Mandiri - Investor Relations - Corporate Presentations

PT Bank Mandiri (Persero) Tbk

9M 2015

Results Presentation

Share Information

∆ fro : IPO Dec 31, 2014

BMRI 1,093.52% -26.45%

JCI 705.03% -19.19%

No. of

Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.00% 14,000,000,000 60.00% 2. Retail 18,406 82.23% 252,231,989 1.08% 3. Employees 1,840 8.22% 23,394,118 0.10% 4. Cooperatives 7 0.03% 1,232,056 0.01% 5. Foundation 30 0.13% 18,829,845 0.08% 6. Pension Funds 193 0.86% 176,256,230 0.76% 7. Insurance 80 0.36% 442,316,436 1.90% 8. Banks - 0.00% - 0.00% 9. Corporations 145 0.65% 599,487,073 2.57% 10. Mutual Funds 214 0.96% 667,540,764 2.86%

Total 20,916 93.44% 16,181,288,511 69.35% II INTERNATIONAL

1. Retail 106 0.47% 1,294,249 0.01% 2. Institutional 1,362 6.08% 7,150,750,573 30.65%

Total 1,468 6.56% 7,152,044,822 30.65%

By 30 September 2015

22,384

100.00% 23,333,333,333 100.00% III TOTAL

No. Description

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

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-08

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-15

BMRI JCI

2

Table of Contents

Results Overview Page #



I do esia s E o o i Co ditio 3



9M 2015 Highlights 4



Key Indicators + Financial Highlights 5 –6



SBU Performance Highlights 7



Ba k s Pe fo a e 8 –11



Loan Performance 12 –14



ROE & NIM 15 –16



Fee-Based & CIR 17 –18



Wholesale Business 19 –21



Retail Business 22 –28



NPL Movement 29 –32



Subsidiaries 33 –35



Targets & Initiatives 36 Additional Information

Operating Performance Highlights Supporting Materials

Core inflation remains stable and

headline inflation expected to drop

Inflation And Current Account Deficit Appear Manageable

The Current Account Deficit is

improving through 3Q15

GDP expansion remains below the

historical average and under pressure

0 2 4 6 8 10 12 14 16 18 20 Se p -06 Se p -07 Se p -08 Se p -09 Se p -10 Se p -11 Se p -12 Se p -13 Se p -14 Se p -15

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

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

Capital and Financial Account Current Account (CA)

BoP 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

3Q09 1Q10 3

Q 10 1 Q 11 3 Q 11 1Q12 3 Q 12 1 Q 13 3 Q 13 1 Q 14 3 Q 14 1 Q 15 3 Q 15 4.67 7.50 6.83 5.07 5.87

Cash Management

•

14,676 Customers

•

45.4 Mn Tx YTD

2015

(2)

4

Bank Mandiri Remains on T

a k to e o e I do esia s Most

Admired Financial Institution

Retail Loans

(1)

•

Rp 167.4 Tn

•

33.3% of Loans

•

High yield loan

amounting Rp 109.5 Tn

Subsidiary Income

•

Total Rp 1.42 Tn

•

Sum of income from

10 subsidiaries

(9.8 % of EAT)

Alliances

•

Bank Guarantee: Rp 18.3 Tn

•

Foreign Exchange: Rp 12.8 Tn

•

Fund Under Management

(FUM): Rp 3.8 Tn

e-Channel Tx

•

1.6 Bn YTD

•

24.5% YoY Growth

# of Cards Issued

•

Credit

3.89 Mn

•

Debit 12.80 Mn

•

Prepaid 6.21 Mn

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

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

# of Accounts

•

Deposit 16.63 Mn

•

Loan 1.59 Mn

including mortgage

accounts of 163,649

# of new Accounts (YTD)

•

Deposit 3.14 Mn

•

Loan 462,826

# of Outlets

2,380 Branches

2,951 Micro Outlets

(3)

17,341 ATMs

5

K

e

y

Indi

ca

tor

s

R

emai

n

St

abl

e

22.10% 24.40% 22.00% 22.55% 22.23% 20.95% 17.89%

2009 2010 2011 2012 2013 2014 9M 2015

R

e

turn

on E

qu

ity

(%

)

Tot

al

CAS

A

(Rp

Bn

)

Non P

erf

ormi

ng

Loan

(%

)

186,492 201,958 256,395 316,127 359,957 380,512 415,908

2009 2010 2011 2012 2013 2014 9M 2015 2.79%

2.42% 2.21% 1.87% 1.90% 2.15% 2.81%

2009 2010 2011 2012 2013 2014 9M 2015

7,155 9,218 12,246 15,504 18,204 19,872 14,583

2009 2010 2011 2012 2013 2014 9M 2015

E

arni

ng

Aft

er T

a

x (

Rp

Bn

)

198,547 246,201 314,381 388,830 472,435 529,973 560,630

2009 2010 2011 2012 2013 2014 9M 2015

Tot

al

Loans

(

Rp

Bn

)

Ne

t

In

ter

es

t Mar

gi

n

(%

)

5.04% 5.28% 5.11% 5.46% 5.74% 5.97% 5.81%

2009 2010 2011 2012 2013 2014 9M 2015

6

Key Financial Highlights

Ba k Ma di i s

9M 2015 performance across several key indicators:

9M

9M



%

Loans

Rp 506.5 Tn

Rp 560.6 Tn

10.7%

Gross NPL Ratio

Net NPL Ratio

2.16%

0.82%

2.81%

1.07%

30.0%

30.6%

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

61.2%

Rp 361.8 Tn

63.5%

Rp 415.9 Tn

3.8%

15.0%

NIM*

5.90%

5.81%

(1.6%)

Efficiency Ratio

45.1%

43.1%

(4.5%)

Earnings After Tax

Rp 14,454 Bn

Rp 14,583 Bn

0.9%

Balanced Earnings from All Business Units

869 1,105

1,410

1,036

1,758

49

735

635

2,054 727

Treasury and Markets

Corporate Banking

Commercial Banking

Consumer Banking

Micro and Business

Banking

Asset Spread Liability Spread

Net Interest Income Analysis 3Q 2015

(Rp Bn)

Net Interest Income

Fee Based Income 3Q 2015

(Rp Bn)

370

1,317 277

358

839

Micro and Business Banking Consumer Banking Commercial Banking Corporate Banking Treasury and

Markets

918

3,090

1,840

1,845

97 .1 102 .9 108 .8 121 .9 119 .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 9.910.811.6 11.612.312.712.2 12.013.413.614.0 15.315.816.819.0 20.7 22.123.222.3 24.7 23.325.429.4 47 .8 50 .3 39 .9 46

.2 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 22.023.122.9 22.225.422.324.0 25.328.228.028.5 36.1 33.3 38.549.2 51.1 43.545.0 52.0 49.1 58.1 75.877.6 124. 4 127. 8 127 .0 147 .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 11.811.711.1 12.510.312.415.3 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 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 1Q '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 4Q '12 1 Q' 13 2 Q' 13 3 Q' 13 4Q '13 1Q '14 2 Q' 14 3 Q' 14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15

FX Time Rp Time

FX Demand Rp Demand FX Savings Rp Savings

74 .5 80 .7 84 .2 85 .4 85 .1 96 .2 103 .2 106 .2 113 .0

119.2 123.2 126

.3 124 .7 146 .9 155 .2 163 .7 160 .8 161 .3 171.9 173 .3 170 .7 176 .8 180 .9

0.2 0.41.3 1.4 1.6

1.5 1.71.4 1.3

1.5 1.6 1.8 1.6

1.51.72.0 2.3 1.3

1.3 1.3 0.8 1.00.9

49 .1 53 .1 57 .5 63 .8

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 .7 138 .9 145.1 148 .9 149 .4 24.726.7 28.630.732.4 34.336.3 39.040.7 43.344.5 47.749.3 52.4 55.2 56.6 57.4 60.3 62.4 64.765.767.7 69.5 17.719.3 20.522.723.3 25.8 27.630.2 30.9 33.135.0 38.438.4 42.5 43.7 46.5 46.3 49.0 52.0 57.255.357.9 57.9 5.6 6.0

