2015Q1 Analysts Meeting .

PT Bank Mandiri (Persero) Tbk

1Q 2015

Results Presentation

Share Information

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∆ from: IPO Dec 31, 2014

BMRI 1,778.77% 15.78%

JCI 951.80% 5.58%

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Table of Contents

Results Overview Page #

Indonesia’s Economic Condition 3

1Q 2015 Highlights 4

Key Indicators + Financial Highlights 5 – 6

SBU Performance Highlights 7

Bank’s Performance 8 – 11

Loan Performance 12 – 14

ROE & NIM 15 – 16

Fee-Based & CIR 17 – 18

2

Fee-Based & CIR 17 – 18

Wholesale Business 19 – 21

Retail Business 22 – 28

NPL Movement 29 – 32

Subsidiaries 33 – 35

Targets & Initiatives 36

Additional Information

Operating Performance Highlights

Core inflation Remains Stable and

Headline Inflation Is Dropping

Inflation And Current Account Deficit Appear Manageable

Steps Are Being Enacted That Should

Improve The Current Account Deficit

GDP Expansion Remains Below The

Historical Average

14 16 18 20

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

10 15

10 15 20

Capital and Financial Account Current Account (CA)

BoP

7 7.5 8 8.5 9

3

Source : CEIC, Bloomberg

0 2 4 6 8 10 12

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5.01

7.50

6.38

5.04

Cash Management

14,105 Customers

Bank Mandiri Remains on Track to become Indonesia’s Most

Admired Financial Institution

e-Channel Tx

506Mn YTD

# of Cards Issued

Credit 3.73 Mn

# of Accounts

Deposit 16.14 Mn

Loan 1.55 Mn

including mortgage

accounts of 166,709

# of new Accounts (YTD)

Deposit 1.13 Mn

Loan 172,520

# of Outlets

2,317 Branches

2,749 Micro Outlets

(3)

15,444 ATMs

14,105 Customers

14.5 Mn Tx YTD

2015

(2)

4

Retail Loans

(1)

Rp 158.2 Tn

33.1% of Loans

High yield loan

amounting Rp 102.9 Tn

Subsidiary Income

Total Rp 607 Bn

Sum of income from

8 subsidiaries

(11.8 % of EAT)

Alliances

Bank Guarantee: Rp4.7tn

Foreign Exchange: Rp6.4tn

Fund Under Management

(FUM): Rp4.7tn

506Mn YTD

27% Growth

Credit 3.73 Mn

Debit 12.40 Mn

Prepaid 5.41 Mn

(1)

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

Bank Mandiri’s 1Q 2015 Performance across several key indicators:

1Q’14

1Q’15

%

Loans

Rp470.4 tn

Rp532.8 tn

13.3%

Gross NPL Ratio

2.07%

2.27%

9.7%

Key Financial Highlights

6

Net NPL Ratio

0.67%

0.89%

32.8%

Low Cost Funds Ratio

[Low Cost Funds (Rp)]

63.0%

Rp334.7 tn

59.2%

Rp372.1 tn

(6.0%)

11.2%

NIM*

5.92%

5.62%

(5.2%)

Efficiency Ratio

43.0%

44.4%

3.2%

Earnings After Tax

Rp4,925 bn

Rp5,138 bn

4.3%

Balanced Earnings from All Business Units

1,175

Net Interest Income Analysis 1Q 2015

2,876

2,611

1,596 1,652

(Rp Bn)

Fee Based Income 1Q 2015

(Rp Bn)

236

844

Corporate Banking Treasury and

Markets

7

7

873

1,174

1,495

987

1,701

133

478

101

1,624

Treasury and Markets

Corporate Banking

Commercial Banking

Consumer Banking

Micro and Business

Banking

Asset Spread Liability Spread 1,006

Net Interest Income

481

1,142 203

Micro and Business Banking Consumer Banking Commercial Banking

2

2

2

2 22

6

17.8 _20.320.4 16.1 24.0 29.028.2 20.1 20.0 20.5 27.5 33.730.5 420 440 460 480 500 520 540 560 580 600 620

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

46.3 49.0 52.0 57.2 55.3 23.9 24.9 27.028.2 31.0 32.736.0 37.2 3.9 4.2 4.2 3.9 3.9 3.8 3.7 3.8 360 380 400 420 440 460 480 500 520 540 Subsidiaries Recovery Micro Small Cons Comm Int'l Corp

Maintaining Momentum for Growth

Y-o-Y 52.0% 27.9% Y-o-Y (2.8%) 19.5%

Loans by SBU + Subsidiaries

(Rp Tn)

Deposits by Product – Consolidated

(Rp Tn)

13.3% 532.8 tn Total Total 531.6tn 628.7tn 18.3% (1.8%) 470.4tn 14.4% 32.0% 9 7 .1 1 0 2 .9 1 0 8 .8 1 2 1 .9 1 1 9 .8 1 2 6 .5 1 3 5 .4 1 5 1 .8 1 5 0 .4 1 5 9 .9 1 6 6 .2 1 8 6 .9 1 7 9 .9 1 8 9 .8 1 9 8 .8 2 1 4 .7 2 0 1 .9 2 0 3 .0 2 0 8 .0 2 2 7 .7 2 0 7 .3

9.9 10.811.6

11.612.312.712.2 12.013.413.614.0 15.315.816.819.0 20.7 22.123.222.3 24.7 23.3 4 7 .8 5 0 .3 3 9 .9 4 6 .2 4 5 .3 4 7 .9 4 9 .4 6 7 .3 7 5 .0 5 9 .0 6 3 .0 7 7

.9 61

.2 7 4 .6 6 3 .9 7 3

.4 67

.2 7 4 .2 7 9 .6 7 8 .9 8 3 .4 22.023.122.9 22.225.422.3 24.0 25.328.228.028.5 36.1 33.3 38.549.2 51.1 43.545.0 52.0 49.1 58.1 1 2 4 .4 1 2 7 .8 1 2 7 .0 1 4 7 .8 1 4 3 .5 1 4 0 .8 1 4 0 .0 1 4 8 .1 1 2 0 .8 1 3 7 .5 1 3 8 .9 1 5 0 .7 1 5 2 .8 1 5 3 .7 1 5 5 .2 1 7 6 .2 1 7 6 .9 1 9 0 .0 2 0 1 .6 2 2 2 .3 2 2 6 .2 11.811.711.1 12.510.312.415.3 17.8 15.620.3 20.4 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 1 Q '1 0 2 Q '1 0 3 Q '1 0 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 7 4 .5 8 0 .7 8 4 .2 8 5 .4 8 5 .1 9 6 .2 1 0 3 .2 1 0 6 .2 1 1 3 .0 1 1 9 .2 1 2 3 .2 1 2 6 .3 1 2 4 .7 1 4 6 .9 1 5 5 .2 1 6 3 .7 1 6 0 .8 1 6 1 .3 1 7 1 .9 1 7 3 .3 1 7 0 .7

