2016Q3 Analysts Meeting Final

PT Bank Mandiri (Persero) Tbk

9M 2016

Results Presentation

Share Information

∆ fro : IPO Dec 31, 2015

BMRI 1,586.75% 26.20% JCI 922.48% 18.62% -200%

0% 200% 400% 600% 800% 1000% 1200% 1400% 1600% 1800%

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BMRI JCI

No. of Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.01% 14,000,000,000 60.00% 2. Retail 11,326 74.88% 181,803,715 0.78% 3. Employees 1,761 11.64% 11,612,718 0.05% 4. Cooperatives 6 0.04% 1,032,600 0.00% 5. Foundation 26 0.17% 17,299,345 0.07% 6. Pension Funds 138 0.91% 168,539,250 0.72% 7. Insurance 74 0.49% 484,566,297 2.08% 8. Banks - 0.00% - 0.00% 9. Corporations 74 0.49% 496,849,409 2.13% 10. Mutual Funds 242 1.60% 591,548,074 2.54%

Total 13,648 90.23% 15,953,251,408 68.37%

II INTERNATIONAL

1. Retail 109 0.72% 1,157,798 0.00% 2. Institutional 1,368 9.04% 7,378,924,127 31.62%

Total 1,477 9.77% 7,380,081,925 31.63%

No. Description By 30 September 2016

2

Table of Contents

Results Overview Page #



Corporate Strategy 3 –6



I do esia s E o o i Co ditio 7



Key Indicators + Financial Highlights 8 –9



SBU Performance Highlights 10



Ba k s Pe fo a e 11 –13



Loan Performance 14 –15



ROE, Forex Loan & NIM 16 –18



Fee-Based & CIR 19 –20



Wholesale Business 21 –23



Retail Business 24 –30



Non-Performing Loan & Restructured Loan 31 –34



Subsidiaries 35 –36



Corporate Guidance 37

Additional Information

Operating Performance Highlights Supporting Materials

3

Accelerate in Growth

Segments

Integrate The Group

V

Deepen Client

Relationship

Digital Safe, Fast and

Productive One Mandiri

I do esia s

Top Financial Institution:

Grow above the market, portfolio quality focused, employer of choicein Indonesia

V

V

• Become the first choice in consumer

banking, especially in the

middle-income class

• Focus on micro fixed income earners

and asset-backed consumer lending

• Selectively grow SME segment and

productive micro by focusing on asset

quality

 Drive su sidiaries perfor a e by

increasing synergies within the Mandiri Group.

 Increase distribution network

productivity

 Strengthen presence in ASEAN

countries

• Strengthen Ba k Ma di i s positio as

the No. 1 Corporate Bank

• Grow in-line with the market in the

Commercial Bankingsegment

• Offeringsector specific solutionand integrated product packages.

•Transform service model by diverting most customer transactions to digital/online thereby lowering cost to income ratio

•Lower cost of credit by strengthening our Early Warning System, collection and restructuring process

•Improve network productivity through process re-engineering and development of analytics engine

•Build human resource capabilities to support our strategic initiatives

•Encourage corporate culture synergy (value, work ethic, mindset) in Mandiri Group.

4

2016-2020 Bank Mandiri Corporate Plan

–

How We Plan To Get There

Focus on Core Business

▪

Grow corporate lending above the market growth rate and

deepen relationships with existing clients

▪

Increase fee based income & wholesale current accounts

Expanding into

Underpenerated Low-Risk

Segments

▪

Accelerate consumer lending growth: mortgages, auto loan

and salary based loans

▪

Push retail CASA growth through Bank@Work

▪

Defend market share in SME

Strengthen The Foundation

▪

Lower cost to income ratio through digitalization and

productivity enhancements

▪

Reduce NPL ratio by improving the loan underwriting process

▪

Increase utilization and sophistication of data analytics to

enhance insights and cross-selling.

5

2016-2020 Bank Mandiri Corporate Plan

–

Accelerate In

The Growth Segments

Loan Growth

Engine

Mortgage

Auto Loan

1

2

Funding

Engine

Dominate payroll segment using Bank@Work for corporate and commercial customers

Improve transaction banking offering to

tap ash a age e t for a hor lie ts value hai

1

2

Product Focus

1.

Improve processing speed

2.

Tapping higher ticket size

3.

Target developer relationships

Key initiatives

1.

Streamline segment split between MTF and MUF

2.

Utilize existing Mandiri branch network for growth

Personal Loan & Micro KSM

3

1.

Combine consumer personal loans and micro

salary-based loans

2.

Le e age o i o s dist i utio footp i t

6

Our Portfolio Mix Would Be More Retail-Focused

38%

_36%

29%

24%

11%

10%

8%

10%

14%

20%

9M 2016

2020

Consumer

Micro

Business Banking

Assets Composition Mix

1)

Commercial

Corporate

65%

70%

35%

30%

9M 2016

2020

Time Deposits

Liabilities Composition Mix

CASA

1) Excluding TSM and Wholesale Credit Recovery

7

Decreasing inflation gave room to

monetary policy easing

Inflation continues to decrease, GDP growth improving

Current account balance in 2Q16

was quite stable

Source : CEIC, Bloomberg

GDP growth rebound in 2Q16

3.07

3.21

6.5

5

2 3 4 5 6 7 8 9 10 Oct -13 Oc t-14 Oct -15 Oct -16

Headline inflation (% YoY) Core inflation (% YoY) BI Rate

7 Days RR

(10) (5) -5 10 15 (15) (10) (5) -5 10 15 20 1 Q 10 2 Q 10 3 Q 10 4 Q 10 1 Q 11 2 Q 11 3 Q 11 4 Q 11 1 Q 12 2 Q 12 3 Q 12 4 Q 12 1 Q 13 2 Q 13 3 Q 13 4 Q 13 1 Q 14 2 Q 14 3 Q 14 4 Q 14 1 Q 15 2 Q 15 3 Q 15 4 Q 15 1 Q 16 2 Q 16

Capital and Financial Account

Current Account (CA)

BoP 5.18 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 1 Q 06 3 Q 06 1 Q 07 3 Q 07 1 Q 08 3 Q 08 1 Q 09 3 Q 09 1 Q 10 3 Q 10 1 Q 11 3 Q 11 1 Q 12 3 Q 12 1 Q 13 3 Q 13 1 Q 14 3 Q 14 1 Q 15 3 Q 15 1 Q 16 5.80

8

NIM

6

.5

%

Supports

16

.4

%

YoY

PPOP

Gr

owth

22.10% 24.40% 22.00% 22.55% 22.23% 20.95% 18.33% 17.89% 11.48% 2009 2010 2011 2012 2013 2014 2015 9M15 9M16

R

e

turn

on E

qu

ity

(%

)

Tot

al

CAS

A

(Rp

Bn

)

Non P

erf

ormi

ng

Loan

(%

)

186,492 201,958 256,395 316,127 359,957 380,512 443,874 415,908 437,291 2009 2010 2011 2012 2013 2014 2015 9M15 9M16 2.79% 2.42% 2.21% 1.87% 1.90% 2.15% 2.60% 2.81% 3.81% 2009 2010 2011 2012 2013 2014 2015 9M15 9M16 7,155 9,218 12,246 15,504 18,204 19,872 20,335 14,583 12,013 2009 2010 2011 2012 2013 2014 2015 9M15 9M16

E

arni

ng

Aft

er T

a

x (

Rp

Bn

)

12,430 16,693 19,234 23,018 28,408 31,507 38,381 27,375 31,873 2009 2010 2011 2012 2013 2014 2015 9M15 9M16

P

P

OP

(

Rp

Bn

)

Ne

t

In

ter

es

t Mar

gi

n

(%

)

5.04% 5.28% 5.11% 5.46% 5.74% 5.97% 6.08% 5.81% 6.54% 2009 2010 2011 2012 2013 2014 2015 9M15 9M16 Y o Y 16 .4 % Y o Y -17 .6 % Y o Y -35 .8 % Y o Y 5 .1 % Y o Y 35 .5 % Y o Y 12 .6 %

9

Key Financial Highlights

Ba k Ma di i s

9M 2016 performance across several key indicators:

9M 2015

9M 2016



%

Loans

Rp 560.6Tn

Rp 625.1Tn

11.5%

Gross NPL Ratio

Net NPL Ratio

2.81%

1.07%

3.81%

1.27%

35.5%

18.3%

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

63.5%

Rp 415.9 Tn

63.3%

Rp 437.3 Tn

0.0%

5.1%

NIM

5.81%

6.54%

12.6%

Efficiency Ratio

43.1%

42.8%

(0.8%)

PPOP

Rp 27,374 Bn

Rp 31,874 Bn

16.4%

10

Balanced Earnings from All Business Units

371

1,320 277

358

839

619

1,205 273

378

1,048

Micro & Business Banking

Consumer Commercial Corporate Treasury & Markets

3Q '16 3Q '15

Net Interest Income Analysis 3Q 2016

(Rp Bn)

Fee Based Income 3Q 2016

(Rp Bn)

2

,685

1

,105

1

,306

735

3Q'16 3Q'15

763

1

,410

514

635

3Q'16 3Q'15

1

,043 986

3

,529

2

,054

3Q'16 3Q'15

1

,515

1

,855

2

,089

727

3Q'16 3Q'15

3,991

1,840

1,277 2,045

4,572

3,040

3,604

2,582

Treasury & Markets

Corporate Banking

Commercial Banking

Consumer Banking

Micro & Business

Banking

1

,079 ₈₆₉

52

49

3Q'16 3Q'15

918 1,131

Deposits by Product

–

Consolidated

(Rp Tn)

Loans by SBU + Subsidiaries

(Rp Tn)

119 .8 126 .5 135 .4 151 .8 150 .4 159 .9 166 .2 186 .9 179 .9 189 .8 198 .8 214 .7 201 .9 203 .0 208 .0 227 .7 207 .3 211 .0 218 .1 243 .7 224 .1 247 .9 247 .2 12.312.712.2 12.013.413.614.0 15.315.816.819.0 20.7 22.123.222.3 24.7 23.325.429.4 28.0 24.7 25.7 27.0 45 .3 47 .9 49 .4 67 .3 75 .0 59 .0 63 .0 77

