EMPLOYEE BENEFITS continued Bank Mandiri Tbk Eng 31 Des 2015 Released

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 178

50. EMPLOYEE BENEFITS continued Labor Law No. 132003

continued The present value of funded benefit obligations, fair value of plan assets and the surplus on the program for the last five years, which are Bank Mandiri only: 2015 2014 2013 2012 2011 Present value of defined benefit obligations 1,976,724 1,924,202 1,597,813 1,757,767 1,547,952 Fair value of plan assets - - - - - Deficit in the plan 1,976,724 1,924,202 1,597,813 1,757,767 1,547,952 Experience adjustments on plan liabilities 62,579 95,820 24,497 93,991 127,820 Experience adjustments on plan assets - - - - - Reconciliation of PVDBO: December 31, 2015 UUK DPBMS DPBMD DPBMT DPBME No.132003 Beginning balances of PVDBO 1,474,919 1,647,936 634,988 504,829 1,924,202 Current service cost - - - - 260,608 Interest cost of PVDBO 119,608 134,162 51,639 41,416 158,580 Provision for termination benefit - - - - 13,684 Benefit payments from plan assets 161,482 178,782 73,142 46,806 - Benefit payments by the company other then termination benefit - - - - 69,315 Benefit payments for termination by the company - - - - 13,683 Actuarial gainslosses from PVDBO: Gainslosses on change of assumption in demographics 168 237 101 132 26,013 Gainslosses on change of assumption in economic 111,371 131,029 48,331 40,587 208,760 Gainslosses on experience adjustment 160,891 128,032 41,677 13,524 62,579 Ending balances of PVDBO 1,482,397 1,600,082 606,730 445,196 1,976,724 December 31, 2014 UUK DPBMS DPBMD DPBMT DPBME No.132003 Beginning balances of PVDBO 1,391,476 1,472,346 589,041 474,597 1,597,813 Current service cost - - - - 146,083 Past service cost on benefit change 6,493 5,417 3,164 1,181 - Interest cost of PVDBO 120,563 127,166 50,805 41,314 134,108 Provision for termination benefit - - - - 59,659 Benefit payments from plan assets 160,688 175,925 73,935 48,516 - Benefit payments by the company other then termination benefit - - - - 94,869 Benefit payments for termination by the company - - - - 59,659 Actuarial gainslosses from PVDBO: Gainslosses on change of assumption in economics 68,247 82,286 31,512 29,084 45,247 Gainslosses on experience adjustment 48,828 136,646 34,401 7,169 95,820 Ending balances of PVDBO 1,474,919 1,647,936 634,988 504,829 1,924,202 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 179

50. EMPLOYEE BENEFITS continued Labor Law No. 132003