SALARIES AND EMPLOYEE BENEFITS

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 5138 50. EMPLOYEE BENEFITS Under the Bank’s policy, in addition to salaries, employees are entitled to allowances and benefits, such as holiday allowance THR, medical reimbursements, death allowance, leave allowance, functional allowance for certain levels, pension plan for permanent employees, incentives based on employee’s and the Bank’s performance, and post-employment benefits in accordance with prevailing Labor Law. Pension Plan Bank Mandiri has five pension plans in the form of Employer Pension Plans DPPK as follows: a. One defined contribution pension fund, Dana Pensiun Pemberi Kerja Program Pensiun Iuran Pasti DPPK-PPIP or Bank Mandiri Pension Plan Dana Pensiun Bank Mandiri DPBM which was established on 1 August 1999. The DPBM’s regulations were approved by the Minister of Finance of the Republic of Indonesia through its Decision Letter No. KEP300KM.0171999 dated 14 July 1999 and was published in supplement of the State Gazette of the Republic of Indonesia No. 62 dated 3 August 1999 and Bank Mandiri’s Directors’ Resolution No. 004KEP.DIR1999 dated 26 April 1999 and were amended based on the Minister of Finance of the Republic of Indonesia’s Decision Letter No. KEP-213KM.52005 dated 22 July 2005 and was published in the supplement of the State Gazette of the Republic of Indonesia No. 77 dated 27 September 2005 and Bank Mandiri’s Directors’ Resolution No. 068KEP.DIR2005 dated 28 June 2005. Bank Mandiri and the employees contribute 10.00 and 5.00 of the Base Pension Plan Employee Income, respectively. The Board of Directors and the members of the Supervisory Board of the DPBM are active employees of Bank Mandiri; therefore, in substance, Bank Mandiri has control over the DPBM. DPBM invests a part of its investment fund in Bank Mandiri time deposits and deposit on-call, of which total balance as at 31 December 2014 and 2013 were Rp374,090 and Rp97,200 respectively. The interest rates on these time deposits are given on arms-length basis. For the years ended 31 December 2014 and 2013, the Bank has paid pension contributions amounting to Rp290,647 and Rp252,762, respectively. b. Four defined benefit pension funds, Dana Pensiun Pemberi Kerja Program Pensiun Manfaat Pasti DPPK-PPMP which were derived from the respective pension plans of the ex-legacy Merged Banks, namely Dana Pensiun Bank Mandiri Satu or DPBMS BBD, DPBMD BDN, DPBMT Bank Exim and DPBME Bapindo. The regulations of the respective pension plans were approved by the Minister of Finance of the Republic of Indonesia’s through its decision letters No. KEP-394KM.0171999, No. KEP-395KM.0171999, No. KEP-396KM.0171999 and No. KEP-397KM.0171999 all dated 15 November 1999. Based on the approval from shareholders No. S-923M-MBU2003 dated 6 March 2003, Bank Mandiri has adjusted pension benefits for each Pension Fund. Such approval has been incorporated in each of the Pension Fund’s Regulations Peraturan Dana Pensiun PDP which have been approved by the Minister of Finance of the Republic of Indonesia based on its decision letters No. KEP115KM.62003 for PDP DPBMS, No. KEP116KM.62003 for PDP DPBMD, No. KEP117KM.62003 for PDP DPBMT, and No. KEP118KM.62003 for DPBME, all dated 31 March 2003. 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 5139 50. EMPLOYEE BENEFITS continued Pension Plan continued The members of the defined benefit pension plans are the employees from the legacy banks who have rendered three or more services years at the time of merger and are comprise of active employees of the Bank, former employee those who have resigned and did not transfer their beneficial right to other pension plan and pensioners. Based on the decision of the General Meeting of Shareholders dated 28 May 2007, Bank Mandiri increased the pension benefit from each of the Pension Plans. The decision was stated in each Pension Plan Regulation and has been approved by the Minister of Finance of the Republic of Indonesia with decision letter No. KEP-144KM.102007 DPBMS; No. KEP-145KM.102007 DPBMD; No. KEP-146KM.102007 DPBMT and No. KEP-147KM.102007 DPBME, all dated 20 July 2007. Based on the approval of the General Meeting of Shareholders AGM on 17 May 2010, Bank Mandiri increased the retirement benefits of each pension fund. Decision to increase pension benefits was set forth in the Regulation of Pension Fund respectively and has been approved by the Minister of Finance Decree No. KEP-441KM.102010 dated 10 August 2010 DPBMS; No. KEP-442KM.102010 dated 10 August 2010 DPBMD; No. KEP-443KM.102010 dated 10 August 2010 DPBMT and No. KEP-444KM.102010 dated 10 August 2010 DPBME. Based on the approval of the General Meeting of Shareholders AGM on 23 May 2011, Bank Mandiri increased the retirement benefits of each pension fund. Decision to increase pension benefits was set forth in the Regulation of Pension Fund respectively and has been approved by the Minister of Finance Decree No. KEP-588KM.102011 dated 20 July 2011 DPBMS; No. KEP-589KM.102011 dated 20 July 2011 DPBMD; No. KEP-590KM.102011 dated 20 July 2011 DPBMT and No. KEP-591KM.102011 dated 20 July 2011 DPBME. Based on the approval of the General Meeting of Shareholders AGM on 2 April 2013, Bank Mandiri increased the retirement benefits of each pension fund. Decision to increase pension benefits was set forth in the Regulation of Pension Fund respectively and has been approved by the Minister of Finance Decree No. KEP-349NB.12013 dated 14 June 2013 DPBMS; No. KEP- 350NB.12013 dated 14 June 2013 DPBMD; No. KEP-351NB.12013 dated 14 June 2013 DPBMT and No. KEP-352NB.12013 dated 14 June 2013 DPBME. Based on the approval of the Board of Commissioner Meeting on 2 July 2014, Bank Mandiri gave other benefits to each pension fund. Decision to give this other benefits was set forth in the respective Regulation of Pension Fund and has been approved by the Minister of Finance Decree No. KEP-1773NB.12014 dated 17 July 2014 DPBMS; No. KEP-1774NB.12014 dated 17 July 2014 DPBMD; No. KEP-1775NB.12014 dated 17 July 2014 DPBMT and No. KEP- 1776NB.12014 dated 17 July 2014 DPBME.