.9 61_.2

74

.6

63

.9

73

.4 67_.2 74_.2 79_.6

78 .9 83 .4 91 .7 90 .7 101 .2 95 .4 100 .2 101 .2 25.422.3 24.0 25.328.228.028.5 36.1 33.3 38.549.2 51.1 43.545.0 52.0 49.1 58.175.8 77.6 70.9 62.4 65.6 61.8 143 .5 140 .8 140 .0 148 .1 120 .8 137 .5 138 .9 150 .7 152 .8 153 .7 155 .2 176 .2 176 .9 190 .0 201 .6 222 .3 226 .2 220 .5 212 .1 206 .3 224 .4 227 .8 229 .6 10.312.415.3 17.8 15.620.3 20.4 16.1 24.0 29.028.2 20.1 20.0 20.5 27.5 33.730.5 30.526.6 26.2 24.2 24.223.6 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 500 520 540 560 580 600 620 640 660 680 700 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16

FX Time Rp Time

FX Demand Rp Demand

FX Savings Rp Savings

91 .8 102 .3 109 .3 110 .9 117 .8 124 .0 128 .0 130 .2 128 .6 150 .8 159 .3 167 .9 164 .7 165 .2 175 .7 175 .8 174 .5 180 .6 185 .0 198 .8 185 .2 205 .0 211 .4

1.61.5 1.7

1.4 1.31.5 1.6 1.8 1.6

1.51.72.0 2.3 1.3

1.3 1.3 0.8 1.00.9 1.4 1.3 1.2 1.1 64 .7 70 .1 74 .7 80 .7 82 .5 89 .8 93 .3 102 .7 102 .0 104 .2 111 .0 116 .9 116 .3 123 .7 127 .7 142 .8 145 .1 148 .9 149 .4 160 .6 153 .7 158 .5 162 .6 32.434.3 36.339.040.7 43.344.547.749.3 52.455.2 56.657.460.3 62.4 64.7_65.7 67.769.572.373.476.1 78.9 23.3 25.827.6 30.230.9 33.135.0 38.438.4 42.5 43.746.546.3 49.0 52.0 56.0

55.3_57.957.9 60.5 56.1 60.0 59.8 7.7 8.5 9.511.8 13.1 15.116.8 19.020.7 23.9 24.9 27.0 28.2 31.0 32.734.6 37.2 39.740.0 42.5 44.2 46.0 46.7 30.3 34.2 38.4 40.540.9 43.646.0 48.950.9 53.5 54.9 55.555.355.5 54.6 54.7 54.357.057.9 59.4 60.9 63.9 64.8 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 460 480 500 520 540 560 580 600 620 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16 Subsidiaries Micro

Small Cons

Comm Int'l

Corp

Maintaining Momentum for Growth

Y-o-Y  (11.2%) 8.3% (20.4%) 11.5% 13.4% Y-o-Y  3.2% 8.8% 14.2% 12.5% (8.2%) 11.5% 625.1 Tn Total Total 654.6 Tn

690.5 Tn 5.5%

12.0%

11

560.6 Tn

13.5% 16.7%

12

Strong and Liquid Balance Sheet

Assets

3Q 2016

3Q 2015

Liabilities

3Q 2016

3Q 2015

Cash

20,126

19,062 Current Account

163,055

168,387

Current Acc w/ BI & Other Banks

57,708

71,415 Savings

274,236

247,521

Placement w/ BI & Other Banks

58,318

57,207 Time Deposits

253,216

238,688

Advances (Other)

26,637

40,750

Marketable Securities

55,633

45,922

Total Deposits

690,507

654,595

Government Bonds

102,434

101,079

Loans (Gross)

625,123

560,630 Securities Issued

8,359

1,805

Provisions of Loans

(30,091)

(21,450) Deposits from other banks

14,208

39,640

Net Loans

595,032

539,180 Subordinated Debt

3,693

3,751

Reverse Repo

2,127

1,849 Borrowings

31,166

20,173

Other Provisions

(2,252)

(2,531) Other Int. Bearing Liabilities

25,506

29,944

Deferred Tax Assets

3,493

3,986 Non Int. Bearing Liabilities

48,938

42,715

Other Assets

55,908

27,840 Equity incl. Minority Interest

152,786

113,137

13

Revenue Growth Driven by Strong Fee Income

Summary P&L (Rp Bn) 3Q 2016 2Q 2016 3Q 2015 9M 2016 9M 2015 9M Y-o-Y

(%)

3Q Y-o-Y (%)

Q-o-Q (%)

Interest Income 20,518 18,060 18,066 56,885 52,637 8.1% 13.6% 13.6%

Interest Expense 6,104 6,148 6,814 18,228 20,185 -9.7% -10.4% -0.7%

Net Interest Income 14,413 11,912 11,252 38,657 32,452 19.1% 28.1% 21.0%

Net Premium Income 751 839 886 2,296 2,441 -6.0% -15.2% -10.4%

Net Interest Income & Premium Income 15,164 12,751 12,138 40,953 34,893 17.4% 24.9% 18.9%

Other Non Interest Income

* Other Fees and Commissions 2,755 2,952 2,546 8,238 7,572 8.8% 8.2% -6.7%

* Foreign Exchange Gains - Net 618 600 533 1,635 1,394 17.2% 15.9% 3.1%

* Gain fr. sale & Incr. in Val & Sale of Bonds 263 206 (134) 672 80 N/A N/A 27.7%

* Others 1,399 1,231 2,182 3,682 4,111 -10.4% -35.9% 13.6%

Total Non Interest Income 5,036 4,988 5,127 14,226 13,157 8.1% -1.8% 0.9%

Total Operating Income 20,200 17,739 17,265 55,179 48,050 14.8% 17.0% 13.9%

Provisions, Net (6,023) (5,292) (4,495) (15,911) (8,491) 87.4% 34.0% 13.8%

Personnel Expenses (3,290) (3,488) (2,903) (10,184) (8,933) 14.0% 13.3% -5.7%

G&A Expenses (3,497) (3,640) (3,322) (10,441) (9,070) 15.1% 5.3% -3.9%

Loss from decr. in value of Sec & Gov Bonds - - -

-Other Expenses (889) (929) (744) (2,680) (2,673) 0.3% 19.4% -4.3%

Total Expense (7,676) (8,058) (6,970) (23,306) (20,675) 12.7% 10.1% -4.7%

Profit from Operations 6,501 4,390 5,800 15,962 18,884 -15.5% 12.1% 48.1%

Non Operating Income (15) (3) 5 (23) 7 N/A N/A

-Net Income Before Tax 6,486 4,387 5,805 15,939 18,891 -15.6 11.7% 47.9%

LDR Increased to 90.2%, Bank-Only Loan Growth of 11.4%

92 .5 103 .1 110 .4 111 .7 118 .6 125 .2 129 .3 131 .7 129 .9 151 .9 153 .5 169 .7 166 .7 166 .3 176 .8 177 .0 175 .1 181 .4 185 .8 200 .1 186 .4 206 .2 212 .4 64

.5 70.7 75

.3

81

.1 ₈₂.9 90

.1 93 .6 103 .0 102 .3 104 .4 118 .2 ₁₁₇ .1 116 .5 123 .9 127 .9 142 .9 145 .2 149 .1 149 .5 160 .7 153 .7 158 .6 162 .6 24.5 25.927.7 30.330.9 33.235.1 38.5 38.5 42.544.1 46.5 46.349.0 52.0 56.155.357.957.9 60.5 56.1 60.059.8 7.7 8.5 9.511.8 13.1 15.116.8 19.0 20.7 23.9 24.9

27.0 28.231.0 32.734.5

37.239.7 40.0 42.5

44.2 46.046.7

32

.4 34

.3 36.3 39

.0 40.7

43 .3 44 .5 47 .7 49 .3 52 .4 55 .2 56 .6 57

.4 60.3

62 .4 64 .7 65 .7 67 .7 69 .5 72 .3 73 .4 76

.1 78.9

1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  13.5% 16.7% 3.2% 8.8% 14.3% 11.4% Total 14.1% 8.3% 10.7% 29.0% 37.9% Break down

As of September2016; Non-consolidated numbers

14

251 .8 276 .7 297 .5 314 .4 327 .2 350 .4 365 .2 388 .8 391 .6 428 .7 450 .8 472 .4 470 .4 485 .8 506 .5 530 .0 532 .8 552 .8 560 .6 595 .5 574 .7 610 .9 625 .1 70.2% 75.9% 78.7% 74.1% 80.7% 83.4% 84.4% 80.1% 83.5% 85.0% 87.3% 84.5% 88.0% 87.0% 85.3% 82.9% 84.4% 84.1% 85.3% 87.7% 87.4% 88.1% 90.2% 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16

Loans (Rp Tn) LDR (%)

2.3% 9.9% 7.5% 5.7% 4.1% 7.1% 4.2% 6.5% 0.7% 9.5% 5.1% 4.8% -0.4% 3.3% 4.2%4.6% 0.5% 3.7% 1.4% 6.2% 0.0% 6.3% 2.3% 24.7% 26.9%28.3% 27.7% 30.0% 26.6% 22.8% 23.7% 19.7%

22.3%23.4% _21.5% 20.1% 13.3% 12.4% 12.2% 13.3% 13.8% 10.7% 12.4% 7.9% 10.5% 11.5% 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

15

Rp 89.16 Tn in Loans Disbursed in 3Q 2016

546.95

89.16

36.28

28.42 8.20 _{1.07 1.83}

560.32

2Q'16 Disburs. Install. Payment Pay-off FX Impact

Write-Offs

3Q '16

Loan Movement

–

3Q 2016 Bank-Only

Rp Tn

Loan Disbursement by Segment

–

3Q 2016 Bank-Only

Rp Tn

46.39

22.61

6.78

6.96

6.42

89.16

16

Post Asset Revaluation CAR 22.6%; ROE 11.5%

115

.9

112

.2

134

.0

172

.9

195

.8

242

.4

352

.5

400

.2

491

.3

514

.9

577

.3

621

.6

27.4 28.4 28.3 27.2 30.5 35.7 53.3 62.0 73.9 85.7 107.4 144.1 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

