1 April 30,2004 China Petroleum & Chemical Corporation Q Results Announcement

2 Disclaimer As required by the CSRC, financial statements of the first quarter of Sinopec Corp. (the “Company”) are prepared under PRC Accounting Rules and Regulations. The Company has adjusted part of financial data in accordance with the International Financial Reporting Standards hereby for the reference of international investors. Financial data of the first quarter contained in the presentation and presentation materials are unaudited. The presentation and presentation materials hereby include forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that the Company 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. The Company'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 proved 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 the Company’s control. In addition, the Company makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.

3 Agenda Performance Review of Q Operation Estimates for Q2 2004

4 Performance Review of Q1 2004

5 GDP growth rate of 9.7% Prices of crude oil and refined oil products fluctuate at relatively high level Significant increase in chemical prices on yoy basis Market Environment in Q1 2004

6 (RMB billion) Revenue EBITDA EBIT Profit Attributable to Shareholders EPS (RMB/Share) Q1 03Q1 04Change(%) Results of Operation- Significant Earnings Growth

(RMB billion) Change(%) Q Sound Financial Position As of Dec. 31, 2003 As of Mar. 31, 2004 Shareholders’ Equity Long-term Debt Short-term Debt Cash and Cash Equivalent – Ending Balance Net Cash Flow from Financing Activities Net Cash Flow for Investing Activities Net Cash Flow from Operating Activities

8 E & P — Production Continue to Grow 1, , , , , ,395 Lifting Cost ( USD / bbl ) EBIT ( RMB million )5, ,545 Q1 03Q1 04Change(%) Crude Production (‘000 tonne ) Gas Production ( million cubic meter ) Crude Realized Price ( RMB / tonne ) Gas Realized Price ( RMB / ’000 cubic meter ) Note: 1 tonne = 7.1 barrel ， 1 cubic meter = cubic feet

9 27,631 5,128 9,915 1, , bps 18 bps ,369 5,731 12,043 1, ,534 5, ,483 Q1 03Q1 04Change(%) Refining - Adjust Product Mix, Increase Throughput Crude Oil Throughput Gasoline Production Diesel Production Kerosene Production Light Yield (%) Refining Yield (%) Chemical Feedstock Production Of which: Sour-Crude Throughput Unit: ‘000 tonne

10 Refining – Earnings Increased Yoy Refining Margin (USD/bbl) Refining Segment EBIT (RMB million)

11 5,580 3,283 8,952 17,814 28,894 24,065 4,829 1, ,326 4,401 11,977 21,705 30,416 24,680 5,736 1,757 Q1 03Q1 04Change(%) Maketing – Increased Volume, Optimized Structure Owned and Operated Franchised Annual Throughput Per Station (tonne/site) Wholesale ( ‘000 tonne ) Distribution ( ‘000 tonne ) Retail (‘000 tonne ) Domestic Sale of Refined Product ( ‘000 tonne ) Total No. of Gas Stations

12 Marketing – Sustainable Earnings Growth Domestic RON 90# Gasoline Guidance Price (RMB/Tonne) Domestic 0# Diesel Guidance Price Marketing Segment EBIT (RMB MM) JanMarMayJulSepNov JanMarMayJulSepNov

13 Unit: ‘000 tonne 1, , , , Q1 03Q1 04Change(%) Chemical – Increased Volume Ethylene Synthetic Resins Synthetic Rubber Synthetic Fiber Monomer & Polymer Synthetic Fiber Urea

14 Chemical – Increased Profitability Chemicals Price Spread (1990 through Apr 2004) Chemical Segment EBIT (RMB MM) USD/tonne

15 Total ： RMB billion E & P – RMB4,856MM ， breakthroughs in exploration of consealed reserves in eastern china. Newly added crude capacity of 820 thousand tonnes/year Refining – RMB 1,452MM ， Ningbo-Shanghai- Nanjing crude pipeline will be put into operation soon, some revamped projects were progressing Marketing – RMB3,447MM ， construction of South- West oil pipeline and upgrading retail networks progressed smoothly Chemical – RMB995MM ， Qilu ethylene upgrading project and other chemical revamping projects progressed smoothly Corporate and Others – RMB407MM ， IT projects including ERP progressed smoothly In addition, Capex for JV projects including Shanghai- Secco project was RMB 1,549MM Capital Expenditure

16 Operational Estimates for Q2 2004

17 Market Outlook for Q2 Chinese economy will continue to maintain relatively high growth rate providing a favorable external environment for the Company’s operations International prices of crude oil and refined products are expected to maintain at high level Chemicals continue to experience cyclical upturn

18 billion cubic meter ‘000 tonne Q2 04E Q1 04A Operational Estimates for 2Q Crude Production Gas Production Refining Throughput Ethylene Production Domestic Sale of Refined Products Retail Distribution million tonne

19 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)