1. 1 August 29, 2005 Hong Kong China Petroleum & Chemical Corporation 1H 2005 Results Announcement

2. 2005-8-29 2 This presentation and the presentation materials distributed herewith 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, 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. 2005-8-29 3 1H 2005 Business Review 1H 2005 Financial Performance 2H 2005 Business Prospects Agenda

4. 4 1H 2005 Business Review

5. 2005-8-29 5 Market Environment China’s economy maintained steady growth with GDP at 9.5% –Domestic consumption of oil products increased by 5.56% –Domestic consumption of petrochemicals (ethylene equivalent) increased by 5.70% Crude oil price climbed to a record high Petrochemical prices remained high albeit somewhat down from 4Q 2004 Price control on refined oil products remained in effect

6. 2005-8-29 6 Profit Continues to Grow EBIT Analysis 1H 20041H 2005 EBIT Total 28.562 EBIT Total 33.682 Refining Profit Change Chemicals Profit Growth E&P Profit Growth Marketing Profit Change Corporate & Others Unit: RMB billion

7. 2005-8-29 7 Crude oil production (mm bbls) 136.69 135.85 0.62 Natural gas production (bcf) 104.8 100.06 4.74 Lifting cost (USD/bbl) 6.98 6.28 11.15 Newly added proved oil & gas reserves (mm boe) 172.04 269.86 -36.25 E&P – Stable Production 1H 051H 04 Change (%) Period-end proved oil and gas reserves (mm boe) 3,791 3,773 0.48 30 June 200531 Dec. 2004Change (%)

8. 2005-8-29 8 E&P Segment Performance Crude Oil and Natural Gas Realized Price RMB million EBIT of E&P Segment Crude Oil USD/bbl Natural Gas USD/mcf

9. 2005-8-29 9 Refining – Efficient Operation at Full Utilization Crude Oil Processed (mm tonnes) 68.08 64.98 4.77 - Sour Crude Oil Processed (mm tonnes) 16.87 13.39 25.99 Gasoline Production (mm tonnes) 11.32 11.42 -0.88 Diesel Production (mm tonnes)26.31 24.72 6.43 Kerosene Production (mm tonnes)3.39 3.03 11.88 Light Chemical Feedstock Production (mm tonnes)10.16 8.92 13.90 Light Yield (%)74.24 74.06 18 bps Refining Yield (%)93.11 93.10 1 bp 1H 051H 04 Change (%)

10. 2005-8-29 10 Refining Segment Performance EBIT of Refining Segment Refining Margin / Cash Operating Cost USD/bbl RMB million

11. 2005-8-29 11 Marketing - Optimized Marketing Network, Expanded Retail and Distribution Domestic sales of refined oil products (mm tonnes) 50.77 45.49 11.61 Incl. Retail (mm tonnes) 29.56 25.12 17.68 Distribution (mm tonnes)10.39 9.56 8.68 Total gas stations 30,352 30,682 -1.08 Incl. Self-operated stations 26,870 25,306 6.18 Franchised stations 3,482 5,376 -35.23 Annual average throughput of self-operated stations (tonnes/station) 2,200 1,986 10.78 1H 051H 04 Change (%)

12. 2005-8-29 12 Marketing Segment Performance 149.93153.38 Marketing cash operating cost (RMB/tonne) 1H20051H2004 EBIT of Marketing Segment RON #90 Gasoline Guidance Price RMB/Tonne #0 Diesel Guidance Price RMB/Tonne RMB million

13. 2005-8-29 13 Chemicals — Production Aligned with Market Demand Unit: 1,000 tonnes Ethylene 2,434 2,081 16.96 Synthetic resin 3,528 3,102 13.73 Incl. performance compound 1,689 1,545 9.32 Synthetic rubber 308 297 3.70 Monomers & polymers for synthetic fibers 3,152 3,030 4.03 Synthetic fiber 756 824 -8.25 Incl. differential fiber 384 359 6.96 Urea 998 1,322 -24.51 Data above for 1H 2004 and 1H 2005 include production from the chemical assets acquired from Sinopec Group at the end of 2004. 100% production from YPC-BASF and Shanghai-Secco was calculated into the statistics in 2005. 1H 051H 04 Change (%)

14. 2005-8-29 14 Chemicals Segment Performance 148.87142.64 Ethylene cash operating cost (USD/tonne) 1H20051H2004 EBIT of Chemicals Segment Chemicals Price Spread (1990 - Jul. 2005) RMB million USD/tonne