RWA (Rp Tn) Total Capital (Rp Tn) Rp Bn

Bank Only - Capital & RWA Movement

Profit After Tax & ROE

• CAR inclusive of Credit and Market Risk started in December 2004

• CAR inclusive of Credit, Market and Operational Risk started in January 2010

1.1Tn from GIAA Recovery 23.2% 24.6%

20.8%

15.7% _15.4% 13.4% 15.3%

15.5%

14.9% 16.6%

18.6%

22.6%

CAR

519 1,168 1,549 1,744 519

2,003 1,027

1,390 4,303

4,925 2,681 3,817 1,099

97 305

1,113 1,221 1,526

2,031

2,543 3,744 3,991

4,660 4,786

3,263

967 1,017

1,528

1,408 610

2,352 1,040

1,345 4,509

4,869 4,658

4,933

-623 1,234

1,166 1,390

2,536 2,833

3,073 4,385

5,401 5,418

5,753

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Q4 PAT Q3 PAT Q2 PAT Q1 PAT

2.5%

10.0% 15.8%

18.1%

22.1% 24.2% 22.0%

22.6% 22.2% 21.0%

18.3% 11.5%

38 .60 41 .87 44 .44 40 .35 41 .88 45 .47 45 .73 49 .62 48 .17 53 .29 59 .79 67 .75 62 .22 62 .95 72 .24 75 .38 73 .52 76 .90 78 .52 87 .79 83 .85 86 .55 77 .72 82.9% 91.5% 89.0% 75.8% 76.0% 76.2% 75.4% 76.4% 68.0% 65.1% 64.3% 69.0% 72.0% 71.3% 74.2% 73.2% 66.8% 61.1% 61.0% 73.1% 80.3% 79.2% 72.6% 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% M ar 11 Jun e 11 S e p 11 D e c 11 M ar 12 Jun 12 S e p 12 D e c 12 M ar 13 Jun 13 Se p 13 D e c 13 M ar 14 Jun e 14 S e p 14 D e c 14 M ar 15 Jun 15 S e p 15 D e c 15 M ar 16 Jun 16 S e p 16 20 30 40 50 60 70 80 90

Loan Fx

LDR FX

Prudent Management of FX Balance Sheet

USD Bn

Rp Tn

Breakdown of FX lending (Bank-Only)

3Q

16 (Total USD 5.96 Bn)

0.02 0.08 0.18 0.20 0.32 0.58 0.59 0.60 0.73 0.84 1.81

Utilities

Constr

Bus Serv

Soc Serv

Trans

Agri

Oth

Mining

Trading

Oil & Gas

Mfg



% (YoY)

20.0% -0.3% 69.1% 4.1% -15.9% 102.9% -5.5% 1,501.7% -66.5% 8.5% -60.6%

FX Loans & LDR (Bank-Only)

18

5 .33 % 5 .84 % 5 .44 % 5 .19 % 5 .54 % 5 .84 % 5 .67 % 5 .50 % 5 .34 % 5 .71 % 6 .08 % 5 .94 % 5 .90 % 5 .84 % 5 .92 % 5 .41 % 5 .79 % 5 .74 % 6 .74 % 6 .28 % 6 .00 % 7 .06 % 4 Q '09 4 Q '10 4 Q '11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 * 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 ** 1 Q' 16 2 Q' 16 3 Q' 16 ** NIM 9.4% 9.6% 8.7% 8.2% 8.1% 8.4% 8.2% 8.1% 7.8% 8.3% 9.0% 9.1% 9.2% 9.6% 9.6% 9.1% 9.2% 9.2% 9.8% 9.3% 9.1% 10.0% 4.3% 3.8% 3.4% 3.2% 2.8% 2.7% 2.7% 2.8% 2.6% 2.8% 3.1% 3.3% 3.5% 3.9% 3.8% 3.9% 3.6% 3.7% 3.3% 3.2% 3.3% 3.1%

Yield on Assets Cost of Funds

Q3 NIM of 7.06% due to FX Defered Interest Income

6.4% 7.2% 5.3% 4.8% 5.4% 5.0% 4.9% 4.8% 4.5% 4.5% 5.1% 4.4% 4.5% 4.5% 6.6% 4.2% 4.3% 4.4% 6.4% 4.6% 4.6% 13.3% 1.5% 0.7% 0.6% 0.6% 0.6% 0.7% 0.7% 0.7% 0.6% 0.6% 0.7% 0.8% 0.7% 0.7% 0.9% 1.1% 0.8% 0.7% 0.7% 1.0% 1.0% 1.2% 0% 5% 10% 15% 4 Q '09 4 Q' 10 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16 12.6% 12.5% 12.5% 11.4% 11.6% 11.8% 11.3% 11.2% 10.8% 11.1% 11.8% 11.8% 12.0%12.4% 12.2% 12.1% 12.2% 12.2% 12.1% 11.9% 11.3% 11.3% 6.7% 6.5% 4.1% 3.9% 3.3% 4.0% 4.0% 3.4%

3.9% 5.3% 5.4% 5.9% 5.7% 6.0% 6.4% 6.4% 6.7% 6.9% 7.0% 6.6% 6.7% 4.7%

4.2% 3.7% _{3.0% 3.0% 3.0%} 3.7%

4.1% 4.4% 4.5% 4.3% 3.8% 3.6% 3.5% 0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

* Starting on 4Q2014, we back out the LPS premium from the interest expense

19

Greater Detail On Fee-Based Income

Non-Loan Related Fees & Commissions

3Q

2016

2Q

2016

3Q

2015

Y-o-Y

Q-o-Q

Δ%

Δ%

Administration Fees

878

968

811

8.3%

(9.3%)

Opening L/C, BG & Cap. Market (Custodian & Trustee)

297

317

347

(14.2%)

(6.3%)

Subsidiaries

388

350

292

32.6%

10.7%

Transfer, Retail Transaction

565

584

480

17.8%

(3.2%)

Credit Cards

497

513

518

(4.1%)

(3.1%)

Mutual Fund, ORI & Bancassurance

100

100

88

14.4%

0.3%

Syndications

77

185

34

126.2%

(58.3%)

Payroll Package

18

21

21

(14.5%)

(13.4%)

Others *

(65)

(86)

(45)

44.5%

(24.8%)

Total

2,755

2,952

2,546

8.2%

(6.7%)

Foreign Exchange Gains

618

600

533

15.9%

3.1%

Gains Fr Sale & Incr. in Value of Sec. & Gov. Bonds

263

206

(134)

N/A

27.7%

Cash Recoveries

810

620

731

10.8%

30.5%

Other Income

589

611

1,451

(59.4%)

(3.5%)

Total Fee Based Income (As Reported)

5,036

4,988

5,127

(1.8%)

0.9%

% of Non Loan Related fees to total Opr. income

24.9%

28.1%

29.7%

20

1

,524 1,510 1,883 2,107 1,614 ,004 2 2,071 2,565 2,034 2,322 2,375 ,167 3 2,309 2,693 2,958 3,488 2,574 3,173 3,322 3,730 3,305 3,640 3,497

1

,547 1,631

1

,671

1

,903

1

,865

1

,939 1,869

2

,372

2

,042

2

,336 2,679

2

,374

2

,626

2

,662

2

,752

2

,807

2

,920

3

,109

2

,903

3

,444

3

,406

3

,488 3

,290

1

Q'

11

2

Q'

11

3

Q'

11

4

Q'

11

1

Q'

12

2

Q'

12

3

Q'

12

4

Q'

12

1

Q'

13

2

Q'

13

3

Q'

13

4

Q'

13

1

Q'

14

2

Q'

14

3

Q'

14

4

Q'

14

1

Q'

15

2

Q'

15

3

Q'

15

4

Q'

15

1

Q'

16

2

Q'

16

3

Q'

16

G&A Expenses Personnel Expenses

3Q Cost to Income Ratio of 38.5%

Breakdown of 3Q 2016 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

(Rp Bn) (Rp Bn)

32.4% 37.3% 39.0%

41.6%

44.0%_43.2%

42.7% 51.3%

41.1% 43.1%

42.5% 48.4%

41.8% 43.2%

46.6%

44.4%

44.4% 45.2%

40.1% 42.7%

44.5% 46.0%

38.5%

CIR (%)

*) Reclassification from Occupancy Related to Employee Related

Q3 2016

Q2 2016

Q3 2015

Growth QoQ YoY Personnel Expenses

Base Salary 891 880 795 1.2% 12.1%

Other Allowances 1,452 1,673 1,434 (13.2%) 1.2%

Post Empl. Benefits 97 105 100 (7.6%) (2.9%)

Training 138 134 99 2.5% 39.2%

Subsidiaries 712 696 476 2.4% 49.7%

Total Personnel Expenses 3,290 3,488 2,903 (5.7%) 13.3% G&A Expenses

IT & telecoms 505 522 489 (3.3%) 3.2%

Occupancy Related * 700 781 668 (10.3%) 4.8%

Promo & Sponsor 292 273 300 7.0% (2.7%)

Transport & Travel 157 203 157 (22.6%) 0.4%

Goods, Prof. Svcs. & Oth. 483 460 458 4.9% 5.3%

Employee Related 571 603 541 (5.3%) 5.7%

Subsidiaries 788 798 710 (1.2%) 11.1%

Total G&A Expenses 3,497 3,640 3,322 (3.9%) 5.2%

Other Expenses 889 929 744 (4.3%) 19.4%

21

Top 10 Industries in Corporate Lending Expansion

3Q 16

–

3Q 15 (Total Rp26.53 Tn)

