2017Q4 Analysts Meeting—2

(1)

PT Bank Mandiri (Persero) Tbk

FY 2017

Results Presentation

(2)

Share Price Performance and Information

∆ fro : IPO Dec 31, 2016

BMRI 2,309.64% 38.23%

JCI 1,111.32% 19.99%

-300% 200% 700% 1200% 1700% 2200%

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BMRI JCI

No. of Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.01% 28,000,000,000 60.00% 2. Retail 12,408 77.20% 392,535,874 0.84% 3. Employees 1,625 10.11% 18,358,812 0.04% 4. Cooperatives 5 0.03% 1,850,200 0.00% 5. Foundation 19 0.12% 38,475,390 0.08% 6. Pension Funds 102 0.63% 275,823,950 0.59% 7. Insurance 83 0.52% 875,312,846 1.88% 8. Banks - 0.00% - 0.00% 9. Corporations 68 0.42% 642,913,452 1.38% 10. Mutual Funds 282 1.75% 1,144,744,282 2.45% Total 14,593 90.80% 31,390,014,806 67.26% II INTERNATIONAL

1. Retail 94 0.58% 2,069,596 0.00% 2. Institutional 1,385 8.62% 15,274,582,264 32.73% Total 1,479 9.20% 15,276,651,860 32.74% III TOTAL 16,072 100.00% 46,666,666,666 100.00%

Description

(3)

2

Results Overview Page #



Corporate Strategy 3 –5



I do esia s E o o i Co ditio 6



Key Indicators + Financial Highlights 7 –8



SBU Performance Highlights 9



Ba k s Pe fo a e 10 –12



Loan Performance 13 –14



ROE & NIM 15 –16



Fee-Based & CIR 17 –18



Wholesale Business 19 –22



Retail Business 23 –29



Non-Performing Loan & Restructured Loan 30 –33



Subsidiaries 34 –35



Corporate Guidance 36

Additional Information

Operating Performance Highlights Supporting Materials

(4)

Corporate Plan

– Ba k Ma di i s

2020 Initiatives

Accelerate in Growth

Segments

Integrate The Group

Deepen Client

Relationship

I do esia s

Top Financial Institution:

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

• 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.

Current Achievements (FY2017)

 Consumer Loans Rp99.6Tn (+17.6% YoY)  Micro Loans Rp61.9Tn (+22.2% YoY)  SME Loans Rp61.6Tn (+1.3% YoY)

Current Achievements (FY2017)

 Corporate Loans Rp262.6Tn (+14.8% YoY)

 Wholesale Fee Income Rp8.6Tn (29.1% of wholesale income)

 Total income from subsidiaries Rp2,236Bn (10.8% of EAT)

 Average CASA per branch grew by 8.5%  Obtained Singapore Capital Market License

(5)

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.

Strategic Initiatives

Description

(6)

5 Our Portfolio Mix Would Be More Retail-Focused

41%

40%

24%

20%

10%

9%

10%

12%

15%

_19%

2017

2020

Consumer

Micro

Business Banking

Assets Composition Mix

1) 2)

Commercial

Corporate

68%

70%

32%

30%

2017

2020

Time Deposits

Liabilities Composition Mix

CASA

1) Bank-only figures

(7)

6 Stable Macroeconomic Indicators

Source : CEIC, Bloomberg

Low Rate / Low Inflation Environment

Current account balance in 3Q17 was

quite stable

3Q17 GDP Growth : Slow Improvement

2 3 4 5 6 7 8 9 10 D e c-1 0 D e c-1 1 D e c-1 2 D e c-1 3 D e c-1 4 D e c-1 5 D e c-1 6 D e c-1 7

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

7 Days RR

3.61 6.50 2.95 (10) (5) -5 10 15 (15) (10) (5) -5 10 15 20 1 Q 1 1 2 Q 1 1 3 Q 1 1 4 Q 1 1 1 Q 1 2 2 Q 1 2 3 Q 1 2 4 Q 1 2 1 Q 1 3 2 Q 1 3 3 Q 1 3 4 Q 1 3 1 Q 1 4 2 Q 1 4 3 Q 1 4 4 Q 1 4 1 Q 1 5 2 Q 1 5 3 Q 1 5 4 Q 1 5 1 Q 1 6 2 Q 1 6 3 Q 1 6 4 Q 1 6 1 Q 1 7 2 Q 1 7 3 Q 1 7

Capital and Financial Account

Current Account (CA) BoP 4.5 5 5.5 6 6.5 7 1 Q 1 1 2 Q 1 1 3 Q 1 1 4 Q 1 1 1 Q 1 2 2 Q 1 2 3 Q 1 2 4 Q 1 2 1 Q 1 3 2 Q 1 3 3 Q 1 3 4 Q 1 3 1 Q 1 4 2 Q 1 4 3 Q 1 4 4 Q 1 4 1 Q 1 5 2 Q 1 5 3 Q 1 5 4 Q 1 5 1 Q 1 6 2 Q 1 6 3 Q 1 6 4 Q 1 6 1 Q 1 7 2 Q 1 7 3 Q 1 7 5.39 5.06 4.25

(8)

7 K

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22.10% 24.40% 22.00% 22.55% 22.23% 20.95% 18.33% 9.66% 12.90% 2009 2010 2011 2012 2013 2014 2015 2016 2017

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186,492 201,958 256,395 316,127 359,957 380,512 443,874 489,380 540,303 2009 2010 2011 2012 2013 2014 2015 2016 2017 2.79% 2.42% 2.21% 1.87% 1.90% 2.15% 2.60% 4.00% 3.46% 2009 2010 2011 2012 2013 2014 2015 2016 2017 7,155 9,218 12,246 15,504 18,204 19,872 20,335 13,807 20,640 2009 2010 2011 2012 2013 2014 2015 2016 2017

E

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(R

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12,430 16,693 19,234 23,018 28,408 31,507 38,381 43,258 43,122 2009 2010 2011 2012 2013 2014 2015 2016* 2017

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5.04% 5.28% 5.11% 5.46% 5.74% 5.97% 6.08% 6.44% 5.87% 2009 2010 2011 2012 2013 2014 2015 2016** 2017 Y o Y 4 9 .5 % Y o Y 1 0 .4 % Y o Y (8 .8 % ) Y o Y 3 3 .6 % Y o Y (1 3 .5 % ) Y o Y (0 .3 % ) * If w e ad ju st th e in te re st in co m e f ro m s p e ci al r e p ay m e n t las t ye ar , P P O P w o u ld b e Rp 4 1 ,3 1 8 B n ( + 4 .4 % Y o Y ) * * I f w e a d ju st th e i n te re st in co m e f ro m s p e ci al r e p ay m e n t las t ye ar , N IM w o u ld b e 6 .1 % (-3 .1 % Y o Y )

(9)

8 Key Financial Highlights

Ba k Ma di i s

FY 2017 performance continues to improve:

* If we exclude RGM, 2016 PPOP would be Rp41,318 Bn (+4.4% YoY in 2017)

FY 2016

FY 2017

r

%

Loans

Rp 662.0Tn

Rp 729.5Tn

10.2%

Gross NPL Ratio

4.00%

3.46%

(13.5%)

Net NPL Ratio

1.53%

1.18%

(22.7%)

Low Cost Funds Ratio

64.2%

66.2%

3.2%

[Low Cost Funds (Rp)]

Rp 489.4 Tn

Rp 540.3 Tn

10.4%

NIM

6.44%

5.87%

(8.8%)

Efficiency Ratio

42.4%

45.4%

7.2%

PPOP

Rp 43,258 Bn*

Rp 43,122 Bn

(0.3%)

(10)

