1. China Petroleum & Chemical Corporation 1H 2008 Results Announcement August 26, 2008 Hong Kong

2. 2008-08-262 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. Disclaimer

3. 2008-08-263 Agenda 1H 2008 Business Overview 1H 2008 Operational Results 2H 2008 Operational Plan

4. 1H 2008 Business Overview

5. 2008-08-265 Review of Market Environment Chinas economy maintained steady and rapid growth, GDP increased by 10.4% Domestic consumption of refined oil products grew by 13.9% Domestic ethylene-equivalent consumption grew by 2.5% International crude oil prices surged Domestic refined oil product prices remained tightly controlled Chemical product prices kept rising, driven by the surge of feedstock price

6. 2008-08-266 RMB million 1H 2007 1H 2008Change % Turnover, other revenues and other income 563,870768,18536.2 EBITDA73,05429,657(59.4) EBIT53,5847,222(86.5) Net profit attributable to shareholders of the Company 36,3758,255(77.3) EPS (RMB) 0.4200.095(77.3) Profitability

7. 2008-08-267 RMB million 1H 20071H 2008 Net cash flow from operating activities 62,2952,640 Net cash flow used in investing activities(46,465)(46,901) Net cash flow (used in)/ generated from financing activities (12,960)45,072 RMB million As of 31 Dec. 2007 As of 30 Jun. 2008 Short-term debts44,65464,758 Long-term debts83,134101,529 Equity attributable to shareholders of the Company 307,433310,871 Financial Position

8. 2008-08-268 Capital Expenditure E&P: RMB 20.981 billion. Newly added production capacity of crude oil was 2.79 million tonnes per year and that of natural gas was 480 million cubic meters per year Refining: RMB 3.849 billion. Qingdao project and upgrades of Gaoqiao, Wuhan and Luoyang completed. A new crude terminal has achieved mechanical completion at Caofeidian port in Bohai Bay Marketing and Distribution: RMB 4.548 billion. Improved marketing network; newly built 195 service stations Chemicals: RMB 5.907billion. YPC 100 ktpa butadiene commenced production; Tianjin, Zhenhai ethylene projects and Jinling PX project progressed on schedule Corporate and others: RMB 1.251 billion RMB Million

9. 2008-08-269 ROCE Note: ROCE for 1H 2008 is not annualized Dividend Per Share RMB Yuan Return and Dividend

10. 1H 2008 Operational Results

11. 2008-08-2611 1H 2007 1H 2008Change % Crude oil production (mm bbls) 143.88147.382.4 Natural gas production (bcf) 139.55144.153.3 Lifting cost (RMB/tonne) 5506049.8 Newly added proved reserves of crude oil (mm bbls) 147.881597.3 Newly added proved reserves of natural gas (bcf) 158.63186.9217.8 As of 31 Dec. 2007 As of 30 Jun. 2008 Change % Proved reserves of crude oil (mm bbls) 3,0243,0350.4 Proved reserves of natural gas (bcf) 6,330.86,373.60.7 Proved reserves of oil and gas (mm boe) 4,0794,0970.4 E&P Operational Summary

12. 2008-08-2612 E&P Segment Performance Crude Oil and Natural Gas Realized prices EBIT of E&P Segment Crude Oil RMB/tonne Natural Gas RMB/000 cubic meter RMB million

13. 2008-08-2613 1H 20071H 2008Change % Refinery throughput (mm tonnes) 78.9484.256.7 Gasoline production (mm tonnes) 12.7913.787.7 Diesel production (mm tonnes) 29.9133.8013.0 Kerosene production (mm tonnes) 4.103.94(3.9) Light chemical feedstock production (mm tonnes) 12.2612.07(1.5) Light yield (%) 73.9374.6875bps Refining yield (%) 93.7393.8714bps Refining Operational Summary

14. 2008-08-2614 Refining Segment Performance EBIT of Refining Segment Refining Margin / Cash Operating Cost Refining Margin (RMB/tonne) Cash Operating Cost (RMB/tonne) RMB million

15. 2008-08-2615 1H 2007 1H 2008 Change % Domestic sales of refined oil products (mm tonnes) 57.9263.028.8 Incl. Retail (mm tonnes) 36.0142.9119.2 Distribution (mm tonnes) 10.1510.372.2 Wholesale (mm tonnes) 11.779.73(17.3) Total gas stations 28,89829,1881.0 Incl. self-operated stations 28,15328,5511.4 Franchised stations 745637(14.5) Annualized average throughput of self-operated stations (tonnes/station) 2,5583,00617.5 Marketing Operational Summary

16. 2008-08-2616 RMB/tonne 1H 20071H 2008 Marketing cash operating cost 133.80152.91 Marketing Segment Performance RON #90 Gasoline Guidance PriceEBIT of Marketing Segment #0 Diesel Guidance Price RMB/Tonne RMB million RMB/Tonne

17. 2008-08-2617 Unit: 1,000 tonnes 1H 2007 1H 2008Change % Ethylene* 3,2733,3071.0 Synthetic resin* 4,7744,9233.1 Monomers & polymers for synthetic fiber 3,9383,768(4.3) Synthetic fiber 721681(5.5) Synthetic rubber 36046027.8 Urea 813685(15.7) Chemicals Operational Summary * 100% production from YPC-BASF and Shanghai-Secco included.

18. 2008-08-2618 RMB/tonne 1H 2007 1H 2008 Ethylene cash operating cost 1,3201,288 Chemicals Segment Performance Chemicals Price Spread (2002 – Jul. 2008) EBIT of Chemicals Segment USD/tonne RMB million

19. 2H 2008 Operational Plan

20. 2008-08-2620 Market Environment for 2H 2008 Chinas economy is expected to maintain growth momentum Demand for oil products and petrochemicals will increase steadily International crude oil prices will remain high Domestic refining business will still be under pressure Demand growth for chemical products may slow down

21. 2008-08-2621 2H 2008 EFY 2008 E Crude oil production (mm tonnes)21.2442.00 Natural gas production (bcm)4.208.28 Refinery throughput (mm tonnes)89.75174.00 Total domestic sales of refined oil products (mm tonnes) 64.00127.02 Ethylene production (mm tonnes)3.266.57 2H 2008 Operational Plan

22. 2008-08-2622 http://www.sinopec.com Investor Relations Beijing:Tel: (8610) 64990060 Fax: (8610) 64990022 Email: ir@sinopec.com Hong Kong:Tel: (852) 28242638 Fax: (852) 28243669 Email: ir@sinopechk.com New York:Tel: (212) 759 5085 Fax: (212) 759 6882 Email: fangzq@sinopecusa.com Media Relations Tel: (8610) 64990092 Fax: (8610) 64990093 Email: media@sinopec.com For Further Information