2014Q2 Analysts Meeting 82014

PT Bank Mandiri (Persero) Tbk

1H 2014

Results Presentation

Share Information

∆ fro : IPO Dec 31, 2013 BMRI + 1,364.61% +23.89%

JCI + 829.81% +14.14%

No. of Investor % No. of shares %

I DOMESTIC

1. Government of RI 1 0.01% 14,000,000,000 60.00% 2. Retail 12,222 73.91% 196,329,370 0.84% 3. Employees 2,187 13.23% 39,964,218 0.17% 4. Cooperatives 4 0.02% 49,056 0.00% 5. Foundation 26 0.16% 17,215,928 0.07% 6. Pension Funds 160 0.97% 189,940,720 0.81% 7. Insurance 60 0.36% 444,380,036 1.90% 8. Banks - 0.00% - 0.00% 9. Corporations 121 0.73% 243,864,494 1.05% 10. Mutual Funds 185 1.12% 652,833,257 2.80%

Total 14,966 90.51% 15,784,577,079 67.65% II INTERNATIONAL

1. Retail 81 0.49% 1,409,180 0.01% 2. Institutional 1,489 9.00% 7,547,347,074 32.35%

Total 1,570 9.49% 7,548,756,254 32.35% III TOTAL

No. Description

By 30 June 2014

16,536

2

Table of Contents

Results Overview Page #



I do esia s E o o i Co ditio 3



1H 2014 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 Transactions 19-21



Retail Value Chain & High-Yield Lending Activities 22-29



NPL Movement 30-33



Subsidiaries 34-36



Targets & Initiatives 37

Early Signs of Economic Condition Improving, Risks Remain

Source: BPS, Bloomberg

3

Trade balance back to surplus at USD70 mn In May 2014

I t l ese es i p o ed to U“D

107.7 bn, June 2014

6 8 10 12 14 16 18 20

Ja

n-10

A

pr

-1

0

Ju

l-10

O

ct

-1

0

Ja

n-11

A

pr

-1

1

Ju

l-11

O

ct

-1

1

Ja

n-12

A

pr

-1

2

Ju

l-12

O

ct

-1

2

Ja

n-13

A

pr

-1

3

Ju

l-13

O

ct

-1

3

Ja

n-14

A

pr

-1

4

-3 -2 -1 0 1 2 3 4

Trade Balance - RHS Export - LHS

Import - LHS

Cash Management

•

13,437 Customers

•

18.7 Mn Tx YTD

2014

(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 140.2 Tn

•

32.6% of Loans

•

High yield loan

amounting Rp 91.2 Tn

Subsidiary Income

•

Total Rp 1.02 Tn

•

Sum of income from

6 subsidiaries

(10.6 % of EAT)

Alliances (total)

•

Alliance Payroll

Accounts: 1.25 Mn

e-Channel Tx

•

766.0 Mn YTD

•

17.9% Growth

# of Cards Issued

•

Credit 3.44 Mn

•

Debit 11.65 Mn

•

Prepaid 4.01 Mn

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

# of Accounts

•

Deposit 15.02 Mn

•

Loan 1.43 Mn

including mortgage

account of 171,078

# of new Accounts (YTD)

•

Deposit 2.34 Mn

•

Loan 381,058

Key Financial Highlights

Ba k Ma di i s

1H2014 Performance is in line with our guidance across

several key indicators:

1H

1H



%

Loans

Rp428.7tn

Rp485.8tn

13.3%

Net NPL Ratio

Gross NPL Ratio

0.47%

1.89%

0.81%

2.23%

72.3%

18.0%

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

63.6%

Rp319.6tn

62.2%

Rp345.6tn

(2.2%)

8.1%

NIM

5.34%

5.74%

7.5%

Efficiency Ratio

42.1%

42.5%

1.0%

Earnings After Tax

Rp8,294bn

Rp9,585 bn

15.6%

Balanced Earnings from All Business Units

20.83%

16.58%

31.95%

18.15%

3.77%

5.79%

29.59%

52.46%

13.86%

7.02%

6.89%

7.31%

15.05%

10.83%

33.58%

34.52%

35.23%

36.33%

9.24%

11.02%

NII (Net Interest Income)

(Rp bn) % of Total

Fee Income

(Rp bn) % of Total

Asset Spread

(Rp bn) % of Total

Liabilities Spread

(Rp bn)

2,584

3,964

468

3,671

1,719 2,814

3,080

983

8,902

1,191

Corporate + Institutional

Comm & Business Banking

Treasury, FI & SAM*

Micro & Retail

Consumer Finance

2Q '12 2Q '14

2,057

3,603

365

1,415

1,712 1,729

2,774

836

1,763

1,176

2Q '12 2Q '14

527

360

102

2,256

8 1,084

307

148

7,140

16

2Q '12 2Q '14

22.48%

20.89%

39.37%

33.51%

3.99%

10.10%

15.46%

21.30%

18.71%

14.21%

395

863

1,925

2,020

530 1,082

689

1,307

2,311

701

2Q '12 2Q '14

7

*Rp 889Bn from SAM recoveries on W/O loans

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

9.9 10.811.6

11.6 12.3 12.712.2

12.0 13.413.6 14.0

15.3 15.8 16.819.0 20.7 22.1 23.2 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

22.023.1 22.9

22.2 25.422.3 24.0

25.328.2 28.028.5 36.1 33.3 38.5 49.2 51.1 43.5 45.0 124 .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

11.811.7 11.1

12.5 10.3 12.415.3 17.8 15.620.3 20.4 16.1 24.0 29.028.2 20.1 20.0 20.5 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 1 Q' 10 2 Q' 10 3 Q' 10 4 Q' 10 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4Q '12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14

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 .7 124 .3 130 .9 138 .8 131 .8 129 .8

0.2 0.4 1.3 1.4 1.6

1.5 1.7 1.4

1.3 1.5 1.6 1.8 1.6 1.5

1.7 2.0 2.3 1.3

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 24.726.7 28.630.732.4 34.336.3 39.040.7 43.344.5 47.749.352.455.2 56.6_57.460.3 17.719.3

20.522.7 23.3 25.8

27.630.2 30.9

33.135.0

38.4 38.4 42.5 43.7 46.5 46.3 49.0 5.6 6.0 6.5 7.3 7.7 8.5 9.5 11.813.1 15.116.8

19.0 20.723.9

24.927.0 28.2 31.0 9.7 9.1 8.6 7.8 6.7 6.1 6.1 4.6 4.8 4.8 4.9

4.0 3.9 3.9 4.2

4.2 3.9 3.9 22.6 24.3 25.029.031.5 20.4 22.724.6 27.230.3 34.2 38.4 40.540.9 43.646.0 48.950.9 53.5 54.9 55.555.355.5 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' 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 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 Subsidiaries Inst SAM Micro