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 1.3 1.3 0.8

4 9 .1 5 3 .1 5 7 .5 6 3 .8 6 4 .7 7 0 .1 7 4 .7 8 0 .7 8 2 .5 8 9 .8 9 3 .3 1 0 2 .7 1 0 2 .0 1 0 4 .2 1 1 1 .0 1 1 6 .9 1 1 6 .3 1 2 3 .7 1 2 7 .7 1 3 8 .9 1 4 5 .1 24.726.7 28.630.732.4 34.336.3 39.040.7 43.344.5 47.749.3 52.4 55.2 56.6 57.4 60.3 62.4 64.7 65.7 17.7 19.320.5 22.7 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 9.511.8 13.1 15.116.8 19.0 20.7 23.9 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 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 1 Q '1 0 2 Q '1 0 3 Q '1 0 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 33.4% 24.1% 2.7% 24.7% 6.2%

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

(65.3%)*

5.5%

8

Deepen Client

Relationship

Accelerate Growth

Segment

Wholesale Strategy

Group Wide Strategy

Retail Strategy

Integrate The Group

3 Key Areas of Focus for 2020

Integrated Wholesale Transaction Bank

Holistic Product Suite

Culture of Cross-Selling across

Wholesale, Retail and subsidiaries

Micro

Easy Access & Simple Product

9

Sector Led Solutions

Through Expertise-led Client Solutions

Cross Border Coverage

Supporting Clients’ Regional Needs

Current Achievments ( Q1 2015)

Total Wholesales Fees Rp 1.1 Tn1)

Total Wholesale Low Cost Deposits

Rp 92.5 Tn.

Growth of Trx Cash Management 81.86%2).

Total Wholesale Trx. Fees Rp 922.4 Bn

Wholesale, Retail and subsidiaries

Engaging in Integrated Retail Initiatives

with Subsidiaries and Business Units to

Drive Cross Selling

Current Achievments (Q1 2015)

SME

One Stop Sales & Service

Individual

Grow with Customers

Current Achievments (Q1 2015)

Total Retail Fees of Rp 2.2 Tn 1)

Total Retail Low Cost Funds Rp 251 Tn

YoY increase in E-Channel transaction : 27.0%

Mandiri Business Savingreaches Rp 87.5 Tn Volume of Business Alliances :

Bank Guarantee : Rp 4.7 Tn. Foreign Exchange : Rp 6.4 Tn. FUM : Rp 4.7 Tn

Wholesale Product Holding : 8.75

Strong and Liquid Balance Sheet

(Rp Bn, Consolidated)

Assets

Q1 2015

Q1 2014

Liabilities

Q1 2015

Q1 2014

Cash

16,756

14,501

Current Account

141,491

110,738

Current Acc w/ BI & Other Banks

60,165

60,149

Savings

230,584

223,970

Placement w/ BI & Other banks

62,821

33,183

Time Deposits

256,638

196,903

Advances (Other)

34,273

21,340

Marketable Securities

44,664

30,945

Total Deposits

628,712

531,611

Government Bonds

100,115

90,649

10

Government Bonds

100,115

90,649

Loans (Gross)

532,824

470,423

Securities Issued

1,808

1,773

Provisions of Loans

(18,240)

(16,630)

Deposits from other banks

29,148

24,535

Net Loans

514,584

453,793

Borrowings

22,011

15,125

Reverse Repo

5,236

778

Other Int. Bearing Liabilities

21,202

11,786

Other Provisions

(2,341)

(2,015)

Non Int. Bearing Liabilities

60,676

55,613

Deferred Tax Assets

3,710

3,755

Equity incl. Minority Interest

104,791

89,041

Other Assets

28,366

22,405

Strong Revenue Growth

Summary P&L

Q1

Q4

Q1

Y-o-Y

Q-o-Q

2015

2014

2014

∆(℅)

∆(℅)

Interest Income

17,117

17,363

14,313

19.6%

(1.4%)

Interest Expense

6,853

6,536

5,064

35.3%

4.9%

Net Interest Income

10,264

10,827

9,249

11.0%

(5.2%)

Net Premium Income

681

697

584

16.5%

(2.3%)

Net Interest Income & Premium Income

10,945

11,524

9,833

11.3%

(5.0%)

Other Non Interest Income

* Other Fees and Commissions

2,349

2,534

2,130

10.3%

(7.3%)

* Foreign Exchange Gains - Net

388

399

404

(4.1%)

(2.9%)

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

230

111

158

45.9%

107.7%

11

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

230

111

158

45.9%

107.7%

* Others

911

1,132

835

9.0%

(19.5%)

Total Non Interest Income

3,877

4,176

3,528

9.9%

(7.2%)

Total Operating Income

14,822

15,700

13,361

10.9%

(5.6%)

Provisions, Net

(1,549)

(1,779)

(1,217)

27.3%

(12.9%)

Personnel Expenses

(2,920)

(2,807)

(2,626)

11.2%

4.0%

G&A Expenses

(2,574)

(3,488)

(2,309)

11.5%

(26.2%)

Loss from decr. in value of Sec & Gov Bonds

-

-

-

-

-Other Expenses

(987)

(620)

(745)

32.5%

59.3%

Total Expense

(6,481)

(6,914)

(5,681)

14.1%

(6.3%)

Profit from Operations

6,791

7,007

6,463

5.1%

(3.1%)

Non Operating Income

2

10

(4)

N/A

N/A

Net Income Before Tax

6,794

7,016

6,459

5.2%

(3.2%)

LDR Increased to 84.4%, Bank-Only Loan Growth of 15.3%

1 7 5 .2 1 8 1 .6 1 8 8 .3 1 9 8 .5 2 0 1 .9 2 1 8 .0 2 3 1 .9 2 4 6 .2 2 5 1 .8 2 7 6 .7 2 9 7 .5 3 1 4 .4 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 63.2% 62.2% 62.8% 61.4% 64.1% 66.3% 71.7% 67.6% 70.2% 75.9% 78.7% 74.1% 80.7% 83.4% 84.4% 83.5% 85.0% 87.3%84.5% 88.0% 87.0% 82.9% 84.4% Loans (Rp tn) LDR (%)

Quarterly Loan Data

(Consolidated)

38.542.5 44.1 46.5 46.349.0 52.0 57.355.3 16.819.0 20.7 23.9 24.9 27.0 28.2 31.0 32.7 36.037.2 40.7 43.344.5 47.749.3 52.4 55.2 56.6 57.4 60.3 62.4 64.765.7

Quarterly Loan Segment Details

(Bank Only)

Y-o-Y

Total Break down 1 7 5 1 8 1 1 8 8 1 9 8 2 0 1 2 1 8 2 3 1 2 4 6 2 5 1 2 7 6 2 9 7 3 1 4 3 2 7 3 5 0 3 6 5 3 8 8 3 9 1 4 2 8 4 5 0 4 7 2 4 7 0 4 8 5 5 0 6 5 3 0 5 3 2 1 Q '0 9 2 Q '0 9 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 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

