GENERAL INFORMATION continued g. Subsidiaries associates continued

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

1. GENERAL INFORMATION continued g. Subsidiaries associates continued

PT Mandiri Tunas Finance continued This acquisition has been approved by Bank Indonesia through the Decree of the Governor of Bank Indonesia No. 113DPB1TPB1-1 dated January 8, 2009. The amendment of the TFS’s name to become MTF was undertaken on June 26, 2009, in accordance with a resolution on notarial deed of PT Tunas Financindo Sarana No. 181 dated June 26, 2009, notarised by notarial Dr.Irawan Soerodjo, S.H., Msi. The Articles of Association was approved by the Ministry of Law and Human Rights Republic of Indonesia in its decision letter No. AHU-4056.AH.01.02.TH.09 dated August 26, 2009. Prior to January 1, 2011, goodwill arising from acquisitions amounted to Rp156,807 MTF 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 Rp96,697. Mandiri International Remittance Sendirian Berhad Mandiri International Remittance Sendirian Berhad “MIR” is a wholly owned Subsidiary of Bank Mandiri and became a Malaysian legal entity on March 17, 2009 based on registration No. 850077-P. MIR is engaged in money remittance service under the provisions of the Bank Negara Malaysia “BNM”. MIR has obtained an approval from Bank Indonesia “BI” through letter No. 10548DPB1 dated November 14, 2008 and approval from BNM to conduct operational activities through its letter No. KL.EC.15018562 dated November 18, 2009. MIR officially commenced its operations on November 29, 2009 and is currently located in Kuala Lumpur, Malaysia. The services provided by MIR is currently limited to remittance service to Bank Mandiri’s customer accounts. PT AXA Mandiri Financial Services PT AXA Mandiri Financial Services AXA Mandiri is a joint venture company between PT Bank Mandiri Persero Tbk. Bank Mandiri and National Mutual International Pty Ltd NMI that is engaged in Life Insurance. AXA Mandiri was formerly established under the name of PT Asuransi Jiwa Staco Raharja on September 30, 1991 by notarial deed No. 179 of Muhani Salim, S.H. The deed of establishment was approved by the Minister of Justice of the Republic of Indonesia through its letter No. C2-6144.HT.01.01.TH.91 dated October 28, 1991. The Company obtained its life insurance license through General Directorate of Finance Institution decision letter No. KEP.605KM.131991 and officially commenced its operations on December 4, 1991. The Company’s name was then changed to PT Asuransi Jiwa Mandiri and subsequently changed to PT AXA Mandiri Financial Services. This change was approved by the Ministry of Justice and Human Rights in its decision letter No. C-28747.HT.01.04.TH.2003 dated December 10, 2003, and was published in State Gazette No. 64, Supplement No. 7728 dated August 10, 2004 with composition shareholder 51.00 of NMI and 49.00 of Bank Mandiri. The shareholders of Bank Mandiri, at the Annual General Meeting held on May 17, 2010 in article 7, had approved the acquisition of additional shares in AXA Mandiri through the purchase of 2.00 of the total shares issued and fully paid shares in AXA Mandiri directly from NMI. 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 24

1. GENERAL INFORMATION continued g. Subsidiaries associates continued