Small Cons

Comm Int'l

Corp

Maintaining Momentum for Growth

Y-o-Y  (29.4%) 23.6% 17.0% (0.4%) 7.0% Y-o-Y  1.6% 29.8% 15.3%

Loans by SBU + Subsidiaries

(Rp Tn)

18.7%

4.4%

Deposits by Product

–

Consolidated

(Rp Tn)

*Previously booked in Corporate Banking

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

 Total Wholesales Fees Rp2.3Tn1)

 Total Wholesale Low Cost Deposits Rp139.2Tn

 Growth of Tx cash management 67.5% YoY2)

 Total Retail Fees of Rp3.3 Tn1)

 Total Retail Low Cost Funds Rp248.3Tn

 YoY increase in # of E-channel transaction: 17.9%

 Total Retail Loans of Rp140.2 Tn

 Assets Spread Rp3.9 Tn

 32.6% of total loans

Pillar 1

Pillar 2

Pillar 3

1) Fee-Based Provision, Commission & Fee 2) Excluding Mandiri Transaction System

Good Progress On Our 3 Strategic Priorities:

Wholesale Transactions, Retail Payments & High Yield Loans

9

Strengthen leadership in wholesale

transaction banking

 Comprehensive financing & transaction solutions

 Holistic relationship approach for leading Indonesian institutions

Build #1 or #2 positions in key retail

financing segments

 Win in mortgage, personal loan & cards

 Become a major player in micro-banking

 Champion Syariah in Indonesia

Be the retail deposit bank of choice

 Win through differentiated customer experience and targeted propositions

Strong and Liquid Balance Sheet

Assets *

1H 2014

1H 2013

Liabilities

1H 2014

1H 2013

Cash

16,347

12,248

Current Account

119,470

113,016

Current Acc w/ BI & Other Banks

57,174

51,618

Savings

226,153

206,573

Placement w/ BI & Other banks

49,111

47,593

Time Deposits

210,297

182,781

Advances (Other)

24,422

16,217

Marketable Securities

34,315

15,866

Total Deposits

555,920

502,370

Government Bonds

88,969

79,627

Loans (Gross)

485,844

428,686

Securities Issued

2,015

1,812

Provisions of Loans

(17,459)

(15,123)

Deposits from other banks

34,376

23,714

Net Loans

468,385

413,564

Borrowings

15,951

11,587

Reverse Repo

2,716

1,955

Other Int. Bearing

Liabilities

11,702

9,371

Other Provisions

(2,028)

(1,688)

Non Int. Bearing Liabilities

51,012

43,858

Deferred Tax Assets

3,381

3,316

Equity incl. Minority

Interest

93,960

79,462

Other Assets

22,146

31,857

Total

764,938

672,173

Total

764,938

672,173

(Rp Bn, Consolidated)

10

*Investments include policyholders of unit linked and Investments in shares has been reclassified to cash, government bonds,

Strong Revenue Growth

11

Summary P&L

Q2 2014

(Rp Bn)

Q1 2014

(Rp Bn)

Q2 2013

(Rp Bn)

H1 2014

Rp (Bn)

H1 2013

Rp (Bn)

Y-o-Y

∆ ℅

Q-o-Q

∆ ℅

Interest Income

14,978

14,313

11,713

29,291

23,114

27.9%

4.6%

Interest Expense

5,855

5,333

4,030

11,188

7,977

45.3%

9.8%

Net Interest Income

9,123

8,980

7,682

18,103

15,138

18.8%

1.6%

Net Premium Income

675

584

713

1,260

1,323

(5.3%)

15.6%

Net Interest Income & Premium Income

9,798

9,564

8,395

19,363

16,461

16.7%

2.4%

Other Non Interest Income

* Other Fees and Commissions

2,212

2,130

2,105

4,342

3,966

5.1%

3.9%

* Foreign Exchange Gains - Net

380

404

398

784

624

(4.7%)

(6.1%)

* Gain fr. sale & Incr. in Val & Sale of Bonds

41

158

(115)

199

(70)

n/a

n/a

* Others

1,112

835

864

1,947

2,004

28.6%

33.1%

Total Non Interest Income

3,745

3,528

3,252

7,273

6,525

15.2%

6.2%

Total Operating Income

13,543

13,092

11,647

26,635

22,986

16.3%

3.4%

Provisions, Net

(1,624)

(1,217)

(1,422)

(2,841)

(2,511)

14.2%

33.4%

Personnel Expenses

(2,662)

(2,626)

(2,336)

(5,289)

(4,378)

13.9%

1.4%

G&A Expenses

(2,693)

(2,309)

(2,322)

(5,002)

(4,356)

16.0%

16.6%

Loss from decr. in value of Sec & Gov Bonds

n/a

n/a

Other Expenses

(475)

(476)

(409)

(951)

(975)

16.2%

(0.2%)

Total Expense

(5,830)

(5,411)

(5,067)

(11,242)

(9,709)

15.1%

7.7%

Profit from Operations

6,089

6,463

5,158

12,552

10,766

18.0%

(5.8%)

Non Operating Income

10

(4)

69

5

112

n/a

n/a

Net Income Before Tax

6,098

6,459

5,227

12,557

10,877

16.7%

(5.6%)

LDR Increased to 87.0%, Bank-Only Loan Growth of 14.7%

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 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% 1 Q '09 2 Q '09 3 Q '09 4 Q '09 1 Q '10 2 Q '10 3 Q '10 4 Q' 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 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14

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% 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% 1 Q '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 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

QoQ Growth (%) YoY Growth (%)

Quarterly Loan Data

(Consolidated)

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 42 .6 43 .6 45 .3 50 .6 50

.4 _54.2 58

.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 14.415.816.6 17.418.019.7 20.722.824.5 25.9 27.730.3 30.9 33.235.138.5 38.5 42.5 44.1 46.5 46.3 49.0

4.6 4.85.1

5.4 5.66.0

6.57.3 7.7 8.5 9.511.8 13.1 15.116.8 19.020.7 23.9 24.9 27.0 28.2 31.0 19.720.621.7 23.624.8 26.728.6 30.732.4 34.3 36.3 39.040.7 43.344.5 47.749.3 52.4 55.2 56.6 57.4 60.3 1 Q' 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 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

