China Petroleum & Chemical Corporation Q1-Q Results Announcement October 31, 2006 Beijing

2 Forward-looking Statements This presentation and the presentation materials distributed herewith 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.

3 前三季度的市场环境 China’s economy maintained rapid growth with GDP up 10.7% in Q1-Q3 Domestic demand for refined oil products and chemical products maintained growth International crude oil price experienced a record high, then decreased dramatically Price control on refined oil products remains in effect, chemicals prices keep high Market Environment in Q1-Q3

4 Profit Growth RMB million1-9 ’061-9 ’05change% Turnover and other operating revenues 773,910592, EBITDA78,90870, EBIT54,16847, Profit attributable to equity shareholders of the Company 34,41728, Minority interests 2502, EPS (RMB)

5 Financial Position RMB millionAs of 30 Sep. 2006As of 31 Dec Short-term debt65,12140,411 Long-term debt66,47467,059 Equity attributable to equity shareholders of the Company 246,702223,556 RMB million1-9 ’061-9 ’05 Cash flow from operating activities 44,22040,759 Cash flow used in investing activities-69,779-44,443 Cash flow from financing activities22,1532,546 Cash & cash equivalents - ending balance10,30815,228

6 E&P – Operational Summary Note: 1 tonne = 7.1 barrels ， 1 cubic meter = cubic feet 1-9 ’061-9 ’05change% Crude production (million tonnes) Gas production (billion cubic meters) Crude realized Price (RMB/tonne) 3, , Gas realized Price (RMB/’000 cubic meters) Lifting cost (RMB/tonne) EBIT (RMB million)50,92931,

7 (million tonnes) 1-9 ’061-9 ’05change% Crude oil processed Gasoline production Diesel production Light chemical feedstock production Kerosene production Light yield (%) bps Refining yield (%) bps Refining- Operational Summary

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

9 1-9 ’061-9 ’05change% Domestic sales of refined oil products (million tonnes) Incl. Retail (million tonnes) Distribution (million tonnes) Total number of gas stations (site)28,54630, Incl. Self-operated stations (site)27,74627, Franchized stations (site)8003, Annualized throughput of self-operated stations (tonnes/station) 2,6082, Marketing – Operational Summary

10 Marketing - Segment Performance RON #90 Gasoline Guidance Price RMB/Tonne #0 Diesel Guidance Price RMB/Tonne EBIT of Marketing Segment RMB million

11 Unit: 1,000 tonnes 1-9 ’061-9 ’05change% Ethylene 4,5343, Synthetic resin 6,2895, Synthetic rubber Monomer & polymer for synthetic fiber 5,4014, Synthetic fiber 1,1371, Urea 1,3211, Chemicals — Operational Summary Note: 100% production from YPC-BASF and Shanghai-Secco was included.

12 Chemicals - Segment Performance Chemicals Price Spread ( Sep. 2006) USD/tonne EBIT of Chemicals Segment RMB million

13 Capital Expenditure Exploration and Production: RMB billion. Newly built production capacity of crude oil and natural gas was 4.13 million tonnes per year and billion cubic meters per year respectively Refining: RMB billion. Construction of the Yizheng-Changling crude oil pipeline completed; the refinery revamping projects in Guangzhou, Yanshan and Qingdao progressed smoothly Marketing : RMB 8.51 billion. Construction and acquisition of gas stations in key areas continued with 542 newly added stations Chemicals: RMB billion. Maoming ethylene expansion project, ethylene projects of Fujian and Tianjin as well as other projects were proceeding on schedule. Corporate & Others – RMB billion Q1-Q Capex: RMB bn RMB, million

14 For Further Information Investor Relations Beijing:Tel: (8610) Fax: (8610) Hong Kong:Tel: (852) Fax: (852) New York:Tel: (212) Fax: (212) Media Relations Tel: (8610) Fax: (8610)