9 Balanced Earnings Between Wholesale and Retail

1,026 1,307 355

789 880

970

1,389 369

729

1,175

Micro & Business Banking

Consumer Commercial Corporate Treasury & Markets

4Q '17 4Q '16

Net Interest Income Analysis 4Q 2017

(Rp Bn)

Fee Based Income 4Q 2017

(Rp Bn)

2 8₂

4Q'17 4Q'16

7 1_,6

4Q'17 4Q'16

2,460

1,727

1,674 1,707

3,556 3,356

3,872 3,317

Treasury & Markets

Corporate Banking

Commercial Banking

Consumer Banking

Micro & Business

Banking

9 19

4Q'17 4Q'16

1,205 1,154

(11)

Deposits by Product

–

Consolidated

(Rp Tn)

Loans by SBU + Subsidiaries

(Rp Tn)

2 0 1 .9 2 0 3 .0 2 0 8 .0 2 2 7 .7 2 0 7 .3 2 1 1 .0 2 1 8 .1 2 4 3 .7 2 2 4 .1 2 4 7 .9 2 4 7 .2 2 7 2 .0 2 5 9 .0 2 7 7 .9 2 7 9 .9 3 0 9 .2

22.1 23.2 22.3 24.7

23.3 25.429.4 28.0

24.7

25.7 27.0 30.3

28.526.5 27.8 27.7 6 7 .2 7 4 .2 7 9 .6 7 8

.9 8₃

.4 9 1 .7 9 0 .7 1 0 1

.2 9₅

.4 1 0 0 .2 1 0 1 .2 1 2 4

.4 117

.6 1 2 3 .2 1 2 4 .6 1 4 1 .5 43.5 45.0

52.0 49.158.1

75.877.6 70.9 62.4 65.6 61.8 62.7 60.5 62.7 60.2 61.9 1 7 6 .9 1 9 0 .0 2 0 1 .6 2 2 2 .3 2 2 6 .2 2 2 0 .5 2 1 2 .1 2 0 6

.3 2₂

4 .4 2 2 7 .8 2 2 9 .6 2 4 2

.1 23₈

.5 2 4 5 .6 2 4 3 .1 2 5 0 .3 20.0 20.5 27.5

33.7 30.530.5 26.6 26.2 24.2 24.2 23.6 31.1 26.9 25.0 25.9 25.2 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600 640 680 720 760 800 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

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

1 6 4 .7 1 6 5 .2 1 7 5 .7 1 7 5 .8 1 7 4 .5 1 8 0 .6 1 8 5 .0 1 9 8 .8 1 8 5 .2 2 0 5 .0 2 1 1 .4 2 3 0 .3 2 3 4 .7 2 4 2 .9 2 3 6 .1 2 6 4 .2

2.3 1.3 1.3 1.3 0.8 1.0 0.9 1.4

1.3

1.2 1.1

1.1 0.8 0.8 1.0 1.2 1 1 6 .3 1 2 3 .7 1 2 7 .7 1 4 2 .8 1 4 5 .1 1 4 8 .9 1 4 9 .4 1 6 0

.6 153

.7 1 5 8 .5 1 6 2 .6 1 6 5 .2 1 5 2 .7 1 5 7 .3 1 5 7 .6 1 5 5 .8 57.4 60.3

62.4 64.7 65.7

67.7 69.5 72.3

73.4

76.178.9

84.8 87.2 91.3 95.2 99.7

46.349.0 52.0

56.0 55.357.9 57.9

60.5 56.1

60.059.8

60.8 57.559.0 59.0 61.6

28.231.0 32.7

34.6 37.239.7 40.0 42.5

44.2

46.046.7 50.6

52.2

54.3 57.061.9

55.355.5 54.6 54.7 54.3 57.0 57.9 59.4 60.9 63.964.8

69.371.2 76.4 80.3 85.3 0 40 80 120 160 200 240 280 320 360 400 440 480 520 560 600 640 680 720 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 Subsidiaries Micro

Small Cons

Comm Int'l

Corp+Gov't+SAM

Maintaining Momentum for Growth

Y-o-Y r (18.9%) 3.4% (1.2%) 13.7% 13.7% Y-o-Y r 1.3% (5.7%) 14.7% 10.3% (8.6%) 10.2% 729.5 Tn Total Total 762.5 Tn

815.8 Tn 7.0%

23.0%

10

662.0 Tn

17.6% 22.2%

(12)

11 Strong and Liquid Balance Sheet

Assets

FY 2017

FY 2016

Liabilities

FY 2017

FY 2016

Cash

24,269

22,907 Current Account

203,390

187,052

Current Acc w/ BI & Other Banks

62,522

62,848 Savings

336,913

302,328

Placement w/ BI & Other banks

74,651

73,700 Time Deposits

275,504

273,121

Receivables (Acceptances & Others)

37,984

30,713

Marketable Securities

59,692

56,791

Total Deposits

815,807

762,501

Government Bonds

103,411

98,933

Loans (Gross)

729,548

662,013 Securities Issued

16,844

9,026

Provisions of Loans

(34,116)

(32,945) Deposits from other banks

8,795

9,675

Net Loans

695,432

629,068 Subordinated Debt

192

215 Reverse Repo

2,629

5,054 Borrowings

35,704

35,883

Other Provisions

(2,369)

(2,333) Other Int. Bearing Liabilities

16,137

18,142

Deferred Tax Assets

5,564

5,990 Non Int. Bearing Liabilities

61,217

49,894

Other Assets

60,917

55,034 Equity incl. Minority Interest

170,006

153,370

(13)

12 Lower Credit Cost and Strong Non-Interest Income

Interest Income _20,193 _19,825 _1.9% _20,183 _0.0% _79,502 _76,710 _3.6%

Interest Expense _6,705 _6,656 _0.7% _7,031 _-4.6% _27,174 _24,885 _9.2%

Net Interest Income _13,488 _13,168 _2.4% _13,152 _2.6% _52,327 _51,825 _1.0%

Net Premium Income ₆₈₄ ₃₅₇ _91.7% ₄₉₀ _39.5% _2,465 _2,652 _-7.1%

Net Interest Income & Premium Income _14,172 _13,525 _4.8% _13,643 _3.9% _54,792 _54,478 _0.6%

Other Non Interest Income

* Other Fees and Commissions _3,363 _3,202 _5.0% _3,214 _4.6% _12,483 _11,440 _9.1%

* Foreign Exchange Gains - Net ₇₈₁ ₆₃₁ _23.8% ₇₆₆ _2.0% _2,888 _2,265 _27.5%

* Gain fr. sale & Incr. in Val & Sale of Bonds ₁₃₆ ₉₀ _51.2% ₂₀₈ _-34.8% _1,061 ₇₆₂ _39.4%

* Others _2,224 _1,899 _17.1% _1,758 _26.5% _6,910 _5,581 _23.8%

Total Non Interest Income _6,503 _5,822 _11.7% _5,947 _9.4% _23,343 _20,048 _16.4%

Total Operating Income _20,675 _19,347 _6.9% _19,589 _5.5% _78,135 _74,526 _4.8%

Provisions, Net _{(3,733) (8,734)} _{-57.3% (2,889)} _29.3% _(15,952) _(24,645) _-35.3%

Personnel Expenses _{(4,280) (3,435)} _{24.6% (3,668)} _16.7% _(14,859) _(13,619) _9.1%

G&A Expenses _{(4,363) (3,517)} _{24.1% (3,816)} _14.3% _(15,406) _(13,958) _10.4%

Other Expenses _{(1,060) (1,011)} _{4.9% (1,767)} _{-40.0% (4,750) (3,691)} _28.7%