Corporate Commercial Small Micro Consumer

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y

14.9% 29.8% 15.2% 18.6% 9.4% 14.7% Total 14.0% 7.2% 11.4% 28.8% 38.6% Break down

As of Jun 2014; Non-consolidated numbers

34 .56 35 .24 37 .83 36 .49 35 .64 31 .15 29 .19 29 .75 30 .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 53 .29 59 .79 67 .75 62 .22 62.95 104.5% 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% 50% 60% 70% 80% 90% 100% 110% 120% Mar 08 Ju n e 08 Sep 08 De c 08 Mar 09 Ju n e 09 Sep 09 De c 09 Mar 10 Ju n e 10 Sep 10 De c 10 Mar 11 Ju n e 11 Sep 11 De c 11 Mar 12 Ju n 12 Sep 12 De c 12 Mar 13 Ju n 13 Sep 13 De c 13 Mar 14 Ju n e 14 20 25 30 35 40 45 50 55 60 65 70

Loan Fx

LDR FX

Prudent Management of FX Balance Sheet

USD Billion

Rp Trillion (Bank Only)

Breakdown of FX lending (Bank Only)

2

Q

14 (Total USD 5.540 Bn)

0.00 0.10 0.21 0.21 0.29 0.35 0.36 0.66 0.67 0.99 1.46

Soc Serv

Constr

Utilities

Bus Serv

Trans

Oth

Agri

Trading

Mining

Oil & Gas

Mfg



% (YoY)

10% -33% -1% 19% -2% 642% -10% -14% -9% 2% -72%

FX Loans & LDR

415.15

73.96

23.11

30.05 _7.57 2.72

0.72

430.38

1Q'14 Disburs. Install. Payment Pay-off FX

Impact

Write-Offs

2Q '14

32.78

20.75

6.99

8.16

5.29

73.96

Corporate Commercial Small Micro Cons Fin Total

Rp73.96 tn in Loans Disbursed in 2Q 2014

Loan Movement (Rp tn) –Bank Only Q2 (2014) Loan Disbursement by Segment in Q2(Rp tn) –Bank Only

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

504

.8

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

81

.0

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

RWA (Rp tn) Total Capital (Rp tn)

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% 16.0%

CAR*

308 1,168 1,549 1,744

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

2,681 3,4034,303 4,925

1,300

602 690 1,329

97 305

1,1131,221 1,526 2,031

2,543 3,744 3,991

4,660

967 1,017

1,528 1,408

610 372 1,040

1,345 1,693

2,352 2,850

3,972 4,509

645 799 819

775

-623 1,234

1,166 1,390

2,536 2,833

3,073 4,385

5,401

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

Q4 PAT Q3 PAT Q2 PAT Q1 PAT IDR bn

21.2% 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%

21.2%

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

• CAR under BASEL III in December 2013 was 16.7%

15

1,099*

4

.3

%

3

.6

%

4

.9

%

4

.7

%

5

.1

%

5.5% 6

.0

%

5

.4

%

5

.5

%

5

.3

%

4

.9

%

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

%

4 Q '04 4 Q '05 4 Q '06 4 Q '07 1 Q '08 2 Q '08 3 Q '08 4Q '08 1 Q '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 2 Q' 12 3 Q' 12

4Q'12 1_Q'

13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14 NIM 8.9% 11.0% 9.2% 10.5% 9.9% 9.4% 8.7% 9.0% 8.7% 8.2% 8.1% 8.4% 8.2% 8.1% 7.8% 8.3% 9.0% 9.1% 9.2% 4.8% 7.3% 6.4% 4.5% 4.3% 4.2% 5.5% 4.8%

4.0% 3.8% 3.7%

3.2% 2.8%2.7% 2.7% 2.8% 2.6% 2.8% 3.1%3.3% 3.5%

Yield on Assets Cost of Funds

Q2 NIM of 5.9% as Yield on Assets Rises 10bps

Quarterly Net Interest Margins

Quarterly Yields & Costs by Currency

6.6% 5.8% 5.8% 6.8% 6.5% 6.6% 5.8% 6.4% 5.2% 5.2% 5.0% 7.2% 5.1% 4.9% 4.7% 5.3% 4.8% 5.4% 5.0%4.9%

4.8%4.5%4.5% 5.1% 4.4% 4.5% 3.4% 2.7% 2.6%3.0% 2.7% 2.3% 2.1% 1.5% 0.8% 0.7% 0.8% 0.7% 0.5% 0.3% 0.5% 0.6%0.6% 0.6% 0.7% 0.7% 0.7% 0.6% 0.6% 0.7% 0.8% 0.7% 0% 5% 1 Q '08 2 Q '08 3 Q '08 4 Q '08 1 Q '09 2 Q '09 3 Q '09 4 Q '09 1 Q '10 2Q '10 3 Q '10 4 Q' 10 1 Q' 11 2 Q' 11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2Q'14 11.2% 11.1% 12.1% 12.9%12.9% 12.8%

12.6% 12.2%_13.1% 12.7% 12.5% 11.8% 12.1% 11.9% 12.5% 11.4% 11.6% 11.8% 11.3% 11.2% 10.8% 11.1% 11.8% 11.8% 12.0% 7.9%8.0%

10.3%10.6%_8.5% 7.2% 6.7%

6.8%

6.2% 6.5% 6.5%

4.9% 3.9%

3.3% 4.0% 3.9%

4.7%5.3%5.4% 5.9% 4.5% 4.0% 4.6% 5.8%5.9% 5.3% 5.1% 4.7% 4.4% 4.3% 4.2% 4.1% 4.2% 3.1%

3.0% 3.1% 3.3% 3.7% 3.9% 4.1% 0% 5% 10% 15% 20%

Avg Loan Yield Avg Bond Yield Avg COF

IDR

FX

…i to Fee

-based Income

Breakdown of 2Q 2014 Non-Loan Related Fees & Commissions (Rp Bn)

17

Non-Loan Related Fees & Commissions

2Q-2014

1Q-2014

2Q-2013

Y-o-Y

Q-o-Q

Δ

%

Δ

%

Administration Fees

657

644

613

7.2%

1.9%

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

218

230

182

19.7%

(5.2%)

Subsidiaries

376

379

470

(20.0%)

(0.8%)

Transfer, Retail Transaction

381

334

309

23.3%

14.3%

Credit Cards

352

291

277

26.9%

20.8%

Mutual Fund, ORI & Bancassurance

88

86

92

(4.8%)

2.1%

Syndications

28

24

28

(2.2%)

14.1%

Payroll Package

18

17

19

(4.3%)

4.0%

Others

95

124

113

(16.6%)

(23.8%)

Total Non Loan Related Fees & Commissions (Core)

2,212

2,130

2,105

5.1%

3.9%

Foreign Exchange Gains

380

404

398

(4.7%)