Rp Bn

1,412 1,451 1,547 2,040 3,789 4,142 4,918 5,437 5,576 6,066

Mfg-RawM Real Estate Mining-Coal Soc Serv Roads & Bridge Mfg-F&B Trad-Ret Electricity Mfg-Chem Trad-Exp

%

22.9%

21.0%

20.5%

18.5%

15.6%

14.3%

7.7%

5.8%

5.5%

5.3%

Rp Bn

Top 10 Industries in Commercial Lending Expansion

3Q 16

–

3Q 15 (Total Rp13.10 Tn)

522 546 678 712 1,020 1,057 1,139 1,326 1,494 8,350

Mfg-F&B Food Crops Health Constr Comm Bus Serv Real Estate Trad-Distr Trad-Exp Plantations

%

63.7%

11.4%

10.1%

8.7%

8.1%

7.8%

5.4%

5.2%

4.2%

4.0%

22

Whol

es

al

e

Trans

acti

ons

Dri

vi

ng

CA

SA

Whol

esal

e CAS

A

Deposi

ts

(Rp

Bn

)

58,055 62,257 61,691 53,604 74,116 89,959 74,334 73,192 140,278 141,540 131,988 -20,000 40,000 60,000 80,000 100 ,000 120 ,000 140 ,000 160 ,000 180 ,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 3Q15 3Q16 -6 .7 % Yo Y Gro wt h 745 2,414 4,066 6,153 7,784 10,943 11,899 12,932 13,629 13,873 14,105 14,397 14,676 15,101 15,565 16,200 16,853 2006 2007 2008 2009 2010 2011 2012 2013 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Ca

sh

Ma

na

g

em

en

t

Use

rs

248 677 1,178 2,201 2,657 3,598 3,989 4,484 4,832 5,123 5,266 5,384 5,704 7,085 7,392 4Q10 4Q11 4Q12 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

A

ver

age

#

of

Ca

sh

Ma

na

g

em

en

t

Tx

(000

),

t

ot

al

22

.2

Mn

tr

an

sact

ion

s

in

3

Q

2016

*) *) E xc lud ing M an di ri T ran sa ct io n S yst e m

23

Wholesale Transaction Business

Forex

34 42 63 61 56 41 _{30 41}

281,153

310,512

322,795399,500 379,730_348,436

263,681

323,381

-50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000

-10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Sep 15 Sep 16

Value (USD Bn) # of Trx

Wholesale Remittance

70 94 121 135 146 126 _{98 72}

435,866 448,219

599,909 651,241

739,046 730,011

579,147

373,602

-100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Sep 15 Sep 16

Value (USD Mn) # of Trx

*) _{Excluding Mandiri Transaction System}

Mandiri Cash Management*

549 818 1,519 2,231 3,120 3,778 2,728 3,166

2,503 7,668

13,676 24,543

44,184 61,599

45,447

59,075

(25,000) (15,000) (5,000) 5,000 15,000 25,000 35,000 45,000 55,000 65,000

-500.0 1,000.0 1,500.0 2,000.0 2,500.0 3,000.0 3,500.0 4,000.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Sep 15 Sep 16

Value (Rp Tn) # of Trx (000)

Trade Transactions : Export, Import, Domestic

85 110 125 133 137 127 97 75

495,813 510,916 517,251 520,948 509,207

468,870

349,567

286,295

-100,000 200,000 300,000 400,000 500,000 600,000

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Sep 15 Sep 16

24

Retail Deposits Increased by 9.3% Year on Year

132 .7 140 .6 146 .1 165 .0 157 .5 166 .8 176 .3 190 .9 179 .0 180 .8 184 .7 202 .6 182 .5 186 .0 188 .0 209 .8 193 .0 214 .8 212 .1

12.712.8 13.0 13.7

14.715.6 18.4

20.7

21.0 22.0 21.8 24.0

22.2 23.224.3 23.1

21.1

21.7 23.1

14.615.4 16.1 18.6

17.016.7 28.6

33.0

29.7 33.634.4 40.2

33.5 36.4 25.0 31.9 29.0 29.9 30.5 4.3 4.3 10.7 11.4

12.111.9 13.1 13.0

12.814.4 _7.8 7.6 6.9 6.5 6.8 71.670.3 71.5 71.4 72.170.7 80.2 84.5 88.4100.1 108.3 120.0 119.2116.0 110.0 110.3 112.2 115.5116.9

5.0 5.0 5.1 5.0 4.7 4.6 6.4 7.0 6.3 7.0 7.2 9.5 9.0 7.8 7.7 7.4 6.9 6.8 7.0 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits

FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail Deposit Analysis

–

Bank Only

2.2%

1.7% 2.0% 2.0% 2.0% 2.0% 2.1% 1.9% 2.1% 2.1% 2.1% 2.0% 1.8% 1.9%

2.1%

1.5% 1.5% 1.6% 1.5% 1.5% _1.4%

1.3% 1.2% 1.2% 1.2% 1.3% _{1.1% 1.1%} 6.3% 5.1% 6.6% 7.0% 7.3% 8.3% 7.9% _7.8%

7.4% 7.5% _7.2%

6.9% _{6.7% 6.6%}

0% 5% 10% 4 Q' 11 4 Q' 12 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16 Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

0.1% 0.2% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.3% 0.4% 0.2% 0.3% 0.6% 0.7% 0.8% 0.6% 0.8%

1.2% 1.2% _1.1% 1.3% 1.8% 1.2% 0.8% 0.6% 0.5% 0.5% _0.6% 0.0% 0.5% 1.0% 1.5% 2.0% 4 Q' 11 4 Q' 12 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15 4 Q' 15 1 Q' 16 2 Q' 16 3 Q' 16

FX DD FX TD

69.6% 70.1% 72.5% 71.6% 73.0% 73.7% 71.9% 68.8% 68.4% 66.2% 67.7% 67.6% 67.7% 69.1% 68.8%

25

63 ,323 66 ,851 73 ,324 81 ,046 84 ,675 91 ,504 96 ,268 105 ,192 108 ,434 118 ,788 123 ,833 130 ,158 131 ,857 140 ,189 146 ,744 155 ,338 158 ,173 165 ,304 167 ,429 175 ,211 173 ,739 182 ,190 185 ,335 28.6% 27.6%28.3% 29.6% 29.6% 29.8% 30.2% 30.9% 31.8% 31.7% 31.3% 31.2% 31.8% 32.6% 32.5% 32.7% 33.1% 33.3% 33.3% 32.7% 33.8% 33.3% 33.1% 20% 22% 24% 26% 28% 30% 32% 34% 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 110,000 120,000 130,000 140,000 150,000 160,000 170,000 180,000 190,000 200,000 210,000 220,000 230,000 1 Q 2011 2 Q 2011 3 Q 2011 4 Q 2011 1 Q 2012 2 Q 2012 3 Q 2012 4 Q 2012 1 Q 2013 2 Q 2013 3 Q 2013 4 Q 2013 1 Q 2014 2 Q 2014 3 Q 2014 4 Q 2014 1 Q 2015 2 Q 2015 3 Q 2015 4 Q 2015 1 Q 2016 2 Q 2016 3 Q 2016

Retail to Total Loans

Building our High Yield Business in Retail Lending

Retail to Total Loans

Micro Credit Business Banking Consumer

Finance

(Rp Bn) Business Banking

57,905 59,785 1,880

3Q2015 Growth 3Q2016

YoY 3.2% (Rp Bn) Micro Credit 39,996 46,668 6,671

3Q2015 Growth 3Q2016

YoY 16.7%

(Rp Bn)

69,528 78,882

9,354

3Q2015 Growth 3Q2016

YoY 13.5%

Strong M

icrof

inan

ce Growth

26

200 300 502 687 898 994 994 1,000 1,017

600 800 800 878 928 1,027 1,127 1,427 1,427 1,510 1,596

10 152 480 710 760 751 706 653

653 649 640

6

6

6

10

2008 2009 2010 2011 2012 2013 2014 2015 1Q '16 2Q '16 3Q '16

Bra

n

ch

Unit

Ki

o

sk

C

a

sh

O

u

tl

e

t

Cus

tome

rs (

000

)

Ne

tw

or

k

# Of Ne

w

Cus

tome

rs

73,566 79,500 76,325 94,855 74,037 110,000 121,007 146,359 126,509 140,064 131,715 147,825 138,747 160,620 136,196 162,181 140,886 167,145 158,909 162,738 134,501 138,500 97,164 127,828 130,227 146,323 117,565

1Q '10 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 1Q '16 2Q '16 3Q '16

271

430

562

694

815

889

1

,009

1

,112

1

,135

1

,163

1

,173

2008 2009 2010 2011 2012 2013 2014 2015 1Q '16 2Q '16 3Q '16

27

…as

el

l as Cosue

Ledi

g,

hi

h ‘ose

13

.45

%

Y

-o

-Y

as Home

Equ

it

y

Loans Gr

owth

Cont

inu

es

To Ri

se

13,500 14,268 15,523 16,466 17,779 18,764 20,113 20,919 22,818 24,092 26,135 27,357 26,995 26,690 26,505 26,347 26,495 26,207 26,340 26,369 26,832 26,869 27,651 28,001 3,957 3,964 3,979 3,949 3,887 3,777 3,679 3,571 3,471 3,365 3,312 3,240 3,181 3,172 3,198 3,240 3,310 3,326 3,432 3,534 3,739 3,892 4,313 4,914 6,374 6,398 6,708 6,861 6,995 7,143 7,412 7,753 8,206 8,386 8,958 9,374 9,781 10,030 10,642 11,253 11,880 12,201 12,838 13,408 14,103 14,497 15,279 16,160 3,589 3,575 3,761 3,910 4,296 4,245 4,492 4,590 5,035 5,025 5,195 5,303 5,620 5,557 6,855 7,568 8,288 8,343 8,751 8,683 8,970 8,768 8,761 8,674 2,826 3,454 3,492 4,200 5,115 5,829 6,593 6,609 7,209 7,486 7,905 9,013 10,218 11,083 12,260 13,271 13,983 14,890 15,630 16,641 17,608 18,344 18,981 20,001 447 698 791 873 928 964 1 ,016 1 ,037 1 ,010 966 927 904 809 840 805 765 750 683 733 892 998 1 ,043 1 ,091 1 ,133 0 5 ,000 10 ,000 15 ,000 20 ,000 25 ,000 30 ,000 35 ,000 40 ,000 45 ,000 50 ,000 55 ,000 60 ,000 65 ,000 70 ,000 75 ,000 80 ,000 85 ,000 90 ,000 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 1Q '16 2Q'16 3Q'16 Ot h e r Au to Cre d it Card s Pa yro ll Lo an s H o m e E q u ity Lo an s Mo rtga ge s

