China Petroleum & Chemical Corporation 200 7 Annual Results Announcement

1. China Petroleum & Chemical Corporation2007Annual Results Announcement April 7, 2008 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 • 2007 Overview • 2007 Operational Results • 2008 Operational Plan

4. 2007 Overview

5. Profit Growth

6. Financial Position

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

8. Dividend Dividend Per Share RMB

9. Cost Reduction RMB million

10. 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. 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. 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. 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. E&P－Operational Summary

16. 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. Refining－Operational Summary * The above data does not include production from the five refineries acquired from Sinopec Group Company at end of 2007.

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

19. Marketing－Operational Summary

20. Marketing－Segment Performance EBIT of Marketing Segment RON #90 Gasoline Guidance Price RMB million RMB/Tonne #0 Diesel Guidance Price RMB/Tonne * 2005 and 2006’s figures are adjusted to the same basis as 2007

21. Chemicals－Operational Summary *Includes 100% production from BASF-YPC and Shanghai-Secco.

22. Chemicals－Segment Performance Chemicals Price Spread (2002 – Feb. 2008) EBIT of Chemicals Segment RMB million USD/tonne

23. 2008 Operational Plan

24. 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 Operation Estimates * 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 Capital Expenditure Estimates Estimated 2008 Capex: RMB121.8 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. RMB billion

27. For Further Information http://www.sinopec.com Investor Relations Beijing: Tel: (8610) 64990060 Fax: (8610) 64990489 Email: ir@sinopec.com Hong Kong: Tel: (852) 28242638Fax: (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