(6.1%)

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

41

158

(115)

(135.6%)

(73.9%)

Cash Recoveries

761

526

659

15.5%

44.6%

Others

351

309

206

70.6%

13.5%

Total Fee Based Income (As Reported)

3,745

3,528

3,252

15.2%

6.2%

Total Operating Income

13,543

13,092

11,647

16.3%

3.4%

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

1,1

16

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

2,0

42

2

,336 2,679

2

,374

2

,626

2

,662

1

Q

'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

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

G&A Expenses Personnel Expenses

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% 44.6%

41.8% 43.2%

CIR (%)

Q2 Cost to Income Ratio of 43.18 %

Breakdown of 2Q 2014 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

18

2Q 2014 1Q 2014 2Q 2013

Growth (%)

QoQ YoY

Personnel Expenses

Base Salary 682 688 613 (0.9%) 11.3%

Other Allowances 1,304 1,234 1,100 5.7% 18.6% Post Empl. Benefits 62 100 47 (38.2%) 32.7%

Training 66 78 90 (15.7%) (26.8%)

Subsidiaries 549 527 488 4.2% 12.4%

Total Personnel Expenses 2,662 2,626 2,336 1.4% 13.9% G&A Expenses

IT & telecoms 365 330 284 10.4% 28.4% Occupancy Related 576 444 506 29.7% 13.9% Promo & Sponsor 215 206 228 4.2% (5.9%) Transport & Travel 166 125 133 32.9% 25.5% Goods, Prof. Svcs. & Oth. 350 311 282 12.3% 24.2%

Employee Related 476 365 375 30.5% 26.7%

Subsidiaries 545 527 514 3.5% 6.0%

Total G&A Expenses 2,693 2,309 2,322 16.6% 16.0%

Other Expenses 475 476 409 (0.2%) 16.2%

Breakdown of Net Expansion in Corporate Lending

Q2 14

–

Q2 13 (Total Rp14.33 tn)

Rp Billion

-2,932

436 521 788 915 1,084 1,578 1,679 1,698 2,607 2,607 3,347

Oth Mining-Coal Warehousing Mining-Metal Ore Trad-Dom Trad-Distr Mfg-Metal Plantations Electricity Real Estate Constr Mfg-Chem

%

23.36%

18.20%

18.19%

11.85%

11.72%

11.02%

7.56%

6.38%

5.50%

3.64%

3.04%

-20.46%

Rp Billion

Breakdown of Net Expansion in Commercial Lending

Q2

–

Q2

Total ‘p

19.45 tn)

595 812 922 977 994 998 1,232 1,277 1,284 1,451 1,562 1,569 2,141 3,636

Mfg-Feed Mfg-F&B Mass Trans Trad-Imp Mfg-Chem Mfg-Text Constr Plantations Mfg-P&P Mfg-Metal Oth Mfg-RawM Bus Serv Trad-Distr

%

18.69%

11.01%

8.07%

8.03%

7.46%

6.60%

6.57%

6.33%

5.13%

5.11%

5.02%

4.74%

4.18%

3.06%

Diversifying our Strength in Wholesale L

e di g…

Wholesale Transactions Driving CASA

745 2,414

4,066 6,153

7,784 10,943

11,899

12,11212,366

12,652 12,932

13,16213,437

2006 2007 2008 2009 2010 2011 2012 1

Q

13

2

Q

13

3

Q

13

4

Q

13

1

Q

14

2

Q

14

Cash Management Users

Wholesale CASA Deposits

58

,055

62

,257

61

,691

53

,604

74

,116

89

,959

74

,334

89

,776

85

,77

5

-10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000

2007 2008 2009 2010 2011 2012 2013 2_Q

2013

2

Q

2014

Total CASA (IDR Billion)

248 479 716 685 677 771 1,130 1,175 1,178 1,676 2,1₄₈ 2,161 2,201 2,657 3,598

4

Q

10

1

Q

11

2

Q

11

3

Q

11

4

Q

11

1

Q

12

2

Q

12

3

Q

12

4

Q

12

1

Q

13

2

Q

13

3Q13 4

Q

13

1

Q

14

2

Q

14

Average # of Cash Management Tx

(000), total 10.8 Mn transaction in

2Q2014

*)

*) _{Exclude Mandiri Transaction System}

20

67.5% YoY

Growth (4.5%) YoY

Growing Volume in Wholesale Transaction Business

Forex

34 42 63 61 29 30

281,153 310,512

322,795 399,500

153,296 165,673

-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 Jun'13 Jun'14

Value (USD Billion) # of Trx

Wholesale Remittance

70 94 121 135 34 38

435,866 448,219

599,909 651,241

171,220 197,381

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

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0

Dec 10 Dec 11 Dec 12 Dec 13 Jun'13 Jun'14

Value (USD Million) # of Trx

21

Mandiri Cash Management*

549 818 1,5

1

9

2

,231

1

,047

1

,381

2,503

7,668

13,676

24,543

11,547

18,764

-5,000 10,000 15,000 20,000 25,000 30,000

(200.0) 300.0 800.0 1,300.0 1,800.0 2,300.0

Dec 10 Dec 11 Dec 12 Dec 13 Jun 13 Jun 14

Value (IDR Trillion) # of Trx (000)

Trade Transaction : Export, Import, Domestic

*) _{Exclude Mandiri Transaction System}

85 110 125 133 65 67

495,813 510,916 517,251

520,948

269,324

242,279

-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

Dec 10 Dec 11 Dec 12 Dec 13 Jun 13 Jun 14

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 16 6.8 176 .3 190 .9 179 .0 180 .8

5.1 6.2 5.16.1 6.86.9

7.48.19.310.2

11.011.011.711.9 11.5 11.312.712.813.0 13.7 14.715.6 18.4 20.7 21.022.0

4.4 5.1 5.36.8 5.66.1

8.09.48.28.8 9.1

11.110.511.912.2 15.714.615.4 16.1 18.6 17.016.7 28.6 33.0 29.733.6 1.41.41.8 1.7 2.32.5

2.42.7 2.72.7 3.3

3.2 3.53.5 4.1 4.2 4.34.3 10.7 11.4 12.111.9 44.442.050.6 63.462.965.168.7 68.571.870.668.7 70.569.068.6 70.8 73.171.670.3 71.5 71.4 72.170.7 80.2 84.5 88.4100.1

5.0 5.1 5.4

7.7 7.47.4

7.56.8 6.05.7

5.85.8 5.35.2 5.2

5.3 5.05.0 5.1 5.0 4.74.6 6.4 7.0 6.3 7.0 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 1 Q '08 2 Q '08 3 Q '08 4 Q '08 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 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

Rp Savings Deposits FX Savings Deposits Rp Demand Deposits

FX Demand Deposits Rp Time Deposits FX Time Deposits

Retail Deposit Rose by 27.5% Y-o-Y

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%2.0% 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% 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% 5.10% 4.90% 5.0% 5.5% 6.6%7.0% 7.26% 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% 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% 0% 2% 4% 1 Q '08 2 Q '08 3 Q '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 4 Q '10 1 Q' 11 2Q '11 3 Q' 11 4 Q' 11 1 Q' 12 2 Q' 12 3 Q' 12 4 Q' 12 1 Q' 13 2 Q' 13 3 Q' 13 4 Q' 13 1 Q' 14 2 Q' 14

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% CASA as % of total deposits

Increasing CASA Market Share Among Top Competitors

CASA

–

Bank Only

CASA Market Share (%)

23

283

,431

.76

307

,954

.28

302

,161

.84

321

,354

.19

253,420.