6.57.3 7.7

8.5 9.511.8 13.1 15.116.8 19.0 20.7 23.9 24.927.0 28.231.0 32.736.0 37.239.7 40.0 9.7 9.1 8.6 7.8 6.7 6.1 6.14.6 4.8 4.84.9 4.0 3.9 3.9 4.2

4.2 3.93.9

3.8 3.7 3.8 3.8 4.1 20.4 22.724.6 27.230.3 34.2 38.4 40.540.9 43.646.0 48.9 50.9 53.5 54.9 55.555.355.5 54.6 54.7 54.357.0 57.9 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 1 Q' 10 2 Q' 10 3 Q' 10 4Q '10 1Q '11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1Q '13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4Q '14 1Q '15 2 Q' 15 3 Q' 15 Subsidiaries Recovery

Micro Small

Cons Comm

Int'l Corp

Maintaining Momentum for Growth

Y-o-Y  (3.4%) 5.2% 49.3% 14.1% 4.9% Y-o-Y  9.8% 11.4%

Loans by SBU + Subsidiaries

(Rp Tn)

17.0%

5.2%

Deposits by Product

–

Consolidated

(Rp Tn)

*Loans from Treasury & International have been reallocated to Corporate following the reorganization in early 2010

(25.7%)* 32.2% 10.7% 560.6 Tn Total Total 590.9 Tn

654.6 Tn 10.8%

5.9%

8

506.5 Tn

11.3% 22.3%

3 Key Areas of Focus for 2020

Deepen Client

Relationship

Accelerate Growth

_Segment

Wholesale Strategy

Group-wide Strategy

Retail Strategy

Integrate The Group

Integrated Wholesale Transaction Bank

Holistic Product Suite

Sector-Led Solutions

Through Expertise-led Client Solutions

Cross-Border Coverage Supporting Clients’ Regional Needs

Current Achievments ( 9M 2015)

 Total Wholesales Fees Rp 1.9 Tn1)  Total Wholesale Low Cost Deposits

Rp 141.5 Tn.

 Growth of Cash Management Transaction

37.7%2).

Culture of Cross-Selling across Wholesale, Retail and Subsidiaries

Engaging in Integrated Retail Initiatives with Subsidiaries and Business Units to

Drive Cross-Selling

Current Achievments (9M 2015)

Micro

Easy Access & Simple Products

SME

One-Stop Sales & Service

Individual

Growing with our Customers

Current Achievements (9M 2015)

 Total Retail Fees of Rp 5.1 Tn 1)

 Total Retail Low-Cost Funds Rp 245.1 Tn

 YoY increase in E-Channel transaction : 24.5%

 Mandiri Business Savingreaches Rp 96.9 Tn

V

V

V

V

V

 Volume of Business Alliances :

Bank Guarantee : Rp 18.3Tn. Foreign Exchange : Rp 12.8Tn. FUM : Rp 3.8 Tn

 Income Alliance Wholesale = 52.2%

 Auto & 2 W Loan : 388 Bn  # Credit Cards : 316,649

Strong and Liquid Balance Sheet

10

Assets

3Q 2015

3Q 2014

Liabilities

3Q 2015

3Q 2014

Cash

19,062

15,727 Current Account

168,387

131,547

Current Acc w/ BI & Other Banks

71,415

56,968 Savings

247,521

230,219

Placement w/ BI & Other banks

57,207

60,395 Time Deposits

238,688

229,124

Advances (Other)

40,851

23,380

Marketable Securities

45,922

36,742

Total Deposits

654,595

590,890

Government Bonds

101,079

87,640

Loans (Gross)

560,630

506,456 Securities Issued

1,805

2,014

Provisions of Loans

(21,450)

(17,297) Deposits from other banks

39,640

28,471

Net Loans

539,180

489,159 Borrowings

20,173

15,547

Reverse Repo

1,849

2,911 Other Int. Bearing Liabilities

29,577

12,085

Other Provisions

(2,531)

(2,046) Non Int. Bearing Liabilities

46,832

50,120

Deferred Tax Assets

3,986

3,344 Equity incl. Minority Interest

113,137

99,034

Other Assets

27,739

23,941

Strong Revenue Growth

Summary P&L (Rp Bn) 3Q 2015 2Q 2015 3Q 2014 9M 2015 9M 2014 9M Y-o-Y

(%)

Y-o-Y (%)

Q-o-Q (%)

Interest Income 18,066 17,454 15,984 52,637 45,275 16.3% 13.0% 3.5%

Interest Expense 6,814 6,518 6,303 20,185 16,970 18.9% 8.1% 4.5%

Net Interest Income 11,252 10,936 9,681 32,452 28,306 14.6% 16.2% 2.9%

Net Premium Income 886 875 724 2,441 1,984 23.0% 22.3% 1.2%

Net Interest Income & Premium Income 12,138 11,811 10,405 34,893 30,289 15.2% 16.6% 2.8%

Other Non Interest Income

* Other Fees and Commissions 2,546 2,677 2,255 7,572 6,598 14.8% 12.9% (4.9%)

* Foreign Exchange Gains - Net 533 473 404 1,394 1,188 17.4% 32.1% 12.7%

* Gain fr. sale & Incr. in Val & Sale of Bonds (134) (17) 71 80 270 (70.5%) N/A N/A

* Others 2,182 1,018 889 4,111 2,836 44.9% 145.5% 114.3%

Total Non Interest Income 5,127 4,152 3,620 13,157 10,892 20.8% 41.7% 23.5%

Total Operating Income 17,265 15,963 14,025 48,050 41,182 16.7% 23.1% 8.2%

Provisions, Net (4,495) (2,446) (909) (8,491) (3,750) 126.4% 394.4% 83.7%

Personnel Expenses (2,903) (3,109) (2,752) (8,933) (8,041) 11.1% 5.5% (6.6%)

G&A Expenses (3,322) (3,173) (2,958) (9,070) (7,961) 13.9% 12.3% 4.7%

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

-Other Expenses (744) (941) (986) (2,673) (2,458) 8.7% (24.5%) (20.9%)

Total Expense (6,970) (7,223) (6,697) (20,675) (18,460) 12.0% 4.1% (3.5%)

Profit from Operations 5,800 6,293 6,419 18,884 18,971 (0.5%) (9.6%) (7.8%)

Non Operating Income 5 (0) 15 7 20 (65.0%) (67.2%)

-Net Income Before Tax 5,805 6,293 6,434 18,891 18,992 (0.5%) (9.8%) (7.7%)

LDR Increased to 85.3%, Bank-Only Loan Growth of 11.3%

78 .8 79.7 82 .0 82 .7 82 .9 88 .7 92 .8 93 .6 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 .8 178 .2 175 .1 181 .4 185 .8 42 .6 43 .6 45 .3

50.6 50.4 54

.2 5 8 .6 64 .7 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. 9 139 .1 145 .2 149 .1 149 .5

14.415.816.617.418.0

19.720.7 22.824.5 25.927.7 30.330.9 33.235.138.5 38.542.5 44.1 46.5 46.349.0

52.057.355.3

57.9 57.9 4.64.85.15.4 5.66.0 6.57.37.7 8.59.5 11.813.1 15.116.8 19.020.7 23.9 24.9 27.0 28.231.0 32.7 36.0 37.2 39.740.0 19.720.621.7 23.624.826.7 28.630.732.4 34.3 36.339.0 40.7 43.344.5 47.749.3 52.4 55.2 56.6 57.4 60.3 62.4 64.765.767.7 69.5 1 Q' 09 2 Q' 09 3 Q' 09 4 Q' 09 1 Q' 10 2 Q' 10 3 Q' 10

4Q'10 1Q'11 2_Q'

11

3Q'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

4Q'14 1Q'15 2_Q'