1.4%3.7%3.7%_5.5%1.7%

7.9%6.4% 6.2% _2.3% 9.9% 7.5% 5.7% 4.1%7.1% 4.2% 6.5% 0.7% 9.5% 5.1% 4.8% -0.4% 3.3% 4.2% 4.6% 0.5% 30.5% 21.4% 15.7% 13.8% 15.3% 20.0% 23.2% 24.0% 24.7% 26.9% 28.3% 27.7% 30.0% 26.6% 22.8% 23.7% 19.7% 22.3% 23.4% 21.5% 13.3% 12.4% 12.2%13.3% 1 Q '0 9 2 Q '0 9 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 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

QoQ Growth (%) YoY Growth (%)

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

.4 ₅4.2 58

.6 6 4 .7 6 4

.5 70

.7 ₇5.3 ₈1.1 82 .9 ₉0.1 93

.6 1 0 3 .0 1 0 2

.3 10

4

.4

1

1

8

.2 ₁17

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

14.415.816.617.418.0 19.720.7 22.824.5 25.927.7 30.330.9 33.235.138.5 38.542.5 4.64.85.1

5.4 5.66.0

6.57.3 7.7 8.5 9.511.8 13.1 15.116.8 19.0 19.720.621.7 23.624.8 26.728.6 30.732.4 34.3 36.339.0 40.7 1 Q '0 9 3 Q '0 9 1 Q '1 0 3 Q '1 0 1 Q '1 1 3 Q '1 1 1 Q '1 2 3 Q '1 2 1 Q '1 3 3 Q '1 3 1 Q '1 4 3 Q '1 4 1 Q '1 5

Corporate Commercial Small Micro Consumer

As of Mar 2015; Non-consolidated numbers

104.5% 95.9% 111.0% 86.6% 91.5% 89.0% 90% 100% 110% 120% 60 70 80

Prudent Management of FX Balance Sheet

USD Billion

Rp Trillion (Bank Only)

Breakdown of FX lending (Bank Only)

1Q ’15 (Total USD 5.623 Bn)

0.65 0.73 0.91 1.43

Oth

Mining

Oil & Gas

Mfg

% (YoY)

9% -26% -4% 110%

FX Loans & LDR

3 4 .5 6 3 5 .2 4 3 7 .8 3 3 6 .4 9 3 5 .6 4 3 1 .1 5 2 9 .1 9 2 9 .7 5 3 0 .6 2 3 3 .9 6 3 5 .6 8 3 8 .8 6 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 80.5% 78.3% 68.5% 61.9% 68.2% 71.7% 76.3% 80.7% 86.6% 82.9% 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% 50% 60% 70% 80% M a r 0 8 Se p 0 8 M a r 0 9 Se p 0 9 M a r 1 0 Se p 1 0 M a r 1 1 Se p 1 1 M a r 1 2 Se p 1 2 M a r 1 3 Se p 1 3 M a r 1 4 Se p 1 4 M a r 1 5 20 30 40 50

Loan Fx

LDR FX

0.01 0.09 0.11 0.38 0.40 0.41 0.51

Soc Serv

Constr

Utilities

Agri

Trading

Trans

Bus Serv

106%

68.98

30.57

32.55

5.66

4.00

0.95

Rp 68.98 tn in Loans Disbursed in 1Q 2015

Loan Movement (Rp tn) – Bank Only 1Q (2015)

Loan Disbursement by Segment in 1Q (Rp tn) – Bank Only

17.24

6.11

7.57

3.84

14

475.27 478.52

FY'14 Disburs. Install. Payment Pay-off FX

Impact

Write-Offs

1Q '15

34.23

17.24

68.98

3 5 2 .5 4 0 0 .2 4 9 1 .3 5 1 4 .9 5 3 8 .5 31.3% 26.4% 23.4% 27.7% 25.3% 23.2% 24.6% 20.8% 15.7% 15.4% 13.4% 15.3% 15.5% 14.9% 16.6% 17.9% CAR* 4,869 4,385 5,401 5,418 Q4 PAT Q3 PAT Q2 PAT Q1 PAT IDR bn

19.4% ROE, Supported by a Strong Capital Position

Bank Only - Capital & RWA Movement

Profit After Tax & ROE

21.5% 26.2% 23.6% 22.8% 2.5% 10.0% 15.8% 18.1% 22.1% 24.2% 22.0% 22.6% 22.2% 21.0% 19.4% RoE - AT

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

RWA (Rp tn) Total Capital (Rp tn)

15.3% 14.9%

308 1,168 1,549

1,744

519 510 1,027 1,390 1,400

2,003

2,681 3,403 4,303

4,925 5,138 1,300

602 690

1,329

97 305

1,113 1,221 1,526

2,031 2,543 3,744 3,991 4,660 967 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 2 0 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 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

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 2014 was 17.39%

15

*1.1Tn from GIAA Recovery

Q1 NIM of 5.4% as Yield on Assets Decreased 48bps

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% 9.6% 9.6% 9.1% 7.3% 6.4% !! "! !" # $ !

Quarterly Net Interest Margins

Quarterly Yields & Costs by Currency

11.2% 11.1% 12.1% 12.9% 12.8% 12.2% 13.1% 12.7% 11.8% 12.1% 11.9% 12.5% 11.4% 11.8% 11.3% 11.2% 10.8% 11.1% 11.8% 11.8% 12.0% 12.4% 12.2% 12.1% 7.9%

10.6% 8.5% 7.2% 6.8%

6.2% 6.5% 4.9%

3.9% 3.3% 4.0% 3.9%4.7% 5.3%

5.9%

5.7% 6.0%6.4% 4.5% 4.0% 5.8% 5.9% 5.3% 4.7% 4.4% 4.3% 4.2% 4.2% 3.1%

3.0%3.1%3.3%3.7% 3.9% 4.6% 4.4% 4.5% 0% 5% 10% 15% 20%

IDR

16

4

.3

%

3

.6

%

4

.9

%

4

.7

%

5

.1

%

5

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%

6

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%

5

.4

%

5

.5

%

5

.3

%

4

.9

%

5

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%

5

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%

5

.2

%

6

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%

5

.8

%

5

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%

5

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%

5

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%

5

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%

5

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%

5

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%

5

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%

5

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%

5

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%

5

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%

5

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%

6

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%

5

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%

5

.9

%

5

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%

5

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%

5

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%

4 Q '0 4 4 Q '0 5 4 Q '0 6 4 Q '0 7 1 Q '0 8 2 Q '0 8 3 Q '0 8 4 Q '0 8 1 Q '0 9 2 Q '0 9 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 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 4.8% 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% 3.9% 3.8% 3.9% 6.6% 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% 4.5% 6.6% 4.2% 3.4% 2.7% 2.6%3.0% 2.7% 2.3% 2.1% 1.5% 0.8% 0.7% 0.8% 0.3% 0.5% 0.6% 0.6% 0.7% 0.7% 0.7% 0.6% 0.6% 0.7% 0.8% 0.7% 0.7% 0.9% 1.1% 0% 5% 1 Q '0 8 2 Q '0 8 3 Q '0 8 4 Q '0 8 1 Q '0 9 2 Q '0 9 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 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 0%