71

274

,058

.09

BMRI -May 13

BMRI -May 14

Bank A -May 13

Bank A -May 14

Bank B -May 13

Bank B -May 14

24.5

Tn

19.2

Tn

20.6

Tn

34.09%

35.57%

30.34%

May-14

BMRI

Bank A

Bank B

33.78%

36.01%

30.20%

May-13

60

,676

63

,323

66

,851

7

3

,3

2

4

81

,046

84

,675

91

,504

96

,268

105

,192

108

,434

118

,788

123

,833

130

,158

131

,857

140

,189

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%

20% 22% 24% 26% 28% 30% 32%

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

4

Q

2010

1Q 20

11

2

Q

2011

3

Q

2011

4

Q

2011

1

Q

2012

2

Q

2012

3

Q

2012

4

Q

2012

1

Q

2013

2

Q

2013

3

Q

2013

4

Q

2013

1

Q

2014

2

Q

2014

Retail to Total Loans

Building our High Yield Business in Retail Lending

Retail to Total Loans

Micro Credit Business Banking Consumer

Finance

24

(Rp Bn)

Micro Credit

(Rp Bn) Business Banking

23,862 30,964

7,102

Q2 2013 Growth Q2 2014 YoY

29.8%

42,493 48,964

6,471

Q2 2013 Growth Q2 2014 YoY

15.2%

(Rp Bn)

52,433 60,261

7,828

Q2 2013 Growth Q2 2014 YoY

14.9%

Strong

Mi

crofi

n

ance

Grow

th

200 300 502 687 697 713

600 800 800 878 928 1,027 1,028 1,072

10 152 480

710 760 751 738 739

2008

2009

2010

2011

2012

2013

1

Q

'14

2

Q

'14

Bra

n

ch

Unit

Ki

o

sk

271

430

562

694

815

889

910

945

2008

2009

2010

2011

2012

2013

1

Q

'14

2

Q

'14

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

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

…as ell as Co su e Le di g, hi h ‘ose

14.9%

Y-o-Y as Auto Lending Remains Strong

26

13 ,500 14 ,268 15 ,523 16 ,466 17 ,779 18 ,764 2 0 ,1 1 3 20 ,919 22 ,818 24 ,092 26 ,135 27 ,357 26 ,995 26 ,690 26 ,505 3

,957 3,964

3 ,979 3 ,949 3 ,887 3 ,777 3

,679 3,57₁

3 ,471 3 ,365 3 ,312 3

,240 3_,181 3 ,172 3,198

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

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 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 ,260 447

698 791

873 928 964

1,016 1,037 1,010

966 927

904

809 840 805 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 4 Q '10 1 Q '11 2 Q '11 3 Q '1 1 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 Other Auto

Credit Cards Payroll Loans

Home Equity Loans Mortgages

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

(13.65%)

(4.67%)

Auto Loans*

55.08%

10.62%

Credit Cards

31.96%

23.37%

Payroll Loans

18.79%

6.10%

Home Equity Loans

(3.44%)

0.84%

Mortgages

1.42%

(0.69%)

Total Consumer

14.93%

5.04%

Quarterly Consumer Loan Balances by Type

Consumer Loan Growth by Type

Rp60.3 tn

Enhanced Transaction Capabilities

Quarterly Transaction Volume (Mn)

Quarterly Transaction Value (Rp tn)

Quarterly Users (Mn)

* Inactive cards have been purged 122.9 142.0 141.9 148.1 168.1 186.2 189.4 204.0 226.6 218.1 222.3 232.9 236.3 231.3 243.5 42.3 38.641.740.8 43.040.7 44.7 45.3 39.1 45.4 43.8

7.9 11.615.015.421.3

25.4 26.2 27.3 34.5 30.833.0 57.4 61.6

8.316.5 26.6

31.8 49.7 68.5 77.8 84.7 85.3 66.7 66.8 76.7 75.5 85.3 81.0 87.8 0 25 50 75 100 125 150 175 200 225 250 Q 1 '09 Q 2 '09 Q 3 '09 Q4 '09 Q 1 '10 Q 2 '10 Q 3 '10 Q 4 '10 Q 1 ' 11 Q 2 '11 Q 3 '11 Q 4 '11 Q 1 '12 Q 2 '12 Q 3 '12 Q 4 '12 Q 1 '13 Q 2 '13 Q 3 '13 Q4 '13 Q 1 '14 Q 2 '14 ATM Branch SMS Banking Internet Banking

27

77.1 95.5 97.1 107.5 130.8 147.7 153.8 159.9 170.0 177.3 179.3 184.1 191.2 197.0 192.6 206.4

1.4 2.1 2.62.9 5.05.5_5.5 8.88.3

9.2

10.514.9

17.6 25.3

4.8 7.1 8.7

Retail Payment system gaining Traction

Fee Income from e-channel Tx (Bn)

28

23,690

27,61133,732 47,127

92,903 180,532

230,352 240,468

250,043

2007 2008 2009 2010 2011 2012 2013 Q

1

2014

Q

2

2014

Numbers of EDC

52.1 89.4 126.2

200.3 258.2

315.2 347.6 420.8

65.5 98.5

166.6 196.5

285.7 318.6

382.0 484.2

81.9 110.5

194.5 249.3

313.9 361.8

437.5

89.0 117.8

223.7 268.5

312.8 464.4

512.9

2007 2008 2009 2010 2011 2012 2013 2014

Q4 Q3 Q2 Q1

24.0% YoY Growth

Volume Mandiri Business

Saving Account (Tn)

3.5 4.8 8.0

17.7 34.7

59.4 85.8

65.8 84.9

2007 2008 2009 2010 2011 2012 2013 Q

2

2013

Q

2

2014

Making Inroads into SME and Retail Payments

# SME Business w/ Mandiri Acc

# MTB Transaction & Volume

29

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.