Total Expense _{(9,703) (7,963)} _{21.9% (9,251)} _4.9% _(35,014) _(31,268) _12.0%

Profit from Operations _7,238 _2,651 _173.1% _7,449 _-2.8% _27,170 _18,613 _46.0%

Non Operating Income _{79 (17)} _-565.3% ₍₄₅₎ _-276.6% ₍₁₃₎ ₍₄₀₎ _-67.6%

Net Income Before Tax _7,318 _2,634 _177.9% _7,404 _-1.2% _27,157 _18,573 _46.2%

Net Income After Tax 5,570 1,793 210.6% 5,606 -0.6% 20,640 13,807 49.5%

FY 2017 FY 2016 Y-o-Y

(14)

13 LDR Decreased to 89.2%, Bank Only Loan Growth of 8.7%

1 1 8 .6 1 2 5 .2 1 2 9 .3 1 3 1 .7 1 2 9 .9 1 5 1 .9 1 5 3 .5 1 6 9 .7 1 6 6 .7 1 6 6 .3 1 7 6 .8 1 7 7 .0 1 7 5 .1 1 8 1 .4 1 8 5 .8 2 0 0 .1 1 8 6 .4 2 0 6 .2 2 1 2 .4 2 3 1 .3 2 3 5 .4 2 4 3 .7 2 3 7 .1 2 6 5 .3 8 2

.9 ₉0.1 93.6 10

.3 104

.4 1 1 8 .2 1 1 7 .1 1 1 6 .5 1 2 3 .9 1 2 7 .9 1 4 2 .9 1 4 5 .2 1 4 9 .1 1 4 9

.5 ₁60.7

.7 158

.6 ₁65

.2 1 5 2 .7 1 5 7 .3 1 5 7

.6 155

.9 33

.1 38

.5 4

.5 44.1 4

.3 ₄9.0 52

.0 56.1 55.3 5

7 .9 5 7 .9 6 0 .5 5 6 .1 6 0 .0 5 9 .8 6 0 .8 5 7

.5 59.0 59.0

6 1 .6 13.1 15.116.8 19.020.7 23.9 24.927.028.2 31.0 3 2

.7 34

.2 39

.0 42

.2 4

.0 ₄6.7

.2 54

.3 5 7 .0 6 1 .9 4 0

.7 43 .3 ₄4.5 4

7 .7 4 9 .3 5 2

.4 55.2

.4 60 .3 62

.4 64

.7 67.7 69 .5 7 2 .3 7 3 .4 7 6

.1 ₇8.9

8 4 .8 8 7 .2 9 1 .3 9 5 .2 9 9 .7 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 8 3 Q '1 7 4 Q '1 7

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y r 17.6% 22.2% 1.3% -5.7% 14.7% 8.7% Total 15.5% 9.6% 9.6% 24.2% 41.2% Break down

As of December 2017; Non-consolidated numbers

3 2 7 .2 3 5 0 .4 3 6 5 .2 3 8 8 .8 3 9 1 .6 4 2 8 .7 4 5 0 .8 4 7 2 .4 4 7 0 .4 4 8 5 .8 5 0 6 .5 5 3 0 .0 5 3 2 .8 5 5 2 .8 5 6 0 .6 5 9 5 .5 5 7 4 .7 6 1 0 .9 6 2 5 .1 6 6 2 .0 6 5 6 .2 6 8 2 .0 6 8 6 .2 7 2 9 .5 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% 87.7% 87.4% 88.1%

90.2% _86.5%89.5%89.4%89.9% 89.2% 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

Loans (Rp Tn) LDR (%)

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% 5.9% -0.9% 3.9% 0.6% 6.3% 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% 11.2% 14.2% 11.6% 9.8% 10.2% 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

(15)

14 Rp 277.35 Tn in Loans Disbursed in 4Q 2017

605.89

277.35

187.67

33.85 14.51

0.72

3.67

644.26

3Q'17 Disburs. Install. Payment Pay-off FX Impact

Write-Offs

4Q'17

Loan Movement

–

4Q 2017 Bank-Only

Rp Tn

Loan Disbursement by Segment

–

4Q 2017 Bank-Only

Rp Tn

222.58

20.71

11.92

12.99

9.15

277.35

(16)

27.4 28.4 28.3 27.2 30.5 35.7 53.3 62.0 73.9 85.7 107.4 137.4 153.2

RWA (Rp Tn) Total Capital (Rp Tn)

15 Post Asset Revaluation CAR 21.6%; ROE 12.9%

Profit After Tax & ROE

1.1Tn from GIAA Recovery

519 1,168 1,549 1,744 519

2,003 2,681

3,403 4,303

4,925 5,138

3,817 4,079 1,099

97 305

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

2,543 3,744 3,991

4,660 4,786 3,263

5,384

967 1,017

1,528 1,408 610

2,352 1,040

1,345 4,509

4,869 4,658

4,933 5,606

-623 1,234

1,166 1,390

2,536 2,833

3,073 4,385

5,401 5,418

5,753

1,794 5,571

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%

9.7% 12.9% Rp Bn

Bank Only - Capital & RWA Movement

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

• CAR inclusive of Credit, Market and Operational Risk started in January 2010 23.2% 24.6%

20.8%

15.7%15.4% 13.4%

15.3% 15.5%

14.9%

16.6%18.6%

21.4% 21.6%

(17)

16 Q4 Bank-Only NIM of 5.6%

5 .3 3 % 5 .8 4 % 5 .4 4 % 5 .1 9 % 5 .5 4 % 5 .8 4 % 5 .6 7 % 5 .5 0 % 5 .3 4 % 5 .7 1 % 6 .0 8 % 5 .9 4 % 5 .9 0 % 5 .8 4 % 5 .9 2 % 5 .4 1 % 5 .7 9 % 5 .7 4 % 6 .7 4 % 6 .2 8 % 6 .0 0 % 7 .0 6 % 6 .0 3 % 5 .6 9 % 5 .5 8 % 5 .5 8 % 5 .5 6 % 4 Q '0 9 4 Q '1 0 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 * 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 ** 1 Q '1 6 2 Q '1 6 3 Q '1 6 * * 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 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 9.29.2 9.8

9.3 9.110.09.0

8.6 8.6 8.6 8.4

4.3 3.8

3.4 3.2

2.8 2.7 2.7 2.8 2.6 2.83.1 3.3

3.53.9 3.8 3.9 3.6 3.7 _3.3 3.2

3.3

3.1 3.0 2.9 2.9 2.9 2.7

Yield on Assets (%) Cost of Funds (%)

6.4 7.2 5.3 4.9 5.1 4.4 4.5 4.5 6.6

4.2 4.3 4.4 6.4

4.6 4.6 13.3

3.8 4.3 4.2 4.4

4.2 1.5

0.7

0.6 0.7 0.7 0.8 0.7 0.7 0.9 1.1 0.8 0.7 0.7 1.0 1.0 1.2 1.3 1.3_1.1 1.2 1.1 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 4 Q … 4 Q '1 0 4 Q '1 1 4 Q '1 2 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 12.612.512.5 11.311.8 11.8

12.0 12.4 12.2 12.1 12.2 12.2 12.1 11.9 11.3 11.3 11.3 10.8

10.6 10.6 10.3

6.7 6.5

4.1 4.0

5.3 5.4 5.9 5.7 6.0

6.4 6.4 6.7 6.9 7.0 6.6 6.7 6.8 6.6

6.9 6.6

6.2 4.7 4.23.9

3.0 3.7 3.9

4.1 4.6 4.4 4.5 4.3 4.3 _3.8

3.7 _3.6

3.5 3.4 3.3 3.2 3.0 _2.8

0.0 2.0 4.0 6.0 8.0 10.0 12.0

Avg Loan Yield Avg Bond Yield Avg Deposit Cost

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

** 4Q 15 / 3Q16, If we adjust the interest income from special repayment last year, NIM would be 6.5% / 6.0% , YoA would be 9.5% / 8.9%, Average FX Loan Yield 4.2% / 4.2%

