deeds of the Constitutional Court. no 77Puu-iX2011 about

PT Bank Mandiri Persero Tbk. MANAgEMENT DISCUSSION ANALySIS OF MANAgEMENT’S PERFORMANCE f. Bank Soundness at the lowest rank of PK 2 for last 12-month and the lowest assessment rank of PK 3 on the last 6-month period. g. In addition to the national Bank with headquarter in Indonesia, Foreign Banks’ Branch Oice KCBA who meet the requirements can also performTrust. If Trustee is unable to meet the requirements, the Bank has 6 months to complete the requirements and during this period will not apply for another Trust Agreement. If up to 6-month time Trustee cannot meet the requirement, the Trust assets funds must be returned to the settlor or the settlor designated Trustee successor in accordance with the Trust Agreement. TRUSTEE EVENT COVERAGE: In the course of Trust, the Trustee may act as:

a. Paying agent

• Open and close accounts on behalf of the settlor; • Receive and deposit funds into the settlor’s account; • Perform payments from the account of the settlor to the Beneiciary and or other parties; • Records, documents, and document administration related to the settlor account.

b. investment agent

• Implemented based on a clear and detail instructions from the settlor, which is tailored to the type of activity or the instruments used. • In the event that the settlor instructed the Trustee to invest the funds other than the activities stipulated in the legislation in force such as the Banking Law and Capital Market Law, the investment fund must be performed by the investment manager.

c. Borrowing agent

• Obtain loans with the evidenced of the loan agreement; • Perform hedge transactions; • Reserve funds to pay the loan based on the mechanisms that is established by settlor andor • Other activities associated with the borrowing SETTLOR CRITERIA: a. A corporate customer b. Not ailiated with the bank c. Settlor can act as a Beneiciary EVENT LISTING TRUST a. Trustee shall make a record of the activities on the separate bank accounts, including details of each Trust activity, which at least contains the transactions and positions of Trust treasure. b. Trustee shall record the mutations account separately for each of the settlor and beneiciary.

4. Bank Indonesia Regulation No. 1424PBI2012 on Single Ownership

In the Indonesian Banking a. Each Party may only be a Controlling Shareholder PSP at one Bank. This provision is excluded for: 1 PSP in 2 two each Bank that conducts business with diferent principles, namely conventional and based on Sharia principles, and 2 PSP in 2 two Bank, one of which is a mixture of Joint Venture Bank. b. In the event that the PSP: 1 Is involved in more than 1 one Bank, or 2 Purchase shares of another bank, which resulted in becoming PSP in more than one Bank