# MIB Transactions & Users

366

,017

548

,054

641

,171

377

,981

902

,059

1

,013

,906

11,535

13,542 15,312 15,971 19,983

18,184

-5,000 10,000 15,000 20,000 25,000

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

Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14

# of Transactions # of Active Users 543,972

643,334

745,313

2012 2013 2014

201

,106

212

,844

261

,935

265

,423

272

,212

290

,019

9,235

10,601 11,385

12,616 12,773

14,068

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

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

Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14

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 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

Q2 Total NPLs of Rp7.66tn with Rp717bn in Write-Offs

NPLs (Rp tn)

2Q (Rp tn)

NPLs (%)

Corporate 2.60 (0.04) 1.56%

Commercial 1.16 0.12 0.94%

Small 1.59 (0.02) 3.24%

Micro 1.03 0.11 3.31%

Consumer 1.28 0.16 2.13%

Total 7.66 0.32 1.77%*

Non-Performing Loans by Segment

* Excluding loans to other banks.

Movement by Customer Segment (Rp Bn)

7.34

0.19

1.27

0.24

0.72

0.20

7.66

1Q '14 UG to PL DG to NPL Payment Write-Offs Other 2Q '14

Non-Performing Loan Movements (Rp tn)

–

Bank Only

31

0 0 80

31

271

12 55

384

221 21

410

234

81

202

170

0 200 400 600 800 1000 1200 1400

UG to PL DG to NPL W/O

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

#

2Q 2014 Details

Loan Background

Q

Balance

(Rp bn)

2Q

2012

3Q

2012

4Q

2012

1Q

2013

2Q

2013

3Q

2013

4Q

2013

1Q

2014

2Q

2014

DG to

NPL

%

UG to

PL

%

Corporate

154,035.49

0.03

0.01

0.25

0.00

0.01

0.00

0.00

0.10

-

-

-Commercial

118,402.14

0.15

0.05

0.27

0.24

0.05

0.10

0.01

0.08

0.04

0.06

0.03

Small

45,791.04

0.70

0.84

0.49

1.28

0.59

1.05

0.64

0.97

0.70

0.80

0.11

Micro

30,878.70

1.30

1.37

1.00

1.25

1.10

1.18

0.89

1.16

1.26

1.33

0.07

Consumer

59,875.11

0.24

0.25

0.07

0.28

0.18

0.17

0.07

0.35

0.20

0.33

0.13

Total

408,982.49

0.23

0.22

0.11

0.34

0.18

0.25

0.13

0.30

0.21

0.26

0.04

Q2 2014 Annualized Net Downgrades of 0.8% on Loans

Originated Since 2005.

# %

downgrades

and

upgrades

are quarterly % figures

R

es

tru

ctu

red

Loans

19.4 20.3 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 12.6 11.2 11.4

5

.0

7

.0

9

.0

11

.0

13

.0

15

.0

17

.0

19

.0

21

.0

23

.0

4Q '05 4Q '06 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

Decl

ini

ng Restr

uct

ured

Loans

Si

nce

2005

Ann

u

al

iz

ed

R

el

ap

sed

R

a

te o

f

R

es

tru

ctu

red

Loan

P

or

tf

ol

io

33

1.2

%

2.7

%

0.0

%

0.3

%

0.0

%

0.0

%

0.0

%

0

.0

%

0

.5

%

1

.0

%

1

.5

%

2.0%

2

.5

%

3

.0

%

Total Assets Rp62.8 tn

Bond Trading Volume Rp26.5 tn

Total Assets Rp20.0 tn

Total Loans Rp825bn

Total Financing Rp7.2tn

Total Financing Rp49.6 tn

Equity & FI Underwriting Rp5.1 tn

Annual FYP Rp1,442.6 bn

Net Interest Margin 11.3 %

Net Interest Margin 3.32% Total Deposits

Rp55.2 tn

Equity Trading Volume Rp67.5 tn

Fee Contribution Rp249.9 bn

ROA 2.32%

ROA 4.77%

ROE 6.26%

ROE 15.6%

ROE 60.3%

ROE 10.69%

ROE 30.75%

•Remain the leader in syariah financing

•Capital injection program over 3 years

•Cross-sell 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

•Provide end-to-end bank assurance business

•Continue to build cross-sell opportunities in various segments

•Bank assurance products complete our suite of consumer offerings

•Enhance operating model •Improve risk management

systems and IT •Improve productivity

• Use Ba k Ma di i s network and customer throughout Indonesia to develop multi-finance segment, especially in vehicle-ownership financing.

Enhancing Synergies & Value from Subsidiaries

Investment Banking

Syariah Banking Insurance Niche Banking

Bank Sinar Harapan Bali

Multi-Finance

InHealth

–

Opportunity to Increase Fee Income and

Contribute to the Insurance Portfolio

36

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 nearly 6,000 healthcare providers and recorded over Rp. 470 billion in claims year to date 2014

• Bank Mandiri will leverage the hospital network as I Health s pa t e to i ease t a sa tio s th ough enhanced cash management products

• Bank Mandiri also will provide retail packaged products for all the do to s as I Health s pa t e

InHealth earned premium payments of Rp. 754 billion in 2014 year to date from clients. Going forward, Bank Mandiri will encourage the use of cash management products through Bank Mandirisdistribution channel and cross-sell other product to over 1.1 million InHealth member

692

,831

1

,023

,228

1

,175

,240

1

,118

,206

1

,141

,896

1

,148

,682

5,501

6,242 6,314 6,262

6,094

5,993

5,000 5,200 5,400 5,600 5,800 6,000 6,200 6,400

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

2009 2010 2011 2012 2013 1H'14

Total Member # of Providers

36 78 47 107 120 74 104

203

811

1,073 1,203

1,410

755 754

0 20 40 60 80 100 120 140

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

2009 2010 2011 2012 2013 1H'13 1H'14

Ba k Ma di i s

2014 Corporate Guidance

Target 2014

1H 2014 Realization

Gross Loan Growth (YoY)

16%-18%

13.3%

Low Cost Deposits

410 Tn

346 Tn

Net Interest Margins

~5.60%-5.70%

5.74%

Efficiency Ratio

<45%

42.5%

Gross NPLs

<2.10%

2.23%

Cost of Credit

~1.2%-1.3%

1.13%

# of New ATMs

2,500

–

4,000

90

# of New EDCs

40,000

19,691

# of New Micro Outlets

300

59

# of New Conventional Branches

50

11

38

39

Corporate + Institutional Banking:

Contribution Margin increased on provision

Rp bn

Rp bn

1,729

1,084

465 ₃₈₅

2,893

327 3,220

1,075

393

1,088 1,375 1,557 824

954

1,403

1,717 1,663 416

1,187

1,385

1,311

1,011 1,035

1,438

1,829

2010 2011 2012 2013 2014

Q1 Q2

Q3 Q4

4.1%

3,220

Performance to Date: 2Q 2014

Contribution Margin (Profit Before Tax)

Strategies for 2014

1. Focusing on Anchor Clients

and penetrating through

using of Transaction

Banking

2. Account Plan

implementation for top 100

Corporate Banking

Customers.

