Divestment of Government Share Ownership

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 56 1. GENERAL continued

g. Subsidiaries Associates

Subsidiaries included in the consolidated financial statements as at 31 December 2014 and 2013, are as follows: Percentage of Ownership Name of Subsidiaries Nature of Business Domicile 2014 2013 PT Bank Syariah Mandiri BSM Sharia Banking Jakarta 99.99 99.99 Bank Mandiri Europe Limited BMEL Commercial Banking London 100.00 100.00 PT Mandiri Sekuritas Securities Jakarta 99.99 99.99 PT Bank Sinar Harapan Bali BSHB Commercial Banking Denpasar 93.23 93.23 PT Mandiri Tunas Finance MTF Consumer Financing Jakarta 51.00 51.00 Mandiri International Remittance Sendirian Berhad MIR Remittance Kuala Lumpur 100.00 100.00 PT AXA Mandiri Financial Services Life Insurance Jakarta 51.00 51.00 PT Mandiri AXA General Insurance MAGI General Insurance Jakarta 60.00 60.00 PT Asuransi Jiwa InHealth Indonesia Life Insurance Jakarta 60.00 - Effective starting from 2 May 2014 The Subsidiaries’ total assets as at 31 December 2014 and 2013 before elimination amounting to Rp107,781,308 and Rp94,293,194 or 12.61 and 12.86 of the total consolidated assets, respectively. PT Bank Syariah Mandiri PT Bank Syariah Mandiri “BSM” is engaged in banking activities in accordance with sharia banking principles. BSM was established in the Republic of Indonesia on 15 June 1955 under the name of PT Bank Industri Nasional “PT Bina”. Then PT Bina changed its name to PT Bank Maritim Indonesia on 4 October 1967 which then subsequently changed the name to become PT Bank Susila Bhakti on 10 August 1973, a Subsidiary of BDN. Subsequently it became PT Bank Syariah Mandiri based on notarial deed of Sutjipto, S.H., No. 23 dated 8 September 1999. BSM obtained a license as a commercial bank based on the decision letter of the Minister of Finance of the Republic of Indonesia No. 275122U.M.II dated 19 December 1995 and officially commenced its sharia operations in 1999. On 18 March 2011, Bank Mandiri made an additional capital contribution in form of cash to Subsidiary amounted to Rp200,000. Bank Mandiri already obtained an approval from Bank Indonesia through its letter dated 31 January 2011 and from shareholders through the shareholder circular resolution letter dated 28 February 2011 on the increase in capital. On 29 December 2011, Bank Mandiri made an additional capital contribution in form of cash to Subsidiary amounted to Rp300,000. Bank Mandiri already obtained an approval from Bank Indonesia through its letter dated 27 December 2011 and from shareholders through the shareholder circular resolution letter dated 29 December 2011 on the increase in capital. On 21 December 2012, Bank made an additional capital contribution in form of cash to Subsidiary amounted to Rp300,000. Bank Mandiri already obtained an approval from Bank Indonesia through its letter dated 21 December 2012 and from shareholders through the shareholder circular resolution letter dated 21 December 2012 on the increase in capital. On 30 December 2013, Bank Mandiri made an additional capital contribution in form of non cash, land and building inbreng, to Subsidiary amounted to Rp30,778. Bank Mandiri already obtained an approval from Bank Indonesia through its letter dated 19 December 2013 and from shareholders through the shareholder circular resolution letter dated dated 27 December 2013 on the increase in capital.