Tax Expense - Current continued

PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012 Expressed in millions of Rupiah, unless otherwise stated Appendix 5106 34. EMPLOYEE BENEFIT LIABILITIES 2013 2012 Rupiah - Provision for post-employment benefit Note 50 1,965,656 1,635,427 - Provisions for bonuses, leave and holiday entitlements 2,619,413 2,177,891 4,585,069 3,813,318 The provision for post-employment benefit such as pension fund and other long term remuneration is according to Bank and Subsidiaries’ policy which had been calculated using actuarial calculation.

35. OTHER LIABILITIES

2013 2012 Rupiah: Liability to policyholders 1,955,475 1,342,629 Payable to customers 1,271,409 1,058,361 Liability related to ATM and credit card transaction 1,001,071 1,231,126 Non controlling interest from Subsidiary’s mutual fund consolidation 857,009 777,276 Guarantee deposits 744,712 878,283 Deferred income directly attributable 555,001 653,656 Deferred income not directly attributable 181,831 142,884 Customers transfer transaction 138,046 130,256 Payable from purchase of marketable securities 726 22,940 Others 4,624,750 3,614,293 Total Rupiah 11,330,030 9,851,704 Foreign currencies: Guarantee deposits Note 61B.v 1,357,207 1,030,110 Customers transfer transaction 535,090 623,867 Deferred income not directly attributable 447,467 313,707 Other liabilities related to UPAS transactions Note 61B.v 283,127 1,075,973 Deferred income directly attributable 5,813 848 Others 207,480 883,832 Total foreign currencies 2,836,184 3,928,337 14,166,214 13,780,041 Liabilities to policy holders consists of Subsidiary’s AXA Mandiri Financial Services and Mandiri AXA General Insurance liability for future policy benefits for non unit-linked policyholders, claim payables, unearned premium income and estimated claim liabilities, amounting to Rp1,368,306, Rp35,394, Rp399,103 and Rp152,672 as at 31 December 2013 and amounting to Rp1,042,530, Rp33,526, Rp160,266 and Rp106,307 as at 31 December 2012. Payable to customers are mostly represent payable arising from marketable securities transactions done by PT Mandiri Sekuritas the Bank’s subsidiary. Liability related to ATM and credit card transactions represents payable arising from ATM transactions via ATM Bersama, ATM Link and ATM Prima network and payable to Visa and MasterCard on credit card transactions. Non- controling interest from Subsidiary’s mutual funds consolidation represents the portion of non- controling arises from consolidation of mutual funds controlled by Subsidiary AXA Mandiri Financial Services. Guarantee deposits are cash guarantee deposited by the Bank’s customers for export and import transaction and bank guarantee issuance. Deferred income directly attributable represents unamortised provisioncommissions income directly attributable to loans. Deferred income not directly attributable represents unamortised provisioncommissions income not directly attributable to loans. Payable from purchase of marketable securities represents the Bank’s liability related to purchase of marketable securities transactions that have been subsequently settled on 3 January 2014 and 3 January 2013, respectively for the year 2013 and 2012. PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012 Expressed in millions of Rupiah, unless otherwise stated Appendix 5107 35. OTHER LIABILITIES continued Other liabilities related to UPAS transactions represents liability to the paying bank in foreign currencies in relation to UPAS receivables from importer. Others mostly consist of inter-office account, liabilities related to import transaction, and suspense such as settlement of cust omer’s financial transaction such as money transfer.