15

3Q'15

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y  11.3% 22.3% 11.3% 16.9% 5.1% 11.3% Total 13.8% 8.0% 11.5% 29.7% 37.0% Break down

As of September 2015; Non-consolidated numbers

12

175 .2 181 .6 188 .3 198 .5 201 .9 218 .0 231 .9 246 .2 251.8 276 .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 63.2% 62.2% 62.8% 61.4% 64.1% 66.3% 71.7% 67.6% 70.2% 75.9% 78.7% 74.1% 80.7% 83.4% 84.4% 83.5%85.0% 87.3%84.5% 88.0% 87.0% 82.9% 84.4% 84.1% 85.3% 1 Q '09 2 Q '09 3 Q '09 4 Q '09 1Q '10 2 Q '10 3Q '10 4Q '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 1Q '14 2 Q' 14 3Q '14 4Q '14 1 Q' 15 2 Q' 15 3 Q' 15

Loans (Rp Tn) LDR (%)

1.4% 3.7%3.7% 5.5% 1.7%7.9%6.4% 6.2% 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% 30.5% 21.4% 15.7% 13.8% 15.3% 20.0% 23.2% 24.0% 24.7% 26.9% 28.3% 27.7% 30.0% 26.6% 22.8% 23.7% 19.7% 22.3% 23.4% 21.5% 13.3% 12.4% 12.2% 13.3% 13.8% 10.7% 1Q '09 2 Q '09 3 Q '09 4 Q '09 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 2Q '12 3 Q' 12 4Q '12 1Q '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

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

34 .56 35 .24 37 .83 36 .49 35 .64 3 1 .15 29 .19 2 9 .75 3 0 .62 33 .96 35 .68 38 .86 38 .60 41 .87 44 .44 40 .35 41 .88 45 .47 45 .73 49 .62 48 .17 5 3 .29 59 .79 6 7 .75 62 .22 62 .95 72 .24 75 .38 73 .52 76 .90 78 .52 104.5% 95.9% 111.0% 80.5% 78.3% 68.5% 61.9% 68.2% 71.7% 76.3% 80.7% 86.6% 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% 50% 60% 70% 80% 90% 100% 110% 120% M ar 08 Jun e 08 Se p 08 D e c 08 M ar 09 Jun e 09 S e p 09 D e c 09 M ar 10 Jun e 10 S e p 10 D e c 10 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 S e 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 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)

3

Q

15 (Total USD 5.360 Bn)

0.01 0.04 0.07 0.29 0.34 0.43 0.54 0.58 0.71 0.85 1.51

Soc Serv

Utilities

Constr

Agri

Trans

Trading

Bus Serv

Mining

Oth

Oil & Gas

Mfg



% (YoY)

9% -37% 14% 0% 53% -27% -5% -26% -33% -81% 151%

14

Rp 73.01 Tn in Loans Disbursed in 3Q 2015

495.77

73.01

30.82

33.54 _7.45

7.55

1.72

502.78

2Q'15 Disburs. Install. Payment Pay-off FX

Impact

Write-Offs

3Q '15

Loan Movement

–

3Q 2015 Bank-Only

Rp Tn

Loan Disbursement by Segment

–

3Q 2015 Bank-Only

Rp Tn

39.31

17.31

6.31

5.48

4.60

73.01

42

.6

58

.1

72

.5 ₉₁

.9

108

.9

115

.9

112

.2

134

.0

172

.9

195.8

242.4

352

.5

400.2

491

.3

514

.9

578

.4

13

.3

15

.4

17

.0

25

.5

27

.5

27

.4

28

.4

28

.3

27

.2

30.5 35.7 53

.3

62.0 73

.9

85

.7

103

.0

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

RWA (Rp Tn) Total Capital (Rp Tn)

308 1,168 1,549 1,744

519 510 1,027 1,390 1,400 2,003

2,681 3,403 4,303

4,925 5,138

1,300

602 690 1,329

97 305

1,113 1,221 1,526 2,031

2,543 3,744 3,991

4,660 4,786

967 1,017

1,528 1,408

610 372

1,040 1,345

1,693 2,352

2,850 3,972

4,509

4,869 4,658

645 799 819

775

-623 1,234

1,166 1,390

2,536 2,833

3,073 4,385

5,401 5,418

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Q4 PAT Q3 PAT Q2 PAT Q1 PAT Rp Bn

17.9% ROE, Supported by a Strong Capital Position

Bank Only - Capital & RWA Movement

Profit After Tax & ROE

21.5% 26.2%

23.6% 22.8%

2.5%

10.0% 15.8%

18.1% 22.1%

24.2% 22.0%

22.6%

22.2% 21.0%

17.9% RoE - AT

• 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}

1,099*

31.3%

26.4%

23.4% 27.7%

25.3%

23.2%

24.6%

20.8%

15.7% _15.4%

13.4% 15.3%

15.5% 14.9% 16.6%

17.8%

16

Q3 NIM of 5.7% as Yield on Assets Relatively Flat

4 .3 % 3.6% 4 .9 % 4 .7 % 5 .4 % 5 .3 %

5.1% 5.2% 6

.0 % 5 .8 % 5 .1 % 5 .4 % 5 .2 % 5 .4 % 5 .2 % 5 .5 % 5 .8 % 5.7% 5 .5 % 5 .3 % 5 .7 % 6 .1 %

5.9% 5.9% 5

.8 % 5 .9 % 5 .4 % 5 .8 % 5 .7 % 4 Q '04 4 Q '05 4 Q '06 4 Q '07 4Q '08 4 Q '09 1 Q '10 2 Q '10 3 Q '10 4Q '10 1Q '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 3Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 3 Q' 14 4Q'14 * 1Q'15 2 Q' 15 3 Q' 15 NIM 8.9% 10.7% 11.0% 9.0% 10.5% 9.4% 8.9% 9.1% 9.8% 9.6% 8.7% 9.0% 8.7% 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% 4.8% 7.3% 6.4% 4.5% 5.3% 4.3% 4.0% 4.0% 3.9% 3.8% 3.8% 3.8% 3.7% 3.4% 3.2% 2.8% 2.7% 2.7% 2.8% 2.6% 2.8% 3.1% 3.5% 3.9% 3.8% 3.9% 3.6% 3.7%

Yield on Assets Cost of Funds

6.75% 6.41% 5.15% 5.23% 4.95% 7.24% 5.13% 4.90% 4.69% 5.33% 4.80% 5.4% 5.04% 4.90% 4.84% 4.50% 4.53% 5.13% 4.40% 4.51% 4.47% 6.61% 4.22% 4.33% 4.38% 3.03% 1.47% 0.83% 0.71% 0.75% 0.70%

0.48%0.30%0.51%

0.63% 0.60% 0.6% 0.72% 0.73% 0.74% 0.59% 0.64% 0.67% 0.81% 0.73% 0.74% 0.87%1.06% 0.79% 0.72% 0% 5% 4Q '08 4 Q '09 1 Q '10 2 Q '10 3 Q '10 4 Q' 10 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11

1Q'12 2_Q'

12 3 Q' 12 4 Q' 12 1 Q' 13

2Q'13 3Q'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 13.16% 12.19% 13.09% 12.70% 12.50% 11.75% 12.05% 11.89% 12.49% 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% 10.26% 6.73% 6.84% 6.24% 7.32%

6.55%6.46%5.94%

4.85%

3.9% 4.0%

3.39%3.85%

4.71%5.28%5.85%5.7%

6.0% 6.4%

6.4% 6.7% 5.8%

4.7% 4.4%4.3%4.2%4.1%4.3%

4.2% 3.9%

3.7% 3.0% 3.1%3.0% 3.7%

3.9%4.6%4.4%4.5%

4.3% 4.3% 0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

Greater Detail On Fee-Based Income

Non-Loan Related Fees & Commissions

3Q-2015

2Q-2015

3Q-2014

Y-o-Y

Q-o-Q

Δ%

Δ%

Administration Fees

805

799

696

15.7%

0.8%

Opening L/C, BG & Cap Market (custodian & trustee)

