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

2. 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.

3. Agenda
2009 Overview
2009 Operational Results
2010 Operational Plan

4. 2009 Overview

5. Review of Market Environment
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 4

6. Operational Summary 2007 2008 2009 yoy% Crude oil production (mm bbls)
291.7
296.8
301.2
1.5
Natural gas production (bcf)
282.6
293.1
299.0
2.0
Refinery throughput (mm tonnes)
164.00
171.14
182.62
6.7
Domestic sales of refined oil products (mm tonnes)
119.39
122.98
124.02
0.8
Ethylene production* (‘000 tonnes)
6,534
6,289
6,713
Segment EBIT (RMB million)
E&P
48,766
66,569
19,644
(70.5)
Refining
(10,997)
(63,635)
23,077 -
Marketing
35,904
38,519
30,300
(21.3)
Chemicals
13,303
(12,950)
13,615
Note: * Includes 100% production of JVs 5

7. Financial Performance
RMB million
2007
2008
2009
yoy%
Turnover, other operating revenues and other income
1,205,860
1,495,148
1,345,052
(10.0)
EBITDA
129,144
72,657
134,918
85.7
EBIT
85,496
26,336
84,431
220.6
Net profit attributable to equity shareholders of the Company
55,914
28,525
61,760
116.5
EPS (RMB)
0.645
0.329
0.712 6

8. Financial Position RMB million 31 Dec. 2007 31 Dec. 2008 31 Dec. 2009
Short-term debts
47,074
75,516
58,898
Long-term debts
83,134
90,254
108,828
Total equity attributable to equity shareholders of the Company
307,897
327,889
375,661
Debt/Capital Ratio
28.1%
27.9%
28.0%
2007
2008
2009
Net cash generated from operating activities
118,612
66,517
152,075
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)

9. Maintained stable dividend payout level
RMB

10. Capital Expenditure 2009 Capex: RMB 110 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
RMB billion 9

11. 2009 Cost Saving: RMB 3.2 billion

12. 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

13. Technological Innovation
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 1st 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 12

14. 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
Kg standard oil/tonne
Kg standard oil/tonne

15. 2009 Operational Results

16. E&P－Operational Summary
2007
2008
2009
yoy%
Crude oil production (mm bbls)
291.7
296.8
301.2
1.5
Natural gas production (bcf)
282.6
293.1
299.0
2.0
Newly added proved reserves of crude oil (mm bbls)
20.7
114.0
280.2
145.7
Newly added proved reserves of natural gas (bcf)
3,756.7
921.6
78.4
(91.5)
Lifting cost (RMB/tonne)
601
630
643
31 Dec. 2007
31 Dec. 2008
31 Dec. 2009
yoy%
Proved reserves of crude oil (mm bbls)
3,024
2,841
2,820
(0.7)
Proved reserves of natural gas (bcf)
6,331
6,959
6,739
(3.2)
Proved reserves of oil and gas (mm boe)
4,079
4,001
3,943
(1.4)

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

18. Refining－Operational Summary
2007
2008
2009
yoy%
Refinery throughput (kbpd)
3,302.4
3,446.2
3,677.4
6.7
Gasoline production (mm tonnes)
26.55
29.65
34.43
16.1
Diesel production (mm tonnes)
63.41
69.74
68.86
(1.3)
Kerosene production (mm tonnes)
8.32
7.99
10.39
30.0
Light chemical feedstock production (mm tonnes)
24.00
23.12
26.87
16.2
Light yield (%)
74.48
74.75
75.54
79bps
Refining yield (%)
93.95
94.05
94.53
48bps

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

20. Marketing－Operational Summary
2007
2008
2009
yoy%
Domestic sales of refined oil products
(mm tonnes)
119.39
122.98
124.02
0.8
Incl. Retail (mm tonnes)
76.62
84.10
78.90
(6.2)
Distribution (mm tonnes)
20.17
19.63
25.61
30.5
Wholesales (mm tonnes)
22.60
19.25
19.52
1.4
Total number of service stations
29,062
29,279
29,698
Incl. Company-operated
28,405
28,647
29,055
Franchised
657
632
643
1.7
Throughput of Company-operated stations (tonnes/station)
2,697
2,935
2,715
(7.5)

21. Maximum retail price of RON 90# gasoline and 0# diesel
Marketing－Segment Performance
Maximum retail price of
RON 90# gasoline and 0# diesel
RMB/tonne
USD/bbl
RMB million
RMB/tonne
2007
2008
2009
Marketing cash operating cost
139
153
164

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

23. Chemicals－Operational Summary
Unit: 1,000 tonnes
2007
2008
2009
yoy%
Ethylene
6,534
6,289
6,713
6.7
Synthetic resins
9,660
9,643
10,287
Monomers & polymers for synthetic fibers
8,018
7,264
7,798
7.4
Synthetic fibers
1,417
1,260
1,301
3.3
Synthetic rubbers
800
834
884
6.0
Urea
1,565
1,649
1,752
6.2
Note: The above data includes 100% production of JVs.

24. Chemicals－Segment Performance
RMB million
RMB/tonne 23

25. 2010 Operational Plan

26. Prospect for 2010 Opportunities Challenges
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

27. 2010 Operation Estimates 2009 Actual 2010 Estimates change%
Crude oil production (mm bbls)
301.2
302.1
0.3
Natural gas production (bcf)
299.0
423.7
41.7
Refinery throughput (mm tonnes)*
182.6
203.0
11.2
Total domestic sales of refined oil products (mm tonnes)
124.0
129.0
4.0
Ethylene production (‘000 tonnes) *
6,713
8,690
29.5
Note: *Including 100% production of JVs 26

28. 2010 Capex Plan: RMB 112 billion
Capital Expenditure Plan
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
2010 Capex Plan: RMB 112 billion
RMB billion

29. 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)