Avg Loan Yield Avg Bond Yield Avg COF

FX

Greater Detail On Fee-Based Income

Breakdown of 1Q 2015 Non-Loan Related Fees & Commissions (Rp bn)

Non-Loan Related Fees & Commissions

1Q-2015

4Q-2014

1Q-2014

Y-o-Y

Q-o-Q

Δ%

Δ%

Administration Fees

644

707

644

0.0%

(8.9%)

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

253

258

230

10.0%

(1.9%)

Subsidiaries

376

339

379

(0.8%)

10.9%

Transfer, Retail Transaction

443

543

334

32.6%

(18.4%)

Credit Cards

379

410

291

30.2%

(7.6%)

Mutual Fund, ORI & Bancassurance

93

94

86

8.1%

(1.1%)

17

Mutual Fund, ORI & Bancassurance

93

94

86

8.1%

(1.1%)

Syndications

7

52

24

(70.8%)

(86.5%)

Payroll Package

17

18

17

0.0%

(5.6%)

Others

137

113

124

21.2%

3.78%

Total

2,349

2,534

2,130

10.3%

(7.3%)

Foreign Exchange Gains

388

399

404

(4.0%)

(2.8%)

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

230

111

158

45.6%

107.2%

Cash Recoveries

535

771

526

1.7%

(30.6%)

Total Fee Based Income (As Reported)

3,877

4,176

3,528

9.9%

18.4%

Total Operating Income

14,822

15,700

13,361

10.9%

(5.6%)

35.1% 42.8% 39.3% 43.2% 39.0% 38.4% 38.1% 45.1% 32.4% 37.3%39.0% 41.6% 44.0% 43.2% 42.7% 51.3% 41.1% 43.1% 42.5% 48.4% 41.8% 43.2% 46.6%44.4% 44.4% CIR (%)

1Q Cost to Income Ratio of 44.42 %

Breakdown of 1Q 2015 Operating Expenses

Quarterly Consolidated Operating Expenses & CIR

1Q 2015 4Q 2014 1Q 2014 Growth

QoQ YoY

Personnel Expenses

Base Salary 759 675 688 12.5% 10.4%

Other Allowances 1,403 1,261 1,234 11.3% 13.7% Post Empl. Benefits 92 82 100 11.4% (8.2%)

Training 34 187 78 (81.8%) (56.4%)

Subsidiaries 632 602 527 4.9% 20.0%

18

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

8 1,3

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

G&A Expenses Personnel Expenses

35.1%

32.4%

*Reclassification of LPS fee from interest expense to other expense of Rp 302bn in 1Q 2015 and Rp 269bn in 1Q 2014

Subsidiaries 632 602 527 4.9% 20.0%

Total Personnel Expenses 2,920 2,807 2,626 4.0% 11.2%

G&A Expenses

IT & telecoms 392 441 330 (11.1%) 18.7% Occupancy Related 567 787 444 (28.0%) 27.7% Promo & Sponsor 165 357 206 (53.8%) (20.1%) Transport & Travel 122 209 125 (41.4%) (2.2%) Goods, Prof. Svcs. & Oth. 280 517 311 (45.8%) (10.1%) Employee Related 448 491 365 (8.6%) 23.0%

Subsidiaries 599 686 527 (12.7%) 13.8%

Total G&A Expenses 2,574 3,488 2,309 (26.2%) 11.5%

Other Expenses 987 620 745 59.3% 32.5%

Breakdown of Net Expansion in Corporate Lending

Q1 ’15 – Q1 ’14 (Total Rp8.41 tn)

879 1,261 1,541 5,550 5,734

Mining-Metal Ore Mfg-Metal Constr Bus Serv Mfg-F&B

%

68.21%

66.02%

18.33%

15.01%

Breakdown of Net Expansion in Commercial Lending

Q1 ’15 – Q1 ’14 (Total Rp28.68 tn)

2,228 2,390 3,236 3,716 4,573

Mfg-RawM Mfg-Oth Plantations Bus Serv Trad-Distr

%

15.94%

12.96%

11.28%

8.33%

7.77%

Diversifying our Strength in Wholesale Lending…

Rp Billion

-10,309

463 515 606 696

717 752 879

Oth Soc Serv Livestock Mining-Coal Mfg-RawM Mfg-NonM Agri Equip

Mining-Metal Ore _10.46%

8.95%

8.53%

8.28%

7.21%

6.13%

5.51%

-122.63%

Rp Billion 1,391

1,450 1,451 1,489 1,497 1,731 1,763 1,768 2,228

Mining-Oil & Gas Mfg-Chem Constr Mass Trans Mfg-Text Oth Mfg-P&P Trad-Oth

7.77%

6.16%

6.15%

6.03%

5.22%

5.19%

5.06%

5.05%

4.85%

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* ) 3 8 .4 % Y o Y G ro w th 8 1 .8 6 % Y o Y G ro w th 745 2,414 4,066 6,153 7,784 10,943 11,899 12,112 12,366 12,652 12,932 13,162 13,437 13,629 13,873 14,105 2006 2007 2008 2009 2010 2011 2012 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 58,055 62,257 61,691 53,604 74,116 89,959 74,334 73,192 66,920 92,594 -10,000 20,000 30,000 40,000 50,000 60,000 2007 2008 2009 2010 2011 2012 2013 2014 1Q14 1Q15

2

0

248 677 1,178 2,201 2,657 3,598 3,989 4,484 4,832 4Q10 4Q11 4Q12 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 *

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Growing Volume in Wholesale Transaction Business

Forex

3

4

4

2

6

3

6

1

5

6

1

6

1

4

281,153310,512

322,795 399,500 379,730

115,460 127,407

-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

Value (USD Billion) # of Trx

Mandiri Cash Management*

5

4

9

8

1

8

1

,5

1

9

2

,2

3

1

3

,1

2

0

6

3

5

8

9

4

2,503

7,668

13,676 24,543

44,184

7,971

14,495

-15,000 -5,000 5,000 15,000 25,000 35,000 45,000

200.0 700.0 1,200.0 1,700.0 2,200.0 2,700.0 3,200.0

Value (IDR Trillion) # of Trx (000)

Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Mar 14 Mar 15

21

Trade Transaction : Export, Import, Domestic

*) _{Exclude Mandiri Transaction System}

8

5 ₁10 ₁25 33_{1 1}37 ₃3 ₃0

495,813

510,916

517,251

520,948

509,207

117,125 127,556

-40,000 60,000 160,000 260,000 360,000 460,000 560,000

-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 Mar 14 Mar 15 Value (USD Billion) # of Trx

Wholesale Remittance

7

0

9

4

1

2

1

1

3

5

1

4

6

3

4

3

2

435,866 448,219

599,909 651,241

739,046

168,877 201,050

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

-20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0

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

Value (USD Million) # of Trx

-25,000 (300.0)

84.5 100.1 108.3 120.0 119.2 6.4 7.0 6.3 7.0 7.2 9.5 9.0 300 320 340 360 380 400 420

