1. China Petroleum & Chemical Corporation Q1 2010 Results Announcement
29 April 2010

2. Disclaimer
As required by the CSRC, financial statements of the first quarter of Sinopec Corp. (the “Company”) were prepared under China Accounting Standards for Business Enterprises. The Company has adjusted part of the 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.
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.

3. Market Environment in Q1 2010
China’s GDP grew by 11.9% in the first quarter
Crude oil traded within a narrow range, but the trend was positive
Domestic demand for natural gas, oil products and chemical products increased steadily

4. Financial Performance
EBIT of Each Segment
RMB million
Q1 2009
Q1 2010
Change %
Turnover and other revenues
227,499
438,209
92.6
EBITDA
28,828
34,819
20.8
EBIT
16,701
21,517
28.8
Net profit attributable to equity shareholders of the company
11,281
15,785
39.9
EPS (RMB)
0.130
0.182
RMB million

5. Financial Position 31 Dec 2009 31 Mar 2010 Short-term debt 58,898
RMB million
31 Dec 2009
31 Mar 2010
Short-term debt
58,898
61,740
Long-term debt
108,828
111,359
Total equity attributable to equity shareholders of the company
375,661
391,312
Q1 2010
Net cash flow generated from operating activities
27,995
Net cash flow used in investing activities
31,375
Net cash flow generated from financing activities
4,702

6. E&P—Operational Summary & Performance
Q1 2009
Q1 2010
Change%
Crude oil production (mm bbls)
73.81
73.70
(0.1)
Natural gas production (bcf)
69.98
98.65
41.0
Realized price of crude oil (RMB/tonne)
1,599.01
3,315.94
107.4
Realized price of natural gas (RMB/thousand cubic meter)
961.53
1,006.53
4.7
Lifting cost (RMB/tonne)
604.79
610.56
1.0
EBIT（RMB million）
2,756
8,625
213.0
Note: 1 tonne=7.1 barrels, 1 cubic meter=35.31 cubic feet

7. Refining—Operational Summary
Q1 2009
Q1 2010
Change%
Refinery throughput (mm tonnes)
41.11
49.50
20.4
Gasoline production (mm tonnes)
8.16
8.62
5.6
Diesel production (mm tonnes)
15.38
18.00
17.0
Kerosene incl. jet fuel production (mm tonnes)
2.18
2.87
31.7
Light chemical feedstock production (mm tonnes)
5.77
8.50
47.3
Light stream yield(%)
74.93
75.75
82bps
Refining yield(%)
93.66
94.80
114bps

8. Refining—Performance
Refining Margin / Cash Operating Cost
EBIT of Refining Segment
Refining margin
RMB/tonne
Cash operating cost
RMB/tonne
RMB million

9. Marketing—Operational Summary
Q1 2009
Q1 2010
Change%
Domestic sales of refined oil products
(mm tonnes)
26.43
32.84
24.3
Incl. Retail (mm tonnes)
17.37
20.19
16.2
Distribution (mm tonnes)
5.05
7.76
53.7
Wholesale (mm tonnes)
4.01
4.89
21.9
Annualized average pump volume per station (tonnes)
2,420
2,769
14.4
31 Dec 2009
31 Mar 2010
Change%
Total number of service stations (unit)
29,698
29,795
0.3
Incl. Company-operated
29,055
29,158
0.4
Franchised
643
637
(0.9)

10. Marketing—Performance
Maximum retail price of
RON 90# gasoline and 0# diesel
EBIT of Marketing Segment
RMB million
RMB/tonne
USD/bbl
RMB/tonne
Q1 2009
Q1 2010
Marketing cash operating cost
162.6
149.0

11. Chemicals—Operational Summary
‘000 tonnes
Q1 2009
Q1 2010
Change %
Ethylene
1,488
2,028
36.3
Synthetic resins
2,416
2,917
20.7
Synthetic rubbers
198
240
21.2
Monomers & Polymers for synthetic fibers
1,723
2,133
23.8
Synthetic fibers
315
327
3.8
Urea
362
487
34.5
Note: The above data includes 100% production of JVs.

12. Chemicals—Performance
Chemicals Price Spread
EBIT of Chemicals Segment
USD/tonne
RMB million

13. Capital Expenditure Total Capex in Q1: 16.8bn E&P Refining Chemicals
Sichuan-East China Gas Project, Shengli, Northwest and Southwest Oil Fields as well as pipeline construction.
Refining
Revamping crude adaptability; Construction of new storage facilities and pipelines.
Chemicals
Construction of major Ethylene projects.
Marketing
Accelerated construction of pipelines and newly developed 337 service stations in key areas
RMB billion

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