(18)

17 Greater Detail On Fee-Based Income

Non-Loan Related Fees & Commissions 4Q 2017 4Q 2016 Y-o-Y

Δ% 3Q 2017

Q-o-Q

Δ% FY 2017 FY 2016

Y-o-Y

Δ%

Administration Fees 968 875 10.6% 932 3.9% 3,732 3,487 7.0%

Opening L/C, BG & Cap. Market (Custodian & Trustee) 357 336 6.2% 335 6.7% 1,323 1,259 5.1%

Subsidiaries 454 416 9.0% 400 13.5% 1,628 1,475 10.4%

Transfer, Retail Transaction 698 722 (3.3%) 696 0.3% 2,624 2,409 8.9%

Credit Cards 612 496 23.4% 568 7.8% 2,170 1,994 8.9%

Mutual Fund, ORI & Bancassurance 131 125 4.8% 123 6.6% 464 426 8.9%

Syndications 124 240 (48.2%) 169 (26.2%) 628 560 12.2%

Payroll Package 17 19 (12.4%) 18 (4.5%) 70 75 (7.6%)

Others 1 -28 (104.0%) -25 (104.5%) -156 -245 (36.6%)

Total 3,363 3,202 5.0% 3,214 4.6% 12,483 11,440 9.1%

Foreign Exchange Gains 781 631 23.8% 766 2.0% 2,888 2,265 27.5%

Gains Fr Sale & Incr. in Value of Sec. & Gov. Bonds 136 90 51.2% 208 (34.8%) 1,061 762 39.4%

Cash Recoveries 1,286 1,192 7.9% 915 40.6% 3,738 3,193 17.1%

Others Income 937 707 32.6% 844 11.1% 3,173 2,388 32.8%

Total Fee Based Income (As Reported) 6,503 5,822 11.7% 5,947 9.4% 23,343 20,048 16.4%

(19)

18 4Q 17 Cost to Income Ratio of 47.2%

1 ,5 2 4 1 ,5 1 0 1 ,8 8 3 2 ,1 0 7 1 ,6 1 4 2 ,0 0 4 2 ,0 7 1 2 ,5 6 5 2 ,0 3 4 2 ,3 2 2 2 ,3 7 5 3 ,1 6 7 2 ,3 0 9 2 ,6 9 3 2 ,9 5 8 3 ,4 8 8 2 ,5 7 4 3 ,1 7 3 3 ,3 2 2 3 ,7 3 0 3 ,3 0 5 3 ,6 4 0 3 ,4 9 7 3 ,5 1 7 3 ,4 0 1 3 ,8 2 5 3 ,8 1 6 4 ,3 6 3 1 ,5 4 7 1 ,6 3 1 1 ,6 7 1 1 ,9 0 3 1 ,8 6 5 1 ,9 3 9 1 ,8 6 9 2 ,3 7 2 2 ,0 4 2 2 ,3 3 6 2 ,6 7 9 2 ,3 7 4 2 ,6 2 6 2 ,6 6 2 2 ,7 5 2 2 ,8 0 7 2 ,9 2 0 3 ,1 0 9 2 ,9 0 3 3 ,4 4

4 3_,4

0 6 3 ,4 8 8 3 ,2 9 0 3 ,4 3 5 3 ,4 9 8 3 ,4 1 3 3 ,6 6 8 4 ,2 8 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

G&A Expenses Personnel Expenses

Breakdown of 4Q 2017 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% 41.3%42.7%

43.8% 47.7%_47.2%

CIR (%) Q4 2017 Q3 2017 Q4

2016 QoQ YoY 4Q

FY 2017 FY 2016 YoY FY Personnel Expenses

Base Salary 956 955 882 0.1% 8.4% 3,793 3,533 7.4%

Other Allowances 1,950 1,633 1,542 19.4% 26.5% 6,806 6,302 8.0%

Post Empl. Benefits 157 122 54 28.5% 193.7% 482 351 37.1%

Training 304 120 177 153.3% 71.4% 554 531 4.4%

Subsidiaries 912 837 780 8.9% 16.9% 3,224 2,902 11.1%

Total Personnel Expenses 4,280 3,668 3,435 16.7% 24.6% 14,859 13,619 9.1%

G&A Expenses

IT & telecoms 585 595 573 -1.7% 2.2% 2,370 2,140 10.8%

Occupancy Related 798 731 839 9.1% -4.9% 2,956 2,916 1.4%

Promo & Sponsor 517 305 386 69.6% 33.7% 1,287 1,243 3.5%

Transport & Travel 252 179 189 40.9% 33.4% 770 699 10.2%

Goods, Prof. Svcs. & Oth. 621 498 668 24.6% -7.1% 2,126 2,048 3.8%

Employee Related 657 654 622 0.5% 5.6% 2,542 2,375 7.0%

Subsidiaries 934 854 240 9.3% 289.6% 3,314 2,537 30.6%

Total G&A Expenses 4,363 3,816 3,517 14.3% 24.1% 15,365 13,958 10.1%

Other Expenses * 1,060 1,767 1,011 -39.9% 5.1% 3,689 2,680 37.6%

Total Operating Expenses 9,706 9,251 7,963 4.9% 21.9% 33,913 30,257 12.1%

*44.3% excluding Rp 675bn tax provisioning

(20)

3 8 .6 0 4 1 .8 7 4 4 .4 4 4 0 .3 5 4 1 .8 8 4 5 .4 7 4 5 .7 3 4 9 .6 2 4 8 .1 7 5 3 .2 9 5 9 .7 9 6 7 .7 5 6 2 .2 2 6 2 .9 5 7 2 .2 4 7 5 .3 8 7 3 .5 2 7 6 .9 0 7 8 .5 2 8 7 .7 9 8 3 .8 5 8 6 .5 5 7 7 .7 2 8 7 .8 5 8 9 .1 4 9 0 .7 7 9 0 .0 3 1 0 5 .7 9 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% 74.3% 80.8% 84.7% 82.8% 96.2% 50% 55% 60% 65% 70% 75% 80% 85% 90% 95% 100% M ar 1 1 Ju n e 1 1 S e p 1 1 D e c 1 1 M ar 1 2 Ju n 1 2 S e p 1 2 D e c 1 2 M ar 1 3 Ju n 1 3 S e p 1 3 D e c 1 3 M ar 1 4 Ju n e 1 4 S e p 1 4 D e c 1 4 M ar 1 5 Ju n 1 5 S e p 1 5 D e c 1 5 M ar 1 6 Ju n 1 6 S e p 1 6 D e c 1 6 M ar 1 7 Ju n 1 7 S e p 1 7 D e c 1 7 20 30 40 50 60 70 80 90 100 110 120

Loan FX

LDR FX

Management of FX Balance Sheet

USD Bn

Rp Tn

Breakdown of FX lending (Bank-Only)

4 Q

17 (Total USD 7.80 Bn)

0.03 0.04 0.17 0.33 0.35 0.61 0.65 0.67 1.14 1.15 2.66

Constr

Oth

Bus Serv

Trans

Utilities

Soc Serv

Agri

Trading

Oil & Gas

Mining

Mfg

r

% (YoY)

48% 50% 5% -8% 3% 204% 171% 3% -15% -93% -44%

FX Loans & LDR (Bank-Only)

