1 China Petroleum & Chemical Corporation Results for the Year Ended December 31, 2005 April 3, 2006 Hong Kong

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, 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 Sinopec Corp.’s control. In addition, Sinopec Corp. makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements. Forward Looking Statements

Agenda Reform and Development Achievements during the 2 nd Session of BOD 2005 Operating Results 2006 Outlook

4 Reform and Development Achievements during the 2 nd Session of BOD

Puguang Gas Field Confirmed by Ministry of Land and Resources. Reserves based on estimates at end 2005 ： Aggregate proved recoverable reserves ： bcm Technical recoverable reserves ： bcm Puguang Puguang #5 Puguang #6 Puguang #2 Puguang #4 Puguang #7 Puguang #1 Puguang #3 Laojun Dawan Maoba Maoba #3 Maoba #1 Maoba #2 Puguang W.

Accelerate Northeastern Sichuan E&P Development Achieve 4 bcma of commercial volume by 2008 Achieve 8 bcma of commercial volume by 2010 Build related gas pipeline from Northeastern Sichuan to Jinan, Shandong Expand exploration in Sichuan Basin and surrounding regions through continued use of exploration theory on marine facies and innovative exploration technology Puguang Gas Field Jinan

Sustained Growth in Profit /04 Change% (RMB million) Turnover and Other Revenues832,532619,783449,001340, EBITDA98,22795,41166,83452, EBIT66,81463,06938,88328, Net Profit 40,92036,01922,42416, EPS (RMB) Cash from Operating Activities 76,49769,08162,09753, Cash & Cash Equivalent - Ending Balance 13,74516,38116,26317, Short-term Debt40,41132,30729,18131, Long-term Debt67,05960,82248,25737, Shareholders’ Equity223,556193,040171,515154, Note: Financial data for 2003 in the presentation are pro-forma data in accordance with IFRS.

Solid Financial Performance % ROCE Debt / Total Capital and EBITDA / Interest Coverage Debt / Total Capital, % EBITDA / Interest Coverage

Sustained Growth in Dividend Payout RMB billionRMB cents/Share

Corporate Governance Improved corporate governance Increased role of independent directors and of 3 Board Committees to improve decision-making Established and improved internal audit and control systems –Established and tested in 2003 –Fully operational Jan. 1, 2005 –Revised and improved end of 2005

Reforms Flattened management structure and reduced headcount rigorously –Reduced headcount by 54,000 and eliminated 1,263 middle management positions during the past three years –Reduced headcount by 140,000 since IPO Privatised subsidiaries to streamline management and increase efficiency –Completed privatization of Beijing Yanhua and ZRCC –Four additional listed subsidiaries to be privatized in 2006 Streamlined businesses and brands –Established Chemical Sales Company Entered into strategic partnerships with major clients, service providers and suppliers

Business Portfolio Improvements Optimized Investments –Scaled up assets base –Completed major JV projects on time Strengthened core business –Acquired core assets from the Group –Spun off non-core businesses –Disposed of RMB 12.7 billion in non-performing assets over past three years RMB billion Total Capex reached RMB bn in the past 3 years

Research & Development Applied for 2,450 new patents during the 2 nd Session of BOD with 1,871 approved by end 2005; owned 5,466 valid patents at end 2005 E&P: Major break-through in exploration theory and technology of marine facies –Discovery of Puguang Gas Field in Sichuan Basin Refining: low-cost upgrades in product quality using proprietary technology Chemicals: China 1 st Class of Innovation Award for Magnetic Stabilized Hydro- Reactor Improved business management by using information systems

Human Resources Seamless transition in senior management Intensive company-wide training programs Competitive, merit-based compensation plan Better motivated and skilled employees across entire company

Social Responsibilities Promoted HSE and sustainable development strategy –Improved working environment and workers’ safety –Increased safety awareness and operated safely –Reduced water consumption; fresh water consumption down 8.2%; reduced waste discharges, COD discharged down 15.6% Contributed to society –Funded education and poverty reduction programs

Core Competency Improved Asset base enlarged –Total assets grew 38% vs Strengthened core businesses –Reserve replacement exceeded 100%; Crude oil and natural gas production increased 3.3% and 24.1% respectively –Refining capacity increased 19.1% and refining throughput grew 33.3% –Oil sales volume expanded 49.2% with retail sales up 82.9% –Ethylene production increased 95.8% Significant Increase in Enterprise Value

Operating Results

Market Environment Robust economic growth in China, GDP increased 9.9 ％ –Domestic consumption of refined oil products increased 4.7% –Domestic ethylene-equivalent consumption grew 8.6% Volatile, high international crude oil prices Tight control on domestic refined oil product prices Volatile, high chemical product prices with sustained increases in raw materials cost

