1. China Petroleum & Chemical Corporation 1H 2006 Results Announcement August 28, 2006 Hong Kong

2. 2006-8-282 Disclaimer 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.

3. 2006-8-283 Agenda 1H 2006 Financial Highlights Growth Strategy 1H 2006 Operational Results 2H 2006 Business Prospects

4. 1H 2006 Financial Highlights

5. 2006-8-285 Profit Growth RMB million1H 20061H 2005Change% Turnover and other operating revenues493,128368,45433.84 EBITDA50,74248,8373.90 EBIT34,23833,6821.65 Profit attributable to: Equity shareholders of the Company 21,40619,6538.92 Minority interests 1582,116-92.53 EPS(RMB)0.2470.2278.92

6. 2006-8-286 Financial Position RMB million As of 30 June 2006 As of 31 Dec. 2005 Short-term debt65,19940,411 Long-term debt68,27967,059 Total equity attributable to equity shareholders of the Company 237,159223,556 RMB million1H 20061H 2005 Net cash flow from operating activities 21,47821,082 Net cash flow from investing activities-54,327-31,400 Net cash flow from financing activities29,0507,553 Cash & cash equivalents - beginning balance13,74516,381 Cash & cash equivalents - ending balance9,93913,616

7. 2006-8-287 ROCE and Dividend ROCE ROCE for 1H 2006 is not annualized Dividend Per Share RMB Yuan

8. Growth Strategy

9. 2006-8-289 Market Environment Continued high crude prices Cyclical fluctuation in petrochemical industry Chinese economy expected to maintain rapid growth  Domestic demand for oil products and petrochemicals will continue to grow Increasing competition, along with gradual opening up of markets

10. 2006-8-2810 Improve Governance and Deepen Reforms Improve governance practices  Expand roles of Audit Committee, Strategic Committee, Remuneration & Examination Committee, and Independent Directors  Enforce internal controls and improve risk management Deepen management reforms  Integrate management of business units and subsidiaries  Empower business units to enhance efficiency  Strengthen centralized decision-making process for significant business activities and allocation of resources

11. 2006-8-2811 Expand Resources Stabilize mature fields Develop new fields Explore new areas Tarim Basin Chaidamu Basin Sichuan Basin Ordos Basin Songliao Basin x10,000 tonnes oil equivalent Production Outlook

12. 2006-8-2812 Puguang Gas Field in Northeast Sichuan 9 bcm per annum of capacity by 2008 12 bcm per annum of capacity by 2010 Puguang Dawan Maoba Shuangmiao

13. 2006-8-2813 Expand Markets Refined oil marketing  Leverage brand to increase retail and direct sales Chemical products  Leverage centralized marketing to increase direct sales and increase competitiveness  Increase direct sales of chemical products to 65% million tonnes Sales Outlook for oil products

14. 2006-8-2814 Align Refining & Chemicals Capacity with Market Demand and Resource Availability Million tonnes Thousand tonnes

15. 2006-8-2815 Develop Modern Logistics By year 2008 ， 90% of crude oil and 40% of oil products shall be transported through pipelines

16. 2006-8-2816 Improve Assets Value through Innovation Improve scientific & technological innovation capabilities  Develop proprietary technology  Integrate various existing technologies to achieve leading edge  Adapt and improve licensed technology Employ proprietary technology in key areas  Exploration and production of oil and gas  Efficient use of resources

17. 2006-8-2817 Focus on Environment and Conservation Improve HSE management Conserve energy and protect environment Leverage scientific & technological advances to achieve clean production Expand recycling and use resources more efficiently Achieve low consumption and low emission

18. 1H 2006 Operational Results

19. 2006-8-2819 Review of Market Environment China’s GDP grew at 10.9% Domestic consumption of oil products increased by 7.1% Domestic consumption of petrochemicals (ethylene equivalent) increased by 6.3% International crude oil prices were high and volatile Petrochemical prices remained high Refined oil products still subject to price controls

20. 2006-8-2820 E&P – Operational Summary 1H 20061H 2005Change% Crude oil production (mm bbls) 140.89136.693.07 Natural gas production (bcf) 126.2104.820.42 Lifting cost (RMB/tonne) 46141012.43 Newly added proved reserves of crude oil (mmbbls)143.8985.6967.92 Newly added proved reserves of natural gas (bcf)175.5518.1-66.13 30 Jun. 2006 31 Dec. 2005 Change% Proved reserves of crude oil (mm bbls) 3,297 3,294 0.09 Proved reserves of natural gas (bcf) 3,001.0 2,951.7 1.67 Proved reserves of oil and gas (mm boe) 3,797 3,786 0.29

21. 2006-8-2821 E&P - Segment Performance Crude Oil and Natural Gas Realized Price EBIT of E&P Segment Crude Oil RMB/tonne Natural Gas RMB/’000 cubic meter RMB million