(21)

20 Top 10 Industries in Corporate Lending Expansion

4Q 17

–

4Q 16 (Total Rp34.02 Tn)

Rp Bn

1,199 1,221 1,598 2,728 2,751 3,031 4,044 5,558 6,221 19,113

Mfg-RawM Mfg-Chem Mfg-NonM Constr Warehousing Electricity Manufacturing Mining-Metal Ore Plantations Mfg-F&B

r% 77.5%

19.1%

69.1%

81.2%

13.3%

713.0%

62.5%

38.7%

7.7%

20.6% Rp Bn

Top 10 Industries in Commercial Lending Contraction

4Q 17

–

4Q 16 (Total

–

Rp9.34 Tn)

-754 -813 -969 -987 -1,029 -1,368 -1,809 -1,831 -1,975 -2,106

Trad-Ret Mfg-Metal Trad-Imp Mfg-P&P Bus Serv Trad-Distr Mfg-RawM Multifinance Mfg-Chem Mining-Coal

r% -40.8%

-12.9%

-74.8%

-17.4%

-7.6%

-9.6%

-23.1%

-22.0%

-9.5%

-23.4%

(22)

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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 7,563 8,439 9,152 10,458 12,125 4Q10 4Q11 4Q12 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17

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58,055 62,257 61,691 53,604 74,116 89,959 74,334 73,192 140,278 149,351 164,174 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 9 .9 % Y o Y G ro w th

(23)

22 Strong Pickup in Cash Management

*) _{Excluding Mandiri Transaction System}

Forex

4 ₄2 ₆3 ₆1 ₅6 ₄1 ₄6

281,153

310,512

322,795

399,500 _379,730

348,436

433,929

452,576

-50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000

-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 Dec 16 Dec 17

Value (USD Bn) # of Trx

Wholesale Remittance

435,866

448,219

599,909

651,241

739,046 730,011

399,585

488,273

-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 Dec 16 Dec 17

Value (USD Mn) # of Trx

Mandiri Cash Management*

2,503 7,668

13,676 24,543

44,184 61,599

82,075

120,520

-25,000 -5,000 15,000 35,000 55,000 75,000 95,000 115,000 135,000

-1,000.0 2,000.0 3,000.0 4,000.0 5,000.0 6,000.0 7,000.0

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Dec 16 Des 17

Value (Rp Tn) # of Trx (000)

Trade Transactions : Export, Import, Domestic

495,813 510,916

517,251 520,948 _509,207

468,870

406,669

436,290

-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 Dec 16 Des 17

(24)

23 Time Deposit Rates Fell 40 bps QoQ

1 3 2 .7 1 4 0 .6 1 4 6 .1 1 6 5 .0 1 5 7 .5 1 6 6 .8 1 7 6 .3 1 9 0 .9 1 7 9 .0 1 8 0 .8 1 8 4 .7 2 0 2 .6 1 8 2 .5 1 8 6 .0 1 8 8 .0 2 0 9 .8 1 9 3 .0 2 1 4 .8 2 1 2 .1 2 3 3 .5 2 2 0 .5 2 3 7 .0 2 3 6 .0 2 6 1 .5 12.712.813.0

13.7_14.715.618.4 20.7 21.022.021.8 24.0 22.223.224.3 23.1 21.1 21.723.1 26.0 24.5 23.522.5 22.3 14.615.416.1 18.6 17.016.7 28.6 33.0 29.733.634.4 40.2 33.536.425.0 31.9 29.0 29.930.5 36.5 32.934.833.1 43.5 4.34.3 10.7 11.4 12.111.913.1 13.0

12.814.4_7.8 7.6

6.9 6.5 6.8

9.0

9.39.1 7.1 7.5

71.670.3 71.5

71.4_72.170.7 80.2 84.5 88.4100.1 108.3 120.0 119.2116.0 110.0 110.3 112.2 115.5116.9 120.0 119.5 121.8 123.7 130.3

5.05.0 5.1 5.0 4.74.6 6.4 7.0 6.3 7.07.2 9.5 9.0 7.8 7.7 7.4 6.9 6.8 7.0 10.7 11.7 10.911.2 11.8 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 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

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

Retail Deposit Analysis

–

Bank Only

66.5% 69.6% 70.1% 72.5% 71.6% 73.0%73.7%71.9% 69.9% 68.8% 68.4% 66.2%67.7%67.6% 69.8% 67.7% 69.1% 68.8% 70.0% 68.6% 69.6% 68.9% 70.2%

CASA as % of total deposits

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%2.3% 2.3%2.2%2.0%

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%1.1%1.1%1.1%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% 6.4%6.2%6.2%_5.9% 5.5% 0% 5% 10% 4 Q '1 1 4 Q '1 2 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 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% 0.5%

0.2% 0.4% 0.4% 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% 0.6%

0.7%0.7%0.7% 0.6% 0.0% 0.5% 1.0% 1.5% 2.0% 4 Q '1 1 4 Q '1 2 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

(25)

24 Consumer and Micro Are Key Retail Growth Drivers

1 11,223 1 50,647 61,870 11,223

4Q2016 Growth 4Q2017

6 3 ,3 2 3 6 6 ,8 5 1 7 3 ,3 2 4 8 1 ,0 4 6 8 4 ,6 7 5 9 1 ,5 0 4 9 6 ,2 6 8 1 0 5 ,1 9 2 1 0 8 ,4 3 4 1 1 8 ,7 8 8 1 2 3 ,8 3 3 1 3 0 ,1 5 8 1 3 1 ,8 5 7 1 4 0 ,1 8 9 1 4 6 ,7 4 4 1 5 5 ,3 3 8 1 5 8 ,1 7 3 1 6 5 ,3 0 4 1 6 7 ,4 2 9 1 7 5 ,2 1 1 1 7 3 ,7 3 9 1 8 2 ,1 9 0 1 8 5 ,3 3 5 1 9 6 ,1 9 4 1 9 6 ,9 0 9 2 0 4 ,6 2 8 2 1 1 ,1 7 3 2 2 3 ,0 9 8 28.6% 27.6% 28.3% 29.6% 29.8% 30.2% 30.9% 31.8%31.7% 31.3% 31.2% 31.8% 32.6%32.7% 33.1% 33.3% 32.7% 33.8% 33.1%33.1% 33.7%33.8% 34.9% 34.6% 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 2 0 1 1 2 Q 2 0 1 1 3 Q 2 0 1 1 4 Q 2 0 1 1 1 Q 2 0 1 2 2 Q 2 0 1 2 3 Q 2 0 1 2 4 Q 2 0 1 2 1 Q 2 0 1 3 2 Q 2 0 1 3 3 Q 2 0 1 3 4 Q 2 0 1 3 1 Q 2 0 1 4 2 Q 2 0 1 4 3 Q 2 0 1 4 4 Q 2 0 1 4 1 Q 2 0 1 5 2 Q 2 0 1 5 3 Q 2 0 1 5 4 Q 2 0 1 5 1 Q 2 0 1 6 2 Q 2 0 1 6 3 Q 2 0 1 6 4 Q 2 0 1 6 1 Q 2 0 1 7 2 Q 2 0 1 7 3 Q 2 0 1 7 4 Q 2 0 1 7

Retail to Total Loans

Micro Credit Business Banking Consumer

(Rp Bn) Business Banking

60,784 61,576

792

4Q2016 Growth 4Q2017

YoY 1.3% (Rp Bn) Micro Credit YoY 22.2% (Rp Bn) 1 84,763 99,653 14,890

4Q2016 Growth 4Q2017

YoY 17.6% Consumer

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200 300 502 687 898 994 1,084 1,078

