China Petroleum & Chemical Corporation

2009 Annual Results Announcement

March 29, 2010Hong Kong

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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.

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Agenda

2009 Overview

2009 Operational Results

2010 Operational Plan

2009 Overview

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Chinese GDP increased by 8.7%

Crude oil price rebounded from the bottom

Reform of pricing, taxation and levies on oil products reversed huge

historic losses suffered by domestic refining industry

Domestic demand for refined oil products increased quarter by

quarter, and apparent consumption grew by 0.9% over 2008

Domestic demand for chemical products recovered gradually, and

apparent consumption of ethylene equivalent grew by 8% over 2008

Review of Market Environment

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2007 2008 2009 yoy%

Crude oil production (mm bbls) 291.7 296.8 301.2 1.5

Natural gas production (bcf) 282.6 293.1 299.0 2.0

Refinery throughput (mm tonnes) 164.00 171.14 182.62 6.7

Domestic sales of refined oil products (mm tonnes)

119.39 122.98 124.02 0.8

Ethylene production* (‘000 tonnes) 6,534 6,289 6,713 6.7

Segment EBIT (RMB million)

E&P 48,766 66,569 19,644 (70.5)

Refining (10,997) (63,635) 23,077 -

Marketing 35,904 38,519 30,300 (21.3)

Chemicals 13,303 (12,950) 13,615 -

Operational Summary

Note: * Includes 100% production of JVs

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RMB million 2007 2008 2009 yoy%

Turnover, other operating revenues and other income 1,205,860 1,495,148 1,345,052 (10.0)

EBITDA129,144 72,657 134,918 85.7

EBIT85,496 26,336 84,431 220.6

Net profit attributable to equity shareholders of the Company 55,914 28,525 61,760 116.5

EPS (RMB)0.645 0.329 0.712 116.5

Financial Performance

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RMB million 31 Dec. 2007 31 Dec. 2008 31 Dec. 2009

Short-term debts 47,074 75,516 58,898

Long-term debts 83,134 90,254 108,828

Total equity attributable to equity shareholders of the Company

307,897 327,889 375,661

Debt/Capital Ratio 28.1% 27.9% 28.0%

RMB million 2007 2008 2009

Net cash generated from operating activities

118,612 66,517 152,075

Net cash used in investing activities (110,786) (110,035) (116,039)

Net cash (used in)/generated from financing activities

(7,164) 42,820 (34,294)

Financial Position

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RMB

Maintained stable dividend payout level

Dividend

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Capital Expenditure

RMB billion

E&P - RMB 51.5bn Expanded key production facilities and increased

reserve utilization Sichuan to East China Gas Project stably promoted Newly-built 5.7mm tonnes per year crude oil production

capacity and 1.2 bcm per year natural gas capacity.

Refining – RMB 15.5bn Upgrading refined oil product quality Revamping crude adaptability Construction of new storage facilities and

pipelines

Marketing – RMB 16.3bn Added 1,299 new service stations in key areas Accelerated the construction of storage

facilities and pipelines

Chemicals – RMB 25.2bm Fujian, Tianjin and Zhenhai ethylene projects

were completed Some chemical products upgrading and

expansion projects were completed

2009 Capex: RMB 110 billion

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Cost Saving

11

2009 Cost Saving: RMB 3.2 billion

RMB billion

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Corporate Governance Improved

Completed the rotation and succession of members to the Board of

Directors and the Board of Supervisors

Revised the Articles of Association and relevant procedures

Further updated the Internal Control Manual

Shaped unique management model of Sinopec Corp.

Crafted the Outline of Corporate Culture Development

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Scientific and technological innovation as accelerator of development Upstream ： key technologies for large scale gas fields in Northeast Sichuan

Refining ： the ultra-low pressure reforming technology won 1st class prize of national award

FCC gasoline S-Zorb adsorptive desulfurization technology and gasoline selective hydro-

desulfurization technology guaranteed product upgrading to GB III standard gasoline

Large scale of gas-phase polyethylene proprietary process package further improved the capability

of Chemicals Segment

Some new production technologies improved chemical product mix

Strengthen technology research on new energy and low carbon economy

Technological Innovation

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Health, Safety and Environment

