership of 60. In relation to stage 2 acquisition of InHealth, Bank Mandiri has submit a request for approval to OJK on investment in shares through its letter No. FST9652014 dated 30 December 2014. The finalisation of stage 2 will be done upon receiving approval from OJK. Until the date of this consolidated financial statements, Bank Mandiri has not yet received the OJK approval for stage 2 acquisition.

63. GOVERNMENT GUARANTEE FOR THE OBLIGATIONS OF LOCALLY INCORPORATED BANKS

Based on the Law of the Republic of Indonesia No. 24 year 2004 dated 22 September 2004, the Government of Republic Indonesia has established an independent insurance corporation by the name of Deposit Insurance Corporation LPS. LPS insures public funds, including funds from other banks in form of demand deposits, time deposits, certificates of deposit, savings andor other equivalent form. Based on the Deposit Insurance Corporation Regulation No. 1PLPS2006 dated 9 March 2006 concerning the Deposit Guarantee Program, the maximum guaranteed amount for each customer in one bank is Rp100,000,000 full amount.