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

Retail Deposits Increased by 12.7% Y-o-Y

Retail Deposit Analysis – Bank Only

4.2% 6.8% 6.3% 9.3% 9.5% 8.7% 7.2% 6.5% 6.9% 6.3% 6.5% 6.5% 5.7% 4.9% 4.9% 5.0% 5.5% 6.6%7.0% 7.3% 8.3% 7.9% 7.8% 5% 10% 15% Rp DD Rp Savings Rp TD

Average Quarterly Deposit Costs (%)

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

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

5.1 6.2 5.16.1 6.8 6.9

7.48.19.310.2

11.011.011.711.9 11.5 11.312.712.8 13.0 13.7 14.715.6 18.4 20.7 21.0 22.021.8 24.0 22.2

4.45.15.36.8 5.6 6.1

8.09.48.28.8

9.111.110.5 11.912.2 15.714.615.4 16.1 18.6 17.016.7 28.6 33.0 29.7 33.6 34.4 40.2 33.5 1.41.4

1.81.72.32.5 2.4

2.7 2.72.7 3.3

3.2 3.53.5 4.1 4.2 4.34.3 10.7 11.4 12.1 11.913.1 13.0 12.8 44.442.050.6 63.462.965.1 68.768.571.870.6 68.7 70.569.068.6 70.8 73.171.670.3 71.5 71.4 72.170.7 80.2 84.5 88.4 100.1

5.0 5.1 5.4

7.7 7.47.4

7.56.8 6.0 5.7 5.8

5.8 5.3 5.2 5.2

5.3 5.05.0 5.1 5.0 4.74.6 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 1 Q '0 8 2 Q '0 8 3 Q '0 8 4 Q '0 8 1 Q '0 9 2 Q '0 9 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 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 2.5% 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%2.1%1.9% 3.2% 3.0% 3.3% 2.5% 2.6% 2.1% 2.2%2.4%1.8% 1.5% 1.6% 1.5% 1.6% 1.5%

1.5%1.6% 1.5%1.4%1.3% 5.0% 5.1% 5.0%

5.5% 0% 5% 2.4% 1.6%1.8% 0.9%

0.9% _{0.1% 0.1%}

0.1% 0.3%0.3%0.2%_0.2%0.3%_0.3%0.3%0.3%0.3% 0.3% 0.3% 2.6% 2.9% 2.8% 3.7% 3.9% 3.0% 1.9%

0.3% 0.5% 0.4% 0.8% 0.7% 0.7% 0.5% 0.6% 0.8% 1.2% 1.2% 1.1% 1.3% 1.8% 0% 2% 4% 1 Q '0 8 2 Q '0 8 3 Q '0 8 4 Q '0 8 1 Q '0 9 2 Q '0 9 3 Q '0 9 4 Q '0 9 1 Q '1 0 2 Q '1 0 3 Q '1 0 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

FX DD FX TD

27.7% 28.6% 27.6% 28.3% 29.6% 29.6% 29.8% 30.2% 30.9% 31.8% 31.7% 31.3% 31.2% 31.8% 32.6% 32.5% 33.2% 33.1% 26% 28% 30% 32% 34% 80,000 90,000 100,000 110,000 120,000 130,000 140,000 150,000 160,000 170,000

Building our High Yield Business in Retail Lending

Retail to Total Loans

Retail to Total Loans

(Rp Bn) Business Banking (Rp Bn) Micro Credit 28,205 37,227 9,022

1Q2014 Growth 1Q2015

YoY 32.0%

6

0

,6

7

6

6

3

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2

3

6

6

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5

1

7

3

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7

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20% 22% 24% 30,000 40,000 50,000 60,000 70,000 80,000 4 Q 2 0 1 0 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

Retail to Total Loans

Micro Credit Business Banking Consumer

Finance

23

(Rp Bn)

57,371 65,650

8,279

1Q2014 Growth 1Q2015

YoY 14.4%

Consumer Finance

46,281 55,296

9,015

1Q2014 Growth 1Q2015

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760 751

738 739 739 706 703

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200 300 502 687 697 713 754 898 897

600 800 800 878 928 1,027 1,028 1,072 1,110 1,127 1,128

10 152 480

710 760

2008 2009 2010 2011 2012 2013 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15

2

7

1

4

3

0

5

6

2

6

9

4

2008 2009 2010 2011 2012 2013 1Q '14 2Q '14 3Q '14 4Q '14 1Q '15

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

…as well as Consumer Lending, which Rose 14.43%

Y-o-Y as Auto Lending Remains Strong

5 ,1 9 5 ,3 0 3 5 ,6 2 0 5 ,5 5 7 6 ,8 5 5 7 ,5 6 8 8 ,2 8 8 8 ,3 4 3 6 , 6 ,6 7 ,2 0 9 7 ,4 8 6 7 ,9 0 5 9 ,0 1 3 1 0 ,2 1 8 1 1 ,0 8 3 1 2 ,2 6 0 1 3 ,2 7 1 1 3 ,9 8 3 1 4 ,8 9 0 964

1,016 1,037 1,010

966 927

904

809 840 805

765

750 683

40,000 42,500 45,000 47,500 50,000 52,500 55,000 57,500 60,000 62,500 65,000 67,500 70,000 Other Auto

Credit Cards Payroll Loans Home Equity Loans Mortgages

Loan Type

Growth (%)

Y-o-Y

Q-o-Q

Other

(17.75%)

(5.75%)

Auto Loans*

34.35%

6.49%

Quarterly Consumer Lending Balances by Type

Consumer Lending Growth by Type

Rp65.7 tn

25

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

3 20 57

2 ,8 2 6 3 ,4 5 4 3 ,4 9 2 4 ,2 0 0 5 ,1 1 5 5 ,8 2 9 6 ,5 9 3 6 ,6 0 9 0 9 447

698 791

873 928 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 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

Credit Cards

50.16%

0.67%

Payroll Loans

21.56%

2.49%

Home Equity Loans

4.85%

0.11%

Mortgages

(1.81%)

(1.09%)

Total Consumer

14.43%

1.46%

Enhanced Transaction Capabilities

Quarterly Transaction Volume (Mn)

Quarterly Transaction Value (Rp tn)

Quarterly Users (Mn)

142.0 148.1 168.1 186.2 189.4 204.0 226.6 218.1 222.3 232.9236.3 234.7 243.5 246.1250.8 249.0 155 180 205 230 255 280 ATM Branch Mobile Banking Internet Banking 130.8 147.7 153.8 159.9 170.0 177.3 179.3 184.1 191.2 197.0 192.6 206.4 208.1 213.1 210.0 140 160 180 200 220 240 ATM Mobile Banking Internet Banking 9.95 7.67 8.068.35 8.72 8.17 8.96 9.24 9.65 9.99 _10.16 10.57 _10.89 11.10 11.39 11.59 11.65 11.82 12.12 8 10 12

14 _{Debit Cards}

Mobile Banking Internet Banking

* Inactive cards have been purged 122.9 142.0 141.9 148.1 42.338.641.740.8 43.040.7 44.7 45.3 39.1 45.4 43.8 51.0 53.2 46.5

