1. China Petroleum & Chemical Corporation 2007 Annual Results Announcement April 7, 2008 Hong Kong

2. 2008-4-72 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. 2008-4-73 Agenda 2007 Overview 2007 Operational Results 2008 Operational Plan

4. 2007 Overview

5. 2008-4-75 Profit Growth RMB million 200520062007 07/06 Change Turnover, other revenues and other income826,8251,066,9021,209,70613.4% EBITDA99,124114,186129,17913.1% EBIT67,97780,63285,8646.5% Net profit attributable to shareholders of the Company 41,35453,60356,5335.5% EPS (RMB)0.4770.6180.6525.5%

6. 2008-4-76 Financial Position RMB million 31 Dec. 2005 31 Dec. 2006 31 Dec. 2007 Short-term debts42,33944,65456,467 Long-term debts63,63061,61783,134 Equity attributable to shareholders of the Company 226,099264,334307,433 RMB million 200520062007 Net cash flow from operating activities 78,66392,507119,594 Net cash flow from in investing activities(78,113)(103,385)(113,587) Net cash flow from financing activities(4,257)2,878(5,310)

7. 2008-4-77 Financial Position (Continued) ROCE Debt/equity and EBITDA/interest coverage Debt/equity(%)

8. 2008-4-78 Dividend Dividend Per Share RMB

9. 2008-4-79 Cost Reduction RMB million

10. 2008-4-710 Capital Expenditure E&P: RMB 54.498 billion. Newly added crude oil production capacity was 6.05 million tonnes per year and that of natural gas was 1.66 billion cubic meters per year. Sichuan-East China pipeline project started Refining: RMB 22.763 billion. Qingdao project progressed smoothly; Oil products quality upgrading projects such as Yanshan project commenced production Marketing and Distribution: RMB 12.548 billion. Improved refined oil products distribution network through construction, acquisition and renovation of service stations and oil depots; added 753 new stations Chemicals: RMB 16.184 billion. Major Ethylene projects progressed smoothly. Corporate and others: RMB 3.289 billion 2007 Capex RMB 109.282 billion RMB Billion

11. 2008-4-711 Technological Innovation Driving corporate development through technological innovation  E&P: New technologies such as enhancing oil recovery rate  Refining: Substantial progress has been made in technologies to process low-grade crude oil; commercialized technology to produce gasoline and diesel which meet the National IV emission standard (equivalent to Euro IV standard)  Chemicals: Developed proprietary technology for 300ktpa polypropylene R&D in new and alternative energies Obtained 616 domestic and 61 foreign patents

12. 2008-4-712 Social Responsibility Ensured stable domestic supply of refined oil products Implemented energy conservation and effluent-reduction measures  Energy intensity decreased by 6.1%  Fresh water consumption decreased by 4.3%  COD in discharged waste water decreased by 5.4% Philanthropic activities  Donations to support rescue and rebuilding in Southern China area affected by snow storm disaster early 2008  Sponsored “Health Express” campaign  Sponsor of Beijing 2008 Olympics

13. 2007 Operational Results

14. 2008-4-714 Review of Market Environment China’s economy maintained steady and rapid growth  GDP increased by 11.4%  Domestic consumption of refined oil products grew by 6.8%  Domestic ethylene-equivalent consumption grew by 7.8% International crude oil prices kept increasing and rose dramatically in the 4th quarter Domestic refined oil product prices still tightly controlled Chemical product prices remained high

15. 2008-4-715 E&P － Operational Summary 200520062007 07/06 Change Crude oil production (mm bbls) 278.82285.19291.672.3% Natural gas production (bcf) 221.9256.5282.610.2% Lifting cost (RMB/tonne) 488.34520.44600.7715.4% Newly added proved reserves of crude oil (mm bbls) 30628621(92.7%) Newly added proved reserves of natural gas (bcf) 140.6161.53,756.72,226.1% 31 Dec. 2005 31 Dec. 2006 31 Dec. 2007 07/06 Change Proved reserves of crude oil (mm bbls) 3,2943,2953,024(8.2%) Proved reserves of natural gas (bcf) 2,951.72,856.76,330.8121.6% Proved reserves of oil and gas (mm boe) 3,7863,7714,0798.2%

16. 2008-4-716 E&P － Segment Performance Realized prices of Crude Oil and Natural Gas EBIT of E&P Segment Crude Oil RMB/tonne Natural Gas RMB/’000 cubic meter RMB million

17. 2008-4-717 Refining － Operational Summary 200520062007 07/06 Change Refinery throughput (mbbls / day) 2,817.92,946.53,132.96.3% Gasoline production (mm tonnes) 22.9823.0024.697.3% Diesel production (mm tonnes) 54.9257.8660.083.8% Kerosene production (mm tonnes) 6.636.358.3231.0% Light chemical feedstock production (mm tonnes) 21.1022.7423.473.2% Light yield (%) 74.1674.7574.48(27bps) Refining yield (%) 93.2493.4793.9548bps * The above data does not include production from the five refineries acquired from Sinopec Group Company at end of 2007.

