28 April 2008 China Petroleum & Chemical Corporation Q Results Announcement

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, 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.

Market Environment in Q Chinas economy maintained rapid growth Domestic consumption of refined oil products and chemicals increased steadily International crude oil prices kept increasing Domestic refined oil product prices still tightly controlled Chemical product prices remained high

Financial Data RMB million Q1 2007Q1 2008Change % Turnover, other revenues and other income277,149339, EBITDA38,30414,374(62.5) EBIT28,6353,031(89.4) Net profit attributable to shareholders of the company 19,6096,062(69.1) EPS (RMB) (69.1)

Financial Position RMB million 31 Dec Mar 2008 Short-term debts44,65460,777 Long-term debts83,13499,467 Equity attributable to shareholders of the company 307,433320,374 RMB million Q Net cash flow from operating activities2,663 Net cash flow from investing activities(15,474) Net cash flow from financing activities32,663

Note: 1 tonne=7.1 barrels, 1 cubic meter=35.31 cubic feet E&POperational Summary & Performance Q1 2007Q1 2008Change % Crude oil production (mm bbls) Natural gas production (bcf) Realized price of crude oil (RMB/tonne)2, , Realized price of natural gas (RMB/thousand cubic meter) Lift cost (RMB/tonne) EBIT RMB million 11,65411,540(1.0)

RefiningOperational Summary Q1 2007Q1 2008Change % Refinery throughput (mm tonnes) Gasoline production (mm tonnes) Diesel production (mm tonnes) Kerosene incl. jet fuel production (mm tonnes) Light chemical feedstock production (mm tonnes) Light stream yield(%) bps Refining yield(%) bps

Refining margin RMB/tonne Refining Margin / Cash Operating Cost RMB million EBIT of Refining Segment Cash operating cost RMB/tonne RefiningPerformance

MarketingOperational Summary Q1 2007Q1 2008Change % Domestic sales of refined oil products (mm tonnes) Incl. Retail (mm tonnes) Distribution (mm tonnes) Wholesale (mm tonnes) (9.2) Total number of service stations (unit)28,885 29, Incl. Company-operated28,075 28, Franchised (19.4 ) Annualized average pump volume per station (tonnes) 2,457 2,

EBIT of Marketing Segment RMB million RON #90 Gasoline Retail Guidance Price RMB/tonne #0 Diesel Retail Guidance Price RMB/tonne MarketingPerformance

ChemicalsOperational Summary thousand tonnes Q1 2007Q1 2008Change % Ethylene 1,632 1, Synthetic resins 2,364 2, Synthetic rubbers Monomers & Polymers for synthetic fibers 1,910 1, Synthetic fibers Urea (22.7) Note: Includes 100% production from BASF-YPC and Shanghai-Secco

EBIT of Chemicals Segment RMB million ChemicalsPerformance Chemicals Price Spread (2002-Mar. 2008) USD/tonne

Capital Expenditure Total Capex in Q1 2008: RMB bn RMB billion E&P: RMB7.698 billion. Sichuan-East China Gas Project progressed smoothly Refining: RMB billion. Qingdao 10 million tpa refinery project, Wuhan and other oil products quality upgrading projects progressed smoothly Chemicals: RMB 2.097billion. Mainly used for Tianjin 1 million tpa ethylene project, Zhenhai 1 million tpa ethylene project and Jinling 0.6 million tpa PX project Marketing: RMB billion. Remarkable progress in building and purchasing service stations in key regions; added 100 new stations Corporate and others: RMB billion

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