EMPLOYEE BENEFITScontinued Bank Mandiri Eng 31 Des 2016 Released Password Removed

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 190

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: December 31, 2016 2015 2014 2013 2012 Present value of defined benefit obligations 2,434,892 1,976,724 1,924,202 1,597,813 1,757,767 Fair value of plan assets - - - - - Deficit in the plan 2,434,892 1,976,724 1,924,202 1,597,813 1,757,767 Experience adjustments on plan liabilities 152.490 62,579 95,820 24,497 93,991 Experience adjustments on asset program - - - - - Reconciliation of PVDBO: December 31, 2016 UUK DPBMS DPBMD DPBMT DPBME No. 132003 Beginning balances of PVDBO 1,482,397 1,600,082 606,730 445,196 1,976,724 Current service cost - - - - 168,654 Interest cost of PVDBO 133,031 143,666 53,990 40,125 183,279 Benefit payments from plan assets 164,138 175,620 76,818 45,662 93,991 Actuarial gainslosses from PVDBO: Gainslosses on change of assumption in economic 31,021 145,753 83,247 15,309 352,716 Gainslosses on experience adjustment 88,335 40,686 50,267 24,615 152,490 Ending balances of PVDBO 1,393,976 1,673,195 717,416 479,583 2,434,892 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 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