Loan

T

ype

Gr

o

wth

(%)

Y

-o

-Y

Q

-o

-Q

Ot

her

2

6

.9

6

%

3

.8

4

%

Aut

o

Loans

2

0

.1

9

%

5

.1

1

%

Cr

edi

t Car

ds

-0

.1

1

%

-1

.0

0

%

P

a

yr

ol

l Loan

s

2

0

.5

3

%

5

.7

7

%

Home

E

qui

ty Loans

3

9

.0

6

%

1

3

.9

3

%

Mortg

age

s

6

.1

9

%

1

.2

6

%

Tot

al

Consumer

1

3

.4

5

%

3

.6

9

%

Quart

er

ly

Consumer

Lendi

ng

Bal

a

nces b

y

Type

Consumer

L

endi

ng

Gr

o

wth

b

y

Type

Rp 78 .9 Tn *A u to & M o to rc yc le Loa n s ch an n el e d o r e xecu ted t h ro u gh fi n an ce co mp an ies = Rp 8 .7 Tn in o u r Comme rc ial P o rt fo lio

28

Enhanced Transaction Capabilities

Quarterly Transaction Value (Rp Tn)

Quarterly Users (Mn)

95.5 122.2 147.7 153.8 170.0 179.3

191.2 192.6 208.1 210.0

241.5 245.0

236.8 252.7

238.0

2.1 3.5 4.1 5.0 6.6

8.3 10.5 17.6 28.3

35.7 38.9 53.0 55.3

68.9 67.8

7.1 14.0 18.1

23.5 26.8

29.4 33.3 33.3 34.5

46.7

32.6 36.1 36.5 35.5 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 4 Q '09 4 Q '10 1 Q '11 2 Q '11 3 Q '11 4 Q '11 1 Q '12 2 Q '12 3 Q '12 4 Q '12 1 Q '13 2 Q '13 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 4 Q '15 1 Q '16 2 Q '16 3 Q '16 ATM Mobile Banking Internet Banking 7.7 8.6 8.2 9.2 10.0 10.6 11.1 11.6 11.8

12.4 12.6 12.6

13.6 13.8

3.2 4.7 4.9

5.3 5.6 5.8 6.1 6.3

6.5 6.7 6.8 6.9 7.0

7.1 7.2

1.2

1.0 1.1 1.2 1.3

1.4 1.5 1.6 1.7 1.8

1.9 2.0 2.1 2.1

0 2 4 6 8 10 12 14 4 Q '09 4 Q '10 1 Q '11 2 Q '11 3 Q '11 4 Q '11 1 Q '12 2 Q '12 3 Q '12 4 Q '12 1 Q '13 2 Q '13 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 4 Q '15 1 Q '16 2 Q '16 3 Q '16 Debit Cards Mobile Banking Internet Banking

Quarterly Transaction Volume (Mn)

142 157 184 189 212 218 233 235 246 249 268

293 295 287 309

291

39 36 44

41 43 41 39 44

51 53

47 48 50

46 49

45

12 18

23 26 32 31 34

57 70 113 172 196 190

254 258

17 42 55 78 85 67

76 81 89 117 102 117 131 138 149 0 25 50 75 100 125 150 175 200 225 250 275 300 325 4 Q '09 4 Q '10 1 Q '11 2 Q '11 3 Q '11 4 Q '11 1 Q' 12 2 Q '12 3 Q '12 4 Q '12 1 Q '13 2 Q '13 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 4 Q '15 1 Q '16 2 Q '16 3 Q '16 ATM Branch Mobile Banking Internet Banking

29

Retail Payment System Gaining Traction

Volume Mandiri Business

Saving Account (Rp Tn)

Numbers of EDC

23,690 27,611 33,732

47,127 92,903

180,532 230,352

270,352

286,861 287,605 292,001

269,340

2007 2008 2009 2010 2011 2012 2013 2014 2015 1_Q

16

2

Q

16

3

Q

16

Fee Income from e-channel Tx (Rp Bn)

52.1 89.4 126.2 200.3 258.2

315.2 347.6 414.7

604.3 711.7 65.5 98.5

166.6 196.5

285.7 318.6 382.0

490.3 663.4

765.2

81.9110.5 194.5

249.3 313.9

361.8 437.5

489.2 683.3

742.7

89.0 117.8

223.7 268.5

312.8 464.4

512.9 664.8

771.0

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Q4 Q3 Q2 Q1

13.8% YoY Growth

3.5 4.88.0

17.7 34.7

59.4 85.8

102.3 108.5

96.9 106.4

2007 2008 2009 2010 2011 2012 2013 2014 2015 3

Q'

15

3

Q'

16

9.8% YoY Growth

30

Making Inroads into SME and Retail Payments

Fiesta Point Program

A program to get points based on savings average balance and # of transactions through e-channel or branch, so that customer has the opportunity to earn immediate prizes.

Mandiri Belanja Untung Program

Prizes for buyers who do the transactions in the merchant (as a participants), or using Mandiri EDC. For sellers, they have the opportunity to be included into the national lucky draw.

Belanja Hoki/ Dagang Hoki Program

Co-promotion with the ITC Group for the merchants and the buyers who transact in ITC using Mandiri Debit and also a reward program for the building management.

# MTB Transaction & Volume

201 ,106 212 ,844 261 ,935 265 ,423 272 ,212 290 ,019 306 ,831 349 ,868 299 ,417 322 ,587 308 ,832 348 ,059 267 ,195 334 ,912 322 ,377 9,235 10,601 11,385 12,616 12,773 14,068 14,508 16,052 15,996 17,444 17,101 18,373

20,186 20,187 18,974

-3,000 6,000 9,000 12,000 15,000 18,000 21,000 -50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 1 Q '13 2 Q '13 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 4 Q '15 1 Q '16 2 Q '16 3 Q '16

# of Volume # of Transactions (000)

# MIB Transaction Value & Users

# SME Business w/ Mandiri Acc

543,972

643,334

789,300 845,073 822,506 853,589 854,864

2012 2013 2014 2015 1Q 2016 2Q 2016 3Q 2016

18 ,528 25 ,857 32 ,273 42 ,582 47 ,304 53 ,124 57 ,447 73 ,666 79 ,970 88 ,013 79 ,173 89 ,389 89 ,906 118 ,389 105 ,781 11,535

13,542 15,312 15,971

17,802 18,216

22,570 24,676 26,441 28,122 27,591 29,040 29,967 40,285 34,251 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 1Q '16 2Q '16 3Q '16

31

14,058 13,451 13,502 15,918 17,255 17,124 19,559 18,838 18,886 18,824 19,054 16,924 14,846 14,292 13,336 12,986 13,944 13,606 15,676 14,856 15,626 16,989 17,672 17,755 19,272 21,586 23,825 22,958 27,116 29,549 28,547 27,078 31,458 30,255 31,122 11 .5

% ₁₀.0

% 9 .2 % 9 .1 % 9 .8 % 9 .4 % 10 .4

% 9.5 % 9.4

% 8 .6 % 8 .2 % 6 .9 % 5 .9 % 5 .2 % 4 .5 % 4. 1 % 4 .3

% 3.9

%

4

.3

% 3.8

%

4.

0

% 4.0

%

3

.9

% 3.8

%

4

.1

% 4.4

%

4

.7

% 4.3

% 5 .1 % 5 .3 % 5 .1 % 4 .5 % 5 .5

% 5.0

% 5 .0 % 0 2 ,000 4 ,000 6 ,000 8 ,000 10 ,000 12 ,000 14 ,000 16 ,000 18 ,000 20 ,000 22 ,000 24 ,000 26 ,000 28 ,000 30 ,000 32 ,000 34 ,000 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 S p ec ial M ent ion S p ec ial M ent ion Rat io

NPL Mo

vem

en

t

-Cons

ol

ida

ted

5.14% 4.74% 4.44% 4.73% 5.85% 4.78% 3.79% 2.79% 2.56% 2.54% 2.60% 2.42% 2.60% 2.42% 2.56% 2.21% 2.22% 2.07% 2.04% 1.87% 2.08% 1.89% 1.90% 1.90% 2.07% 2.23% 2.16% 2.15% 2.27% 2.43% 2.81% 2.60% 3.18% 3.86% 3.81% 116 .0 % 122 .5 % 138 .9 % 127 .1 % 116 .6 % 136 .1 % 155 .2 % 206 .0 % 191 .7 % 192 .4 % 155 .5 % 185 .1 % 185 .1 % 189 .6 % 193 .4 % 185 .5 % 187 .6 % 185 .3 % 170 .3 % ₁₅₇ .4 % 157 .1 % 150 .5 % 137 .7 % 136 .2 % 145 .5 % 131 .9 % 112 .7 % 126 .6 % 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 Gr os s NPL R a ti o Pr ov/NPL

Gr

oss

NPL

s

3

.81

%,

Coverage

at

126

.6

%,

Cat

egory

2

at

5

.0

%

Ca

teg

ory

2

Loans

32

Non-Performing Loans by Segment

Movement by Customer Segment (Rp Bn)

Non-Performing Loan Movements (Rp Tn)

–

Bank-Only

* Excluding loans to other banks

Q3 2016 Total NPLs of Rp 20.66 Tn

20.44

0.67

2.64

0.31

1.83

0.38

_20.66

2Q' 2016 UG to PL DG to NPL Payment Write-Offs Other 3Q' 2016

- -

-500

791

436 74

887

529

42

671

448

58

296

412

-500 1,000 1,500 2,000 2,500 3,000

UG to PL DG to NPL W/O

Corp Comm Small Micro Cons

NPLs

2Q



NPLs

(Rp Tn)

