29 April 2010

China Petroleum & Chemical Corporation

Q1 2010 Results Announcement

2010-4-29 2

Disclaimer

As required by the CSRC, financial statements of the first quarter of Sinopec Corp. (the

“Company”) were prepared under China Accounting Standards for Business Enterprises. The

Company has adjusted part of the financial data in accordance with the International Financial

Reporting Standards hereby for the reference of international investors. Financial data of the first

quarter contained in the presentation and presentation materials are unaudited.

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, 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.

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Market Environment in Q1 2010

China’s GDP grew by 11.9% in the first quarter

Crude oil traded within a narrow range, but the trend was positive

Domestic demand for natural gas, oil products and chemical products increased steadily

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Financial Performance

RMB million Q1 2009 Q1 2010 Change %

Turnover and other revenues

227,499 438,209 92.6

EBITDA 28,828 34,819 20.8

EBIT 16,701 21,517 28.8

Net profit attributable to equity shareholders of the company

11,281 15,785 39.9

EPS (RMB) 0.130 0.182 39.9

EBIT of Each Segment

RMB million

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Financial Position

RMB million 31 Dec 2009 31 Mar 2010

Short-term debt 58,898 61,740

Long-term debt 108,828 111,359

Total equity attributable to equity shareholders of the company

375,661 391,312

RMB million Q1 2010

Net cash flow generated from operating activities

27,995

Net cash flow used in investing activities

31,375

Net cash flow generated from financing activities

4,702

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Note: 1 tonne=7.1 barrels, 1 cubic meter=35.31 cubic feet

E&P—Operational Summary & Performance

Q1 2009 Q1 2010 Change%

Crude oil production (mm bbls) 73.81 73.70 (0.1)

Natural gas production (bcf) 69.98 98.65 41.0

Realized price of crude oil (RMB/tonne) 1,599.01 3,315.94 107.4

Realized price of natural gas

(RMB/thousand cubic meter)961.53 1,006.53 4.7

Lifting cost (RMB/tonne) 604.79 610.56 1.0

EBIT （ RMB million） 2,756 8,625 213.0

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Refining—Operational Summary

Q1 2009 Q1 2010 Change%

Refinery throughput (mm tonnes) 41.11 49.50 20.4

Gasoline production (mm tonnes) 8.16 8.62 5.6

Diesel production (mm tonnes) 15.38 18.00 17.0

Kerosene incl. jet fuel production (mm tonnes)

2.18 2.87 31.7

Light chemical feedstock production (mm tonnes)

5.77 8.50 47.3

Light stream yield(%) 74.93 75.75 82bps

Refining yield(%) 93.66 94.80 114bps

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Refining marginRMB/tonne

Refining Margin / Cash Operating Cost

RMB million

EBIT of Refining Segment

Cash operating costRMB/tonne

Refining—Performance

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Marketing—Operational Summary

Q1 2009 Q1 2010 Change%

Domestic sales of refined oil products(mm tonnes)

26.43 32.84 24.3

Incl. Retail (mm tonnes) 17.37 20.19 16.2

Distribution (mm tonnes) 5.05 7.76 53.7

Wholesale (mm tonnes) 4.01 4.89 21.9

Annualized average pump volume per station (tonnes)

2,420 2,769 14.4

31 Dec 2009 31 Mar 2010 Change%

Total number of service stations (unit) 29,698 29,795 0.3

Incl. Company-operated 29,055 29,158 0.4

Franchised 643 637 (0.9)

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EBIT of Marketing Segment

RMB million

Marketing—Performance

RMB/tonne Q1 2009 Q1 2010

Marketing cash operating cost

162.6 149.0

Maximum retail price ofRON 90# gasoline and 0# diesel

RMB/tonne USD/bbl

10

20

30

40

50

60

70

80

90

100

110

3000

4000

5000

6000

7000

8000

9000

09-1 09-4 09-7 09-10 10-1 10-4

RON90 Gasoline0# DieselDubai Crude (Right Scale)

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Chemicals—Operational Summary

‘000 tonnes Q1 2009 Q1 2010 Change %

Ethylene 1,488 2,028 36.3

Synthetic resins 2,416 2,917 20.7

Synthetic rubbers 198 240 21.2

Monomers & Polymers for synthetic

fibers1,723 2,133 23.8

Synthetic fibers 315 327 3.8

Urea 362 487 34.5

Note: The above data includes 100% production of JVs.

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EBIT of Chemicals Segment

RMB million

Chemicals—Performance

Chemicals Price SpreadUSD/tonne

2010-4-29 13

Capital Expenditure

Total Capex in Q1: 16.8bn

RMB billion E&P

Sichuan-East China Gas Project, Shengli, Northwest and Southwest Oil Fields as well as pipeline construction.

Refining Revamping crude adaptability;

Construction of new storage facilities and pipelines.

Chemicals Construction of major Ethylene

projects.

Marketing Accelerated construction of

pipelines and newly developed 337 service stations in key areas

2010-4-29 14

http://www.sinopec.com

For Further Information

Investor Inquiries

Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386Email: ir@sinopec.com

Hong Kong: Tel: (852) 28242638 Fax: (852) 28243669Email: ir@sinopechk.com

New York : Tel: (212) 759 5085 Fax: (212) 759 6882Email: fangzq@sinopecusa.com

Media Inquires

Tel: (8610)59960028Fax: (8610) 59960386Email: media@sinopec.com