7.911.615.015.421.3 25.4 26.2 27.3 34.5 30.833.0 57.4 70.0 100.1 112.5

8.316.5 26.6 31.8 49.7 68.5 77.8 84.7 85.3 66.7 66.8 76.7 85.3 81.0 87.8 88.7 126.9 116.6 -20 5 30 55 80 105 130 155 Q 1 '0 9 Q 2 '0 9 Q 3 '0 9 Q 4 '0 9 Q 1 '1 0 Q 2 '1 0 Q 3 '1 0 Q 4 '1 0 Q 1 ' 1 1 Q 2 '1 1 Q 3 '1 1 Q 4 '1 1 Q 1 '1 2 Q 2 '1 2 Q 3 '1 2 Q 4 '1 2 Q 1 '1 3 Q 2 '1 3 Q 3 '1 3 Q 4 '1 3 Q 1 '1 4 Q 2 '1 4 Q 3 '1 4 Q 4 '1 4 Q 1 '1 5

26

77.1 95.5 97.1 107.5 130.8

1.4 2.12.62.9 5.0 8.8 5.5 5.5 8.3 9.2 10.514.925.3 28.3 40.0 35.7

4.8 7.18.7 11.7

16.321.523.5_25.6 26.8 28.7 29.432.2 33.3 36.0 33.3 46.146.7 0 20 40 60 80 100 120 Q 1 '0 9 Q 2 '0 9 Q 3 '0 9 Q 4 '0 9 Q 1 '1 0 Q 2 '1 0 Q 3 '1 0 Q 4 '1 0 Q 1 ' 1 1 Q 2 '1 1 Q 3 '1 1 Q 4 '1 1 Q 1 '1 2 Q 2 '1 2 Q 3 '1 2 Q 4 '1 2 Q 1 '1 3 Q 2 '1 3 Q 3 '1 3 Q 4 '1 3 Q 1 '1 4 Q 2 '1 4 Q 3 '1 4 Q 4 '1 4 Q 1 '1 5 7.20 8.17 2.16 3.17 4.21 4.614.61 5.08 5.29 5.47 5.63 5.74 5.80 5.97 6.09 6.21 6.33 6.55 6.626.69

Retail Payment system gaining Traction

Numbers of EDC

, ,

, ,

Volume Mandiri Business

Saving Account (Tn)

85.8 102.3

79.4 87.5

10.2% YoY Growth

Fee Income from e-channel Tx (Bn)

512.9 664.8

Q4 Q3 Q2 Q1

27

,

, , ,

, ,

2

0

0

7

2

0

0

8

2

0

0

9

2

0

1

0

2

0

1

1

2

0

1

2

2

0

1

3

2

0

1

4

Q

1

2

0

1

5

3.5 4.8 8.0 17.7

34.7 59.4

2

0

0

7

2

0

0

8

2

0

0

9

2

0

1

0

2

0

1

1

2

0

1

2

2

0

1

3

2

0

1

4

1

Q

2

0

1

4

1

Q

2

0

1

5

52.1 89.4 126.2

200.3 258.2 315.2 347.6 414.7

604.3

65.5 98.5 166.6

196.5 285.7

318.6 382.0 490.3

81.9 110.5

194.5 249.3

313.9 361.8

437.5 489.2

89.0 117.8

223.7 268.5

312.8 464.4

2007 2008 2009 2010 2011 2012 2013 2014 Q1'15

Making Inroads into SME and Retail Payments

# SME Business w/ Mandiri Acc

# MTB Transaction & Volume

2

0

1

,1

0

6

2

1

2

,8

4

4

2

6

1

,9

3

5

2

6

5

,4

2

3

2

7

2

,2

1

2

2

9

0

,0

1

9

3

0

6

,8

3

1

3

4

9

,8

6

8

2

9

9

,4

1

7

9,235 10,601

11,385 12,616

12,773 14,068

14,508 16,052

15,996

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

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

Q1'13 Q3'13 Q1'14 Q3'14 Q1'15

543,972

643,334

789,300 807,496

28

Fiesta Point Program

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

Mandiri Belanja Untung Program

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

Belanja Hoki/ Dagang Hoki Program

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

# MIB Transaction Value & Users

Q1'13 Q3'13 Q1'14 Q3'14 Q1'15 # of Volume # of Transactions (000)

2012 2013 2014 Q1 2015

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

11,535 13,542

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

22,570 24,676

26,441

1 8 ,0 0 0 2 0 ,0 0 0 2 2 ,0 0 0 2 4 ,0 0 0 2 6 ,0 0 0 2 8 ,0 0 0 3 0 ,0 0 0

N

P

L

M

o

ve

m

e

n

t

-C

o

n

so

lid

a

te

d

1 2 2 .5 % 1 3 8 .9

% 12

7

.1

% 13

Q1 Total NPLs of Rp8.71 tn with Rp949 bn in Write-Offs

Movement by Customer Segment (Rp Bn)

7.92

0.08

1.60

0.13

0.95

0.35

8.71

Non-Performing Loan Movements (Rp tn) – Bank Only

232

1400 1600 1800

Corp Comm Small Micro Cons

30

Non-Performing Loans by Segment

4Q '14 UG to PL DG to NPL Payment Write-Offs Other 1Q '15

* excluding loans to other banks

NPLs 1Q NPLs

(Rp tn) (Rp tn) (%)

Corporate 2.70 (0.02) 1.54%

Commercial 1.47 0.07 1.01%

Small 1.91 0.42 3.45%

Micro 1.24 0.18 3.34%

Consumer 1.38 0.13 2.11%

Total 8.71 0.79 1.81%*

84

189 115

16

700

214

16

480

229

49

307

0 200 400 600 800 1000 1200

Total Loans originated since 2005

Net

Upgrades(%)

/

Downgrades(%)

#

1Q 2015 Details

Loan Background

1Q’15

Balance

(Rp bn)