272

278

225

20.8%

(2.1%)

Subsidiaries

292

371

387 (24.4%)

(21.3%)

Transfer, Retail Transaction

480

471

368

30.4%

2.0%

Credit Cards

386

401

374

3.0%

(3.8%)

Mutual Fund, ORI & Bancassurance

85

101

86

(0.4%)

(15.4%)

Syndications

34

93

33

n.a

n.a

Payroll Package

21

19

21

1.8%

11.8%

Others

171

146

66 158.2%

17.4%

Total

2,546

2,677

2,255

12.9%

(4.9%)

Foreign Exchange Gains

533

473

404

31.9%

12.7%

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

(134)

(17)

71

n.a

n.a

Cash Recoveries

731

614

549

33.0%

19.0%

Other Income

1,451

404

340

327.3%

259.0%

Total Fee Based Income (As Reported)

5,127

4,152

3,620

41.6%

23.5%

18

827 1,004 1,110 1,384 1,051 1,265 ,459 1 1,682 1,524 1,510 1,883 2,107 1,614 ,004 2 2,071 2,565 2,034 2,322 2,375 3,167 ,309 2 2,693 2,958 3,488 2,574 3,173 3,322

1

,116

1

,390 1,019

1

,328

1,306 1,375

1

,485

1

,612 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

1

Q'

09

2

Q'

09

3

Q'

09

4

Q'

09

1Q'10 2_Q'

10

3

Q'

10

4

Q'

10

1

Q'

11

2Q'11 3_Q'

11

4

Q'

11

1

Q'

12

2Q'12 3_Q'

12

4

Q'

12

1

Q'

13

2

Q'

13

3

Q'

13

4

Q'

13

1Q'14 2_Q'

14

3

Q'

14

4

Q'

14

1

Q'

15

2Q'

15

3

Q'

15

G&A Expenses Personnel Expenses

3Q Cost to Income Ratio of 40.06 %

Breakdown of 3Q 2015 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

(Rp Bn) (Rp Bn)

35.1% 42.8%

39.3% 43.2%

39.0% 38.4%38.1%

45.1%

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%

45.2%

40.1%

CIR (%)

3Q 2015

3Q 2014

9M 2015

9M 2014

Growth

QoQ

9M

YoY YoY

Personnel Expenses

Base Salary 795 680 2,350 2,050 (0.1%) 14.7% 16.9% Other Allowances 1,434 1,351 4,322 3,890 (3.4%) 11.1% 6.1% Post Empl. Benefits 100 65 284 226 7.4% 25.5% 54.0%

Training 99 99 198 243 52.7% (18.5%) 0.0%

Subsidiaries 476 557 1,779 1,633 (29.1%) 9.0% (14.6%)

Total Personnel Expenses 2,903 2,752 8,933 8,041 (6.6%) 11.1% 5.5% G&A Expenses

IT & telecoms 489 369 1,332 1,064 8.4% 25.2% 32.6% Occupancy Related 696 604 1,921 1,624 6.0% 18.3% 15.4% Promo & Sponsor 300 322 723 743 16.0% (2.8%) (6.9%) Transport & Travel 157 155 450 447 (8.4%) 0.8% 1.1% Goods, Prof. Svcs. & Oth. 458 422 1,083 1,083 33.1% (0.0%) 8.7% Employee Related 512 480 1,497 1,320 (4.5%) 13.4% 6.8% Subsidiaries 710 608 2,064 1,680 (5.9%) 22.9% 16.8%

Total G&A Expenses 3,322 2,958 9,070 7,961 4.7% 13.9% 12.3% Other Expenses 744 986 2,673 2,458 (20.9%) 8.7% (24.5%) Total Operating Expenses 6,970 6,697 20,675 18,460 (3.5%) 12.0% 4.1%

Top 10 Segments in Corporate Lending Expansion

3Q

5

–

3Q

4 (Total Rp9.08 Tn)

Rp Bn

491 557 766

987 1,051 1,154 1,671 2,780 2,817 8,654

Trad-H&R Constr Mining-Coal Trad-Exp Mining-Metal Ore Mfg-Chem Plantations Mfg-F&B Mfg-RawM Bus Serv

%

49.3%

249.5%

16.0%

5.0%

10.3%

29.6%

124.8%

56.0%

5.1%

65.3%

Rp Bn

Top 10 Segments in Commercial Lending Expansion

3Q 15

–

3Q 14 (Total Rp21.60 Tn)

1,124 1,274 1,275 1,368 1,485 1,527 1,669 2,180 2,622 2,697 2,910

Mfg-F&B Mining-Coal Mining-Oil & Gas Bus Serv Mfg-Oth Trad-Imp Mfg-Text Mfg-RawM Mfg-Chem Plantations Trad-Distr

%

13.5%

12.5%

12.1%

10.1%

7.7%

7.1%

6.9% 6.3%

5.9%

5.9%

5.2%

13.5%

Whol

esal

e

Transacti

ons

Dri

vi

n

g

CASA

20

Whol

esal

e CAS

A

Deposi

ts

58,055 62,257 61,691 53,604 74,116 89,959 74,334 73,192 80,868 141,540

(10

,000

)

10,000

30,000

50,

000

70,000

90,000

110,

000

130

,000

150

,000

2007 2008 2009 2010 2011 2012 2013 2014 3Q14 3Q15

To

tal

CAS

A

(Rp

B

n

) 75

.0

%

Yo

Y

Gr

o

w

th

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

2006 2007 2008 2009 2010 2011 2012 2013 3Q14 4Q14 1Q15 2Q15 3Q15

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

4Q10 4Q11 4Q12 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15

A

ver

age

#

of

Ca

sh

Ma

na

g

em

en

t

Tx

(000

),

t

ot

al

15

.8

Mn

tr

an

sact

ion

s

in

3

Q

2015

*)

*)

E

xc

lud

ing

M

an

di

ri

T

ran

sa

ct

io

n

S

yst

e

Growing Volume in Wholesale Transaction Business

Forex

34 42 63 61 56 44 30

281,153310,512

322,795399,500 379,730

250,183 263,681

-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

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

Value (USD Bn) # of Trx

Wholesale Remittance

70 94 121 135 146 108 98

435,866

448,219

599,909 651,241

739,046

547,317 579,147

-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

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

Value (USD Mn) # of Trx

Mandiri Cash Management*

549 818 1,5

1

9

2

,231

3

,120

2

,196

3

,023

2,503 7,668

13,676 24,543

44,184

30,732

45,446

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

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

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

Value (Rp Tn) # of Trx (000)

Trade Transactions : Export, Import, Domestic

85 110 125 133 137 101 97

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

368,177

349,567

-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 Sep 14 Sep 15 Value (USD Bn) # of Trx

Retail Deposits Decreased by 1.8% Y-o-Y

22

74 .6 78 .8 74 .4 80 .4 75 .9 81 .3 86 .3 95 .5 88.2 93 .4 98 .5 109.6 107 .3 112 .7 120 .4 134.0 132 .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

5.1 6.2 5.16.1 6.8 6.9

7.48.19.310.211.0

11.011.711.911.5 11.312.712.8 13.0 13.7 14.715.6 18.4 20.7 21.022.021.8 24.0 22.223.224.3

4.45.1 5.3 6.8 5.66.1

8.09.48.28.8

9.111.110.511.9 12.2 15.714.615.4 16.1 18.6 17.016.7 28.6 33.0 29.7 33.634.4 40.2 33.536.425.0 1.41.4

1.81.72.32.5

2.4

2.7 2.72.73.3

3.2 3.53.5

4.1 4.2 4.34.3 10.7 11.4 12.1 11.913.1 13.0

12.814.4_7.8

44.442.050.6 63.462.965.1 68.768.571.870.6 68.7 70.569.068.6 70.8 73.171.670.3 71.5 71.4 72.170.7 80.2 84.5 88.4 100.1 108.3 120.0 119.2116.0 110.0