22. 2006-8-2822 Refining- Operational Summary 1H 20061H 2005Change% Crude Oil Processed (mm tonnes) 71.6868.085.29 - Sour Crude Oil Processed (mm tonnes) 17.6016.874.33 Gasoline Production (mm tonnes) 11.2311.32-0.80 Diesel Production (mm tonnes)28.3226.317.64 Kerosene Production (mm tonnes)3.183.39-6.19 Light Chemical Feedstock Production (mm tonnes) 11.4710.1612.89 Light Yield (%)74.8174.2457bps Refining Yield (%)93.7393.1162bps

23. 2006-8-2823 Refining - Segment Performance Refining Margin / Cash Operating Cost Refining Margin (RMB/tonne) EBIT of Refining Segment RMB million Cash Operating Cost (RMB/tonne)

24. 2006-8-2824 Marketing – Operational Summary 1H 20061H 2005 Change% Domestic sales of refined oil products (mm tonnes) 54.3250.776.99 Incl. Retail (mm tonnes) 35.3329.5619.52 Distribution (mm tonnes)9.6910.39-6.74 Total gas stations 29,19830,352-3.80 Incl. Self-operated stations 27,62826,8702.82 Franchised stations 1,5703,482-54.91 Annual average throughput of self-operated stations (tonnes/station) 2,5582,20016.27

25. 2006-8-2825 Marketing - Segment Performance RMB/tonne 1H20051H2006 Marketing cash operating cost 149.93149.75 RON #90 Gasoline Guidance Price RMB/Tonne EBIT of Marketing Segment RMB million #0 Diesel Guidance Price RMB/Tonne

26. 2006-8-2826 Unit: 1,000 tonnes 1H 20061H 2005Change% Ethylene 3,0312,43424.53 Synthetic resin 41843,52818.59 Monomers & polymers for synthetic fibers 35773,15213.48 Synthetic fiber 7707561.85 Synthetic rubber 3183083.25 Urea 906998-9.22 100% production from YPC-BASF and Shanghai-Secco was included. Chemicals — Operational Summary

27. 2006-8-2827 Chemicals - Segment Performance RMB/tonne1H20051H2006 Ethylene cash operating cost 1,2361,262 Chemicals Price Spread (1990 - Jul. 2006) USD/tonne EBIT of Chemicals Segment RMB million

28. 2006-8-2828 Cost Saving RMB million 1H2006 Cost Saving

29. 2006-8-2829 Capital Expenditure 1H2006 Capex RMB million Exploration and Production: RMB 11.68 billion. Newly built production capacity of crude oil and natural gas was 2.95 million tonnes per year and 758 million cubic meters per year respectively Refining: RMB 5.12 billion. Construction of the Yizheng-Changling crude oil pipeline completed; the refinery revamping projects in Guangzhou, Yanshan and Qingdao progressed smoothly Marketing and Distribution: RMB 6.68 billion. Construction and acquisition of gas stations in key areas continued with 353 newly added stations Chemicals: RMB 5.93 billion. Maoming ethylene expansion project, ethylene projects of Fujian and Tianjin as well as other projects such as synthetic fiber materials, synthetic rubber, and the fertilizer facilities revamping projects were proceeding on schedule.

30. 2H 2006 Business Prospects

31. 2006-8-2831 Market Environment China’s economy is expected to maintain its rapid growth  Demand for oil products and petrochemicals will increase steadily International crude oil prices and chemical prices will remain high Refining business will remain under pressure Intensified market competition in domestic refined oil products (WTO – opening of wholesale end 2006)

32. 2006-8-2832 E & P Increase oil & gas production Add capacity in promising areas Accelerate preparation for Puguang Gas Field development 2H PlanFY2006 Crude oil production (mm tonnes)20.1640.00 Natural gas production (bcm)3.57.07

33. 2006-8-2833 Refining Diversify crude sourcing to reduce purchasing cost Proactively adjust product mix Improve throughput of high value-added products 2H PlanFY2006 Crude throughput (mm tonnes)73.30144.98

34. 2006-8-2834 Marketing Closely track market trends and align marketing strategy accordingly Optimize resource allocation to maintain market position Strengthen management and optimize marketing structure 2H PlanFY2006 Total domestic sales of refined oil products (mm tonnes) 56.00110.32

35. 2006-8-2835 Chemicals 2H PlanFY2006 Ethylene production (mm tonnes)3.036.06 Ensure safe and stable operations, and smooth start-up of new facilities Optimize product mix, increase production of profitable and high-demand products Leverage functions of chemical sales company

36. 2006-8-2836 Conclusion Continue policy of “Reform, Restructuring, Innovation and Development ” Achieve 2006 production and operations targets Maintain sound performance

37. 2006-8-2837 For Further Information http://www.sinopec.com 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