1Q

2013

2Q

2013

3Q

2013

4Q

2013

1Q

2014

2Q

2014

3Q

2014

4Q

2014

1Q

2015

DG to

NPL

%

UG to

PL

%

Corporate

167,848

0.00

0.01

0.00

0.00

0.10

-

-

0.06

-

-

-Commercial

139,370

0.24

0.05

0.10

0.01

0.08

0.04

0.12

0.37

0.13

0.14

0.00

1Q 2015 Annualized Net Downgrades of 1.3% on Loans

Originated Since 2005

Commercial

139,370

0.24

0.05

0.10

0.01

0.08

0.04

0.12

0.37

0.13

0.14

0.00

Small

52,247

1.28

0.59

1.05

0.64

0.97

0.70

0.45

0.31

1.29

1.32

0.03

Micro

37,207

1.25

1.10

1.18

0.89

1.16

1.26

1.19

0.83

1.25

1.29

0.04

Consumer

65,356

0.28

0.18

0.17

0.07

0.35

0.20

0.20

0.09

0.28

0.35

0.07

Total

462,029

0.34

0.18

0.25

0.13

0.30

0.21

0.20

0.25

0.33

0.34

0.02

# %

downgrades

and

upgrades

are quarterly % figures

R

e

st

ru

ct

u

re

d

L

o

a

n

s

1

7

.0

1

9

.0

2

1

.0

2

3

.0

2

5

.0

D

e

cl

in

in

g

R

e

st

ru

ct

u

re

d

L

o

a

n

s

Si

n

ce

2

0

0

5

A

n

n

u

a

liz

e

d

R

e

la

p

se

d

R

a

te

o

f

R

e

st

ru

ct

u

re

d

L

o

a

n

P

o

rt

fo

lio

2

.0

%

2

.5

%

3

.0

%

19 .4 18 .8 18 .6 17 .4 20 .3 23 .1 21 .5 22 .3 21 .7 18 .4 16 .9 16 .2 16 .6 16 .4 16 .2 17 .2 17 .1 17 .1 15 .3 15 .2 14 .3 13 .1 13 .6 13 .5 13 .5 14 .2 13 .9 14 .0 11 .7 11 .7 .0 12

12 .5 12 .6 11 .2 11 .4 9.9 11 .7 14 .3

5

.0

7

.0

9

.0

1

1

.0

1

3

.0

1

5

.0

4Q '05 1Q '06 2Q '06 3Q '06 4Q '06 1Q '07 2Q '07 3Q '07 4Q '07 1Q '08 2Q '08 3Q '08 4Q '08 1Q '09 2Q '09 3Q '09 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 1Q'11 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15

3

2

1.2

%

2.7

%

0.0

%

0.3

%

0.0

%

0.0

%

0.0

%

0.0

%

0

.0

%

0

.5

%

1

.0

%

1

.5

%

Total Assets Rp67.2 tn

Bond Trading Volume Rp21.2 tn

Total Assets Rp22.7 tn

Total Loans Rp962.0bn

Total Financing Rp3.7tn

Total Financing Rp48.8 tn

Equity & FI Underwriting Rp1.2 tn

Annual FYP Rp648 bn

Net Interest Margin 10.61 %

Net Interest Margin 3.56%

Total Deposits Equity Trading Volume ROA ROA ROA

Enhancing Synergies & Value from Subsidiaries

Investment Banking Investment Banking Syariah Banking

Syariah Banking InsuranceInsurance Niche BankingNiche Banking

Bank Sinar Harapan Bali

Multi-Finance Multi-Finance

Total Deposits Rp59.8 tn

Equity Trading Volume Rp36.6 tn

ROA 6.12%

ROA 2.22%

ROA 5.51%

ROE 7.92%

ROE 4.8%

ROE 72.3%

ROE 15.28%

ROE 32.66%

• 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 Bank Mandiri’s network and customer throughout Indonesia to develop multi-finance segment, especially in vehicle-ownership financing.

A

X

A

M

a

n

d

ir

i F

in

a

n

ci

a

l S

e

rv

ic

e

s

P

e

rf

o

rm

a

n

ce

N e t P ro fi t A ft e r Ta x ( in B n ) A n n u a l F ir st Y e a r P re m iu m ( A F Y P ) (i n B n ) # O f P o li cy h o ld e rs 3 .5 6 % Y o Y G ro w th 3 4 .3 2 % Y o Y G ro w th 90 245 235 171 183 237 255 258 234 262 259 298 270 269 256 348 297 316 308 360 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

3

4

599 549 673 820 742 769 946 796 892 712 667 695 850 726 774 611 832

1,314 648

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

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

36 78 47 107 120 203 67 41

203 811

1,073 1,203

1,410 1,400

394 ₃₅₁

0 50 100 150 200 250

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

2009 2010 2011 2012 2013 2014 1Q 1Q

35

products to InHealth healthcare provider

Cross-selling Mandiri products to InHealth

members

InHealth has nearly 6,000 healthcare providers and recorded over Rp. 206 billion in claims year to date 2015

Bank Mandiri will leverage the hospital network as InHealth’s partner to increase transactions through enhanced cash management products

Bank Mandiri also will provide retail packaged products for all the doctors as InHealth’s partner

InHealth earned premium payments of Rp. 351 billion in 2015 year to date from clients. Going forward, Bank Mandiri will encourage the use of cash management products through Bank Mandiri’s distribution channel and cross-sell other product to over 1.1 million InHealth member

6

9

2

,8

3

1

1

,0

2

3

,2

2

8

1

,1

7

5

,2

4

0

1

,1

1

8

,2

0

6

1

,1

4

1

,8

9

6

1

,0

8

7

,3

1

3

8

4

8

,9

9

7

5,501

6,242 6,314 6,262

6,094 6,189

6,086

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 2014 1Q

2015 Total Member # of Providers

2009 2010 2011 2012 2013 2014 1Q

Bank Mandiri’s 2015 Corporate Guidance

2015 Target

1Q2015 Realization

Gross Loan Growth (YoY)

15%-17%

13.3%

Low Cost Deposits

Rp 435 tn

Rp 372 tn

Net Interest Margins

>6.05%

5.62%

Efficiency Ratio

<45%

44.41%

Gross NPLs

2.00%

2.27%

Gross NPLs

2.00%

2.27%

Cost of Credit

~1.2%-1.3%

1.17%

# of New ATMs

2,500

100

# of New EDCs

40,000

12,090

# of New Micro Outlets

300

4

# of New Conventional Branches

50

5

Operating Performance

Highlights

37

Corporate Banking:

Contribution Margin increased on provision

Performance to Date: 1Q 2015 (Rp Bn)

Strategies for 2015

1. Focusing on Anchor Clients and

penetrating through using of

Transaction Banking

2. Account Plan implementation for top

76 Corporate Banking Customers.

3. Provide ‘one stop service’ solutions for

customer’s transactions and create

new business process to accelerate

1,174

478

236 148

1,741

164 1,904

38

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

1. Integrated Wholesale Transaction

Banking.

2.

Broaden product offering and services.

3. Acquire RMB License for Bank Mandiri

Shanghai Branch.

4. Open new Distribution Channel in

BMHK.

5. Increased capacity and business

Treasury & Market

844 110

1,741

13

1,750

Performance to Date: 1Q 2015 (Rp Bn)

Strategies for 2015

39

5. Increased capacity and business

processes for distribution and retail

brokerage.

6. New product innovations to improve

alliances and synergies with Mandiri

Group.

Mandiri Sekuritas’ financial performance

(Rp Bn)

Q1 2014

Q1 2015

Y-o-Y

(%)

Revenues

155,558

137,537

(12)

• Investment Banking

13,481

22,766

69

• Capital Market

83,710

75,811

(9)

• Proprietary

24,807

4,267

(83)

• Investment Mgt

33,559

34,362

2

)

40

)

Operating Expenses

106,495

104,152

(2)

Earnings After Tax

26,175

19,363

(26)

Equity Transactions – bn

31,868

36,625

15

SUN Transactions - bn

26,529

21,192

(20)

Equity & Bonds

Underwritten – bn

1,285

1,150

(11)

ROA

5.8%

3.7%

(2)

Commercial Banking:

Strong revenues from Assets

1.Support Bank Mandiri’s Wholesale

Banking vision as an Integrated

Wholesale Bank through sophisticated,

customized and complete services

leading to increased revenue through

Wholesale Deposit generation and Fee

Income.