5.0 5.1 5.4

7.7 7.47.4

7.56.8 6.0 5.7

5.85.8 5.3 5.2

5.2

5.3 5.05.0

5.1 5.0 4.74.6 6.4 7.0 6.3 7.0 7.2 9.5 9.0 7.8 7.7 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 '08 2 Q '08 3Q '08 4 Q '08 1 Q '09 2 Q '09 3 Q '09 4 Q '09 1 Q '10 2 Q '10 3 Q '10 4Q '10 1 Q' 11 2 Q' 11 3Q '11 4 Q' 11 1 Q' 12 2 Q' 12 3Q '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 4Q '14 1 Q' 15 2 Q' 15 3Q '15

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail Deposit Analysis

–

Bank Only

2.5% 2.8% 4.2%

3.4% 3.3%

3.1% 2.5%_2.3%2.4%2.8%

2.0% 2.2% 2.0%

2.0%2.1%1.9% 2.1%_2.1%

3.2%

3.0% 3.3%

2.5% 2.6%

2.1% 2.2%2.4%1.8%

1.5% 1.6% 1.5% 1.6% 1.5% 1.5%1.6%1.5%1.4% 1.3% 1.2% 1.2% 6.8% 6.3% 9.3% 9.5% 8.7% 7.2% 6.5% 6.9% 6.3% 6.5% 6.5% 5.7% 5.0% 4.9% 5.1% 4.9% 5.0% 5.5% 6.6%7.0% 7.3% 8.3% 7.9% 7.8% 7.4% 7.5% 0% 5% 10% 15% Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

2.4%

1.6%1.8%

0.9%

0.9% _{0.1% 0.1%} 0.1%0.3%0.3%0.2%

0.2% 0.3%

0.3%0.3%0.3%0.3% 0.3%_0.3%0.4%

2.6% 2.9% 2.8%

3.7%3.9%

3.0% 1.9%

0.3% 0.5% 0.4%

0.8% 0.7% 0.7% 0.5% 0.6% 0.8% 1.2% 1.2% 1.1% 1.3% 1.8% 1.2% 0.8% 0% 2% 4% 1 Q '08 2 Q '08 3 Q '08 4Q '08 1 Q '09 2 Q '09 3Q '09 4 Q '09 1 Q '10 2 Q '10 3Q '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 4Q '12 1 Q' 13 2 Q' 13 3Q '13 4 Q' 13 1 Q' 14 2 Q' 14 3Q '14 4 Q' 14 1 Q' 15 2 Q' 15 3 Q' 15

FX DD FX TD 63.5% 62.3% 61.4% 60.4% 62.5%64.7% 63.4% 63.8% 66.1% 63.3% 63.8% 64.9% 66.1% 66.5%69.6% 70.1% 72.5% 71.6% 72.9% 71.9% 69.9% 68.8% 68.4% 66.2% 67.7% 65.1% CASA as % of total deposits

60

,676

63

,323

66

,851

7

3

,3

2

4

81

,046

84

,675

91

,504

9

6

,2

6

8

105

,192

108

,434

1

1

8

,7

8

8

123

,833

130

,158

131

,857

140

,189

146

,744

157

,974

158

,173

165

,304

1

6

7

,4

2

9

27.7% 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% 33.2% 33.1% 33.3% 33.3% 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 4 Q 2010 1 Q 2011 2 Q 2011 3 Q 2011 4Q 20 11 1 Q 2012 2 Q 2012 3 Q 2012 4Q 20 12 1 Q 2013 2 Q 2013 3Q 20 13 4 Q 2013 1 Q 2014 2 Q 2014 3 Q 2014 4 Q 2014 1 Q 2015 2 Q 2015 3 Q 2015

Retail to Total Loans

Building our High Yield Business in Retail Lending

Retail to Total Loans

Micro Credit Business Banking Consumer Finance (Rp Bn) 62,443 69,528 7,085 YoY 11.3% Consumer Finance (Rp Bn) Business Banking 51,999 57,905 5,906

3Q2014 Growth 3Q2015

YoY 11.4% (Rp Bn) Micro Credit 32,706 39,996 7,290

3Q2014 Growth 3Q2015

YoY 22.3%

Strong

Mi

crofi

n

ance

Grow

th

24

200 300 502 687 898 897 903 934

600 800 800 878 928 1,027 1,127 1,128 1,209 1,326

10 152 480 710 760 751 706 703 714 685

3

5

6

2008 2009 2010 2011 2012 2013 2014 1Q '15 2Q '15 3Q '15

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

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

271

430

562

694

815

889

1

,009

1

,046

1

,079

1,0

88

2008 2009 2010 2011 2012 2013 2014 1Q '15 2Q '15 3Q '15

…as ell as Co su e Le di g, hi h ‘ose

11.35%

Y-o-Y as Auto Lending Remains Strong

13 ,500 14 ,268 15 ,523 16 ,466 17 ,779 18 ,764 2 0 ,1 1 3 20 ,919 2 2 ,8 1 8 24 ,092 26 ,135 27 ,357 26 ,995 2 6 ,6 9 0 26 ,505 26 ,347 26 ,495 26 ,207 26 ,340 26 ,369 3

,957 3,964

3 ,9 7 9 3 ,949 3 ,8 8 7 3 ,777 3

,679 3,571

3 ,471 3 ,3 6 5 3 ,312 3

,240 3_,181 3_,172 3

,198 3,240 3,310 3,326 3,4

3 2 3 ,534 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 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

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 ,641 447 698 791

873 928

964

1,016 1,037 1,010

966

927 904

809 840 805

765

750 683

733 892

0 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 27,500 30,000 32,500 35,000 37,500 40,000 42,500 45,000 47,500 50,000 52,500 55,000 57,500 60,000 62,500 65,000 67,500 70,000 72,500 75,000 4 Q '10 1 Q '1 1 2 Q '11 3 Q '11 4 Q '11 1 Q '12 2 Q '1 2 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 '1 4 4 Q '14 1 Q '1 5 2 Q '15 3 Q '15 Other Auto

Credit Cards Payroll Loans Home Equity Loans Mortgages

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

18.84%

6.43%

Auto Loans*

25.40%

6.47%

Credit Cards

14.74%

-0.77%

Payroll Loans

26.74%

5.41%

Home Equity Loans

9.07%

2.96%

Mortgages

0.08%

0.11%

Total Consumer

11.35%

2.66%

Quarterly Consumer Lending Balances by Type

Consumer Lending Growth by Type

Rp 69.5 Tn

*Auto & Motorcycle Loans channeled or executed through finance companies = Rp 9.2 Tn in our Commercial Portfolio

Enhanced Transaction Capabilities

26

Quarterly Transaction Value (Rp Tn)

Quarterly Users (Mn)

* Inactive cards have been purged 95.5 122.2 147.7 153.8 170.0 179.3 191.2 192.6 208.1 210.0 241.5

2.1 3.5 4.1 5.0

6.6 8.3 10.5

17.6 28.3 35.7

38.9

7.1

14.0 18.1

23.5 26.8

29.4 33.3 33.3 34.5 46.7 32.6 0 20 40 60 80 100 120 140 160 180 200 220 240 4 Q '09 4 Q '10 1 Q '11 2 Q '11 3 Q '11 4 Q '11 1Q '12 2 Q '12 3 Q '12 4 Q '12 1 Q '13 2Q '13 3 Q '13 4Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 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

3.2 4.7 4.9

5.3 5.6 5.8

6.1 6.3

6.5 6.7 6.8

1.2

1.0 1.1 1.2 1.3

1.4 1.5 1.6 1.7 1.8 1.9 0 2 4 6 8 10 12 14 4 Q '09 4 Q '10 1 Q '11 2 Q '11 3Q '11 4 Q '11 1 Q '12 2 Q '12 3 Q '12 4Q '12 1 Q '13 2Q '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 3Q '15 Debit Cards Mobile Banking Internet Banking

Quarterly Transaction Volume (Mn)

142 157

184 189

212 218

233 235

246 249 293

39

36 44

41 43 _{41 39} 44

51

47 48

12 18

23 26 32 31 34 57 70 113 172 17 42 55 78 85 67 76

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

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

270,352 282,442

288,509 294,437

2007 2008 2009 2010 2011 2012 2013 2014 Q

1

2015

Q

2

2015

Q3

2015

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

65.5 98.5 166.6

196.5 285.7

318.6 382.0 490.3

663.4

81.9 110.5

194.5 249.3

313.9 361.8

437.5 489.2

668.2

89.0 117.8

223.7 268.5

312.8 464.4

512.9 664.8

2007 2008 2009 2010 2011 2012 2013 2014 2015

Q4 Q3 Q2 Q1 38.8% _YoY Growth

3.5 4.8 8.0 17.7

34.7 59.4

85.8 102.3

87.8 96.9

2007 2008 2009 2010 2011 2012 2013 2014 3_Q

2014

3

Q

2015

10.3% YoY Growth

Making Inroads into SME and Retail Payments

28

Fiesta Point Program

A program to get points based on savings average balance and #of transactions through e-channel or branch, so that the 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 to the national lucky draw.

