Legal Matters FS Bank Mandiri Tbk 311211 Eng 1 Final opini

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 5190 59. GOVERNMENT GUARANTEE FOR THE OBLIGATIONS OF LOCALLY INCORPORATED BANKS continued In accordance with the Joint Decree of the Chairman of the Board of Directors of Bank Indonesia and IBRA No. 3246KEPDIR and No. 181BPPN0599 dated 14 May 1999, the term of these guarantees have been extended automatically, unless IBRA issued a notification for not to extend the term of such guarantee at least 6 six months time before the expiry of that period. In 2001, the Joint Decree of the Chairman of the Board of Directors of Bank Indonesia and IBRA canceled by Bank Indonesia Regulation No. 37PBI2001 and IBRA Chairman Decision No. 1035BPPN0401. In 2001, the Chairman of IBRA issued Decree No. SK-1036BPPN0401 that regulated specific guidelines for the Government of the Republic of Indonesia guarantees on the obligations of locally incorporated banks. The government charged the premium associated with the guarantee program in accordance with applicable regulations Note 37. Based on Presidential Decree No. 152004 dated 27 February 2004 about the duty cessation and the closure of IBRA, and the Minister of Finance Decree No. 84KMK.062004 dated 27 February 2004, the Government of the Republic of Indonesia established a Government Guarantee Unit UP3, a new institution to replace IBRA, to continue implementing the Government Guarantee Program for Liability in Local Banks. In accordance with the Regulation of the Minister of Finance No. 17PMK.052005 dated 3 March 2005, starting on 18 April 2005 types of bank liabilities are guaranteed by the Government Guarantee Program include demand deposits, saving deposits, time deposits and fund borrowings from other banks in form of Interbank Money Market transactions. Government Guarantee Program through Government Guarantee Unit UP3 was terminated on 22 September 2005, as stated in the Regulation of the Minister of Finance of the Republic of Indonesia No. 68PMK.052005 dated 10 August 2005 about Premium Calculation and Payment of Government Guarantee Programs on Obligations of Banks for the period 1 July until 21 September 2005. In lieu of UP3, the Government has established an independent institution, the Indonesia Deposit Insurance Corporation LPS based on the Law of the Republic of Indonesia No. 24 year 2004 dated 22 September 2004 concerning the Indonesia Deposit Insurance Corporation, where LPS ensure public funds, including funds from other banks in demand deposits, time deposits, certificates of deposit, savings andor other equivalent form. Based on the Indonesia 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 amounting to Rp100,000,000 full amount. In accordance with Government Regulation PP No. 66 year 2008 regarding the Amount of the Guaranteed Savings Guaranteed by Indonesia Deposit Insurance Corporation, the value of each customer deposits in one bank guaranteed by the Government is amounting to Rp2,000,000,000 full amount which was previously Rp100,000,000 full amount, effective since 13 October 2008. Based on the Law of the Republic of Indonesia No. 7 year 2009, Government Regulation in Lieu of Law on the Indonesia Deposit Insurance Corporation has been enacted into Law since the date of 13 January 2009. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2011 AND 2010 Expressed in millions of Rupiah, unless otherwise stated Appendix 5191 60. ACCOUNTS RECLASSIFICATION Certain accounts in the consolidated financial statement as at 31 December 2010 and 1 January 2010 have been reclassified to conform with the presentation of the consolidated financial statements as at 31 December 2011 refer to Note 2b.i. The details of the accounts reclassifications are as follows: 31 December 2010 Before Reclassification Reclassification After Reclassification Consolidated statement of financial position Balance sheet Liabilities Obligation due immediately 757,465 658,366 1,415,831 Current tax payable - 750,432 750,432 Tax payable 1,408,798 1,408,798 - Minority interest in net assets of consolidated subsidiaries 527,228 527,228 - Equity Non controlling interest in net asset of consolidated Subsidiary - 527,228 527,228 Difference in transactions of equity changes in Subsidiaries 22,702 22,702 - Unrealised losses from decrease in fair value of available for sale marketable securities and government bonds - net of deferred tax 405,197 22,702 427,899 Statement of Cash Flow Cash flow from operating activities Increasedecrease in operating liabilities and temporary syirkah funds: Obligation due immediately 183,908 241,117 425,025 Taxes payable 3,473,497 3,354,221 119,276 Payment of corporate income tax - 3,595,338 3,595,338 1 January 2010 Before Reclassification Reclassification After Reclassification Consolidated statement of financial position Balance sheet Liabilities Obligation due immediately 573,557 417,248 990,805 Current tax payable - 1,438,581 1,438,581 Tax payable 1,855,829 1,855,829 - Minority interest in net assets of consolidated subsidiaries 189,494 189,494 - Equity Non controlling interest in net asset of consolidated Subsidiary - 189,494 189,494 Difference in transactions of equity changes in Subsidiaries 22,890 22,890 - Unrealised losses from decrease in fair value of available for sale marketable securities and government bonds - net of deferred tax 561,176 22,890 584,066 Presented after adjustment in respect of initial implementation of SFAS 50 Revised 2006 and SFAS 55 Revised 2006 refer to Note 50.