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PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 22

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PT Bank Mandiri Taspen Pos continued On May 28, 2013, the Bank increased its investment in BSHB amounted to 11.77 of the total shares issued and fully paid, or at Rp32,377,072,750 full amount to purchase shares owned by a couple BSHB minority shareholders with a total of 23,546,962 shares full amount. The addition of the Banks investments in BSHB has received approval from Bank Indonesia as contained in the letter of Bank Indonesia No, 1533DPB1PB1-1 dated May 6, 2013. On December 22, 2014, BSHB hold a Extraordinary General Meeting of Shareholders approved the issuance of 800,000,000 full amount of new shares to be bought by Bank Mandiri, PT Taspen Persero and PT Pos Indonesia Persero. Changes in the composition of ownership has been effective on May 28, 2015 with the approval of the statement of changes in shareholders BSHB by FSA Banking, with the composition of the final ownership is Bank Mandiri 58.25, PT Taspen 20.2, PT Pos 20,2 and individual shareholders 1.35. FSA Banking also approved Taspen and PT Pos as a new shareholder as well as additional capital injection BSHB Bank in BSHB amounted to Rp198,000. On July 24, 2015, the FSA has approved the change of name of PT Bank Sinar Harapan Bali to PT Bank Mandiri Taspen Post and give permission to conduct business under the name of Bank Mantap. The name change is accompanied permit change of logo of the FSA on July 31, 2015. The name and logo change has been announced to the public on August 7, 2015. Prior to January 1, 2011, goodwill arising from the acquisition of PT Bank Mandiri, Taspen, Pos amounting to Rp19,219 amortized using the straight-line method over 5 five years with the estimation of economic benefits of the goodwill. Effective January 1, 2011, in accordance with SFAS 22 Revised 2009, Business Combinations, goodwill is not amortized but is tested for impairment annually. Bank periodically evaluates the impairment of goodwill in accordance with SFAS 48 Impairment of Assets see Note 2s. The balance of goodwill on December 31, 2015 amounted to Rp21,043. PT Mandiri Tunas Finance PT Mandiri Tunas Finance “MTF”, formerly PT Tunas Financindo Sarana “TFS” is a company engaged in consumer financing activities. MTF was established based on notarial deed of Misahardi Wilamarta, S.H., No. 262 dated May 17, 1989 and approved by the Ministry of Justice through its decision letter No. C2-4868.HT.01.01.TH.89 dated June 1, 1989 and published in State Gazette No. 57, Supplement No. 1369 dated July 18, 1989. MTF commenced its commercial activities in 1989. MTF obtained a business license to operate in leasing, factoring and consumer financing from Minister of Finance in its decision letter No. 1021KMK.131989 dated September 7, 1989, No. 54KMK.0131992 dated January 15, 1992 and No. 19KMK.0172001 dated January 19, 2001. Based on notarial deed Dr. A. Partomuan Pohan, S.H., LLM, dated on February 6, 2009, the Bank entered into a sales and purchase agreement with MTF’s shareholders PT Tunas Ridean Tbk. and PT Tunas Mobilindo Parama to acquire 51.00 ownership of MTF through its purchase of 1,275,000,000 shares of MTF the nominal value of Rp100 full amount per share amounting to Rp290,000. The acquisition of 51.00 of MTF shares ownership by Bank Mandiri was approved in the Extraordinary General Shareholders’ Meeting of MTF as stated in the Minutes of Extraordinary General Shareholders’ Meeting No. 8 dated February 6, 2009 and listed in Legal Administration Ministry of Law and Human Rights as affirmed by the Ministry of Law and Human Rights through its letter No. AHU-AH.01.10-01575 dated March 11, 2009. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2015 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 23

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