China Petroleum & Chemical Corporation 1H 2008 Results Announcement August 26, 2008 Hong Kong

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. 2008-08-26

Agenda 1H 2008 Business Overview 1H 2008 Operational Results 2H 2008 Operational Plan 2008-08-26

1H 2008 Business Overview

Review of Market Environment China’s economy maintained steady and rapid growth, GDP increased by 10.4% Domestic consumption of refined oil products grew by 13.9% Domestic ethylene-equivalent consumption grew by 2.5% International crude oil prices surged Domestic refined oil product prices remained tightly controlled Chemical product prices kept rising, driven by the surge of feedstock price 2008-08-26

Profitability 1H 2007 1H 2008 Change % RMB million 1H 2007 1H 2008 Change % Turnover, other revenues and other income 563,870 768,185 36.2 EBITDA 73,054 29,657 (59.4) EBIT 53,584 7,222 (86.5) Net profit attributable to shareholders of the Company 36,375 8,255 (77.3) EPS (RMB) 0.420 0.095 2008-08-26

Financial Position RMB million 1H 2007 1H 2008 Net cash flow from operating activities 62,295 2,640 Net cash flow used in investing activities (46,465) (46,901) Net cash flow (used in)/ generated from financing activities (12,960) 45,072 As of 31 Dec. 2007 As of 30 Jun. 2008 Short-term debts 44,654 64,758 Long-term debts 83,134 101,529 Equity attributable to shareholders of the Company 307,433 310,871 2008-08-26

Capital Expenditure E&P: RMB 20.981 billion. Newly added production capacity of crude oil was 2.79 million tonnes per year and that of natural gas was 480 million cubic meters per year Refining: RMB 3.849 billion. Qingdao project and upgrades of Gaoqiao, Wuhan and Luoyang completed. A new crude terminal has achieved mechanical completion at Caofeidian port in Bohai Bay Marketing and Distribution: RMB 4.548 billion. Improved marketing network; newly built 195 service stations Chemicals: RMB 5.907billion. YPC 100 ktpa butadiene commenced production; Tianjin, Zhenhai ethylene projects and Jinling PX project progressed on schedule Corporate and others: RMB 1.251 billion RMB Million 2008-08-26

Return and Dividend ROCE Dividend Per Share RMB Yuan Note: ROCE for 1H 2008 is not annualized 2008-08-26

1H 2008 Operational Results

E&P－Operational Summary 1H 2007 1H 2008 Change % Crude oil production (mm bbls) 143.88 147.38 2.4 Natural gas production (bcf) 139.55 144.15 3.3 Lifting cost (RMB/tonne) 550 604 9.8 Newly added proved reserves of crude oil (mm bbls) 147.88 159 7.3 Newly added proved reserves of natural gas (bcf) 158.63 186.92 17.8 As of 31 Dec. 2007 As of 30 Jun. 2008 Change % Proved reserves of crude oil (mm bbls) 3,024 3,035 0.4 Proved reserves of natural gas (bcf) 6,330.8 6,373.6 0.7 Proved reserves of oil and gas (mm boe) 4,079 4,097 2008-08-26

E&P Segment Performance Crude Oil and Natural Gas Realized prices EBIT of E&P Segment Crude Oil RMB/tonne Natural Gas RMB/’000 cubic meter RMB million 2008-08-26

Refining－Operational Summary 1H 2007 1H 2008 Change % Refinery throughput (mm tonnes) 78.94 84.25 6.7 Gasoline production (mm tonnes) 12.79 13.78 7.7 Diesel production (mm tonnes) 29.91 33.80 13.0 Kerosene production (mm tonnes) 4.10 3.94 (3.9) Light chemical feedstock production (mm tonnes) 12.26 12.07 (1.5) Light yield (%) 73.93 74.68 75bps Refining yield (%) 93.73 93.87 14bps 2008-08-26

Refining Segment Performance Refining Margin / Cash Operating Cost EBIT of Refining Segment Refining Margin (RMB/tonne) Cash Operating Cost (RMB/tonne) RMB million 2008-08-26

Marketing－Operational Summary 1H 2007 1H 2008 Change % Domestic sales of refined oil products (mm tonnes) 57.92 63.02 8.8 Incl. Retail (mm tonnes) 36.01 42.91 19.2 Distribution (mm tonnes) 10.15 10.37 2.2 Wholesale (mm tonnes) 11.77 9.73 (17.3) Total gas stations 28,898 29,188 1.0 Incl. self-operated stations 28,153 28,551 1.4 Franchised stations 745 637 (14.5) Annualized average throughput of self-operated stations (tonnes/station) 2,558 3,006 17.5 2008-08-26

Marketing Segment Performance RON #90 Gasoline Guidance Price EBIT of Marketing Segment RMB/Tonne RMB million #0 Diesel Guidance Price RMB/Tonne RMB/tonne 1H 2007 1H 2008 Marketing cash operating cost 133.80 152.91 2008-08-26

Chemicals－Operational Summary Unit: 1,000 tonnes 1H 2007 1H 2008 Change % Ethylene* 3,273 3,307 1.0 Synthetic resin* 4,774 4,923 3.1 Monomers & polymers for synthetic fiber 3,938 3,768 (4.3) Synthetic fiber 721 681 (5.5) Synthetic rubber 360 460 27.8 Urea 813 685 (15.7) * 100% production from YPC-BASF and Shanghai-Secco included. 2008-08-26

Chemicals Segment Performance Chemicals Price Spread (2002 – Jul. 2008) EBIT of Chemicals Segment RMB million USD/tonne RMB/tonne 1H 2007 1H 2008 Ethylene cash operating cost 1,320 1,288 2008-08-26

2H 2008 Operational Plan

Market Environment for 2H 2008 China’s economy is expected to maintain growth momentum Demand for oil products and petrochemicals will increase steadily International crude oil prices will remain high Domestic refining business will still be under pressure Demand growth for chemical products may slow down 2008-08-26

2H 2008 Operational Plan 2H 2008 E FY 2008 E Crude oil production (mm tonnes) 21.24 42.00 Natural gas production (bcm) 4.20 8.28 Refinery throughput (mm tonnes) 89.75 174.00 Total domestic sales of refined oil products (mm tonnes) 64.00 127.02 Ethylene production (mm tonnes) 3.26 6.57 2008-08-26

For Further Information http://www.sinopec.com Investor Relations Beijing: Tel: (8610) 64990060 Fax: (8610) 64990022 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 2008-08-26