1. 1 April 29, 2005 China Petroleum & Chemical Corporation Q1 2005 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 Chinese economy maintained fast growth Domestic demand of oil and chemical products sustained growth momentum Crude oil prices were volatile Prices of chemical products remained at high levels Market Environment in Q1

4. 4 Results of Operation- Significant Earnings Growth (RMB million) Revenue174,127129,60834.35 EBITDA24,97021,52616.00 EBIT16,88014,38817.32 Profit after taxation 11,0429,44816.87 Minority Interests 1,4051,14223.03 Profit attributable to shareholders of the parent 9,6378,30616.02 EPS (RMB/share)0.1110.09616.02 1Q051Q04Change %

5. 5 Sound Financial Position (RMB million) Short-term Debt37,15432,307 Long-term Debt69,90660,822 Shareholders’ funds attributable to shareholders of the parent 202,677193,040 Net Cash Flow from Operating Activities 12,793 Net Cash Flow used in Investing Activities13,112 Net Cash Flow from Financing Activities 2,101 Cash and Cash Equivalent – Ending Balance 18,165 At 31 March 2005At 31 December 2004 1Q05

6. 6 E & P Note: 1 tonne = 7.1 barrel ， 1 cubic meter = 35.31 cubic feet Crude Production (‘000 tonnes)9,530.5 9,538.3 -0.08 Gas Production (billion cubic meters)1.469 1.395 5.30 Crude Realized Price (RMB / tonne) 2,127.29 1,678.63 26.73 Gas Realized Price (RMB / ’000 cubic meters) 655.36 606.47 8.06 Lifting Cost (USD / bbl)6.47 6.37 1.57 EBIT (RMB million)6,394 4,545 40.68 1Q051Q04Change %

7. 7 (million tonnes) Crude Oil Throughput 34.33 32.37 6.05 Gasoline Production 5.82 5.73 1.57 Diesel Production 13.11 12.04 8.89 Light Chemical Feedstock Production 4.99 4.53 10.15 Kerosene Production 1.68 1.48 13.51 Light Yield (%) 73.48 73.85 -37 bps Refining Yield (%)92.63 92.82 -19 bps 1Q051Q04Change % Refining - Adjusted Product Mix, Increased Throughput

8. 8 Refining Earnings Refining Margin/ Cash Operating Cost (USD/bbl) Refining Segment EBIT (RMB million) (USD/bbl)

9. 9 Marketing – Increased Volume, Optimized Structure Domestic sales of refined oil product (million tonnes) 24.13 21.70 11.20 Incl. Retail (million tonnes)13.46 11.98 12.35 Distribution (million tonnes)5.35 4.40 21.59 Total No. of gas stations (site)30,164 30,416 -0.83 Incl. Owned and operated (site)26,682 24,680 8.11 Franchised (site) 3,482 5,736 -39.30 Annual throughput per station (tonne/site)2,018 1,757 14.85 1Q051Q04Change %

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

11. 11 Chemicals – Increased Volume (‘000 tonnes) Ethylene 1,121.8 1,041.5 7.71 Synthetic Resins1,683.1 1,544.9 8.95 Incl. Performance Compound845.6 725.8 16.51 Synthetic Rubber158.1 152.1 3.94 Synthetic Fiber Monomer & Polymer1,595.6 1,515.2 5.31 Synthetic Fiber400.0 407.1 -1.74 Incl. Differential Fiber195.1 133.7 45.92 Urea 388.3 541.5 -28.29 1Q051Q04Change %

12. 12 Chemicals Earnings Chemicals Price Spread (1990 through Mar 2005) Chemicals Segment EBIT (RMB MM) USD/tonne

13. 13 Total ： RMB11.359 billion E & P – Newly added crude production capacity of 600 thousand tonnes/year and newly added gas production capacity of 90 million cubic meters/year Refining – the 2 nd phase of Ningbo-Shanghai- Nanjing crude pipeline is close to completion; crude pipeline along the Yangzi River is under construction; some revamping projects were on schedule Chemicals –major chemical revamping projects, incl. Maoming ethylene progressed smoothly Marketing – oil product pipeline in southwestern China is close to completion and upgrading of retail network progressed smoothly Corporate and Others –IT projects including ERP progressed smoothly In addition, Capex for JV projects, incl. Shanghai- Secco and BASF-YPC was RMB 1.292 billion. Capital Expenditure RMB million

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