600 800 800 878 928 1,027 1,127 1,427 1,718 1,722

10 152 480 710 760 751 706 653 612

590

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Bra

Unit

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 97,164 127,828 130,227 146,323 117,565 117,971 116,440 105,964 129,484 200,977

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 4Q1'6 1Q1'7 2Q'17 3Q'17 4Q'17

271 430 562 694 815 889 1,009 1,112 1,208 1,195 1,221 1,242 1,269

2008 2009 2010 2011 2012 2013 2014 2015 2016 1Q17 2Q17 3Q17 4Q17

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(27)

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 29,994 30,172 31,471 32,294 33,022 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 5,881 6,246 6,605 6,738 6,683 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 17,441 17,986 18,723 20,120 21,686 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 9,128 9,048 9,603 9,835 10,312 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 21,124 22,555 23,717 24,974 26,752 6 9 8 7 9 1 8 7 3 9 2 8 9 6 4 1 ,0 1 6 1 ,0 3 7 1 ,0 1 0 9 6 6 9 2 7 9 0 4 80 9 8 4 0 8 0 5 7 6 5 7 5 0 68 3 7 3 3 8 9 2 9 9 8 1 ,0 4 3 1 ,0 9 1 1 ,1 3 3 1 ,1 9 4 1 ,1 9 9 1 ,1 9 7 1 ,2 0 6 1 ,1 9 8 0 5 ,0 0 0 1 0 ,0 0 0 1 5 ,0 0 0 2 0 ,0 0 0 2 5 ,0 0 0 3 0 ,0 0 0 3 5 ,0 0 0 4 0 ,0 0 0 4 5 ,0 0 0 5 0 ,0 0 0 5 5 ,0 0 0 6 0 ,0 0 0 6 5 ,0 0 0 7 0 ,0 0 0 7 5 ,0 0 0 8 0 ,0 0 0 8 5 ,0 0 0 9 0 ,0 0 0 9 5 ,0 0 0 1 0 0 ,0 0 0 1 0 5 ,0 0 0 1 1 0 ,0 0 0 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 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 O th e r A u to C re d it C ar d s P a yr o ll Lo an s H o m e E q u ity L o an s Mo rtg a g e s

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(28)

27 Strong Growth in E-Channel Transaction

Quarterly Transaction Value (Rp Tn)

Quarterly Users (Mn)

96 122 148 154 170 179

191 193 208 210

242 245.0 237 253 238 248 271 294 294

303

2 4 4 5 7

8 11 18

28 36

39 53.0 55 69 68 84 85 93 96 108

7 14

18 23 27

29 33 33 34 47

33 36

37 35 40 37

35 35 35 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 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 14.1 14.4 15.5 16.2 17.0 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

7.3 7.4 7.4 7.5

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 2.2 2.3 2.3

0 2 4 6 8 10 12 14 16 18 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 Debit Cards Mobile Banking Internet Banking

Quarterly Transaction Volume (Mn)

142 157

184 189

212 218 233 235

246 249 268

293 295 287 309 291 306 313 343 354 365 39 36 44

41 43 41 39 44 51

53 47 48

50 46

49 45

48 46 44 46

12 18

23 26 32 31 34 57 70 113 172 196 190 254 258

295 311 304 265 249 17 42 55 78 85

67 76 81 89

117

102 117 131

138 149 156 154 140 133 135 0 25 50 75 100 125 150 175 200 225 250 275 300 325 350 375 400 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7 ATM Branch Mobile Banking* Internet Banking**

* incl. Mandiri Online Mobile App ** incl. Mandiri Online Web

(29)

126.2 200.3 258.2 31 5 .2 3 4 7 .6 4 1 4 .7 6 0 4 .3 7 1 1 .7 7 5 8 .2

166.6 196.5

285.7 318.6 38

.0 ₄90 .3 6

.4 76

5 .2 7 9 0 .0 194.5 249.3 313.9 361.8 437.5 489.2 683.3 742.7 843.4 223.7 268.5 312.8 464.4 512.9 664.8 771.0 862.6 838.6 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7

Q4 Q3 Q2 Q1

28 Retail Payment System Gaining Traction

Fee Income from e-channel Tx (Rp Bn)

4.8% YoY Growth

Volume Mandiri Business

Saving Account (Rp Tn)

8.0 17.7 34.7 59.4 85.8 102.3 108.5 120.6 137.2 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 13.8% YoY Growth

Numbers of EDC

3 3 ,7 3 2 4 7 ,1 2 7 9 2 ,9 0 3 1 8 0 ,5 3 2 2 3 0 ,3 5 2 2 7 0 ,3 5 2 2 8 6 ,8 6 1 2 3 6 ,7 1 1 2 3 9 ,3 1 2 2 3 9 ,6 7 0 2 4 7 ,8 5 9 2 5 3 ,0 4 6 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 1 Q 1 7 2 Q 1 7 3 Q 1 7 4 Q 1 7

(30)

29 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

2 0 1 .1 2 1 2 .8 2 6 1 .9 2 6 5 .4 2 7 2 .2 2 9 0 .0 3 0 6 .8 3 4 9 .9 2 9 9 .4 3 2 2 .6 3 0 8 .8 3 4 8 .1 2 6 7 .2 3 3 4 .9 3 2 2 .4 3 8 2 .1 3 4 0 .3 3 3 1 .3 3 4 4 .6 4 3 1 .4 9.2 10.6 11.4 12.6 12.8 14.1 14.5 16.1

16.0 17.4 17.1

18.4 20.2 20.2 19.0 20.4 20.3 19.4 19.9 22.6 -5.0 10.0 15.0 20.0 25.0 -50.0 100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

# of Volume ('000) # of Transactions (Mn)

# MIB Transaction Value & Users

# SME Business w/ Mandiri Acc

5 4 3 ,9 7 2 6 4 3 ,3 3 4 7 8 9 ,3 0 0 8 4 5 ,0 7 3 8 5 1 ,0 6 9 8 5 3 ,3 6 9

2012 2013 2014 2015 2016 2017

1 8 ,5 2 8 2 5 ,8 5 7 3 2 ,2 7 3 4 2 ,5 8 2 4 7 ,3 0 4 5 3 ,1 2 4 5 7 ,4 4 7 7 3 ,6 6 6 7 9 ,9 7 0 8 8 ,0 1 3 7 9 ,1 7 3 8 9 ,3 8 9 8 9 ,9 0 6 1 1 8 ,3 8 9 1 0 5 ,7 8 1 1 2 6 ,8 5 7 1 2 6 ,5 4 5 1 3 5 ,2 6 7 1 4 9 ,2 9 4 1 8 7 ,6 1 7 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 37,059

39,025 40,346

43,080 44,807

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 4Q '16 1Q '17 2Q '17 3Q '17 4Q '17

(31)

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(32)

31 Non-Performing Loans by Segment

Movement by Customer Segment (Rp Bn)

Non-Performing Loan Movements (Rp Tn)

–

Bank-Only

* Excluding loans to other banks

Q4 2017 Total NPLs of Rp 22.23 Tn

22.66

0.74 _4.51

0.85

3.67

0.31 _22.23

3Q' 2017 UG to PL DG to NPL Payment Write-Offs Other 4Q' 2017

43 511

2,566

1,959

1,012

755

418

256

125

475

696

0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000

UG to PL DG to NPL W/O

Corp Comm Small Micro Cons

NPLs

3Q

r

NPLs

(Rp tn)

(%)

Corporate

0.99

0.05 0.37%

Commercial

15.60 (0.41)

10.01%

Small

2.33

0.08 3.79%

Micro

1.38 (0.05)

2.22%

Consumer

1.94 (0.09)