(Rp Tn)

(%)

Corporate

3.69

0.14

1.74%

Commercial

10.31

(0.29)

6.34%

Small

3.16

0.19

5.29%

Micro

1.96

0.07

4.20%

Consumer

1.53

0.11

1.94%

33

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

#

_{3Q 2016 Details}

Loan

Background

Q

Balance

(Rp Bn)

3Q

2014

4Q

2014

1Q

2015

2Q

2015

3Q

2015

4Q

2015

1Q

2016

2Q

2016

3Q

2016

DG to

NPL

%

UG to

PL

%

Corporate

_205,218

-

0.06

-

0.11

0.38

0.24

0.13

0.24

-

-

-Commercial

_157,307

0.12

0.37

0.13

0.95

0.83

0.77

1.97

3.02

0.16

0.47

0.31

Small

_57,173

0.45

0.31

1.29

1.17

1.24

0.54

1.31

1.50

1.36

1.49

0.13

Micro

_46,648

1.19

0.83

1.25

1.37

1.50

1.08

1.37

1.45

1.35

1.44

0.09

Consumer

_78,711

0.20

0.09

0.28

0.23

0.25

0.17

0.32

0.21

0.30

0.37

0.07

Total

545,057

0.20

0.25

0.33

0.60

0.68

0.31

0.94

1.28

0.35

0.47

0.12

3Q16 Net Downgrades of 0.35% On Loans Originated since

2005

34

Restructured Loans

17 .1 14 .3 13 .1 13 .6 13 .5 13 .5 14 .2 13 .9 14 .0 11 .7 11 .7 12 .0 12 .5 12 .7 11 .2 11 .5 10 .2 11 .8 14 .4 20 .9 26 .4 28 .9 28 .3 34 .1 39 .3 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 4 Q '09 4 Q '10 1 Q '11 2 Q '11 3 Q '11 4 Q '11 1 Q '12 2 Q '12 3 Q '12 4 Q '12 1 Q '13 2 Q '13 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 4 Q '15 1 Q '16 2 Q '16 3 Q '16

Net Restructured Loans In Line With Guidance

Downgrade to Non-Performing After being Restructured

14.9% 17.2% 16.2% 13.0%12.8% 17.6% 13.5% 17.8% 26.2% 23.6% 0.8% 0.2% 3.9% 0.2% 5.5% 5.7% 1.6% 3.4% 11.7% 2.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 2 Q 14 3 Q 14 4 Q 14 1 Q 15 2 Q 15 3 Q 15 4 Q 15 1 Q 16 2 Q 16 3 Q 16

35

Enhancing Synergies & Value from Subsidiaries

Total Assets Rp74.2Tn

Bond Trading Volume Rp62.9 tn

Total Assets Rp25.6Tn

Total Loans Rp3.6Tn

Total Financing Rp13.4Tn Total Financing

Rp53.2Tn

Equity & FI Underwriting Rp19.3 tn

Annual FYP Rp1.9Tn

Net Interest Margin 8.1 %

Net Interest Margin 3.3%

Total Deposits Rp66.0Tn

Equity Trading Volume Rp97.3 tn

ROA 5.4%

ROA 2.0%

ROA 4.1% ROE

6.0%

ROE 11.5%

ROE 70.1%

ROE 7.8%

ROE 22.3%

•Remains the leader in

syariah financing

•Capital injection program

over 3 years

•Cross-selling syariah

products to Mandiri customers

•Expansion of business to

fully utilize current capital base

•Cross-sell capital market

services to broad range of Mandiri customers

•Refocus business toward

higher fee income

•Providing end-to-end bank

assurance business

•Continue to build cross-sell

opportunities in various segments

•Bancassurance products to

complete our suite of consumer offerings

•Enhancing operating

model

•Improving risk

management systems and IT

•Improving productivity

• Pe et ate Ba k Ma di i s

network and customer base to develop the

multifinance segment with a strong focus on new 4 wheel vehicles.

Investment Banking

AXA

Mand

iri

Fi

nanci

al

Servi

ces

Perf

orman

ce

36

90 245 235 171 183 237 255 258 234 262 259 298 270 269 256 348 297 316 308 360 274 247 387 331 280 369 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 1Q '16 2Q '16 3Q '16 Ne t Pr of it A ft e r Ta x (R p Bn ) A n n u a l Fi rs t Ye a r Pr e m iu m (AF YP) ( Rp Bn ) # of P ol icy H ol d e rs 000 ) 599 549 673 820 742 769 946 796 892 712 667 695 850 726 774 611 832 874 648 648 816 719 893 760 668 816 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 1Q '16 2Q '16 3Q '16 811 893 1,519 1,603 1,639 1,695 1,744 1,791 1,859 1,878 1,919 1,967 2,033 2,123 2,217 2,354 2,479 2,657 2,962 3,162 3,360 3,465 3,710 3,832 3,961 3,978 2Q '10 3Q '10 4Q '10 1Q '11 2Q '11 3Q '11 4Q '11 1Q '12 2Q '12 3Q '12 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15 4Q '15 1Q '16 2Q '16 3Q '16 13 .5 % Y o Y G ro w th 49 .5 % Y o Y G ro w th 14 .8 % Y o Y G ro w th

37

Ba k Ma di i s

2016 Corporate Guidance

2016 Target

9M2016 Realization

Gross Loan Growth (YoY)

10% - 12%

11.5%

Low Cost Deposits

Rp 480 Tn

Rp 437.3 Tn

Net Interest Margins

5.80% - 6.00%

6.54%

Efficiency Ratio

<45.00%

42.76%

Gross NPLs

3.5% - 4.0%

3.81%

Cost of Credit

2.8% - 3.2%

3.50%

# of New ATMs

567

73

# of New EDCs

5,000

-17,521

# of New Micro Network

398

105

38

Operating Performance

39

Corporate Banking:

Generating Strong Asset Spread

Performance to Date: 9M 2016 (Rp Bn)

_{Strategies for 2016}

1. Focusing on Anchor Clients and

penetrating through using of

Transaction Banking

2. Account Plan implementation for top

76 Corporate Banking Customers.

3.

P o ide o e stop se i e solutio s fo

usto e s t a sa tio s a d eate

new business process to accelerate

the execution of Account Plan

including effective and responsive

Complaint Handling.

4. Strengthen business alliance with

Mandiri InHealth & Mandiri DPLK to

ease corporate customers to manage

their needs in health insurance &

pension fund / severance

4,779

3,086

1,337 471

8,731 ₈₂₈

40

InHealth

–

Opportunity to Increase Fee Income and

Contribute to the Insurance Portfolio

Leveraging our institutional, corporate, &

commercial customers

Providing solutions through our banking

products to InHealth healthcare provider

Cross-selling Mandiri products to InHealth

members

We have over 700 institutional, 300 corporate, and 1,700 commercial customers with the potential to become members of InHealth

• InHealth has over 7,137 healthcare providers and recorded

over Rp 778 Bn in claims year to date 2016

• Bank Mandiri will leverage the hospital network asI Health s

partner to increase transactions through enhanced cash management products

• Bank Mandiri also will provide retail packaged products for

all the doctors asI Health spartner

InHealth earned premium payments of Rp 1,025 Bn in 2016 year to date from clients. Going forward, Bank Mandiri will encourage the use of cash management products through

Bank Mandiris distribution channels and cross sell other

products to over 1 Mn InHealth members.

692

,831

1

,023

,228

1

,175

,240

1

,118

,206

1

,141

,896

1

,087

,313

940

,696

1

,068

,280

5,501 6,242 6,314 6,262 6,094 6,189

7,072 7,137

-2,000 4,000 6,000 8,000

-200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000

2009 2010 2011 2012 2013 2014 2015 9M

2016

Total Member # of Providers

36 78 47 107 120 203 155 108 126

203 811

1,073 1,203

1,410 1,400 1,432

1,146 1,272

0 50 100 150 200 250

-200 400 600 800 1,000 1,200 1,400 1,600

2009 2010 2011 2012 2013 2014 2015 9M

2015 9M 2016

41

1. Implement client segmentation

strategy for Treasury anchor and

non-anchor clients.

2.

Increase retail coverage of fixed

income and structured products.

3. Develop new FI client coverage model

and implement segmentation strategy.

4.

‘e italize o e seas offi es fu tio as

a distribution channel, and introduce

new business models.

5. Enhance retail brokerage program in

Mandiri Sekuritas.

6. Upgrade business license status of

Mandiri Sekuritas Singapore Office.

Treasury & Market

Performance to Date: 9M 2016 (Rp Bn)

_{Strategies for 2016}

3,222

2,877 382

Mandiri Sekuritas

fi a ial pe fo

a e

(Rp Bn)

42

Q3 2016

Q3 2015

Y-o-Y



(%)

Revenues

526

310

69%

•

Investment Banking

101

83

22%

•

Capital Market

237

167

42%

•

Proprietary

46

(10)

575%

•

Investment Mgt

142

70

102%

)

Operating Expenses

384

253

52%

Earnings After Tax

99

29

245%

Equity Transactions

–

bn

97,324

83,660

16%

SUN Transactions

–

bn

62,941

49,497

27%

Equity & Bonds Underwriting

–

bn

19,319

7,665

152%

ROA

8.3%

3.5%

4.8%

Commercial Banking:

Strong revenues from Assets

43

1.Support Bank

Ma di i s

Wholesale

Banking vision as an Integrated

Wholesale Bank through

sophisticated, customized and complete

services leading to increased revenue

through Wholesale Deposit generation

and Fee Income.

2.Increasing profit and market share

th ough i

easi g e isti g usto e s

share of wallet, increasing revenue from

e usto e s a d a agi g NPL s.

3.Provide the best total business solutions

for commercial customers by developing

products and services including quality

bundling of products, quick service and

competitive pricing.

