INVESTMENT IN SHARES 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 115

18. FIXED ASSETS continued Others continued

b. Estimated fair values of land and buildings owned by the Bank as of December 31, 2015 and 2014 is determined using value of Sales Value of Tax Object NJOP. NJOP is regarded as the best estimates which reflect the fair value. As of December 31, 2015, the NJOP of land and buildings owned by the Bank are Rp19,502,208 and Rp3,658,460, respectively December 31, 2014: Rp17,899,621 and Rp3,470,513. For assets other than lands and buildings, there is no significant difference between the estimated fair value and carrying value of fixed assets. c. Land rights acquired through Leasehold Certificate HGB that can be renewed will expire between 2016 and 2039. Based on past experience, the Group has the confidence to extend the HGB. d. As of December 31, 2015, Bank Mandiri have insured their fixed assets excluding land rights, construction in progress and leased assets to cover potential losses from risk of fire, theft and natural disaster with PT Asuransi Adira Dinamika, PT Asuransi Dayin Mitra Tbk., PT Asuransi Himalaya Pelindung, PT Asuransi Indrapura, PT Asuransi Jasatania, PT Asuransi Jasa Indonesia Persero, PT Asuransi Jasaraharja Putera, PT Asuransi Jaya Proteksi, PT Asuransi Rama Satria Wibawa, PT Asuransi Ramayana Tbk., PT Asuransi Staco Mandiri formerly PT Asuransi Staco Jasapratama, PT Asuransi Wahana Tata, PT Caraka Mulia, PT Estika Jasatama, PT Gelora Karya Jasatama, PT Krida Upaya Tunggal, PT Mandiri AXA General Insurance formerly PT Asuransi Dharma Bangsa, PT Sarana Lindung Upaya, PT Asuransi Bosowa Periskop, PT Asuransi Umum Bumiputeramuda 1967, PT Asuransi Astra Buana, PT Asuransi Bangun Askrida, PT Asuransi Bintang, PT Asuransi Tugu Pratama, PT Central Asia Raya, PT Rama Satria Wibawa, PT Asuransi Parolamas dan PT Asuransi Sinar Mas, with total sum insured Rp8,878,933 dan USDNil full amount December 31, 2014: Rp5,560,233 and USD1,213,609 full amount. Management believes that the above insurance coverage is adequate to cover possible losses that may arise on the assets insured. e. Management also believes that there is no impairment of fixed assets as of December 31, 2015 and 2014.

19. INTANGIBLE ASSETS December 31, December 31,

2015 2014 Software 1,492,077 1,221,468 Goodwill 423,115 423,115 1,915,192 1,644,583 Net of amortisation of Rp1,877,989 and Rp1,575,399 as of December 31, 2015 and 2014. Software are amortised over its useful lives, which is 5 years refer to Note 2.r.i. As of December 31, 2015 and 2014, included in the software balance are construction in progress for software amounting to Rp471,478 and Rp374,844, respectively. The estimated percentage of completion of software as of December 31, 2015 was ranging between 15.00 - 95.00 December 31, 2014: 15.00 - 95.00. Goodwill arises from the difference between the cost of acquisition with the fair value of Subsidiaries’s assets acquired. Goodwill is assessed regularly for impairment. As of December 31, 2015 and 2014 there is no impairment of goodwill. 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 116

20. OTHER ASSETS December 31, December 31,

2015 2014 Accrued income 4,060,993 3,272,972 Others - net 7,231,734 7,966,426 11,292,727 11,239,398 Accrued Income December 31, December 31, 2015 2014 Rupiah 3,297,600 2,725,046 Foreign currencies Note 61B.v 763,393 547,926 4,060,993 3,272,972 Accrued income mainly consist of accrued interest receivables from placements, marketable securities, government bonds, loans and accrued fees and commissions. Others - net December 31, December 31, 2015 2014 Rupiah: Receivables from customer transactions 888,426 1,757,865 Receivables from mutual fund 626,492 696,502 Receivables from government bonds pledged as collateral 592,668 592,614 Receivables from transactions related to ATM and credit card 477,159 636,502 Receivables from policy holders 453,560 144,861 Abandoned properties - net of accumulated losses amounting to Rp947 as of December 31, 2015 and 2014 149,325 149,325 Receivables from sales of marketable securities 92,688 - Repossessed assets - net of accumulated losses amounting to Rp9,850 as of December 31, 2015 and 2014 11,565 23,688 Others 3,255,764 2,821,972 Total 6,547,647 6,823,329 Foreign currencies: Receivables to policyholder Note 61B.v 23,247 6,389 Receivable from sale of marketable securities Note 61B.v 6,922 261,870 Receivables from customer transactions Note 61B.v 6,802 6,337 Others 1,079,145 1,120,006 Total 1,116,116 1,394,602 7,663,763 8,217,931 Less: Allowance for possible losses 432,029 251,505 Net 7,231,734 7,966,426