1.94%

(33)

32 Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

_{4Q 2017 Details}

Loan

Background

Q

Balance

(Rp Bn)

4Q

2015

1Q

2016

2Q

2016

3Q

2016

4Q

2016

1Q

2017

2Q

2017

3Q

2017

4Q

2017

DG to

NPL

%

UG to

PL

%

Corporate

260,631

0.24

0.13

0.24 -

0.32

0.14

0.43 -

0.02 -Commercial

151,072

0.77

1.97

3.02

0.16

3.87

1.13

1.07

0.14

1.33

1.67

0.34 Small

59,561

0.54

1.31

1.50

1.36

0.63

1.20

1.65

1.23

1.55

1.63

0.08 Micro

61,850

1.08

1.37

1.45

1.35

0.84

0.94

1.09

0.86

0.60

0.68

0.08 Consumer

99,559

0.17

0.32

0.21

0.30

0.17

0.37

0.39

0.47

0.35

0.48

0.13 Total

632,672

0.31

0.94

1.28

0.35

1.36

0.49

0.42

0.31

0.58

0.70

0.12 4Q17 Net Downgrades of 0.58% On Loans Originated since

2005

(34)

33 Restructured Loans

1 7 .1 1 4 .3 1 3 .1 1 3 .6 1 3 .5 1 3 .5 1 4 .2 1 3 .9 1 4 .0 1 1 .7 1 1 .7 1 2 .0 1 2 .5 1 2 .7 1 1 .2 1 1 .5 1 0 .2 1 1 .8 1 4 .4 2 0 .9 2 6 .4 2 8 .9 2 8 .3 3 4 .1 3 9 .3 4 7 .2 4 7 .3 4 8 .8 4 9 .9 5 2 .1 0.0 10.0 20.0 30.0 40.0 50.0 60.0 4 Q '0 9 4 Q '1 0 1 Q '1 1 2 Q '1 1 3 Q '1 1 4 Q '1 1 1 Q '1 2 2 Q '1 2 3 Q '1 2 4 Q '1 2 1 Q '1 3 2 Q '1 3 3 Q '1 3 4 Q '1 3 1 Q '1 4 2 Q '1 4 3 Q '1 4 4 Q '1 4 1 Q '1 5 2 Q '1 5 3 Q '1 5 4 Q '1 5 1 Q '1 6 2 Q '1 6 3 Q '1 6 4 Q '1 6 1 Q '1 7 2 Q '1 7 3 Q '1 7 4 Q '1 7

Restructured Loans at Rp 52.1 Trillion

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% 33.0% 33.7% 31.1% 29.6% 27.8% 0.8% 0.2% 3.9% 0.2% 5.5%5.7% 1.6% 3.4% 11.7% 2.3% 13.9% 4.4% 3.6% 1.1% 3.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 2 Q 1 4 3 Q 1 4 4 Q 1 4 1 Q 1 5 2 Q 1 5 3 Q 1 5 4 Q 1 5 1 Q 1 6 2 Q 1 6 3 Q 1 6 4 Q 1 6 1 Q 1 7 2 Q 1 7 3 Q 1 7 4 Q 1 7

% NPL in Restructured Loan % DG to NPL After Being Restructured *excl. Credit Cards

(35)

34 Enhancing Synergies & Value from Subsidiaries

Total Assets Rp 87.8 Tn

Bond Trading Volume Rp96 Tn

Total Assets Rp 30 Tn

Total Loans Rp 10.5 Tn

Total Disbursement Rp 22.2 Tn

Total Financing Rp 60.7 Tn

Equity & FI Underwriting Rp 45 Tn

Annual FYP

Rp 3.3 Tn

Net Interest Margin 6.6%

Net Interest Margin 2.9%

Total Deposits Rp 78 Tn

Equity Trading Volume Rp 173 Tn

ROA 3.7%

ROA 2.0%

ROA 3.7% ROE

5.7%

ROE 8.6%

ROE 52.2%

ROE 13.4%

ROE 22.1%

•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

(36)

A

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3

5

90 245 235 171 183 237 255 258 234 262 259 298 270 269 256 348 297 316 308 360 274 247 387 331 280 262 429 300 277 186 243 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 4Q '16 1Q '17 2Q '17 3Q '17 4Q '17 N e t P ro fi t A ft e r Ta x ( R p B n ) A n n u a l Fi rs t Ye a r P re m iu m ( A F Y P ) (Rp B n ) # o f P o li cy H o ld e rs ( 0 0 0 ) 820 742 769 946 796 892 712 667 695 850 726 774 611 832 874 648 648 816 719 893 760 668 591 1,046 756 746 861 973 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 4Q '16 1Q '17 2Q '17 3Q '17 4Q '17 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 3,939 4,101 3,930 3,871 3,883 3,838 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 4Q '16 1Q '17 2Q'17 3Q'17 4Q'17 (7 .1 % ) Y o Y (4 3 .4 % ) Y o Y (6 .4 )% Y o Y

(37)

36 Ba k Ma di i s

2017 Corporate Guidance

2017 Target

2017 Realization

2018 Target

Gross Loan Growth (YoY)

9.0% - 11.0%

10.2%

11.0% - 13.0%

Low Cost Deposits

Rp 537.0 Tn

Rp 540.3 Tn

Rp 590 Tn

Net Interest Margins

5.7% - 5.8%

5.87%

5.7% - 5.8%

Efficiency Ratio

43.0%

45.4%

<45.0%

Gross NPLs

3.5% - 4.0%

3.46%

2.8% - 3.2%

Cost of Credit

2.5% - 2.7%

2.29%

2.0% - 2.2%

# of New ATMs

197

305

900 # of New EDCs

10,000

16,335

20,000

# of New Micro Network

34 -

9

(38)

37

Operating Performance

Highlights

(39)

38 Corporate Banking, Government & Institutions

Performance to Date: FY2017 (Rp Bn)

_{Strategies for 2018}

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

5,026

4,351

2,547 753

11,170 650

(40)

39 1. Implement client segmentation

strategy for Treasury anchor and

non-anchor clients.

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: FY2017 (Rp Bn)

_{Strategies for 2018}

5,052

4,918 599

(41)

Commercial Banking

40 1.Tighten risk management practices by

centralizing big ticket loan approval from

regional office to head office

2.Focusing on clients within the value

chain / business ecosystem of our

corporate banking clients

3.Selectively growing the business to

sectors and regions as stipulated in

bank-wide portfolio guidance

Performance to Date: FY2017 (Rp Bn)

_{Strategies for 2018}

4,230

2,318

1,129 521

7,156

6,243

(42)

41 Commercial Banking

* Business Savings Product

Solid & Stable Source of

Low Cost Funds

Product 4Q

2017 4Q

2016 Growth

Demand

Deposit 37.17 40.44 -8.09%

Rupiah 28.20 26.39 6.86%

FX 8.97 14.04 - 36.11%

Saving

Deposit* 11.73 8.14 44.10%

Total CASA 48.90 48.58 0.66%

Total Funding 68.15 66.35 2.71%

CASA Ratio = 71.75%

Funding from Java & Bali = 71.9% of total funding

Expanding Scope of Distribution, 4Q 2017

Sumatera Loans = Rp 18.0 tn Funds = Rp12.1 tn

Kalimantan Loans = Rp 5.1 tn Funds = Rp 4.5 tn

Eastern Loans = Rp 3.1 tn Funds = Rp 2.5 tn

Java and Bali Loans = Rp 129.6 tn

(43)

42 Micro & Business Banking:

Selectively growing our high margin business

Performance to Date: FY2017 (Rp Bn)

_{Strategies for 2018}

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 loyalty a d

balances.