Newly Added Proved Oil Reserves (mm bbls) Newly Added Proved Gas Reserves (bcf) Proved Oil Reserves (mm bbls) 3,2943,267 3, Proved Gas Reserves (bcf) 2,9523,033 2, Crude Oil Production (mm bbls) Natural Gas Production (bcf) Lifting Cost (USD/bbl) E&P Segment - Operating Results /04 change% 2005 Notes: In this presentation, 1 USD = 8.18 RMB for 2005 data; 1 USD = 8.28 RMB for previous years data

E&P – Segment Performance International Crude Oil Price USD/bbl RMB million EBIT of E&P Segment Crude Oil and Natural Gas Realized Price USD/bblUSD/mcf

Refining Segment - Operating Results Crude Oil Processed (mm tonnes) Refining Utilization Rate (%) bps Sour Crude Oil Processed (mm tonnes) Gasoline Production (mm tonnes) Diesel Production (mm tonnes) Light Chemical Feedstock Production (mm tonnes) Kerosene Production (mm tonnes) Light Stream Yield (%) bps Refining Yield (%) bps /04 change% 2005

Refining Segment - Performance USD/bbl Refining Margin / Cash Operating Cost RMB million EBIT of Refining Segment

Marketing – Segment Operating Results Domestic Sales of Refined Products (mm tonnes) Incl. Retail (mm tonnes) Distribution (mm tonnes) Total Number of Gas Stations (Unit) 29,64730,063 30, Incl. COCO Gas Stations 27,36726,581 24, Franchised Gas Stations 2,2803,482 5, Annual Average Pump Volume Per Station (tonne/station) 2,3212,003 1, /04 change% 2005

Marketing Segment - Performance Marketing Cash Operating Cost EBIT of Marketing Segment RMB million RON 90# Gasoline Guidance Price RMB/Tonne 0# Diesel Guidance Price RMB/Tonne

Chemicals Segment - Operating Results Unit: 1,000 tonnes Ethylene 5,3194,074 3, Synthetic Resins 7,6056,221 5, Incl. Performance Compound 3,4983,034 2, Synthetic Rubbers Monomers & Polymers for Synthetic Fibers 6,7256,021 5, Synthetic Fibers 1,5701,654 1, Incl. Differential Fiber Urea 1,7802,630 2, Notes 1: Operation data for 2003 and 2004 include production from Maoming ethylene and chemical assets acquired from Sinopec Group at the end of Notes 2: Above data include the production of Shanghai Secco and BASF-YPC /04 change% 2005

Chemicals Segment - Performance EBIT of Chemicals Segment RMB million Chemicals Price Spread (1990 ~ Mar 2006) USD/tonne Ethylene Cash Operating Costs USD/tonne

Cost Reduction RMB million

Capex 2005 Capex RMB 58.7 billion RMB bn Capex in 2005 E&P ： RMB23.1 billion; improvement in reserve replacement; growth in oil and gas production Refining ： RMB14.1 billion; increased capacity by 6.7 mmta; commercialized Yong-Hu-Ning crude oil pipeline Marketing ： RMB11.0 billion; Southwestern oil pipeline fully operational; net increase of 786 gas stations Chemicals ： RMB9.4 billion; Maoming ethylene expansion, PTA of Shanghai Petrochemical and Yangzi Petrochemical, etc.. Corporate and Others ： RMB1.2 billion; upgrade IT infrastructure Additional RMB2.6 billion capex for Shanghai Secco and other JVs

Outlook

Market Outlook Chinese economy expected to maintain rapid growth –Consumption of refined oil products and chemicals to remain stable Crude oil prices expected to remain high and volatile Domestic refined oil product prices will progressively be brought to levels determined by reform of petroleum pricing regime Margin of domestic chemicals industry will continue to decline

Production Plan Crude Oil Production (mm tonnes) Natural Gas Production (bcm) Refining Throughput (mm tonnes) Domestic Sales of Refined oil (mm tonnes) Incl. Retail (mm tonnes) Ethylene Production (1,000 tonnes) 5,9205, Change %

Capex Plan 2006 Capex Plan: RMB 70.0 billion RMB billion E&P ： Improve low yield reserve recovery, reserve replacement and accelerate Puguang Gas Field development Refining ： Expand crude pipeline network and related facilities; upgrade Guangzhou and Yanhua refineries; Qingdao refinery project Chemicals ： Complete Maoming Ethylene, Yangzi PX/PTA and 3 fertilizer plants projects; plan future greenfield projects Marketing ： Optimize marketing network, increase pipeline transportation and improve operation efficiency

Cost Reduction Plan RMB million Total RMB 2.5 bn

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