China Petroleum & Chemical Corporation 2007 Annual Results Announcement April 7, 2008 Hong Kong

Disclaimer This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that Sinopec Corp. expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements. Sinopec Corp.'s actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, exploration and development outcomes, estimates of proven reserves, market shares, competition, environmental risks, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, project delay, project approval, cost estimates and other risks and factors beyond our control. In addition, Sinopec Corp. makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements. 2008-4-7

Agenda 2007 Overview 2007 Operational Results 2008 Operational Plan 2008-4-7

2007 Overview

Profit Growth RMB million 2005 2006 2007 07/06 Change Turnover, other revenues and other income 826,825 1,066,902 1,209,706 13.4% EBITDA 99,124 114,186 129,179 13.1% EBIT 67,977 80,632 85,864 6.5% Net profit attributable to shareholders of the Company 41,354 53,603 56,533 5.5% EPS (RMB) 0.477 0.618 0.652 2008-4-7

Financial Position 31 Dec. 2005 31 Dec. 2006 31 Dec. 2007 RMB million 31 Dec. 2005 31 Dec. 2006 31 Dec. 2007 Short-term debts 42,339 44,654 56,467 Long-term debts 63,630 61,617 83,134 Equity attributable to shareholders of the Company 226,099 264,334 307,433 2005 2006 2007 Net cash flow from operating activities 78,663 92,507 119,594 Net cash flow from in investing activities (78,113) (103,385) (113,587) Net cash flow from financing activities (4,257) 2,878 (5,310) 2008-4-7

Financial Position (Continued) Debt/equity and EBITDA/interest coverage ROCE EBITDA/interest coverage Debt/equity(%) 2008-4-7

Dividend Dividend Per Share RMB 2008-4-7

Cost Reduction RMB million 2008-4-7

Capital Expenditure 2007 Capex RMB 109.282 billion E&P: RMB 54.498 billion. Newly added crude oil production capacity was 6.05 million tonnes per year and that of natural gas was 1.66 billion cubic meters per year. Sichuan-East China pipeline project started Refining: RMB 22.763 billion. Qingdao project progressed smoothly; Oil products quality upgrading projects such as Yanshan project commenced production Marketing and Distribution: RMB 12.548 billion. Improved refined oil products distribution network through construction, acquisition and renovation of service stations and oil depots; added 753 new stations Chemicals: RMB 16.184 billion. Major Ethylene projects progressed smoothly. Corporate and others: RMB 3.289 billion RMB Billion 2008-4-7

Technological Innovation Driving corporate development through technological innovation E&P: New technologies such as enhancing oil recovery rate Refining: Substantial progress has been made in technologies to process low-grade crude oil; commercialized technology to produce gasoline and diesel which meet the National IV emission standard (equivalent to Euro IV standard) Chemicals: Developed proprietary technology for 300ktpa polypropylene R&D in new and alternative energies Obtained 616 domestic and 61 foreign patents 2008-4-7

Social Responsibility Ensured stable domestic supply of refined oil products Implemented energy conservation and effluent-reduction measures Energy intensity decreased by 6.1% Fresh water consumption decreased by 4.3% COD in discharged waste water decreased by 5.4% Philanthropic activities Donations to support rescue and rebuilding in Southern China area affected by snow storm disaster early 2008 Sponsored “Health Express” campaign Sponsor of Beijing 2008 Olympics 2008-4-7

2007 Operational Results

Review of Market Environment China’s economy maintained steady and rapid growth GDP increased by 11.4% Domestic consumption of refined oil products grew by 6.8% Domestic ethylene-equivalent consumption grew by 7.8% International crude oil prices kept increasing and rose dramatically in the 4th quarter Domestic refined oil product prices still tightly controlled Chemical product prices remained high 2008-4-7

E&P－Operational Summary 2005 2006 2007 07/06 Change Crude oil production (mm bbls) 278.82 285.19 291.67 2.3% Natural gas production (bcf) 221.9 256.5 282.6 10.2% Lifting cost (RMB/tonne) 488.34 520.44 600.77 15.4% Newly added proved reserves of crude oil (mm bbls) 306 286 21 (92.7%) Newly added proved reserves of natural gas (bcf) 140.6 161.5 3,756.7 2,226.1% 31 Dec. 2005 31 Dec. 2006 31 Dec. 2007 07/06 Change Proved reserves of crude oil (mm bbls) 3,294 3,295 3,024 (8.2%) Proved reserves of natural gas (bcf) 2,951.7 2,856.7 6,330.8 121.6% Proved reserves of oil and gas (mm boe) 3,786 3,771 4,079 8.2% 2008-4-7

E&P－Segment Performance Realized prices of Crude Oil and Natural Gas EBIT of E&P Segment Crude Oil RMB/tonne Natural Gas RMB/’000 cubic meter RMB million 2008-4-7