6,569

8,077

2,834

3,715

13,765

5,120

(44)

43 Business Banking :

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 Class that covered SME Customers

A.1 : 37 B.2 : 68

A.2 : 46 B.3 : 71

B.1 : 37 B.4 : 16

Scope of Distribution, 4Q 2017

Solid & Stable Source of

_{Low Cost Funds*}

Product 4Q 2017

4Q 2016

Growth YoY

Demand

Deposit 48.0 42.7 12.4%

Saving

Deposit 90.8 77.9 16.6%

Total CASA 138.8 120.6 15.2%

Total

Funding 163.7 139.9 17.0%

Rp Tn

CASA Ratio = 84.8%

Funding from Java & Bali = 76.5% of total funding

Sumatera Loans = Rp 12.6 tn Funds = Rp 20.6 tn

Kalimantan Loans = Rp 9.4 tn Funds = Rp 7.4 tn

Eastern Loans = Rp 7.97 tn Funds = Rp 10.4 tn

Java and Bali Loans = Rp 31.6 tn Funds = Rp 125.2 tn

(45)

44 Consumer Banking:

Significant growth in spread and fee income

1. Mortgage package

2. Mortgage priority

3. Mortgage for depositors

4. Instant approval for mortgage

5. Selco Xtra payroll loan

6. SOE synergy for payroll loan

7. Regular top up for payroll loan

8. Cross-sell payroll loan

9. Regular auto loan through branch referral

10. Improving the quality of new card holders

acquisition

11. Raise the limit of credit card

12. Usage program with strategic partner

13. Mandiri

Bonus

Program

(Bonus

Untung, Bonus Max, Bonus Plus, etc)

14. Regional marketing program for savings

15. Special program for drop fund depositors

16. Bundling program

17. Internal branch contest for saving

Performance to Date: FY2017 (Rp Bn)

_{Strategies for 2018}

4,025

9,785

5,097 1,405

17,502

2,474

(46)

45 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 6,892 healthcare providers and recorded over Rp 1,411 Bn in claims year to date 2017

• 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 1,678 Bn in 2017 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 1.4 Mn InHealth members.

5,501

6,242 6,314 6,262 6,094 6,189

7,072 7,018 6,892

-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 1,600,000

2009 2010 2011 2012 2013 2014 2015 2016 2017

Total Member # of Providers

36 78 47 107 120 203 155 164 170

203

811

1,073 1,203

1,410 _1,400 1,432 1,620

1,858

0 50 100 150 200 250

-200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000

2009 2010 2011 2012 2013 2014 2015 2016 2017

(1)

9

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2.1% 2.8% 3.0% 3.5% 3.8% 4.1% 5.1% 5.2% 5.2% 5.8% BCA Mandiri BNI BRI Danamon CIMB Niaga Permata Panin Maybank BTN 82.5% 74.1% 73.9% 70.8% 70.6% 70.4% 69.8% 68.6% 66.4% 64.2% BTN CIMB Niaga Maybank Danamon BRI Mandiri BNI Panin Permata BCA 74.5% 66.8% 61.0% 57.0% 55.3% 51.2% 48.2% 47.6% 40.1% 37.7% BCA Mandiri BNI BRI CIMB Niaga BTN Danamon Permata Maybank Panin 993,101 940,665 725,518 622,942 249,301 231,935 195,374 156,614 150,385 148,593 BRI Mandiri BCA BNI CIMB Niaga BTN Panin Maybank Permata Danamon

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10.6% 9.6% 8.9% 8.7% 8.5% 8.4% 8.1% 8.0% 7.6% 7.6% BRI Danamon BTN Panin CIMB Niaga Maybank BNI Mandiri BCA Permata

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735,147 678,972 574,471 453,488 170,546 153,408 136,680 105,490 97,916 96,919 BRI Mandiri BCA BNI CIMB Niaga BTN Panin Maybank Permata Danamon

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A ve rag e

(2)

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40.9% 41.3% 42.6% 43.6% 45.0% 45.6% 45.9% 53.3% 59.5% 61.7% BRI Mandiri BNI Danamon BCA CIMB Niaga Panin Permata Maybank BTN 816 603 402 388 197 193 173 165 100 94 BNI BCA BRI Mandiri BTN Danamon Maybank CIMB Niaga Panin Permata 21,445 18,612 17,690 15,486 15,078 13,216 13,138 12,143 11,472 3,206 BCA BNI Mandiri Maybank BTN Permata CIMB Niaga BRI Panin Danamon 18,135 16,421 16,353 15,971 15,786 13,499 12,482 10,976 10,463 3,122 BTN BCA BNI Maybank Mandiri CIMB Niaga Permata BRI Panin Danamon

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1497 1002 972 802 507 470 442 442 244 242 BCA BNI Mandiri BRI BTN Maybank Panin CIMB Niaga Danamon Permata

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2.8% 3.0% 4.1% 4.1% 4.1% 4.4% 5.2% 5.3% 5.5% 5.8% Panin BTN BNI BCA Maybank Mandiri CIMB Niaga Danamon Permata BRI

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* A n n u a li ze d A ve rag e

(3)

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19.3% 19.1% 16.3% 15.9% 14.7% 11.5% 10.0% 9.3% 8.8% 6.2% BRI BCA BTN BNI Mandiri Danamon Maybank Panin CIMB Niaga Permata 2,617 2,102 2,067 1,225 1,100 903 635 562 490 414 Mandiri BNI BRI BCA Danamon BTN Permata Panin CIMB Niaga Maybank 8.1% 7.1% 6.2% 5.6% 5.6% 5.5% 4.5% 4.5% 4.5% 3.9% BRI Danamon BCA Mandiri CIMB Niaga BNI Maybank BTN Panin Permata 60,542 38,382 30,226 26,788 24,366 12,981 11,914 10,174 7,409 6,812 BRI Mandiri Danamon BCA BNI CIMB Niaga Panin BTN Permata Maybank

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3.8% 3.3% 2.8% 2.7% 2.7% 1.8% 1.6% 1.6% 1.4% 0.8% BCA BRI BNI Danamon Mandiri Panin CIMB Niaga BTN Maybank Permata

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A

T

Ms

A ve rag e

(4)

Notes

………..

(5)

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 Henry Wibowo 62 21 250 5081 ext. 3622 Henry.wibowo@bahana.co.id

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

BCA SEKURITAS Gilang Purnama - Gilang.purnama@bcasekuritas.co.id

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 Helmy Kristanto 62 21 29555 777 ext. 3510 Helmyk@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) Melissa Kuang 65 6889 2869 melissa.kuang@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 Jayden Vantarakis 62 21 2598 8310 Jayden.vantarakis@macquarie.com

MIRAE ASSET SEKURITAS Taye Shim 62 21 515 3281 taye.shim@miraeasset.com

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

NOMURA Marcus Chua 65 9646 3168 Marcus.chua@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

(6)

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

2017Q4 Analysts Meeting—2

PT Bank Mandiri (Persero) Tbk

FY 2017

Results Presentation

Share Price Performance and Information

2

Table of Contents



























Corporate Plan

– Ba k Ma di i s

2020 Initiatives

Accelerate in Growth

Segments

Integrate The Group

Deepen Client

Relationship

I do esia s

Top Financial Institution:

Current Achievements (FY2017)

Current Achievements (FY2017)

Current Achievements (FY2017)

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.

Strategic Initiatives

Description

5

Our Portfolio Mix Would Be More Retail-Focused

41%

40%

24%

20%

10%

9%

10%

12%

15%

19%

2017

2020

Consumer

Micro

Business Banking

Assets Composition Mix

Commercial

_19%