2.Increasing profit and market share

1,495

101

203 110

1,689

331

1,358

Performance to Date: 1Q 2015 (Rp Bn)

Strategies for 2015

41

2.Increasing profit and market share

through increasing existing customer’s

share of wallet, increasing revenue from

new customer’s and managing NPL’s.

3.Provide the best total business solutions

for commercial customers by developing

products and services including quality

bundling of products, quick service and

competitive pricing.

4.Effective Alliance in units based on

Commercial Banking :

Stronger Platform & Improved Distribution Capability

Expanding Scope of Distribution, Q1 2015

Solid & Stable Source of

Low Cost Funds

Product Q1

2015

Q1

2014 Growth Demand

Deposit 13.10 9.24 41.77%

Rupiah 7.05 4.58 53.59%

FX 6.05 4.66 29.83%

Rp Tn

Sumatera Loans = Rp 21,3 tn

Funds = Rp 4.6 tn

Kalimantan Loans = Rp 7.9 tn Funds = Rp 1.9 tn

Eastern Loans = Rp 3.8 tn Funds = Rp 0.2 tn

42

Saving

Deposit* 1.81 0.92 96.70% Total CASA 14.91 10.16 46.75%

Total Funding 26.83 15.82 69.60%

CASA Ratio = 55.57%

Funding from Java & Bali = 75.66% of total funding

Java and Bali Loans = Rp 112 tn Funds = Rp 20.1 tn

* Business Savings Product CBC = 24 Unit

Floor = 23 Unit

1.

Continue to develop retail payment

solutions for top retail industry value

chains and business clusters in order

to increase low cost deposit and

fee-based income

2.

Develop customer education to

further increase usage of new retail

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

e-Micro & Business Banking:

Rapidly growing our high margin business

1,175

481

609

2,749

884

Performance to Date: 1Q 2015 (Rp Bn)

Strategies for 2015

43

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

e-channel transactions in order to

increase customer’s loyalty and

balances.

1,701

884

Business Banking :

Medan

Pekanbaru

Pontianak

Samarinda

Manado Pematang siantar

Expanding Scope of Distribution, 2015

Solid & Stable Source of

Low Cost Funds*

Product Q4

2014

Q1 2015

Growth QoQ

Demand

Deposit 45.9 44.0 (-4.2%)

Saving

Deposit 75.9 67.1 (-11.5%) Rp Tn

Sumatera Loans = Rp 14.5 tn Funds = Rp 19.1 tn

Sumatera Loans = Rp 14.5 tn Funds = Rp 19.1 tn

Kalimantan Loans = Rp 7.6 tn Funds = Rp 8.1 tn

Kalimantan Loans = Rp 7.6 tn Funds = Rp 8.1 tn

Eastern Loans = Rp 7.1 tn Funds = Rp 8.7 tn

Eastern Loans = Rp 7.1 tn Funds = Rp 8.7 tn

44

Makassar Banjarmas

in Surabaya Semarang

Denpasar Bandung

Palembang

B.Lampung

Samarinda

Palu _Jayapura

Balikpapan Batam

Jambi Padang

Bekasi Jakarta

Solo Tangerang

Bogor

% &' ! "' " & - % . / !" 0 %! % &' 1

% &' 1 % &' 1

Deposit

Total CASA 121.7 111.1 (-8.8%)

Total

Funding 160.7 149.7 (-6.8%)

CASA Ratio = 74.2%

Funding from Java & Bali = 75.7% of total funding

Java and Bali Loans = Rp 26.2 tn Funds = Rp 113.4 tn

Java and Bali Loans = Rp 26.2 tn Funds = Rp 113.4 tn

Consumer Banking:

Significant growth in spread and fee income

1.

#1 in Auto with new product and 2W

subsidiary build up

2.

#1 position in Credit Card with

innovation and portfolio optimization

3.

#1 in mortgage via new segments and

mandiri synergies

4.

Drive growth in personal loans via new

products and distritbution.

2,611

1,142

458

3,295

384

2,911

Performance to Date: 1Q 2015 (Rp Bn)

Strategies for 2015

46

products and distritbution.

5.

#1 bank for Indonesia’s Gen-Y

6.

Recognized

innovator

in

banking-unbanked.

7.

Extend #1 position in wealthy and

M

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:

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is

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F

B

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ci

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1

Q

2

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1

5

P

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rf

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a

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(R

p

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)

1

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2

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4

C

h

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e

Lo a n s 2 2 ,2 0 8 1 7 ,0 5 4 3 0 .2 3 % N e t In co m e 7 7 5 6 3 2 .9 0 % A p p ro va l R a te (% ) 8 8 .6 8 % 8 7 .9 4 % 0 .8 4 % D is b u rs e m e n t 3 ,5 6 2 3 ,6 9 0 3 .5 9 % 2,22 2,056 2,408 2,206 2,3912,236

JF No

n J F 48 401 372 345 289 232 208 162 149 108 96 1 1 8 10

9 84

Supporting

Materials

48

We are Preparing For Our Next Transformation

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

Gross NPL: 16.3%

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

ROE: 24.24% Gross NPL: 2.42%

2020

Top Bank In ASEAN

Market Cap: >IDR 225 Tn

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

Gross NPL: <4%

2014

2009

2005

Gross NPL: 16.3%

49

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 Consider Growing Beyond the Bank

Bank

Finding Business

Partners

M & A

Revenue Growth FY (Whole

Group): Rp14.6tn (11% YoY)

Profit from Subsidiary:

Rp607bn (11.8% of EAT)

1Q Revenue Wholesale vs

Retail : Rp 5.4tn vs Rp 7.8tn

Our Deal size has continued

to move higher

BSHB

Rp 40bn (2008)

MTF

Rp250 bn (2009)

Inhealth

Rp 1.3 tn (2013)

Bank

& Group

JV with AXA (AMFS). Gross Written

Premiums Rp3.4tn. +12% YoY

JV with Tunas Ridean (MTF). Total

Financing Rp4.0tn. 34% YoY

InHealth

partner BPJS

3,647

6,481

1Q 2015 operating profit increased by 10.7% from 1Q 2014

on higher NII

1Q 2015

1Q 2014

Rp billion

3,370

5,681

Rp billion

51

10,945

8,111

Net Interest Income Fee-Based Income Overhead Expenses &

Others

Pre-provision Operating Profit

Notes :

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

Higher 10.7.%

9,564

7,254

Net Interest Income Fee-Based Income Overhead Expenses &

Others

Committed to Improving Shareholder Value

Reduce Cost of Funds

Improve Assets Yield

Diversify into Fee Income

Reduce Provision/Loan

Competitive.

sustainable