36. FUND BORROWINGS

2013 2012 Rupiah: Related parties Note 55 a PT Permodalan Nasional Madani Persero 2,369 18,712 g Others 775,945 916,156 778,314 934,868 Third parties b Bank Indonesia - 755 c Ministry of Public Housing Kemenpera 109,021 17,262 g Others 3,241,145 1,980,889 3,350,166 1,998,906 Total Rupiah 4,128,480 2,933,774 Foreign currencies: Third parties d Direct Off-shore Loans 8,121,615 6,828,922 e Bilateral Loan 3,041,233 963,750 f Trade Financing Facilities 705,860 882,386 Total foreign currencies Note 61B.v 11,868,708 8,675,058 15,997,188 11,608,832 a PT Permodalan Nasional Madani Persero This account represents fund borrowings granted by PT Permodalan Nasional Madani Persero to Bank Mandiri and Bank Sinar Harapan Bali BSHB. The outstanding loan balance as at 31 December 2013 and 2012 for Bank Mandiri are RpNil and Rp9,102, respectively, and for BSHB are Rp2,369 and Rp9,610, respectively. These facilities bear interest rate at 7.00 per annum. The payment schedule of fund borrowing terms depend on the terms of the individual loan agreement, the last in June 2013 for the Bank and for the month of June 2014 for BSHB. Bank Mandiri lent this fund to the members of Primary Cooperation Kredit Koperasi Primer kepada Anggotanya [KKPA]. The Bank has repaid the loan on June 2013. The outstanding balance as at 31 December 2013 was from BSHB. b Bank Indonesia This account represents credit liquidity facility obtained from Bank Indonesia BI, which was lent to Bank Mandiri’s debtors under the Government Credit Program. The administration and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state-owned enterprise, based on Law No. 231999 dated 17 May 1999 regarding BI, BI Regulation No. 23PBI2000 dated 1 February 2000 and BI Regulation No. 520PBI2003 dated 17 September 2003 regarding the hand-over of Bank Indonesia’s Credit Liquidity Management in relation to Credit Program. This facility bears interest at rates ranging from 3.75 per annum and wil be matured on various dates, the latest is at the end of 2013. This facility was already paid at the maturity date. The details of this account are as follows: 2013 2012 Small-Scale Investment Loans KIK - 755 PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2013 AND 2012 Expressed in millions of Rupiah, unless otherwise stated Appendix 5108 36. FUND BORROWINGS continued c Ministry of Public Housing Kemenpera This account represents a Liquidity Facility of House Financing FLPP with sharing financing of 70.00 from Ministry of Public Housing’s fund and 30.00 from Bank Mandiri’s fund, in accordance with the Memorandum of Understanding between the Ministry of Public Housing No. 07SKBM2012 and PT Bank Mandiri Persero Tbk. No. DIR.MOU0032012 dated 15 February 2012 regarding the Amendment of Memorandum of Understanding between the Ministry of Public Housing No. 13SKBDP2011 and PT Bank Mandiri Persero Tbk. No. DIR.MOU0152011 regarding the Funding Distribution of Liquidity Facility of House Financing FLPP in the framework of the housing procurement through the Welfare House Ownership Loan. The agreement was followed by Operational Cooperation Agreement between Public Service Center of House Financing Agency of the Ministry of Public Housing of the Republic of Indonesia No. 02SK.9HK.02.0422012 with PT Bank Mandiri Persero Tbk. No. DIR.PKO0102012 dated 15 February 2012 regarding the Funding Distribution of Liquidity Facility of House Financing FLPP in the framework of the housing procurement through the Welfare House Ownership Loan. The outstanding loan balance as at 31 December 2013 and 2012 was amounted to Rp109,021 and Rp17,262. The facility bears interest at 0.50 per annum. The loan has a payment schedule of maximum 240 months 20 years with the first installment start at the following month for fund disbursed from date of 1 until 10, and start the next two months for the fund disbursed from date of 11 until the end of the month. The repayment principal and interest to Kemenpera will be made not later than the date of 10 for each month. d Direct Off-shore Loans The details of direct off-shore loans are as follows: 2013 2012 Deutsche Bank AG, Singapore 3,651,000 2,891,250 Standard Chartered Bank, Singapore 3,042,500 2,409,375 Asian Development Bank - Tranche A 544,570 574,018 - Tranche B 121,380 191,819 Agence Française de Développement 762,165 762,460 8,121,615 6,828,922 Deutsche Bank AG, Singapore 2013 Interest Nominal amount Type Arranger Maturity Date Tenor Rate USD Rupiah months per annum full amount equivalent Standby Loan Deutsche Bank AG, LIBOR 6 months Singapore 23 June 2016 60 + certain margin 300,000,000 3,651,000 2012 Interest Nominal amount Type Arranger Maturity Date Tenor Rate USD Rupiah months per annum full amount equivalent Standby Loan Deutsche Bank AG, LIBOR 6 months Singapore 23 June 2016 60 + certain margin 300,000,000 2,891,250