Belanja Hoki/ Dagang Hoki Program

Co-promotion with the ITC Group for the merchant and the buyers who transact in ITC by 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

9,235 10,601

11,385 12,616

12,773 14,068

14,508 16,052

15,996 17,444

17,101

-3,000 6,000 9,000 12,000 15,000 18,000

-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

3Q

'1

5

# of Volume # of Transactions (000)

# MIB Transaction Value & Users

18

,528

25,857 32,273 42,582 47

,304

53

,124

57

,447

73

,666

79

,970

88

,013

79

,173

11,535 13,542

15,312 15,971 17,802 18,216 22,570

24,676 26,441 28,122 27,591

1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15 2Q '15 3Q '15

Transaction Value (Rp Bn) # of Active Users

# SME Business w/ Mandiri Acc

543,972

643,334

789,300 807,496 827,261 839,345

29

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 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 .7 % 4 .3 % 5 .1 % 5 .3 % 5 .1 % 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 ,00 0 30 ,00 0 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 S pe c ial Me nti on S pe c ial Me nti on Rati o

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% .0 % .5 % 138 .9 % 127 .1 % 116 .6 % 136 .1 % 155 .2 % 206 .0 % 191 .7 % 19 2.4 % 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 % 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 Gro ss N PL Rat io Pr o v/N PL

Gross

N

PLs

2.8

1%,

Coverage

at 136.

2%

-Category 2 at

5.

09

%

Ca

tegory

2

Loans

Non-Performing Loans by Segment

* Excluding loans to other banks

NPLs

3Q



NPLs

(Rp tn)

(Rp tn)

(%)

Corporate

3.19

0.40

1.72%

Commercial

3.80

1.37

2.54%

Small

2.28

0.22

3.94%

Micro

1.48

0.11

3.70%

Consumer

1.39

0.08

2.00%

Total

12.15

2.17

2.41%*

30

Q3 Total NPLs of Rp 12.15 Tn with Rp 1.72 Tn in Write-Offs

Movement by Customer Segment (Rp Bn)

Movement by Customer Segment (Rp Bn)

9.97

0.16

3.72

0.21

1.72

0.55

12.15

2Q '15 UG to PL DG to NPL Payment Write-Offs Other 3Q '15

Non-Performing Loan Movements (Rp Tn)

–

Bank-Only

669

468

-1,423

38

62

756

412

29

632

411

70

243

395

-500 1,000 1,500 2,000 2,500 3,000 3,500 4,000

UG to PL DG to NPL W/O

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

#

_{3Q 2015 Details}

Loan

Background

3

Q

15

Balance

(Rp Bn)

3Q

2013

4Q

2013

1Q

2014

2Q

2014

3Q

2014

4Q

2014

1Q

2015

2Q

2015

3Q

2015

DG to

NPL

%

UG to

PL

%

Corporate

178,042

0.00

0.00

0.10

-

-

0.06

-

0.11

0.38

0.38

-Commercial

143,599

0.10

0.01

0.08

0.04

0.12

0.37

0.13

0.95

0.83

0.83

-Small

54,938

1.05

0.64

0.97

0.70

0.45

0.31

1.29

1.17

1.24

1.35

0.11

Micro

39,976

1.18

0.89

1.16

1.26

1.19

0.83

1.25

1.37

1.50

1.57

0.07

Consumer

69,277

0.17

0.07

0.35

0.20

0.20

0.09

0.28

0.23

0.25

0.35

0.10

Total

485,833

0.25

0.13

0.30

0.21

0.20

0.25

0.33

0.60

0.68

0.72

0.03

3Q 2015 Annualized Net Downgrades of 2.7% on Loans

Originated Since 2005

32

R

es

tru

ctu

red

Loans

19.4 18.8 18.6 17.4 20.3 23.1 21.5 22.3 21.7 18.4 16.9 16.2 16.6 16.4 16.2 17.2 17.1 17.1 15.3 15.2 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 5 .0 10 .0 15 .0 20 .0 25 .0 30 .0 4Q '05 1Q '06 2Q '06 3Q '06 4Q '06 1Q '07 2Q '07 3Q '07 4Q '07 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

Rest

ruct

ured

Loans

Do

wngr

ad

e

to No

n

-P

erf

or

m

ing

Af

ter

b

ei

n

g

R

es

tru

ctu

red

14 .9 % 17 .2 % 16 .2 % 13.0% 12.8% 17 .6 % 0 .8 % 0 .2 % 3 .9 % 0 .2 % 5 .5 % 5 .7 % 0 .0 % 2 .0 % 4 .0 % 6 .0 % 8 .0 % 10 .0 % 12 .0 % 14.0% 16.0% 18 .0 % 20 .0 % 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 % N PL in Res tru ctu re d Lo an % DG to N PL Af ter Be in g Re stru ctu re d

Enhancing Synergies & Value from Subsidiaries

Total Assets Rp67.1 Tn

Bond Trading Volume Rp49.5 tn

Total Assets Rp19.5 Tn

Total Loans Rp1.2 Tn

Total Financing Rp11.9 Tn Total Financing

Rp50.6 Tn

Equity & FI Underwriting Rp7.7 tn

Annual FYP Rp2,283 Bn

Net Interest Margin 10.1 %

Net Interest Margin 3.43% Total Deposits

Rp59.7 Tn

Equity Trading Volume Rp83.7 tn

ROA 5.4%

ROA 1.78%

ROA 5.19% ROE

4.10%

ROE 3.8%

ROE 67.0%

ROE 5.26%

ROE 30.1%

•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

Man

di

ri

Fi

nan

ci

al

Servi

ces

Performance

34

90 245 235 171 183 237 255 258 234 262 259 298 270 269 256 348 297 316 308 360 274 247 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 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 599 549 673 820 742 769 946 796 892 712 667 695 850 726 774 611 832 874 648 648 816 719 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 '15 810,604 892,582 1,518,536 1,602,778 1,638,543 1,695,242 1,744,124 1,790,508 1,858,702 1,878,121 1,918,703 1,966,698 2,032,635 2,122,563 2,216,648 2,354,395 2,479,161 2,656,672 2,961,906 3,162,354 3,360,000 3,465,385 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 -17 .73 % Yo Y Gr o w th -21 .84 % Yo Y Gr o w th 30 .44 % Yo Y Gr o w th

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 6,345 healthcare providers and recorded over Rp 697 Bn in claims year to date 2015

• 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 1,146 Bn in 2015 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 868,232 InHealth members.