3.

P o ide o e stop se i e

solutio s fo usto e s

transactions and create new

business process to

accelerate the execution of

Account Plan including

effective and responsive

Complaint Handling.

4. Strengthen business

alliance with Mandiri

Sekuritas to ease customers

in capital market

3,326

3,910

3,569

Mandiri Sekuritas

fi a ial pe fo a e

40

H1 2014

H1 2013

Y-o-Y



(%)

Revenues

338

248

36

•

Investment Banking

62

49

27

•

Capital Market

170

127

34

•

Proprietary

37

16

131

•

Investment Mgt

68

55

24

)

Operating Expenses

212

165

28

Earnings After Tax

78

58

34

Equity Transactions

–

bn

67.478

61.129

10

SUN Transactions - bn

26.529

23.945

11

Equity & Bonds

Underwritten

–

bn

5.056

6.352

(20)

ROA

9,8%

7,3%

34

ROE

15,6%

13%

20

41

1.

Optimize Off-Shore Branches

as a regional treasury

transaction distribution

channel.

2.

Refocusing on retail FX

Transaction.

3.

Developing Sharia Custody.

4.

Increasing our presence as

main correspondent bank in

Indonesia.

5.

Maintain NPL ratio with

effective restructuring and

joint effort with Business

Unit.

6.

Optimize off balance sheet

accounts through auction

and legal action.

7.

Joint planning session and

joint monitoring

implementation.

8.

Creates nation-wide vendor

accreditation.

Treasury, FI & SAM

•2010 – 2012 : Including collection from SAM and excluding

International branches (except Cayman)

•2011 Including collection from Garuda Indonesia (non recurring)

983

2,196

242

2,929

292

3,220

9.07

455 724

3,091

1,159 1,548 1,389 348

1,338 389

1,163

1,396 1,832

316

1,247 954

911

1,660

263

1,540

1,660

2,371

1,765

2009 2010 2011 2012 2013 2014

Q1 Q2

Q3 Q4

31.2%

4,848

1,382

6,094

Performance to Date: 2Q 2014

Contribution Margin (Profit Before Tax)

Strategies for 2014

Rp bn

Rp bn

5,605

6,369

Commercial Banking:

Strong revenues from Assets

1. Support Bank Ma di i sWholesale 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 f o e usto e s a d a agi g NPLs.

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. P o ide ui k a d eas se i es fo small business customers by

increasing distribution channels in la k spot a ea a d i p o i g s all business model and process

5. Effective Alliance in units based on customer base in Commercial and Small segment, especially in developing value chain business.

Performance to Date: 2Q 2014

Contribution Margin (Profit Before Tax)

Strategies for 2014

Rp bn

Rp bn

42

2,774 307

689 590

3,180

939

2,240

923 939 1,010

1,776 1,833

976 946 1,176 1,314

2,024 _1,800

1,264 1,166 _1,174 1,057

1,907

1,511

1,094 1,420

1,677

2,159

1,519

2009 2010** 2011 2012 2013 2014

Q1 Q2 Q3 Q4

incl CM of Small Business & BSM

**in June 2010 Decline due to PSAK50&55Implementation

(29.7%)

6,662

4,449

4,709

5,058

7,866

Commercial Banking :

Stronger Platform & Improved Distribution Capability

43

Expanding Scope of Distribution, 2014

Solid & Stable Source of

Low Cost Funds

Product Q2

2014

Q2

2013 Growth

Demand

Deposit 10.34 18.47 (44.0%)

Rupiah 6.19 11.59 (46.6%)

FX 4.15 6.88 (39.7%)

Saving

Deposit* 1.07 1.83 (41.5%)

Total CASA 11.41 20.30 (43.8%)

Total Funding 17.26 28.70 (39.9%)

Rp Tn **

CASA Ratio = 66.1%

Funding from Java & Bali = 71.3% of total funding

Sumatera Loans = Rp 18,1 tn

Funds = Rp 3.4 tn

Kalimantan Loans = Rp 6.5 tn Funds = Rp 1.2 tn

Eastern Loans = Rp 2.9 tn Funds = Rp 0.4 tn

Java and Bali Loans = Rp 96.1 tn Funds = Rp 12.3 tn

* Business Savings Product

** excl. BB

CBC = 24 Unit Floor = 25 Unit

Business Banking :

44

BBC

BB Floor

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

BBC : 46 BB Floor : 95 BB Desk : 109

Mandiri Business Lounge : 68

Expanding Scope of Distribution, 2014

Solid & Stable Source of

Low Cost Funds

Product Q2

2014

Q2

2013 Growth

Demand

Deposit 1,99 3.63 (45.2%)

Saving

Deposit* 2.15 1.31 64.1%

Total CASA 4.14 4.93 (16.0%)

Total

Funding 5.29 5.92 (10.6%)

Rp Tn**

CASA Ratio = 78.3%

Funding from Java & Bali = 59.9% of total funding

Sumatera Loans = Rp 17.6 tn

Funds = Rp 0.9 tn

Kalimantan Loans = Rp 6.9 tn Funds = Rp 0.6 tn

Eastern Loans = Rp 6,0 tn Funds = Rp 0.5 tn

Java and Bali Loans = Rp 22.9 tn

Funds = Rp 3.2 tn

•Business Savings Product

** Exclude mirroring with MRB Directorate

45

Str

ong

gr

o

wth fr

om

Bank

Sy

ari

ah

Man

di

ri

Sy

ari

a

h

Fi

n

an

ci

ng

(

Rp

tn

)

Fi

n

an

ci

a

l P

er

for

mance

(Rp

bn

)