4.Effective Alliance in units based on

customer base in Commercial

segment, especially in developing value

chain business.

Performance to Date: 9M 2016 (Rp Bn)

_{Strategies for 2016}

2,812

1,362

710 390

4,494

5,963

44

Commercial Banking :

Stronger Platform & Improved Distribution Capability

* Resegmentation

** Business Savings Product

Expanding Scope of Distribution, 3Q 2016

Solid & Stable Source of

_{Low Cost Funds}

Product 3Q

2016

3Q*

2015 Growth

Demand

Deposit 36.20 30.49 118.73%

Rupiah 21.22 17.04 124.53%

FX 14.98 13.45 111.38%

Saving

Deposit** 7.98 7.80 102.31%

Total CASA 44.18 38.31 115.32%

Total Funding 60.97 57.81 105.47%

CASA Ratio = 72.46%

Funding from Java & Bali = 73% of total funding

Sumatera Loans = Rp 26 tn Funds = Rp 10 tn

Kalimantan Loans = Rp 8 tn Funds = Rp 4 tn

Eastern Loans = Rp 5 tn Funds = Rp 2 tn

Java and Bali Loans = Rp 124 tn

Funds = Rp 45.tn

CBC = 25 Unit Floor = 23 Unit

45

1.

Continue to develop retail payment

solutions for top retail industry value

chains and business clusters in order

to increase low cost deposit and

fee-based income

2.

Develop customer education to

further increase usage of new retail

products (e.g., prpaid) as well as

e-channel transactions in order to

i

ease usto e s lo alt a d

balances.

Micro & Business Banking:

Rapidly growing our high margin business

Performance to Date: 9M2016 (Rp Bn)

_{Strategies for 2016}

4,763

5,283

1,750

2,549

9,247

3,663

46

Business Banking :

* Numbers are restated after Resegmentation in Jul 2015

Medan

Makassar Banjarmas

in Surabaya Semarang

Denpasar Bandung

Pekanbaru Palembang B.Lampung

Pontianak

Samarinda

Manado

Palu _Jayapura

Balikpapan Batam

Jambi Pematang siantar Padang

Bekasi Jakarta

Solo Tangerang Bogor

Branch Models that covered SME Customers M-1 Branch : 78

M-2 Branch : 72 M-3 Branch : 170

Expanding Scope of Distribution, 3Q 2016

Solid & Stable Source of

_{Low Cost Funds*}

Product 4Q

2015

3Q 2016

Growth YTD

Demand

Deposit 36.4 34.6 -5.1%

Saving

Deposit 74.3 72.0 -3.1%

Total CASA 110.7 106.6 -3.7%

Total

Funding 133.2 131.1 -1.5%

Rp Tn

CASA Ratio = 81,28%

Funding from Java & Bali = 74.9% of total funding

Sumatera Loans = Rp 14.1tn Funds = Rp 17.8 tn

Kalimantan Loans = Rp 9.1 tn Funds = Rp 6.2 tn

Eastern Loans = Rp 7.9 tn Funds = Rp 8.9 tn

Java and Bali Loans = Rp 28.6 tn Funds = Rp 98.2 tn

47

10.31 13.28 16.06 23.97 36.73 37.44 39.93 41.82 44.50 46.30 48.40 49.70 50.46 49.82 49.60 49.32 49.13 48.80 50.40 50.60 51.09 50.74 52.71 53.24 4Q '07 4Q '08 4Q '09 4Q'10 4Q '11 1Q '12 2Q '12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 Fi na n ci ng 91.1% 89.1% 83.1% 82.7% 86.2% 87.2% 92.2% 93.9% 93.9% 95.6% 94.2% 91.3% 89.4% 90.3% 89.9% 85.7% 82.1% 81.7% 85.3% 84.5% 82.0% 80.1% 82.6% 80.4% FDR

BSM

Add

ress

ing As

se

t Qu

al

ity

Issues

Sy

ari

a

h

Fi

n

an

ci

ng

(

Rp

tn

)

Fi

n

an

ci

a

l P

er

for

mance

(Rp

bn

)

FY 09 FY FY FY FY FY FY Q Fi n an ci n g 16,063 23,968 36,664 44,755 50,460 49,133 51,090 53,243 De p o si ts 19,338 28,999 42,618 47,409 56,461 59,821 62,113 65,978 A ss e ts 22,037 32,482 48,672 54,229 63,965 66,942 70,369 74,242 E A T 29 0.94 41 8.52 55 1.07 80 5.69 65 1.24 71 .78 28 9.58 24 6,2 R ati o s: R O A ( % ) 2.23 2.21 1.95 2.25 1.53 0.17 0.56 0.60 R O E ( % ) 21.40 25.05 24.24 25.05 15.34 1.49 5.92 5.98 G ro ss N PF 4.84% 3.52% 2.42% 2.82% 4.32% 6.83% 6.06% 5.43%

Ne

t

In

ter

es

t Ma

rgi

n

& Cos

t of

Fund

s

YoA CoF _NIM

6.3% 6.3% 6.6% 6.6% 7.5% 6.9% 6.9% 7.0% 7.3% 7.1% 7.3% 7.2% 7.3% 6.3% 6.2% 6.0% 6.2% 6.3% 6.3% 6.4% 6.5% 6.5% 7.2% 4Q '07 4Q '08 4Q '09 4Q'10 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 2Q'16 3Q'16 12.4% 13.0% 12.7% 12.3% 13.0% 11.5% 12.0% 12.2% 12.4% 12.3% 12.4% 12.1% 12.0% 11.1% 11.1% 11.0% 10.9% 10.6% 10.0% 10.6% 10.9% 10.8% 10.9% 5.4% 5.7% 5.6% 5.1% 5.2% 4.5% 4.7% 4.5% 4.5% 4.6% 4.0% 4.0% 4.1% 4.4% 4.5% 4.5% 4.4% 4.4% 4.3% 4.2% 4.2% 3.8% 3.7%

48

Consumer Banking:

Significant growth in spread and fee income

1.

#1 in Auto with new product and 2W

subsidiary build up

2.

#1

position

in Credit

Card

with

innovation and portfolio optimization

3.

#1 in mortgage via new segments and

mandiri synergies

4.

Drive growth in personal loans via new

products and distritbution.

5.

#1 bank for

I do esia s

Gen-Y

6.

Recognized

innovator

in

banking-unbanked.

7.

Extend #1 position in wealthy and

affluent.

Performance to Date: 9M 2016 (Rp Bn)

_{Strategies for 2016}

11,484

4,333

1,550

14,267

1,399

Mandiri Tunas Finance: Total Financing YTD of Rp13.4Tn

49

Total Disbursement and the Breakdown

for Joint Financing and Non JF

_{Breakdown of Financing}

_{3Q 2016 Performance}

257 576 884 761 1,054 1,110 1,016 523 1,506 1,199 1,409 1,600 1,454 1,909 1,020 2,217 1,858 2,908 2,415

1 ,530 1 ,592 981 1

,771 1,478

1 ,728 2 ,224 2 ,456 2

,056 2,408 2,206

2 ,391 2 ,236 1 ,936 3 ,094 2 ,975 3 ,012 1,909 1 ,262 Q 1 '12 Q 2 '12 Q 3 '12 Q 4 '12 Q 1 '13 Q 2 '13 Q 3 '13 Q 4 '13 Q 1 '14 Q 2 '14 Q 3 '14 Q 4 '14 Q 1 '15 Q 2 '15 Q 3 '15 Q 4 '15 Q 1 '16 Q 2 '16 Q 3 '16 JF Non JF 1

,353 1,609 1,420 2,075 ,1052 2,416 2,871 2,678 3,290 ,3743 3,398 3,824 3,549 3,732 3,975 5,062 4,761 4,727 3,636

373 486 396 401 372 345 289 232

208 162 149

108 96 71 82 73 67 70 36 60 72 49 56 56 76 80 70 64 70 68

60 45 41

57 56

41 ₁₉

Q 1 '12 Q 2 '12 Q 3 '12 Q 4 '12 Q 1 '13 Q 2 '13 Q 3 '13 Q 4 '13 Q 1 '14 Q 2 '14 Q 3 '14 Q 4 '14 Q 1 '15 Q 2 '15 Q 3 '15 Q 4 '15 Q 1 '16 Q 2 '16 Q 3 '16 Motorcycle Used Car New Car

(Rp Bn)

3Q

2016

3Q

2015

Change

Loans 29,722 24,718 20.24% Net Income 240 225 6.85%

Approval Rate (%) 83.94% 84.70% -0.90%

Disbursement 3,677 4,114 -10.64% NIM (%) 3.31% 3.43% -3.62% ROA (%) 4.21% 5.19% -18.81% ROE (%) 25.12% 30.10% -16.54% CER (%) 44.00% 45.80% -3.93% NPL (%) 1.46% 1.43% 2.37%

50

Supporting

Cash Management

•

16,853 Customers

•

22.2 Mn Trx in

2016

(2)

51

Bank Mandiri Remains on Track to B

e o e I do esia s Most

Admired Financial Institution

Retail Loans

(1)

•

Rp 185.3 Tn

•

33.1% of Loans

•

High yield loan

amounting Rp 125.5 Tn

Subsidiary Income

•

Total Rp 1.71 Tn

•

Sum of income from

11 subsidiaries

(14.3% of EAT)

Alliances

•

Bank Guarantee: Rp 22.8 Tn

•

ForEx: USD 19.1 Bn

•

Trade: USD 3.9 Bn

e-Channel Tx

•

2,020Mn Trx YTD

•

24.0% YoY Growth

# of Cards Issued

•

Credit

4.26 Mn

•

Debit 13.84 Mn

•

Prepaid 8.26 Mn

(1) Small Business, Micro and Consumers (2) Excluding Mandiri Transaction System

(3) Incl. KSM Centre, MMU Cash outlet and MobilMU

# of Accounts

•

Deposit 18.07 Mn

•

Loan 1.68 Mn

including mortgage

accounts of 155,059

# of new Accounts (YTD)

•

Deposit 3.34 Mn

•

Loan 486,641

# of Outlets

2,505 Branches

3,263 Micro Outlets

(3)

