Additional Paid-In CapitalAgio SHARE CAPITAL a. Authorised, Issued and Fully Paid-in Capital

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2010, 2009 AND 2008 Expressed in millions of Rupiah, unless otherwise stated Appendix 5122 34. MANAGEMENT STOCK OPTION PLAN continued MSOP Stage 2 The Annual General Shareholders’ Meeting held on 16 May 2005 approved the MSOP Stage 2 amounting to 312,000,000 share options. Exercise price for each share is Rp1,190.50 full amount for the first year of execution and Rp2,493 full amount for the remaining exercised period up to the end of the option life time in the fifth year. The share option period of MSOP Stage 2 is 5 five years, since eligibility date on 21 June 2005. After 4 December 2006, all share options in MSOP Stage 2 could be 100.00 exercised from the total option granted. The fair value of MSOP Stage 2 which was granted on 16 May 2005 was Rp642.28 full amount based on a valuation report issued by PT Watson Wyatt Indonesia dated 27 February 2006. MSOP Stage 3 The Annual General Shareholders’ Meeting held on 22 May 2006 approved the MSOP Stage 3 amounting to 309,416,215 share options. Exercise price per each share is Rp1,495.08 full amount during the options period. The decision of the stock options allocation and the policy of MSOP Stage 3 was determined by the Board of Commissioners on 28 July 2006. The option period of MSOP Stage 3 is 5 five years with maximum execution twice a year which was announced in the Announcement of the Indonesia Stock Exchange formerly Jakarta Stock Exchange No. Peng-989BEJ-PSJP10-2006 dated 31 October 2006. Based on the policy of the Board of Commissioners, on 30 October 2007, the Bank stated that MSOP Stage 3 can be exercised on the first period 7 May 2007 and 5 November 2007 at the maximum 50.00 from total options granted. The remaining 50.00 can be exercised on the next period the second period or the subsequent periods. The fair value of MSOP Stage 3 stock options granted on 22 May 2006 was Rp593.89 full amount based on a valuation report issued by PT Watson Wyatt Indonesia dated 22 February 2007. The fair value of MSOP Stage 1, MSOP Stage 2 and MSOP Stage 3 were estimated using the Black Scholes option pricing model with the following assumptions: MSOP Stage 1 MSOP Stage 2 MSOP Stage 3 Risk free interest rate 8.46 9.50 11.65 Expected option period 5 years 5 years 5 years Expected volatility of stock price 24.53 50.00 50.00 Expected dividend yield 7.63 7.63 7.75 Employee turnover rate 1.00 1.00 1.00 Number of options exercised for the period ended 31 December 2010 amounting to 26,377,937 options Notes 33a and 33b which consist of MSOP Stage 2 and MSOP Stage 3 amounting to 6,684,845 options and 19,693,092 options, respectively. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2010, 2009 AND 2008 Expressed in millions of Rupiah, unless otherwise stated Appendix 5123 34. MANAGEMENT STOCK OPTION PLAN continued MSOP Stage 3 continued Number of options exercised for the year ended 31 December 2009 amounting to 64,469,017 options Notes 33a and 33b which consist of MSOP Stage 2 and MSOP Stage 3 amounting to 86,800 options and 64,382,217 options, respectively Number of options exercised for the year ended 31 December 2008 amounting to 92,882,614 options Notes 33a and 33b which consist of MSOP Stage 1, MSOP Stage 2 and MSOP Stage 3 amounting to 4,835,783 options, 55,110 options and 87,991,721 options, respectively. In relation to Bank Mandiri’s plans to undertake Rights Issue, 11,649,602 options and 3,224,264 options of MSOP Stage 3 have been exercised on 4 November 2010 and 14 December 2010, respectively. The last period of MSOP Stage 3 execution was brought forward from 4 May 2011 to 14 December 2010. This particular change is in relation with Bank’s plan to undertake a Limited Public Offering Note 60. As at 31 December 2010, there is no outstanding stock option. A summary of the Management Stock Option Plan and the movements during the periods full amount: 31 December 2010 Weighted average Weighted average fair excercise price of Number of value of options options options full amount full amount Value of options Options outstanding at beginning of the year 26,665,367 606.54 1,755.97 16,174 Options exercised during the year 26,377,937 606.15 1,747 .98 15,989 Options have been expired 287,430 642.09 2,489.09 185 Options that can be exercised at the end of the year - - - - 31 December 2009 Weighted average Weighted average fair excercise price of Number of value of options options options full amount full amount Value of options Options outstanding at beginning of the year 91,134,384 597.64 1,572.36 54,465 Options exercised during the year 64,469,017 593.96 1,496.42 38,291 Options that can be exercised at the end of the year 26,665,367 606.54 1,755.97 16,174 31 December 2008 Weighted average Weighted average fair excercise price of Number of value of options options options full amount full amount Value of options Options outstanding at beginning of the year 187,234,826 573.18 1,500.62 107,320 Options exercised during the year 92,882,614 566.63 1,456.49 52,630 Options have been expired 3,217,828 69.71 742.50 225 Options that can be exercised at the end of the year 91,134,384 597.64 1,572.36 54,465