FY ’ 08 FY ’9 FY ’ FY’ FY’ FY’ Q ’ Q ’ Fi n an ci n g 13,278 16,063 23,968 36,664 44,755 50,460 49,821 49,602 De p o si ts 14,899 19,338 28,999 42,618 47,409 56,461 55,148 55,170 A ss e ts 17,066 22,037 32,482 48,672 54,229 63,965 63,009 62,787 E A T 196.42 290.94 418.52 551.07 805.69 651.24 200.50 150.1 R ati o s: RO A (% ) 1.83 2.23 2.21 1.95 2.25 1.53 1.77 0.66 R O E ( % ) 21.34 21.40 25.05 24.24 25.05 15.34 16.77 6.26 G ro ss N PF 5.66% 4.84% 3.52% 2.42% 2.82% 4.32% 4.88% 6.46% 6.3% 6.3% 6.6% 6.2% 6.2% 6.4% 6.6% 6.0% 5.9% 6.9% 7.5% 6.9% 6.9% 7.0% 7.3% 7.1% 7.3% 7.2% 7.3% 8.1% 6.2% 4Q '07 4Q '08 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 12.4% 13.5% 13.0% 12.4% 13.0% 12.3% 12.5% 12.7% 12.7% 12.0% 12.1% 12.1% 12.3% 13.3% 13.2% 13.2% 13.0% 11.5% 12.0% 12.2% 12.4% 12.3% 12.4% 12.1% 12.0% 11.1% 11.1% 5.4% 5.4% 5.3% 5.3% 5.7% 6.2% 5.9% 5.8% 5.6% 4.7% 4.9% 5.0% 5.1% 5.0% 5.5% 5.4% 5.2% 4.5% 4.7% 4.5% 4.5% 4.6% 4.0% 4.0% 4.1% 4.4% 4.5%

Ne

t

In

ter

es

t M

ar

gi

n

&

Cos

t of

Fund

s

Yo A

CoF _NIM

46

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.,

pre-paid) as well as e-channel

transactions in order to

i

ease usto e s lo alt

and balances.

3.

Continue to develop

integrated

branding, marketing strategies

and comprehensive

distribution strategy

(ATMs, Branches, EDCs

located at optimal locations)

Micro & Retail Banking:

Rapidly growing our high margin business

Contribution Margin (Profit Before Tax)

Strategies for 2014

Performance to Date: 2Q 2014

Rp bn

Rp bn

1,763

7,140

2,311

4,144

7,070 732

6,338

1,126

761 981 965 1,237

3,252 855

583

842 1,081

1,391

3,086

449

877

1,033 1,170

1,867

722 ₈₉₉

1,311

1,242

2,259

2009 * 2010* 2011 2012 2013 2014**

Q4 Q3 Q2 Q1

*Including Small Business

**Resegmentation

4,167

_141.2%

3,152 3,120

4,458

6,753

47

Consumer Finance:

Significant growth in spread and fee income

1.

Develop clear portfolio

strategy, targeted to key

customer segments

2.

Differentiate acquisition

strategy by markets

3.

Increase existing sales

executive productivity

4.

Strengthen Consumer Loan

organization structure to

support the achievement of

business target, internal

portfolio growth and the

increasing proportion of

market share

5.

Focusing in branch as main

channel acquisition for credit

card and personal loan

6.

Increasing alliance with other

Business Units to support the

achievement of business

targets

Performance to Date: 2Q 2014

Contribution Margin (Profit Before Tax)

Strategies for 2014

Rp bn

Rp bn

1,191

701

453

1,439

480

960

252 476

496

770 ₇₂₈

392 355

455 486

715 ₇₀₅

567 413

526 531

729

576

489

474

693

772

525

2009 2010 2011 2012 2013 2014

Q1 Q2

Q3 Q4

2,535

(33%)

1,926

2,205

2,987

Mandiri Tunas Finance: Total Financing YTD of Rp7.2Tn

48

Total Booking and the Breakdown for

Joint Financing and Non JF

Breakdown of Financing

405 539 806 1,101 1,370 1,364 1,245 1,355 1,353 1,609 1,4

20

2

,075 2,105 2,416 2,871 2,678 3,290 3,374

309

306

351

372

350 422 ₃₄₂ 312 373

486 396 401 372 345 289 232 208 162 61 79 118 99 118 109 84 67 60

72 49 56 56 76 80 70

64 70

Q 1 '10 Q 2 '10 Q 3 '10 Q 4 '10 Q 1 '1 1 Q 2 '11 Q 3 '11 Q 4 '11 Q 1 '12 Q 2 '12 Q 3 '12 Q 4 '12 Q 1 '13 Q 2 '13 Q 3 '13 Q 4 '13 Q 1 '14 Q 2 '14 Motorcycle Used Car New Car

Q2 2014 Performance

(Rp Bn)

Q2

2014

Q2

2013

Change

Loans 18,438 13,337 38.3%

Net Income (after tax) 113 85.4 32.3%

Approval Rate (%) 87.6% 87.7% (0.1%)

Disbursement 7,169 5.371 33.5%

NIM (%) 3.32% 3.67% (0.35%)

ROA (%) 4.77% 4.63% 0.14%

ROE (%) 30.75% 30.27% 0.48%

CER (%) 44.30% 45.48% (1.18%)

NPL (%) 1.12% 1.19% (0.07%)

375 566 852 966 1,146 587 302 ₇₈ 257 576 884 761 1,054 1,110 1,016 523 1,506 1,1₉₉ 398 341

425

606

694 1_{,306 1} ,369 1,656 1,530

1

,592

981

1

,771 1,478

1 ,728 2 ,224 2,4 56 2

,056 2,408

49

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%

50

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 1H (Whole

Group): Rp26.4tn (14.7% YoY)

•

Profit from Subsidiary:

Rp1.02tn (10.6% of EAT)

•

1H Revenue Wholesale vs

Retail : Rp 12.5tn vs Rp 7.7tn

Our Deal size has continued

to move higher

•

BSHB



Rp 40bn (200)

•

MTF



Rp250 bn (2009)

•

Inhealth



Rp 1.3 tn (2013)

Bank

& Group

Finding Business

Partners

M & A

•

JV with AXA (AMFS). Gross Written

Premiums Rp1.7tn. +14% YoY

•

JV with Tunas Ridean (MTF). Total

Financing Rp3.6tn. 26% YoY

•

InHealth



partner BPJS

9,798

3,745

5,830

7,713

Net Interest Income Fee-Based Income Overhead Expenses &

Others

Pre-provision Operating Profit

2Q 2014 operating profit increased by 15.1% from 2Q 2013

on higher NII

2Q 2014

Notes :

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

2Q 2013

Rp billion

Up 15.1%

8,395

3,368

5,067

6,696

Net Interest Income Fee-Based Income Overhead Expenses &

Others

Pre-provision Operating Profit Rp billion

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

Strengthen leadership in wholesale

transaction banking



Comprehensive financing &