MARKETABLE SECURITIES continued MARKETABLE SECURITIES 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 81

7. MARKETABLE SECURITIES continued

e. Details of bonds by rating continued: Rating Fair valueat costamortised cost December 31, December 31, December 31, December 31, Rating Agencies 2015 2014 2015 2014 Foreign currencies Available for sale Marketable securities Bonds PT Pertamina Persero Moody’sFitch Baa3 BBB- 4,217,700 3,803,297 PT Perusahaan Listrik Negara Persero Pefindo idAAA idAAA 1,049,993 213,177 PT Bank Negara Indonesia Persero Tbk. Moody’s Baa3 Baa3 292,018 407,219 PT Perusahaan Gas Negara Persero Tbk. Moody’s Baa3 Baa3 132,751 88,608 Bank of China Hongkong, Ltd SP A+ A+ 132,704 25,563 PT Bank Rakyat Indonesia Persero Tbk. Moody’s Baa3 Baa3 122,204 122,612 PT Pelindo Persero Moodys Baa3 - 73,320 - Bank Of East Asia SP - A- - 27,421 6,020,690 4,687,897 Total 6,020,690 4,687,897 Information on rating of bonds were obtained from Bloomberg, which is based on ratings issued by the rating agencies, such as Pemeringkat Efek Indonesia Pefindo, Standard and Poor’s, Moody’s and Fitch Ratings. f. Average interest rate yield per annum: December 31, December 31, 2015 2014 Rupiah 7.85 6.74 Foreign currencies 3.88 5.56 g. Movements of allowance for impairment losses on marketable securities: December 31, December 31, 2015 2014 Beginning balance 301,779 317,066 Allowance during the year Note 44 34,394 18,804 Others 27,004 34,091 Balance at end of year 309,169 301,779 Includes effect of foreign exchange translation. Management believes that the allowance for impairment losses on marketable securities is adequate. h. Information in respect of classification of “non-impaired” and “impaired” is disclosed in Note 61A. 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 82

7. MARKETABLE SECURITIES continued

i. Investment in mutual fund of the Bank are classified as available for sale: December 31, December 31, 2015 2014 Protected Mutual Fund BNP Paribas Selaras IV 2,513,844 - Protected Mutual Fund Schroder IDR Income Plan I 1,005,484 - Protected Mutual Fund Emco VII 905,628 - Protected Mutual Fund Emco VIII 603,764 - Protected Mutual Fund Emco Terproteksi 412,883 411,671 Protected Mutual Fund BNP Paribas Selaras - 1,507,907 Protected Mutual Fund BNP Paribas Selaras II - 1,010,412 Protected Mutual Fund Schroder Income Plan X - 808,405 Protected Mutual Fund Schroder IDR Income Plan XI - 804,267 5,441,603 4,542,662 RDT Schroder Regular Income Plan XI and BNP Paribas Selaras II matured on April 2015, Reksa Dana Terproteksi BNP Paribas Selaras and Reksa Dana Terproteksi Schroder Regular Income Plan X matured in November 2015. The main underlying assets of the mutual funds consist of government bonds. j. As of December 31, 2015, marketable securities with total nominal amount are Rp500,000 December 31, 2014: Rp450,000 were sold under repurchase agreements Note 28. k. As of December 31, 2015, marketable securities with total nominal amount USD65,000,000 full amount December 31, 2014: Rp65,000,000 full amount had been pledged as collateral for funds borrowing from other banks Note 36c.

8. GOVERNMENT BONDS

This account consists of bonds issued by Government of the Republic of Indonesia which are obtained by the Group from primary and secondary markets as of December 31, 2015 and 2014, with details as follows: December 31, December 31, 2015 2014 Related party Note 55 Government bonds Fair value through profit or loss 1,583,907 1,745,205 Available for sale 74,153,603 61,187,145 Held to maturity 20,811,293 21,195,694 At cost 6,054,722 875,973 Investments in unit-linked contracts Fair value through profit or loss 1,265,836 1,149,889 103,869,361 86,153,906 Government bonds owned by Subsidiary which was recorded in accordance with SFAS 110 “Accounting for Sukuk”. Investments in unit-link contracts are investments owned by policyholders of Subsidiary’s unit-linked contracts which are presented at fair value. 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 83

8. GOVERNMENT BONDS continued

a. By maturity The government bonds, by remaining period of maturity, are as follows: December 31, December 31, 2015 2014 Rupiah Fair value through profit or loss Government bond Less than 1 year 621,972 114,550 1 - 5 years 384,211 601,347 5 - 10 years 407,901 410,816 Over 10 years 137,447 618,492 1,551,531 1,745,205 Investments in unit-link contracts Less than 1 year 210,782 18,721 1 - 5 years 44,968 97,069 5 - 10 years 525,698 562,420 Over 10 years 484,388 471,679 1,265,836 1,149,889 2,817,367 2,895,094 Available for sale Less than 1 year 2,576,119 1,895,913 1 - 5 years 43,744,002 22,979,323 5 - 10 years 3,097,608 24,716,089 Over 10 years 514,063 - 49,931,792 49,591,325 Held to maturity Less than 1 year 10,897,849 412,758 1 - 5 years 9,439,045 20,326,052 5 - 10 years 50,272 40,756 Over 10 years 148,349 157,528 20,535,515 20,937,094 At cost Less than 1 year 2,890,495 714,000 1 - 5 years 3,013,879 23,385 5,904,374 737,385 Total 79,189,048 74,160,898 Government bonds owned by Subsidiary which was recorded in accordance with SFAS 110 “Accounting for Sukuk”. Investments in unit-linked contracts are investments owned by policyholders of Subsidiary’s unit-linked contracts which are presented at fair value.