China Petroleum & Chemical Corporation 1H 2007 Results Announcement August 27, 2007 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 1H 2007 Overview 1H 2007 Operational Results 2H 2007 Operational Plan

1H 2007 Overview

Review of Market Environment China’s economy maintained steady and rapid growth, GDP increased by 11.5%  Domestic consumption of refined oil products grew by 4.2%  Domestic ethylene-equivalent consumption grew by 8.4% International crude prices first declined and rose later Chemical product prices remained high Domestic refined oil products prices still tightly controlled

Operational Overview 1H 20071H 2006Change% Crude oil production (mm bbls) Natural gas production (bcf) Refinery throughput (mm tonnes) Domestic sales of refined oil products (mm tonnes) Incl. Retail (mm tonnes) Ethylene production * (1,000 tonnes) 3,2733, *Includes 100% production from YPC-BASF and Shanghai-Secco.

Profit Growth RMB million 1H H 2006Change% Turnover and other revenues566,830491, EBITDA72,59950, EBIT53,34634, Net profit attributable to shareholders of the Company 36,19021, EPS (RMB)

Financial Position RMB million 1H 20071H 2006 Net cash flow from operating activities 61,63619,069 Net cash flow used in investing activities(46,316)(56,181) Net cash flow (used in)/ generated from financing activities (12,306)32,532 RMB million As of 30 Jun As of 31 Dec Short-term debts47,03652,824 Long-term debts70,59261,617 Equity attributable to shareholders of the Company 289,614262,845

ROCE and Dividend ROCE Note: ROCE for 1H 2007 is not annualized Dividend Per Share RMB Yuan

1H 2007 Operational Results

E&P － Operational Summary 1H H 2006Change% Crude oil production (mm bbls) Natural gas production (bcf) Lifting cost (RMB/tonne) Newly added proved reserves of crude oil (mm bbls) Newly added proved reserves of natural gas (bcf) (9.61) Jun Dec Change% Proved reserves of crude oil (mm bbls) 3,2993, Proved reserves of natural gas (bcf) 2, Proved reserves of oil and gas (mm boe) 3,778.33,

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

Refining － Operational Summary 1H 20071H 2006Change% Refinery throughput (mm tonnes) Gasoline production (mm tonnes) Diesel production (mm tonnes) Kerosene production (mm tonnes) Light chemical feedstock production (mm tonnes) Light yield (%) (32bps) Refining yield (%) (3bps)

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

Marketing － Operational Summary 1H 20071H 2006 Change% Domestic sales of refined oil product (mm tonnes) Incl. Retail (mm tonnes) Distribution (mm tonnes) Total number of service stations 28,89829,198(1.03) Incl. Company-operated 28,15327, Franchised 7451,570(52.55) Annualized throughput of company-operated stations (tonnes/station) 2,5582,

Marketing － Segment Performance EBIT of Marketing Segment RON #90 Gasoline Guidance Price RMB/Tonne #0 Diesel Guidance Price RMB/Tonne RMB/tonne 1H 20061H 2007 Marketing cash operating cost RMB million

Chemicals － Operational Summary Unit: 1,000 tonnes 1H 20071H 2006Change% Ethylene * 3,2733, Synthetic resin * 4,7674, Monomers & polymers for synthetic fibers 3,9383, Synthetic fiber (6.75) Synthetic rubber Urea (10.26) *Includes 100% production from YPC-BASF and Shanghai-Secco.

Chemicals － Segment Performance EBIT of Chemicals Segment Chemicals Price Spread (2002 – Jul. 2007) USD/tonne RMB million RMB/tonne IH 20061H 2007 Ethylene cash operating cost 1,2621,320

Energy consumption per unit of production decreased by 3.95%  Energy consumption per unit of production for E&P segment decreased by 4.72%  Energy consumption per unit of production for Refining segment increased by 0.28%  Energy consumption of ethylene units decreased by 1.02% Fresh water consumption and water discharge reduced substantially  Fresh water consumption reduced by 5%  Wastewater discharge reduced by 7%  COD in wastewater reduced by 15% Environmental Record

Effective Cost Control RMB million 1H 2007 Cost Saving

Capital Expenditure E&P: RMB billion. Newly added production capacity of crude oil was 2.27 million tonnes per year and that of natural gas was 719 million cubic meters per year, Refining: RMB 6.18 billion. Upgrade of Yanshan project was completed; Qingdao project progressed smoothly; Tianjin- Yanshan crude oil pipeline was completed. Marketing and Distribution: RMB 4.92 billion. Construction of pipeline for refined oil products in Beijing was completed; newly added 307 stations. Chemicals: RMB 3.30 billion. Tianjin ethylene, Zhenhai ethylene and Fujian Ethylene projects progressed smoothly 1H 2007 Capex RMB million

2H 2007 Operational Plan

Market Environment for 2H2007 China’s economy is expected to maintain rapid growth  Demand for oil products and petrochemicals will increase steadily International crude oil prices will remain high Refining business will still be under pressure Petrochemical product prices will remain at a relative high level

H 2007 Operation Estimates 2H EstimateFY 2007E Crude oil production (mm tonnes) Natural gas production (bcm) Refinery throughput (mm tonnes) Total domestic sales of refined oil products (mm tonnes) Ethylene production (mm tonnes)

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)