…But We Need to Co side G o i g Be o d the Ba k

•

Revenue YTD (Whole Group):

Rp47.8Tn (17% YoY)

•

Profit from Subsidiaries:

Rp1.71Tn (14.3% of EAT)

•

9M Revenue Wholesale vs

Retail : Rp 20.2Tn vs Rp 27.6Tn

Our Deal size has continued

to move higher

•

BSHB



Rp 40bn (2008)

•

MTF



Rp250 bn (2009)

•

Inhealth



Rp 1.3 tn (2013)

Bank

& Group

Finding Business

Partners

M & A

•

JV with AXA (AMFS). Gross Written

Premiums Rp1.5tn. +27% YoY

•

JV with Tunas Ridean (MTF). Total

Financing Rp4.1tn. 15% YoY

•

InHealth



partner BPJS

53

40,953

14,226

23,306

31,874

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

9M 2016 Operating Profit Increased By 16.4% from 9M 2015

on Higher NII

9M 2016

Notes :

1. Fee based income excluding gain on sale & increasing value GB & securities 2. Overhead expenses + others excluding provisions

9M 2015

Higher 16.4%

34,893

13,157

20,675

27,374

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

Committed to Improving Shareholder Value

Reduce Cost of Funds

Improve Assets Yield

Diversify into Fee Income

Reduce Provision/Loan

Improve Cost Efficiency



Leverage on cash generator

(wholesale) to accelerate growth



Diversity into fee income

Competitive.

sustainable

returns. with

above-average

rates of growth

Business Strategy

Strategic

Alliances

Support Strategy

94

As

set

and

Li

abi

lity

Mi

x Rel

ati

ve t

o

Peers

Bank Onl

y,

As

of June

2016

2.0% 3.1% 3.1% 3.6% 4.5% 4.9% 5.6% 5.7% 6.2% 6.4% BCA BNI Mandiri BRI Danamon CIMB Niaga Maybank Panin Permata BTN 81.9% 77.5% 75.4% 74.7% 74.0% 73.1% 72.7% 71.7% 70.3% 67.9% BTN CIMB Niaga Maybank BNI Panin Danamon BRI Permata Mandiri BCA 77.7% 65.2% 61.2% 56.9% 51.9% 48.9% 42.8% 40.8% 40.5% 39.5% BCA Mandiri BNI BRI CIMB Niaga BTN Danamon Permata Maybank Panin 872,970 858,896 612,971 504,632 233,540 189,513 181,240 177,421 151,386 145,084 BRI Mandiri BCA BNI CIMB Niaga BTN Permata Panin Maybank Danamon

Loans

to T

ot

al

E

arni

n

g

As

se

ts

(%)

C

os

t

of

Fun

d

s (

p

.a.)

(%

)

Tot

al

As

se

ts

(Rp

bn

)

Low

C

os

t

De

p

os

it R

a

ti

o

(%)

11.1% 10.4% 9.7% 9.7% 9.2% 9.0% 8.9% 8.7% 8.4% 8.3% BRI Danamon BTN Panin CIMB Niaga Maybank Permata BNI Mandiri BCA

Y

iel

d

on

As

se

ts

(p

.a.

)

(%

)

656,122 625,131 490,615 369,923 170,065 127,706 126,713 123,729 105,115 102,877 BRI Mandiri BCA BNI CIMB Niaga Panin Permata BTN Maybank Danamon

Tot

al

De

p

os

its

(Rp

tn

)

A ver ag e

95

Eff

ici

en

cy Measu

res

Rel

ati

ve to Peers

Bank Onl

y,

As

of June

2016

40.3% 41.2% 41.8% 44.2% 46.3% 46.4% 48.0% 51.6% 54.9% 62.2% Mandiri BCA BNI BRI Panin Danamon CIMB Niaga Permata Maybank BTN 361 209 187 172 116 100 95 53 44 -109 BCA BRI Mandiri BNI BTN Maybank Panin

CIMB …

Danamon Permata 19,141 16,555 16,414 15,285 14,529 13,768 12,798 11,802 11,386 BCA Mandiri Permata BNI Maybank BTN CIMB Niaga Panin BRI 16,615 15,450 15,102 14,784 14,485 13,971 12,769 11,287 10,251 2,943 BTN Permata BCA Maybank Mandiri BNI CIMB Niaga Panin BRI Danamon

P

rof

it/

Em

p

lo

yee

(Rp

Mn

)

C

os

t/

I

n

come

(%)

Loans/

Em

p

lo

yee

(Rp

Mn

)

Dep

os

its/

Em

p

lo

yee

(Rp

Mn

)

449 267 231 215 154 134 124 72 55 -144 BCA BRI Mandiri BNI BTN Maybank Panin CIMB Niaga Danamon Permata

P

re

Ta

x I

n

come

/Em

p

lo

yee

(Rp

Mn

)

3.1% 3.4% 4.3% 5.0% 5.0% 5.1% 5.5% 5.7% 6.3% 6.4% BTN Panin Maybank BCA Mandiri BNI CIMB Niaga BRI Danamon Permata

C

os

t/

As

se

ts

(%)*

_*An

n u a li ze d A ver ag e

96

Measur

es

of Scal

e and

Return

s Rel

ati

ve to Peers

Bank Onl

y,

As

of June

2016

25.2% 20.5% 16.2% 13.3% 12.6% 11.0% 10.3% 8.1% 5.0% -10.7% BRI BCA BTN Mandiri BNI Maybank Danamon Panin CIMB Niaga Permata 2,472 2,055 1,265 1,201 1,088 858 594 563 430 331 Mandiri BRI Danamon BCA BNI BTN CIMB Niaga Panin Maybank Permata 8.4% 7.3% 7.0% 6.1% 6.1% 5.4% 5.0% 4.7% 4.5% 3.9% BRI Danamon BCA BNI Mandiri CIMB Niaga Panin BTN Maybank Permata 57,623 37,760 33,465 25,632 24,202 13,288 10,821 8,987 7,720 7,235 BRI Mandiri Danamon BCA BNI CIMB Niaga Panin BTN Permata Maybank

B

ran

ch

es

R

e

tu

rn

on

E

q

u

ity

(Af

te

r

Ta

x)

(%)

Em

p

lo

yee

s

Ne

t

In

te

re

st

Mar

gi

n

s

(%)

3.9% 3.7% 2.5% 2.2% 2.2% 1.6% 1.5% 1.3% 0.8% -1.2% BCA BRI Danamon BNI Mandiri Panin BTN Maybank CIMB Niaga Permata

R

e

tu

rn

on

Ass

e

ts

(Be

for

e

T

a

x)

(%)

23,126 17,461 16,974 16,279 3,514 1,830 1,628 1,524 1,018 1,015 BRI Mandiri BCA BNI CIMB Niaga BTN Maybank Danamon Permata Panin

A

TMs

A ver ag e

Notes

………..

………..

………..

………..

………..

………..

………..

………..

………..

………..

The analysts listed above actively follow Bank Mandiri, but not all have issued research reports or formally initiated coverage.

Equity Research Contact Details

BROKERAGE ANALYST TELEPHONE E-MAIL

BAHANA SECURITIES Teguh Hartanto 62 21 250 5081 Teguh.Hartanto@bahana.co.id

BANK OF AMERICA-MERRILL LYNCH Anand Swaminathan 65 6678 0419 anand.swaminathan@baml.com

CIMB SECURITIES Jovent Giovanny 62 21 515 1330 ext. 262 jovent.muliadi@cimb.com

CITI INVESTMENT RESEARCH Salman Ali 62 21 2924 9219 Salman1.Ali@citi.com

CLSA LIMITED Sarina Lesmina 62 21 2554 8820 Sarina.Lesmina@clsa.com

CREDIT SUISSE Sanjay Jain 852 2101 6088 Sanjay.Jain@credit-suisse.com

DANAREKSA SEKURITAS Adriana Indrajatri 62 21 2955 5777 adriana.suwono@danareksa.com

DBS VICKERS SECURITIES Lim Sue Lin 603 2711 0971 Suelin@hwangdbsvickers.com.my

DEUTSCHE VERDHANA SECURITIES Raymond Kosasih 62 21 2964 4525 raymond.kosasih@db.com

GOLDMAN SACHS (ASIA) Ben Koo 65 6889 2483 ben.koo@gs.com

HSBC LTD Loo KarWeng 65 6239 0654 Karwengloo@hsbc.com.sg

INDO PREMIER SECURITIES Stephan Hasjim 62 21 5793 1168 Stephan.Hasjim@ipc.co.id

J.P. MORGAN ASIA Harsh Modi 65 6882 2450 Harsh.w.modi@jpmorgan.com

KIM ENG SECURITIES Rahmi Marina 62 21 2557 1188 Rahmi.Marina@maybank-ke.co.id

MACQUARIE CAPITAL SECURITIES INDONESIA Lyall Taylor 62 21 2598 8489 Lyall.taylor@macquarie.com

MORGAN STANLEY Mulya Chandra 62 21 3048 8125 Mulya.Chandra@morganstanley.com

SANFORD C. BERNSTEIN Kevin Kwek 65 6230 4650 Kevin.Kwek@bernstein.com

UBS Joshua Tanja 62 21 574 0111 Joshua.Tanja@ubs.com

PT Bank Mandiri (Persero) Tbk PLAZA MANDIRI

Jl. Jend. Gatot Subroto Kav. 36-38 Jakarta 12190, Indonesia

Tel: 62-21 526 5045

Fax: 62-21 527 4477, 527 5577 Call Center: 14000

www.bankmandiri.co.id

Contact Information: Investor Relations Tel: +62 21 524 5085 Fax: +62 21 5290 4249 E-mail: ir@bankmandiri.co.id http://ir.bankmandiri.co.id Corporate Secretary Tel: +62 21 524 5740 Fax:: +62 21 526 8246