692

,831

1

,023

,228

1

,175

,240

1

,118

,206

1

,141

,896

1

,087

,313

868

,232

5,501

6,242 6,314 6,262 _{6,094 6,189} 6,345

4,500 5,000 5,500 6,000 6,500

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

2009 2010 2011 2012 2013 2014 9M 2015 Total Member # of Providers

36 78 47 107 120 203 154 108

203 811

1,073 1,203

1,410 1,400

1,106 1,146

0 50 100 150 200 250

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

2009 2010 2011 2012 2013 2014 9M 2014

9M 2015 Profit (Rp Bn) GWP (Rp Bn)

Ba k Ma di i s

2015 Corporate Guidance

2015 Target

9M 2015 Realization

Gross Loan Growth (YoY)

11%-13%

10.7%

Low Cost Deposits

Rp 420 Tn

Rp 416 Tn

Net Interest Margins

>5.80%

5.81%

Efficiency Ratio

<45%

43.10%

Gross NPLs

2.5-3.0%

2.81%

Cost of Credit

1.9%-2.1%

2.07%

# of New ATMs

2,500

1,997

# of New EDCs

40,000

24,085

# of New Micro Outlets

300

220

# of New Conventional Branches

50

68

Operating Performance

Highlights

38

Corporate Banking:

Generating Strong Asset Spread

Performance to Date: 9M 2015 (Rp Bn)

_{Strategies for 2015}

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

3,604

1,805

972 491

5,890

153

1. Integrated Wholesale Transaction

Banking.

2.

Broaden product offering and services.

3. Acquire RMB License for Bank Mandiri

Shanghai Branch.

4. Open new Distribution Channel in

BMHK.

5. Increased capacity and business

processes for distribution and retail

brokerage.

6. New product innovations to improve

alliances and synergies with Mandiri

Group.

Treasury & Market

2,804

2,496 411

4,889

9

4,882

Mandiri Sekuritas

fi a ial pe fo

a e

Q3 2015

Q3 2014

Y-o-Y



(%)

Revenues

375

472

(21%)

•

Investment Banking

95

85

11%

•

Capital Market

196

242

(19%)

•

Proprietary

-7

44

(115%)

•

Investment Mgt

91

101

(9%)

)

Operating Expenses

313

312

1%

Earnings After Tax

30

96

(69%)

Equity Transactions

–

bn

83,660

100,130

(16%)

SUN Transactions - bn

49,497

57,730

(14%)

Equity & Bonds

Underwritten

–

bn

7,665

6,725

14%

ROA

2.9%

6.6%

(56%)

ROE

3.8%

12.5%

(69%)

(Rp Bn)

Commercial Banking:

Strong revenues from Assets

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 2015 (Rp Bn)

_{Strategies for 2015}

4,616

863

742 341

5,880

1,857

Commercial Banking :

Stronger Platform & Improved Distribution Capability

42

Expanding Scope of Distribution, Q3 2015

Solid & Stable Source of

_{Low Cost Funds}

Product Q3

2015 Q3

2014 Growth

Demand

Deposit 30.49 99.29 42.51%

Rupiah 17.04 4.66 45.66%

FX 13.45 4.63 38.31%

Saving

Deposit* 7.80 0.77 94.39%

Total CASA 38.31 10.06 43.56%

Total Funding 57.81 15.53 77.11%

CASA Ratio = 66.27%

Funding from Java & Bali = 72.31% of total funding

Sumatera Loans = Rp 24,0 tn

Funds = Rp 9.5 tn

Kalimantan Loans = Rp 8.2 tn Funds = Rp 3.9 tn

Eastern Loans = Rp 4.8 tn Funds = Rp 2.6 tn

Java and Bali Loans = Rp 114,4 tn

Funds = Rp 41.8 tn

* Business Savings Product CBC = 24 Unit Floor = 23 Unit

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: 9M 2015 (Rp Bn)

_{Strategies for 2015}

5,529

3,164

1,395

2,313

7,774

3,060

Business Banking :

44

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 : 75

M-2 Branch : 89 M-3 Branch : 164

Expanding Scope of Distribution, 2015

Solid & Stable Source of

_{Low Cost Funds*}

Product Q4

2014

Q3 2015

Growth YTD

Demand

Deposit 25.6 29.9 16.8%

Saving

Deposit 66.1 63.6 (-3.8%)

Total CASA 91.7 93.5 1.96%

Total

Funding 121.7 115.3 (-5.3%)

Rp Tn

CASA Ratio = 81,1%

Funding from Java & Bali = 75.2% of total funding

Sumatera Loans = Rp 13.9 tn Funds = Rp 15.3 tn

Kalimantan Loans = Rp 9.0 tn Funds = Rp 5.7 tn

Eastern Loans = Rp 7.8 tn Funds = Rp 7.7 tn

Java and Bali Loans = Rp 27.2 tn Funds = Rp 86.7 tn

45

BSM

Add

ress

ing As

se

t Qu

al

ity

Issues

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 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 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% FDR

Sy

ari

a

h

Fi

n

an

ci

ng

(

Rp

tn

)

Fi

n

an

ci

a

l P

er

for

mance

(Rp

bn

)

FY ’ FY ’ FY ’ FY’ FY’ FY’ FY’ Q ’ an ci n g 13,278 16,063 23,968 36,664 44,755 50,460 49,133 50,590 p o si ts 14,899 19,338 28,999 42,618 47,409 56,461 59,821 59,708 e ts 17,066 22,037 32,482 48,672 54,229 63,965 66,942 67,120 T 196.42 290.94 418.52 551.07 805.69 651.24 71.78 148.8 o s: A (% ) 1.83 2.23 2.21 1.95 2.25 1.53 0.17 0.42 E ( % ) 21.34 21.40 25.05 24.24 25.05 15.34 1.49 4.10 ss N PF 5.66% 4.84% 3.52% 2.42% 2.82% 4.32% 6.83% 6.89%

Ne

t

In

ter

es

t M

ar

gi

n

&

Cos

t of

Fund

s

Yo A

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% 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 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% 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%

46

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 2015 (Rp Bn)

_{Strategies for 2015}

8,463

4,327

_1,532

11,258

_1,323

Mand

iri

Tunas

Fi

nance:

Total

Fi

nan

ci

ng

YTD of Rp

11

.95

Tn

47

al

Di

sb

u

rsem

en

t

an

d

th

e B

reak

d

ow

n

Joi

n

t

Fi

n

an

ci

ng

an

d

N

on

JF

B

reak

d

ow

n

of

Fi

n

an

ci

ng

3

Q

2015

P

erf

or

man

ce

(Rp

Bn

)

3Q

₂₀₁₅

3Q

₂₀₁₄

Cha

ng

e

Loa n s 24 ,83 2 19 ,68 1 26 .17 % N e t In co me 225 175 28 .57 % Ap p ro val Ra te (% ) 87 .57 % 89 .20 % (1.8 3%) D isb u rseme n t 11 ,95 0 10 ,78 4 10 .82% N IM ( % ) 3.4 3% 3.2 8% 4.5 3% R O A (% ) 5.1 9% 4.8 9% 6.1 1% R OE (% ) 30 .10 % 30 .74 % (2.0 8%) C ER ( % ) 45 .80 % 44 .21 % 3.5 9% N PL (% ) 1.4 3% 1.2 6% 13 .59 % 375 566 852 966 1,146587 30278 257 576 884 761 1,054 1,110 1,016523 1,506 1,199 1,409 1,600 1,454 1,909 1,020 398 341 425 606 694 1,3061,369 1,656 1,530 1,592981 1,771 1,478 1,728 2,2242,456 2,056 2,408 2,206 2,3912,236 1,936 3,094 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15

JF No

n JF 405 539 806 1,101 1,370 1,364 1,245 1,355 1,353 1,609 1,420 2,075 2,105 2,416 2,871 2,678 3,290 3,374 3,398 3,824 3,549 3,732 3,975 309 306 351 372 350 422342 312373 486396 401 372 345 289232 208 162 149 10896 71 82 61 79 118 99 118 109 84 67 60

72 49

56 56 76 80 70 64 70 68 60 45 41 57 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 M o to rc yc le Us ed Car N ew Car