Refining－Operational Summary 2005 2006 2007 07/06 Change Refinery throughput (mbbls / day) 2,817.9 2,946.5 3,132.9 6.3% Gasoline production (mm tonnes) 22.98 23.00 24.69 7.3% Diesel production (mm tonnes) 54.92 57.86 60.08 3.8% Kerosene production (mm tonnes) 6.63 6.35 8.32 31.0% Light chemical feedstock production (mm tonnes) 21.10 22.74 23.47 3.2% Light yield (%) 74.16 74.75 74.48 (27bps) Refining yield (%) 93.24 93.47 93.95 48bps * The above data does not include production from the five refineries acquired from Sinopec Group Company at end of 2007. 2008-4-7

Refining－Segment Performance Refining Margin / Cash Operating Cost EBIT of Refining Segment Refining Margin (RMB/tonne) Cash Operating Cost (RMB/tonne) RMB million 2008-4-7

Marketing－Operational Summary 2005 2006 2007 07/06 Change Domestic sales of refined oil products (mm tonnes) 104.56 111.68 119.39 6.9% Incl. Retail (mm tonnes) 63.52 72.16 76.62 6.2% Distribution (mm tonnes) 20.38 18.95 20.17 6.4% Wholesales (mm tonnes) 20.66 20.57 22.60 9.9% Total number of service stations 29,647 28,801 29,062 0.9% Incl. Company-operated 27,367 28,001 28,405 1.4% Franchised 2,280 800 657 (17.9%) Annualized throughput of company-operated stations (tonnes/station) 2,321 2,577 2,697 4.7% 2008-4-7

Marketing－Segment Performance RON #90 Gasoline Guidance Price EBIT of Marketing Segment RMB/Tonne RMB million #0 Diesel Guidance Price RMB/Tonne RMB/tonne 2005 2006 2007 Marketing cash operating cost* 118 130 139 * 2005 and 2006’s figures are adjusted to the same basis as 2007 2008-4-7

Chemicals－Operational Summary Unit: 1,000 tonnes 2005 2006 2007 07/06 Change Ethylene* 5,319 6,163 6,534 6.0% Synthetic resins* 7,605 8,619 9,660 12.1% Monomers & polymers for synthetic fibers 6,725 7,242 8,018 10.7% Synthetic fibers 1,570 1,502 1,417 (5.7%) Synthetic rubbers 626 668 800 19.8% Urea 1,780 1,609 1,565 (2.7%) *Includes 100% production from BASF-YPC and Shanghai-Secco. 2008-4-7

Chemicals－Segment Performance Chemicals Price Spread (2002 – Feb. 2008) EBIT of Chemicals Segment RMB million USD/tonne RMB/tonne 2005 2006 2007 Ethylene cash operating cost 1,254 1,282 1,329 2008-4-7

2008 Operational Plan

Prospect for 2008 China’s economy is expected to maintain rapid growth, which will lead to steady growth in demand for oil products and petrochemicals International crude oil prices will remain high, yet refined oil products will still be subject to tight price control in Mainland China Measures to cope with the challenges Leveraging the Company’s unique strengths in oil and gas exploration and development, competitive advantages in refining & marketing as well as chemical businesses, well-established global trading networks Leveraging the advantages of Sinopec Group in engineering services in oil and petrochemical businesses and in its overseas assets 2008-4-7

2008 Operation Estimates 2007 Actual 2008 Estimates Change Crude oil production (mm bbls) 291.67 298.20 2.2% Natural gas production (bcf) 282.6 317.79 12.5% Refinery throughput (mm tonnes) 155.59* 174.00 11.8% Total domestic sales of refined oil products (mm tonnes) 119.39 124.00 3.9% Ethylene production (mm tonnes)** 653.4 672.0 2.8% * Does not include production from the five refineries acquired from Sinopec Group Company at end of 2007. **Includes 100% production from BASF-YPC and Shanghai-Secco. 2008-4-7

2008 Capital Expenditure Estimates Estimated 2008 Capex: RMB121.8 billion E&P: RMB 60.1 billion. Mainly focus on Sichuan-East China Gas Project and development of Tahe, Shengli and Ordos. Refining: RMB 19.9 billion. Qingdao Refinery Project to be completed in 2008, Further progress in refined oil products quality upgrading projects. Marketing and Distribution: RMB 13.0 billion. Improve marketing networks through construction and acquisitions of service stations along expressways and in strategic areas. Chemicals: RMB 25.7 billion for major ethylene projects. Corporate and others: RMB 3.1 billion. RMB billion 2008-4-7

For Further Information http://www.sinopec.com Investor Relations Beijing: Tel: (8610) 64990060 Fax: (8610) 64990489 Email: ir@sinopec.com Hong Kong: Tel: (852) 28242638 Fax: (852) 28243669 Email: ir@sinopechk.com New York: Tel: (212) 759 5085 Fax: (212) 759 6882 Email: fangzq@sinopecusa.com Media Relations Tel: (8610) 64990092 Fax: (8610) 64990093 Email: media@sinopec.com 2008-4-7