Subsidiaries and Associates continued PT Mandiri Tunas Finance continued

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012 AND 2011 Expressed in millions of Rupiah, unless otherwise stated Appendix 512 1. GENERAL continued

h. Structure and Management continued

As at 31 December 2012 and 2011, the members of Bank Mandiri’s Board of Commissioners and Directors are as follows: 2012 2011 Board of Commissioners Chairman and Independent Commissioner : Edwin Gerungan Edwin Gerungan Deputy Chairman : Muchayat Muchayat Commissioner : Cahyana Ahmadjayadi Mahmuddin Yasin Commissioner : Wahyu Hidayat Cahyana Ahmadjayadi Independent Commissioner : Pradjoto Pradjoto Independent Commissioner : Gunarni Soeworo Gunarni Soeworo Independent Commissioner : Krisna Wijaya Krisna Wijaya 2012 2011 Board of Directors President Director : Zulkifli Zaini Zulkifli Zaini Deputy President Director : Riswinandi Riswinandi Institutional Banking Director : Abdul Rachman Abdul Rachman Risk Management Director : Sentot A. Sentausa Sentot A. Sentausa Micro Retail Banking Director : Budi Gunadi Sadikin Budi Gunadi Sadikin Compliance Human Capital Director : Ogi Prastomiyono Ogi Prastomiyono Finance Strategy Director : Pahala N. Mansury Pahala N. Mansury Corporate Banking Director : Fransisca N. Mok Fransisca N. Mok Commercial Business Banking Director : Sunarso Sunarso Technology Operations Director : Kresno Sediarsi Kresno Sediarsi Treasury, Financial Institution Special Asset Management Director : Royke Tumilaar Royke Tumilaar As at 31 December 2012 and 2011, the members of Bank Mandiri’s Audit Committees are as follows: 2012 2011 Chairman, concurrently as member : Gunarni Soeworo Gunarni Soeworo Member : Krisna Wijaya Krisna Wijaya Member : Cahyana Ahmadjayadi Cahyana Ahmadjayadi Member : Wahyu Hidayat - Member : Zulkifli Djaelani Zulkifli Djaelani Member : Imam Soekarno Imam Soekarno Board Decision Letter No. KEP.DIR3222012 dated 6 December 2012 on Appointment of Members of Committees under the Board of Commissioners of PT Bank Mandiri Persero Tbk. As at 31 December 2012 and 2011, the members of Bank Mandiri’s Remuneration and Nomination Committees are as follows: 2012 2011 Chairman, concurrently as member : Edwin Gerungan Edwin Gerungan Member : Muchayat Muchayat Member : Pradjoto Gunarni Soeworo Member : Gunarni Soeworo Mahmuddin Yasin Member : Krisna Wijaya Pradjoto Member : Cahyana Ahmadjayadi Cahyana Ahmadjayadi Member : Wahyu Hidayat Krisna Wijaya Secretary ex-officio : Alex Denni Sanjay Bharwani Board Decision Letter No. KEP.DIR3222012 dated 6 December 2012 on Appointment of Members of Committees under the Board of Commissioners of PT Bank Mandiri Persero Tbk. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2012 AND 2011 Expressed in millions of Rupiah, unless otherwise stated Appendix 513 1. GENERAL continued

h. Structure and Management continued

As at 31 December 2012 and 2011, the Risk Monitoring and Good Corporate Governance Committee Bank Mandiri are as follows: 2012 2011 Chairman, concurrently as member : Pradjoto Pradjoto Member : Edwin Gerungan Edwin Gerungan Member : Muchayat Muchayat Member : Cahyana Ahmadjayadi Cahyana Ahmadjayadi Member : Krisna Wijaya Krisna Wijaya Member : Tama Widjaja Tama Widjaja Secretary ex-officio : Lisana Irianiwati Lisana Irianiwati As at 31 December 2012 and 2011 Bank Mandiri has a total of 30,762 and 27,907 employees unaudited, respectively.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The consolidated financial statements of the Bank and Subsidiaries “Group” were authorised to be issued by the Board of Directors on 25 February 2013. The principal accounting policies adopted in preparing the consolidated financial statements of the Bank and Subsidiaries are set out below: The consolidated financial statements have been prepared in accordance with Indonesian Financial Accounting Standards, and the Capital Market Supervisory Agency and Financial Institution Bapepam and LK regulation No. VIII.G.7 Attachment of the Chairman of Bapepam and LK’s decree No. KEP- 347BL2012 dated 25 June 2012, “Financial Statements Presentation and Disclosure for Issuer or Public Companies”.

a. Basis of Preparation of the Consolidated Financial Statements

The consolidated financial statements have been prepared under the historical cost, except for financial assets classified as available for sale, financial assets and liabilities held at fair value through profit or loss and all derivative instruments which have been measured at fair value. The consolidated financial statements are prepared under the accrual basis of accounting, except for the consolidated statements of cash flows. Consolidated statements of cash flows are prepared using the direct method by classifying cash flows in operating activities, investing and financing activities. The financial statements of a Subsidiary company engaged in sharia banking have been prepared in conformity with the Statement of Financial Accounting Standards SFAS 101 Revised 2011, “Presentation of Financial Statement for Sharia Banking”, SFAS 102 “Accounting for Murabahah”, SFAS 104 “Accounting for Istishna”, SFAS 105 ”Accounting for Mudharabah”, SFAS 106 “Accounting for Musyarakah”, SFAS 107 “Accounting for Ijarah”, SFAS 110 “Accounting for Sukuk” Accounting Guidelines for Indonesian Sharia Banking PAPSI 2003 and other Statements of Financial Accounting Standards established by the Indonesian Institute of Accountants and also accounting and reporting guidelines prescribed by the Indonesian banking regulatory authority and Bapepam and LK. The preparation of financial statements in accordance with Indonesian Financial Accounting Standards requires the use of estimates and assumptions. It also requires management to make judgments in the process of applying the accounting policies the Group. The area that is complex or requires a higher level of consideration or areas where assumptions and estimates could have a significant impact on the consolidated financial statements as disclosed in Note 3.