48

Supporting

Materials

We are Preparing For Our Next Transformation

2009

2005

Market Cap: IDR 60 Tn Revenue Market Share: 8% Net Profit: IDR 2.41 Tn ROE: 10%

Gross NPL: 16.3%

Market Cap: IDR 136.9 Tn Revenue Market Share: 13.4% Net Profit: IDR 9.22 Tn

ROE: 24.24% Gross NPL: 2.42%

2020

Top Bank In ASEAN

Market Cap: >IDR 225 Tn

Revenue Market Share: 14–16% ROE: >25%

Gross NPL: <4%

2014

• Building a winning organization • Delivering tailored proposition

for priority segments • Building alliances

• Strengthening risk management

•Wholesale transaction banking •Retail payment & deposits •Retail financing

•Business transformation •Developing integrated Human

Capital & IT

•Focusing on non-organic growth

1

st

_{Transformation}

2

nd

_{Transformation}

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

•

Revenue Growth 9M (Whole

Group): Rp13.1Tn (21% YoY)

•

Profit from Subsidiary:

Rp1.42Tn (9.8% of EAT)

•

9M Revenue Wholesale vs

Retail : Rp 17.9Tn vs Rp 22.8Tn

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

12,138

5,261

6,970

10,428

Net Interest Income Fee-Based Income Overhead Expenses & Others

Pre-provision Operating Profit

3Q 2015 operating profit increased by 43.7% from 3Q 2014

on higher NII

3Q 2015

Notes :

1. Fee based income excluding gain on sale & increasing value GB & securities

3Q 2014

Higher 43.7%

10,405

3,548

6,697

7,257

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

…a d Offe I o ati e Pa

e t “olutio s

 E-Moneyis the re-branding of prepaid Mandiri cards launched in October 2012.

 Can be used for Toll-road Transactions (Jabodatabek). Parking (ISS Parking). Bus (Trans Solo & Trans Jogja). Fuel

(Pertamina Gas Stations). Retail Shops (Indomaret. Alfamart. Alfamidi. Lawson. Superindo). Restaurants (Solaria.

Excelso. Es Teller 77).

 Can be owned by all customers & non customers with a maximum balance of Rp 1 million. Recharge available at Mandiri ATM. ATM Bersama. E-money machines. and E-money merchants.

Pre-Paid Card Volume (000s)

489774386560 506648 7751,748 2,118 4,670 4,015 3,988 5,282 4,833 4,926 5,2756,159

7,891 9,578 13,662 16,802 2,418 2,848_3,156 3,326 3,741 3,966 5,072 5,908 8,146 11,680 18,356 20,211 22,112 21,752 22,741 21,156 20,679 19,460 20,542 20,502 22,079 23,864 24,644 27,260

7 9 14191412 14 9 214209 139 136142415321 467

484 510

456 272 1,502

2,231 4,346 5,100 6,421 8,332 14,874 18,261 20,981 22,777 4 Q '09 1 Q '10 2 Q '10 3 Q '10 4Q '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 '1 3 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3 Q '14 4 Q '1 4 1 Q '15 2 Q '15 3 Q '15 Indomaret e-Toll Gaz e-Money

Pre-Paid Transaction Volume (000s)*

165.6 259.0

293.0 353.0

458.0 516.7 626.8 688.3 773.3 846.2 981.3 1,093.3 1,412.0 1,486.6 1,564.2 1,662.7 1,751.6

1,828.8 1,898.8 1,975.7 2,112.1 2,248.5 2,478.1 2,692.8 99.5 150.0 163.0 183.0 204.0

295.0 367.5 505.8

693.3 919.8

1,097.9 1,226.0

1,312.1 1,409.0 1,437.5 1,533.3

1,564.0 1,632.5 1,722.2

1,867.0 1,959.7 2,011.8 2,110.3

34.3

36.0 43.0 47.6 47.7 48.1 49.4 49.4 49.7 49.7

58.0 58.5 58.5

63.7 64.2 84.0 84.2 84.3

84.3 24.7

89.2 151.6 _119.7 191.8 391.7 644.4 889.6 1,060.6 1,124.4 1,239.6 D ec -09 M ar -10 Jun -10 Sep -10 D ec -10 M ar -11 Jun -11 Sep -11 D ec -11 M ar -12 Jun -12 Sep -12 D ec -12 Mar -13 Jun -13 Sep -13 D ec -13 M ar -14 Jun -14 Sep -14 D ec -14 M ar -15 Jun -15 Sep -15 Indomaret e-Toll Gaz e-Money

Strong Microfinance Growth (2)

Outstanding

–

Rp Tn

4.4 5.4 7.3

11.8 19.0 27.1 36.0 37.2 39.7 40.0 2.02%2.29% 2.76% 3.91% 6.25% 9.77% 11.00%10.85% 11.85% 11.91% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 8.50% 9.00% 9.50% 10.00% 10.50% 11.00% 11.50% 12.00% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40

2008 2009 2010 2011 2012 2013 2014 1 Q15 2Q

15

3

Q

15

Mandiri Microfinance Outstanding Mandiri Market Share

54

*based on OJK publication market data (micro small medium business/ UMKM)

1 ,347 1 ,646 1,6 45 2 ,195 1 ,826 2 ,522 2 ,791 4 ,208 3 ,397 4,5 25 4 ,435 5 ,764 5 ,136 7 ,057 5 ,187 6 ,877 5 ,689 8 ,527 7,0 39 7 ,732 5 ,974 5 ,945 4 ,005 1 Q '10 2 Q '10 3Q '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 '1 2 1 Q '13 2 Q '13 3 Q '13 4 Q '13 1 Q '14 2 Q '14 3Q '14 4 Q '14 1 Q '15 2 Q '15 3 Q '15 Booking

Booking Volume

–

Rp Bn

16.5%16.5% 17.3% 16.9% 17.9% 17.7% 17.1%

21.0% 20.8% 20.6% 20.2% 18.70% 14.40% 14.27% 14.01% 14.20% 13.20% 13.15%13.20% 13.15% 10.98% 11.25% 10.77% Asset Spreads(%)

94

Measur

es

of s

cal

e and

retur

ns rel

at

ive t

o

peers

Bank Onl

y,

As

of June

2015

29.2% 23.7% 21.7% 15.6% 12.5% 10.7% 10.0% 9.5% 4.3% 1.1% BRI Mandiri BCA BTN Permata Panin Danamon BNI BII CIMB Niaga 2,327 2,025 1,760 1,364 1,135 869 851 651 555 448 Mandiri BRI BNI Danamon BCA CIMB Niaga BTN Permata Panin BII 7.9% 7.1% 6.6% 6.5% 5.6% 5.1% 4.7% 4.3% 4.3% 3.8% BRI Danamon BCA BNI Mandiri CIMB Niaga BTN Panin BII Permata 50,604 41,518 35,010 23,897 23,862 15,078 11,112 8,694 7,826 7,364 BRI Danamon Mandiri BNI BCA CIMB Niaga Panin BTN Permata BII

B

ran

ch

es

R

e

tu

rn

on

E

q

u

ity

(Af

ter

Ta

x)

(%)

Em

p

lo

yee

s

N

e

t

In

ter

es

t

Mar

gi

n

s

(%)

3.9% 3.8% 3.2% 2.1% 1.7% 1.6% 1.5% 1.2% 0.5% 0.2% BRI BCA Mandiri Danamon Panin BTN BNI Permata BII CIMB Niaga

R

e

tu

rn

on

As

se

ts

(B

e

for

e

Ta

x)

(%)

21,215 17,032 16,707 14,157 3,325 1,830 1,530 1,473 1,007 1,005 BRI Mandiri BCA BNI CIMB Niaga BTN BII Danamon Permata Panin

A

TMs

A ver ag e

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Notes

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Notes

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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 Tay Chin Seng 65 6591 0419 Chinseng.Tay@baml.com

BARCLAYS CAPITAL Sharnie Wong 852 2903 3457 Sharnie.Wong@barclays.com

BNP PARIBAS Igor Nyoman 62 21 2358 4947 Igor.Nyoman@asia.bnpparibas.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

NOMURA Jaj Singh 65 6433 6973 Jaj.Singh@nomura.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