China Petroleum & Chemical Corporation 2009 Annual Results Announcement March 29, 2010 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.

Agenda 2009 Overview 2009 Operational Results 2010 Operational Plan

2009 Overview

Chinese GDP increased by 8.7% Crude oil price rebounded from the bottom Reform of pricing, taxation and levies on oil products reversed huge historic losses suffered by domestic refining industry Domestic demand for refined oil products increased quarter by quarter, and apparent consumption grew by 0.9% over 2008 Domestic demand for chemical products recovered gradually, and apparent consumption of ethylene equivalent grew by 8% over 2008 Review of Market Environment

yoy% Crude oil production (mm bbls) Natural gas production (bcf) Refinery throughput (mm tonnes) Domestic sales of refined oil products (mm tonnes) Ethylene production* (‘000 tonnes)6,5346,2896, Segment EBIT (RMB million) E&P48,76666,56919,644(70.5) Refining(10,997)(63,635)23,077- Marketing35,90438,51930,300(21.3) Chemicals13,303(12,950)13,615- Operational Summary Note: * Includes 100% production of JVs

RMB million yoy% Turnover, other operating revenues and other income 1,205,8601,495,1481,345,052(10.0) EBITDA 129,14472,657134, EBIT 85,49626,33684, Net profit attributable to equity shareholders of the Company 55,91428,52561, EPS (RMB) Financial Performance

RMB million31 Dec Dec Dec Short-term debts47,07475,51658,898 Long-term debts83,13490,254108,828 Total equity attributable to equity shareholders of the Company 307,897327,889375,661 Debt/Capital Ratio28.1%27.9%28.0% RMB million Net cash generated from operating activities 118,61266,517152,075 Net cash used in investing activities(110,786)(110,035)(116,039) Net cash (used in)/generated from financing activities (7,164)42,820(34,294) Financial Position

RMB Maintained stable dividend payout level Dividend

Capital Expenditure RMB billion E&P - RMB 51.5bn  Expanded key production facilities and increased reserve utilization  Sichuan to East China Gas Project stably promoted  Newly-built 5.7mm tonnes per year crude oil production capacity and 1.2 bcm per year natural gas capacity. Refining – RMB 15.5bn  Upgrading refined oil product quality  Revamping crude adaptability  Construction of new storage facilities and pipelines Marketing – RMB 16.3bn  Added 1,299 new service stations in key areas  Accelerated the construction of storage facilities and pipelines Chemicals – RMB 25.2bm  Fujian, Tianjin and Zhenhai ethylene projects were completed  Some chemical products upgrading and expansion projects were completed 2009 Capex: RMB 110 billion

Cost Saving Cost Saving: RMB 3.2 billion RMB billion

Corporate Governance Improved Completed the rotation and succession of members to the Board of Directors and the Board of Supervisors Revised the Articles of Association and relevant procedures Further updated the Internal Control Manual Shaped unique management model of Sinopec Corp. Crafted the Outline of Corporate Culture Development 11

Scientific and technological innovation as accelerator of development  Upstream ： key technologies for large scale gas fields in Northeast Sichuan  Refining ： the ultra-low pressure reforming technology won 1 st class prize of national award  FCC gasoline S-Zorb adsorptive desulfurization technology and gasoline selective hydro- desulfurization technology guaranteed product upgrading to GB III standard gasoline  Large scale of gas-phase polyethylene proprietary process package further improved the capability of Chemicals Segment  Some new production technologies improved chemical product mix Strengthen technology research on new energy and low carbon economy Technological Innovation

Health, Safety and Environment Fully implemented the HSE management system, supporting development of low carbon emission economy Rolled out full scale clean production processes  Comprehensive energy intensity down to 0.72 tonne of coal equivalent  COD in waste water declined by 3.6%  Sulfur dioxide discharge fell by 14% Launched a campaign of I Safe to promote safe production 13 Kg standard oil/tonne

2009 Operational Results

yoy% Crude oil production (mm bbls) Natural gas production (bcf) Newly added proved reserves of crude oil (mm bbls) Newly added proved reserves of natural gas (bcf) 3, (91.5) Lifting cost (RMB/tonne) Dec Dec Dec yoy% Proved reserves of crude oil (mm bbls) 3,0242,8412,820(0.7) Proved reserves of natural gas (bcf) 6,3316,9596,739(3.2) Proved reserves of oil and gas (mm boe) 4,0794,0013,943(1.4) E&P － Operational Summary

E&P － Segment Performance Realized prices of Crude Oil and Natural Gas RMB million

yoy% Refinery throughput (kbpd) 3,302.43,446.23, Gasoline production (mm tonnes) Diesel production (mm tonnes) (1.3) Kerosene production (mm tonnes) Light chemical feedstock production (mm tonnes) Light yield (%) bps Refining yield (%) bps Refining － Operational Summary

RMB million Refining Margin/ Cash Operating Cost Refining － Segment Performance

yoy% Domestic sales of refined oil products (mm tonnes) Incl. Retail (mm tonnes) (6.2) Distribution (mm tonnes) Wholesales (mm tonnes) Total number of service stations 29,06229,27929, Incl. Company-operated 28,40528,64729, Franchised Throughput of Company-operated stations (tonnes/station) 2,6972,9352,715(7.5) Marketing － Operational Summary

RMB/tonne Marketing cash operating cost RMB million Maximum retail price of RON 90# gasoline and 0# diesel Marketing － Segment Performance USD/bbl

Non-Fuel Business Accelerated 21 Million RMB Turnover of Non-Fuel Business Unit

Unit: 1,000 tonnes yoy% Ethylene 6,5346,2896, Synthetic resins 9,6609,64310, Monomers & polymers for synthetic fibers 8,0187,2647, Synthetic fibers 1,4171,2601, Synthetic rubbers Urea 1,5651,6491, Chemicals － Operational Summary Note: The above data includes 100% production of JVs.

RMB million Chemicals － Segment Performance RMB/tonne

2010 Operational Plan

Opportunities China’s economy continued to grow healthily Domestic demand for oil products and petrochemicals is expected to increase steadily The competitiveness of the Company has been enhanced Challenges Uncertainties of crude price Newly-added capacity for refining and Chemicals Strong competition in domestic oil product market Prospect for 2010

Actual 2010 Estimates change% Crude oil production (mm bbls) Natural gas production (bcf) Refinery throughput (mm tonnes)* Total domestic sales of refined oil products (mm tonnes) Ethylene production (‘000 tonnes) *6,7138, Operation Estimates Note:*Including 100% production of JVs

E&P  Organize safe operation for Sichuan to East China Gas Project  Development of oilfields in Tahe, Shengli, and gas fields in Puguang and Ordos Refining  Oil product spec upgrading projects  Improve crude transportation and storage facilities Marketing  Construction and acquisitions of service stations in key areas  Improvement on marketing networks Chemicals  Progress in Zhenhai ethylene projects  Accelerate construction of logistic facilities for chemical products RMB billion 2010 Capex Plan: RMB 112 billion Capital Expenditure Plan

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