EMPLOYEE BENEFITS continued EMPLOYEE BENEFITS continued

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 191

50. EMPLOYEE BENEFITS continued Labor Law No. 132003 continued

Reconciliation of plan assets: December 31, 2016 DPBMS DPBMD DPBMT DPBME Beginning fair value of plan assets 1,516,555 1,820,417 817,262 578,209 Benefit payments from plan assets 164,138 175,620 76,818 45,662 Interest income on plan assets 136,276 164,598 73,991 52,761 Result of plan assets exclude interest income 131,746 1,078 13,283 9,566 Ending fair value plan assets 1,620,439 1,810,473 827,718 575,742 December 31, 2015 DPBMS DPBMD DPBMT DPBME Beginning fair value of plan assets 1,566,369 1,894,023 806,043 559,406 Benefit payments from plan assets 161,482 178,782 73,142 46,806 Interest income on plan assets 127,382 155,080 66,179 46,055 Result of plan assets exclude interest income 15,714 49,904 18,182 19,554 Ending fair value plan assets 1,516,555 1,820,417 817,262 578,209 Mutations in other comprehensive income: Mutations in other comprehensive income for the Bank only for the year ended December 31, 2016 and 2015 as follows: December 31, 2016 UUK DPBMS DPBMD DPBMT DPBME No. 132003 Accumulation of actuarial gainslosses on beginning year 7,087 5,913 3,454 1,290 290,552 Actuarial loses of the current year 7,087 5,913 3,454 1,290 200,226 Accumulation of actuarial gainson ending year - - - - 90,326 December 31, 2015 UUK DPBMS DPBMD DPBMT DPBME No.132003 Accumulation of actuarial gainslosses on beginning year - - - - - Actuarial gains of the current year 7,087 5,913 3,454 1,290 290,552 Accumulation of actuarial gainson ending year 7,087 5,913 3,454 1,290 290,552 Employee benefits liabilities maturing on December 31, 2016 related to UUK No. 132003 are as follows: December 31, 2016 Year - 1 212,866 Year - 2 236,252 Year - 3 204,283 Year - 4 300,802 Year - 5 378,984 Year - 6 and later 51,603,210 52,936,397 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 192

50. EMPLOYEE BENEFITS continued Labor Law No. 132003 continued

The actuarial calculation of the pension benefit obligation for the Subsidiary on the date December 31, 2016 based on the estimated actuarial calculations for the years ended December 31, 2015. Provision for Subsidiaries post-employment benefit on December 31, 2016 and 2015 has been calculated by an independent actuary as stated in the following independent actuarial reports: Independent Independent Subsidiaries actuary 2016 2015 PT Dayamandiri PT Bank Syariah Mandiri Dharmakonsilindo December 15, 2016 December 23, 2015 PT Dayamandiri PT Mandiri Sekuritas Dharmakonsilindo January 4, 2017 January 11, 2016 PT Jasa Aktuaris Praptasentosa PT Bank Mandiri Taspen Pos Guna Jasa January 5, 2017 January 4, 2016 PT Dayamandiri PT Mandiri Tunas Finance Dharmakonsilindo January 3, 2017 January 14, 2016 PT Dayamandiri PT AXA Mandiri Financial Services Dharmakonsilindo January 12, 2017 January 7, 2016 PT Dayamandiri PT Mandiri AXA General Insurance Dharmakonsilindo January 6, 2017 January 7, 2016 PT Sigma PT Asuransi Jiwa InHealth Indonesia Prima Solusindo January 6, 2017 December 31, 2015 PT Kompujasa PT Mandiri Utama Finance Aktuaria January 6, 2017 December 31, 2015 The sensitivity of the defined benefit obligation to changes in actuarial assumptions are as follows Bank Mandiri unaudited: December 31, December 31, 2016 2015 Impact on defined benefits obligation Changes of assumptions: 1 increase in discount rate 2,028,234 1,686,865 1 decrease in discount rate 2,918,966 2,322,885 51. OTHER OPERATING EXPENSES - OTHERS - NET Year ended December 31, 2016 2015 Insurance premiums on third party funds guarantee program 1,370,422 1,327,476 Insurance sales force compenstation 980,081 852,220 Fees and commissions expenses 665,707 737,454 Fees related to credit card and ATM transaction 433,560 397,698 Fees from RTGS, remittance and clearing transactions 70,574 61,171 Others 170,898 202,018 3,691,242 3,578,037 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated 193

52. NON-OPERATING EXPENSEINCOME - NET Year ended December 31,

2016 2015 Building rental income 13,645 14,848 Gain on sale of fixed assets 120 228 Penalties 9,196 6,413 BOT transactions income - 29,266 Others - net 44,331 7,471 39,762 30,458 53. COMMITMENTS AND CONTINGENCIES The following accounts represent accounts which are recorded as off-balance sheet: December 31, December 31, 2016 2015 COMMITMENTS Commitment payables: Unused loan facilities granted Related parties 38.790.412 20,811,629 Third parties 81.630.934 84,527,024 120.421.346 105,338,653 Outstanding irrevocable letters of credit Note 31: Related parties 3.519.396 5,107,643 Third parties 8.577.270 5,816,945 12.096.666 10,924,588 Commitment payables - net 132.518.012 116,263,241 CONTINGENCIES Contingent Receivables: Guarantees received from other banks 17,741,644 20,021,563 Interest receivable on non-performing assets 6,793,156 9,466,919 Others 32,729 32,729 24,567,529 29,521,211 Contingent payables: Guarantees issued in the form of: Bank guarantees Note 31: Related parties 23,212,078 23,280,899 Third parties 51,054,206 51,230,192 74,266,284 74,511,091 Standby letters of credit Note 31 Related parties 6,739,568 6,560,416 Third parties 6,424,992 6,175,309 13,164,560 12,735,725 Others 907,215 432,992 Include committed and uncommitted unused loan facilities.