1. 1 28 April 2006 China Petroleum & Chemical Corporation Q1 2006 Results Announcement

2. 2 Disclaimer As required by the CSRC, financial statements of the first quarter of Sinopec Corp. (the “Company”) were prepared under PRC Accounting Rules and Regulations. 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. The presentation and presentation materials include forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that the Company 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. The Company'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 proved 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 the Company’s control. In addition, the Company makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.

3. 3 Market Environment in Q1 2006 Chinese economy maintained rapid growth Domestic demand of oil and chemical products sustained growth momentum Crude oil prices kept hiking Prices of chemical products remained at high levels According to the comprehensive scheme to further improve petroleum pricing mechanism, the government began to impose special income levy on E&P companies and moderately raised domestic oil product prices from 26 March.

4. 4 Results of Operation (RMB million) Turnover and other operating revenues227,195174,12730.48 EBITDA22,85324,970-8.48 EBIT14,86216,880-11.95 Profit after taxation 9,33911,042-15.42 Minority Interests 511,405-96.37 Profit attributable to equity shareholders of the Company 9,2889,637 -3.62 EPS (RMB/share)0.1070.111-3.62 1Q061Q05Change %

5. 5 Financial Status (RMB million) Short-term debts 48,89540,411 Long-term debts 68,37467,059 Equity attributable to equity shareholders of the Company 232,844223,556 Net cash flow from operating activities 1,61212,793 Net cash flow used in investing activities 14,94313,112 Net cash flow from financing activities 11,8432,101 Cash and cash equivalent – ending balance 12,25018,165 At 31 March 2006At 31 December 2005 1Q06 1Q05

6. 6 E & P Segment Note: 1 tonne = 7.1 barrel, 1 cubic meter = 35.31 cubic feet Exchange rate: 1 USD=8.04 RMB for 1Q 2006 and 1 USD=8.28 RMB8.28 for 1Q 2005 15.46 6.47 7.47 Lifting cost (USD/bbl) 50.68 36.19 54.53 Crude realised price (USD/bbl) 16.96 2.24 2.62 Gas realised price (USD/kcf) 2.81 67.67 69.57 Crude production (mmbbls) 23.42 51.87 64.02 Gas production (bcf) 16,623159.98 6,394 EBIT (RMB million) 1Q061Q05Change%

7. 7 (million tonnes) Crude oil throughput 34.33 Gasoline production 5.82 -4.98 Diesel production 13.82 13.11 5.42 Kerosene production 1.541.68-8.33 Light chemical feedstock production 5.77 4.99 15.63 Light yield (%) 74.8173.48133bps Refining yield (%) 93.64 92.63 101bps 1Q061Q05Change % Refining Segment 35.17 2.45 5.53

8. 8 Refining Margin/ Cash Operating Cost (USD/bbl) Refining Segment EBIT (RMB million) (USD/bbl) Note: Exchange rate: 1 USD=8.04 RMB for 1Q 2006 and 1 USD=8.28 RMB8.28 for 1Q 2005 Refining Segment Earnings

9. 9 Marketing Segment Domestic sales of refined oil product (million tonnes) 26.0324.137.87 Incl. Retail (million tonnes) 16.6713.4623.85 Direct sales (million tonnes) 4.915.35-8.22 Total No. of gas stations (site) 29,744 30,164-1.39 Incl. Owned and operated (site) 27,46426,6822.93 Franchised (site) 2,2803,482-34.52 Annualised throughput per station (tonnes) 2,4282,01820.32 1Q061Q05Change %

10. 10 Domestic RON 90# Gasoline Retail Guidance Price (RMB/Tonne) Domestic 0# Diesel Retail Guidance Price Marketing Segment EBIT (RMB million) Marketing Segment Earnings

11. 11 Chemicals Segment (‘000 tonnes) Ethylene production 1,514 1,122 34.94 Synthetic resins production 2,075 1,683 23.29 Synthetic rubber production 161 158 1.90 Synthetic fiber monomer & polymer production 1,782 1,596 11.65 Synthetic fiber production 390 400 -2.50 Urea production 441 388 13.66 1Q061Q05Change % Note: The ethylene and synthetic resin production in 1Q 06 include 100% of those of YPC- Basf and Shanghai Secco

12. 12 Chemicals Segment Earnings Chemicals price spread (1990 through Apr. 2006) Chemicals Segment EBIT (RMB million) (USD/tonne)

13. 13 Capex in 1Q 06 totaled RMB 14.39 billion E & P – RMB 5.372 billion. Newly added crude production capacity of 1.27 million tonnes/year and gas production capacity of 469 million cubic meters/year Refining – RMB 2.821 billion. The revamping of Guangzhou and Yanshan refining units and some other secondary processing units went on smoothly Marketing – RMB 4.136 billion, mainly used for establishing logistics system, constructing and purchasing gas stations. 97 new gas stations were added during the reporting period Chemicals – RMB 1.725 billion. Revamping of Maoming ethylene and Shanghai ethylene glycol, Yangzi aromatics and PTA, and coal gasification projects for three chemical fertilizers plants, progressed smoothly Capital Expenditure (RMB billion)

14. 14 http://www.sinopec.com.cn For Further Information Investor Relations Beijing:Tel: (8610) 64990060 Fax: (8610) 64990489 Email: ir@sinopec.com.cn 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.cn