18. 2008-4-718 Refining － Segment Performance EBIT of Refining Segment Refining Margin / Cash Operating Cost Refining Margin (RMB/tonne) Cash Operating Cost (RMB/tonne) RMB million

19. 2008-4-719 200520062007 07/06 Change Domestic sales of refined oil products (mm tonnes) 104.56111.68119.396.9% Incl. Retail (mm tonnes) 63.5272.1676.626.2% Distribution (mm tonnes) 20.3818.9520.176.4% Wholesales (mm tonnes) 20.6620.5722.609.9% Total number of service stations 29,64728,80129,0620.9% Incl. Company-operated 27,36728,00128,4051.4% Franchised 2,280800657(17.9%) Annualized throughput of company-operated stations (tonnes/station) 2,3212,5772,6974.7% Marketing － Operational Summary

20. 2008-4-720 Marketing － Segment Performance RON #90 Gasoline Guidance Price RMB/tonne 200520062007 Marketing cash operating cost * 118130139 * 2005 and 2006’s figures are adjusted to the same basis as 2007 EBIT of Marketing Segment #0 Diesel Guidance Price RMB/Tonne RMB million RMB/Tonne

21. 2008-4-721 Chemicals － Operational Summary Unit: 1,000 tonnes 200520062007 07/06 Change Ethylene* 5,3196,1636,5346.0% Synthetic resins* 7,6058,6199,66012.1% Monomers & polymers for synthetic fibers 6,7257,2428,01810.7% Synthetic fibers 1,5701,5021,417(5.7%) Synthetic rubbers 62666880019.8% Urea 1,7801,6091,565(2.7%) *Includes 100% production from BASF-YPC and Shanghai-Secco.

22. 2008-4-722 Chemicals － Segment Performance RMB/tonne 200520062007 Ethylene cash operating cost 1,2541,2821,329 Chemicals Price Spread (2002 – Feb. 2008) USD/tonne EBIT of Chemicals Segment RMB million

23. 2008 Operational Plan

24. 2008-4-724 Prospect for 2008 China’s economy is expected to maintain rapid growth, which will lead to steady growth in demand for oil products and petrochemicals International crude oil prices will remain high, yet refined oil products will still be subject to tight price control in Mainland China Measures to cope with the challenges  Leveraging the Company’s unique strengths in oil and gas exploration and development, competitive advantages in refining & marketing as well as chemical businesses, well-established global trading networks  Leveraging the advantages of Sinopec Group in engineering services in oil and petrochemical businesses and in its overseas assets

25. 2008-4-725 2008 Operation Estimates 2007 Actual2008 EstimatesChange Crude oil production (mm bbls)291.67298.202.2% Natural gas production (bcf)282.6317.7912.5% Refinery throughput (mm tonnes)155.59*174.0011.8% Total domestic sales of refined oil products (mm tonnes) 119.39124.003.9% Ethylene production (mm tonnes)**653.4672.02.8% * Does not include production from the five refineries acquired from Sinopec Group Company at end of 2007. **Includes 100% production from BASF-YPC and Shanghai-Secco.

26. 2008-4-726 2008 Capital Expenditure Estimates Estimated 2008 Capex: RMB 121.8 billion RMB billion E&P: RMB 60.1 billion. Mainly focus on Sichuan-East China Gas Project and development of Tahe, Shengli and Ordos. Refining: RMB 19.9 billion. Qingdao Refinery Project to be completed in 2008, Further progress in refined oil products quality upgrading projects. Marketing and Distribution: RMB 13.0 billion. Improve marketing networks through construction and acquisitions of service stations along expressways and in strategic areas. Chemicals: RMB 25.7 billion for major ethylene projects. Corporate and others: RMB 3.1 billion.

27. 2008-4-727 For Further Information http://www.sinopec.com Investor Relations Beijing:Tel: (8610) 64990060 Fax: (8610) 64990489 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