Fully implemented the HSE management

system, supporting development of low

carbon emission economy

Rolled out full scale clean production

processes

Comprehensive energy intensity down to 0.72 tonne

of coal equivalent

COD in waste water declined by 3.6%

Sulfur dioxide discharge fell by 14%

Launched a campaign of I Safe to promote

safe production

14

Kg standard oil/tonne

Kg standard oil/tonne

2009 Operational Results

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2007 2008 2009 yoy%

Crude oil production (mm bbls) 291.7 296.8 301.2 1.5

Natural gas production (bcf) 282.6 293.1 299.0 2.0

Newly added proved reserves of crude oil (m

m bbls)20.7 114.0 280.2 145.7

Newly added proved reserves of natural gas

(bcf)3,756.7 921.6 78.4 (91.5)

Lifting cost (RMB/tonne) 601 630 643 2.0

31 Dec. 2007

31 Dec. 2008

31 Dec. 2009

yoy%

Proved reserves of crude oil (mm bbls) 3,024 2,841 2,820 (0.7)

Proved reserves of natural gas (bcf) 6,331 6,959 6,739 (3.2)

Proved reserves of oil and gas (mm boe) 4,079 4,001 3,943 (1.4)

E&P － Operational Summary

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E&P － Segment Performance

Realized prices of Crude Oil and Natural Gas

RMB million

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2007 2008 2009 yoy%

Refinery throughput (kbpd) 3,302.4 3,446.2 3,677.4 6.7

Gasoline production (mm tonnes) 26.55 29.65 34.43 16.1

Diesel production (mm tonnes) 63.41 69.74 68.86 (1.3)

Kerosene production (mm tonnes) 8.32 7.99 10.39 30.0

Light chemical feedstock production (mm tonnes)

24.00 23.12 26.87 16.2

Light yield (%) 74.48 74.75 75.54 79bps

Refining yield (%) 93.95 94.05 94.53 48bps

Refining － Operational Summary

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RMB million

Refining Margin/ Cash Operating Cost

Refining － Segment Performance

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2007 2008 2009yoy%

Domestic sales of refined oil products

(mm tonnes)119.39 122.98 124.02 0.8

Incl. Retail (mm tonnes) 76.62 84.10 78.90 (6.2)

Distribution (mm tonnes) 20.17 19.63 25.61 30.5

Wholesales (mm tonnes) 22.60 19.25 19.52 1.4

Total number of service stations 29,062 29,279 29,698 1.4

Incl. Company-operated 28,405 28,647 29,055 1.4

Franchised 657 632 643 1.7

Throughput of Company-operated

stations (tonnes/station)2,697 2,935 2,715 (7.5)

Marketing － Operational Summary

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RMB/tonne

RMB/tonne 2007 2008 2009

Marketing cash operating cost

139 153 164

RMB million

Maximum retail price ofRON 90# gasoline and 0# diesel

Marketing － Segment Performance

USD/bbl

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Non-Fuel Business Accelerated

22

Million RMB

Turnover of Non-Fuel BusinessUnit

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Unit: 1,000 tonnes 2007 2008 2009 yoy%

Ethylene 6,534 6,289 6,713 6.7

Synthetic resins 9,660 9,643 10,287 6.7

Monomers & polymers for synthetic fibers 8,018 7,264 7,798 7.4

Synthetic fibers 1,417 1,260 1,301 3.3

Synthetic rubbers 800 834 884 6.0

Urea 1,565 1,649 1,752 6.2

Chemicals － Operational Summary

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

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RMB million

Chemicals － Segment Performance

RMB/tonne

2010 Operational Plan

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Opportunities

China’s economy continued to grow healthily

Domestic demand for oil products and petrochemicals is

expected to increase steadily

The competitiveness of the Company has been enhanced

Challenges

Uncertainties of crude price

Newly-added capacity for refining and Chemicals

Strong competition in domestic oil product market

Prospect for 2010

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2009Actual

2010Estimates

change%

Crude oil production (mm bbls) 301.2 302.1 0.3

Natural gas production (bcf) 299.0 423.7 41.7

Refinery throughput (mm tonnes)* 182.6 203.0 11.2

Total domestic sales of refined oil products (mm tonnes)

124.0 129.0 4.0

Ethylene production (‘000 tonnes) * 6,713 8,690 29.5

2010 Operation Estimates

Note: *Including 100% production of JVs

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E&P Organize safe operation for Sichuan

to East China Gas Project Development of oilfields in Tahe,

Shengli, and gas fields in Puguang and Ordos

Refining Oil product spec upgrading projects Improve crude transportation and

storage facilities

Marketing Construction and acquisitions of serv

ice stations in key areas Improvement on marketing networks

Chemicals Progress in Zhenhai ethylene projects Accelerate construction of logistic

facilities for chemical products

RMB billion

2010 Capex Plan: RMB 112 billion

Capital Expenditure Plan

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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 Relations

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