15. 2005-8-29 15 Cost Reduction Total cost reduction reached RMB 1.282 billion in 1H 2005 RMB million 2,500 1,282

16. 2005-8-29 16 Capital Expenditure 1H 2005 Capex: RMB22.55 bn E & P –10.077 bn, focus on progressive exploration in the existing blocks and pre- exploration in new blocks Refining – 3.451 bn, second phase of Ningbo-Shanghai-Nanjing pipeline is close to completion, and a number of revamping projects are progressing smoothly Marketing – 6.384 bn, south-west oil pipeline at its final stage, construction and acquisition of petrol stations on schedule Chemicals – 2.242 bn, a batch of key revamping projects, such as Maoming ethylene project and chemical fertilizer revamping projects, progressed smoothly 1H 2005 Capex Breakdown In addition, RMB1.854 bn invested in Shanghai- Secco and other JV projects 62.00 22.55 RMB billion

17. 17 1H 2005 Financial Performance

18. 2005-8-29 18 Significant Growth in Profit Unit: RMB million Turnover and other operating revenues368,454279,44531.85 EBITDA48,83743,96111.09 EBIT33,68228,56217.93 Profit for the period 21,76918,92115.05 Attributable to equity holders of the parent 19,65316,74617.36 Minority interests2,1162,175-2.71 EPS (RMB)0.2270.19317.36 1H 051H 04 Change (%)

19. 2005-8-29 19 Financial Highlights Unit: RMB million Short-term debt39,37432,307 Long-term debt73,73560,822 Equity attributable to equity holders of the parent205,757193,040 Cash flow from operating activities 21,08220,698 Cash flow for investing activities31,40031,050 Cash flow from financing activities7,5539,500 Cash & cash equivalents - opening balance16,38116,263 Cash & cash equivalents - ending balance13,61615,410 As of 30 June 2005As of 31 Dec. 2004 1H 051H 04

20. 2005-8-29 20 Returns and Dividends ROCE ROCE for 1H 2005 was not annualized Dividends RMB Yuan

21. 21 2H 2005 Business Prospects

22. 2005-8-29 22 Market Environment in 2H 2005 China’s economy is expected to maintain rapid growth –Demand for oil products and petrochemicals will increase steadily Crude oil price will remain high and volatile Global refining and chemical sectors should remain favorable Appreciation of RMB will lower the purchasing cost of crude oil Price control on refined oil products will remain effective

23. 2005-8-29 23 E & P Implement aggressive resource strategy, expedite exploration and development, pursue 100% reserve replacement Build up production capacity in Tahe oilfields in western China and shallow water blocks of Shengli oilfields in eastern China Expand natural gas market Crude oil production (mmbbl)140.20136.692.57 Natural gas production (bcf)1,0901,0484.01 1H ActualChange%2H Plan

24. 2005-8-29 24 Diversify crude resources to reduce purchasing cost Take advantage of pipeline transportation and optimize resource allocation to reduce transportation cost Adjust crude oil processing scheme and product mix to increase high value-added product volumes Strengthen management and ensure safe, stable and efficient operation Refining Crude throughput (million tonnes)72.0068.085.76 1H ActualChange%2H Plan

25. 2005-8-29 25 Conduct market analysis and expand sales volumes appropriately Strengthen management of stations to increase retail and direct sales volumes Fully leverage logistics network to optimize allocation of resources, to reduce cost Expedite construction of pipelines and stations in strategic locations to further optimize network Accelerate application of petrol IC cards to realize the target of “One Card, All Sinopec Stations” Marketing Total domestic sales (million tonnes) 52.0050.772.42 Incl. Retail (million tonnes)30.4029.562.84 Direct sales (million tonnes)10.6010.392.02 1H ActualChange%2H Plan

26. 2005-8-29 26 Chemicals Fully exploit newly added capacity and increase production of major chemical products Implement market-oriented strategies and increase production of performance compound resins and differential fibers Fully leverage newly established Chemical Sales Company and improve competitiveness Ethylene production (million tonnes)2.752.43412.98 1H ActualChange%2H Plan

27. 2005-8-29 27 Conclusion Continue to implement operating strategy of “Reform, Adjustment, Innovation, and Development” Strive to achieve whole year operating targets Maintain sound operating performance Achieve sustainable and efficient growth

28. 2005-8-29 28 http://www.sinopec.com For Further Information 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