29 April 2009

China Petroleum & Chemical CorporationQ1 2009 Results Announcement

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DisclaimerAs required by the CSRC, financial statements of the first quarter of Sinopec

Corp. (the “Company”) were prepared under PRC Accounting Rules and Regulations. 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 2009

China’s GDP grew by 6.1% in the first quarter

International crude oil price fluctuated at relatively low level

New oil product pricing mechanism improved refining business environment

Influenced by financial crisis, oil product and chemical demand declined compared with Q1 2008

Domestic demand for oil and petrochemical products increased month by month thanks to the government’s stimulus plans

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Financial Performance

RMB million Q1 2008 Q1 2009 Change %

Turnover, other revenues and other income

339,284 228,585 (32.6)

EBITDA 14,374 28,489 98.2

EBIT 3,031 16,494 444.2

Net profit attributable to shareholders of the company

6,062 11,219 85.1

EPS (RMB) 0.070 0.129 85.1

EBIT of Each SegmentRMB million

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Financial Position

RMB million 31 Dec 2008 31 Mar 2009

Short-term debts 74,896 56,311

Long-term debts 90,254 98,056

Equity attributable to shareholders of the company 328,669 340,154

RMB million Q1 2009

Net cash flow from operating activities 53,248

Net cash flow from investing activities (17,495)

Net cash flow from financing activities (31,449)

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

E&P—Operational Summary & Performance

Q1 2008 Q1 2009 Change %

Crude oil production (mm bbls) 73.36 73.81 0.6

Natural gas production (bcf) 72.63 69.98 (3.6)

Realized price of crude oil (RMB/tonne) 3,943.01 1,599.01 (59. 4)

Realized price of natural gas (RMB/thousand cubic meter)

916.79 961.53 4.9

Lift cost (RMB/tonne) 601.70 604.79 0.5

EBIT （ RMB million） 11,540 2,756 (76.1)

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Refining—Operational Summary

Q1 2008 Q1 2009 Change %

Refinery throughput (mm tonnes) 41.89 40.51 (3.3)

Gasoline production (mm tonnes) 6.93 7.99 15.3

Diesel production (mm tonnes) 16.61 15.15 (8.8)

Kerosene incl. jet fuel production (mm tonnes) 2.00 2.18 9.0

Light chemical feedstock production (mm tonnes) 6.29 5.76 (8.4)

Light stream yield(%) 74.45 74.98 53 bps

Refining yield(%) 93.81 93.69 (12) bps

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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 2008 Q1 2009 Change %

Domestic sales of refined oil products(mm tonnes) 30.18 26.43 (12.4)

Incl. Retail (mm tonnes) 20.28 17.37 (14.3)

Distribution (mm tonnes) 4.89 5.05 3.3

Wholesale (mm tonnes) 5.01 4.01 (20.0)

Total number of service stations (unit) 29,130 29,338 0.7

Incl. Company-operated 28,477 28,703 0.8

Franchised 653 635 (2.8)

Annualized average pump volume per station (tonnes) 2,848 2,420 (15.0)

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EBIT of Marketing Segment

RMB million

Marketing—Performance

Date of adjustment

RON 90# Gasoline(RMB/tonne)

0# Disel(RMB/tonne)

19 Dec 2008 6380 5770

15 Jan 2009 6240 5610

25 Mar 2009 6530 5790

Maximum Retail Price Adjustment

RMB/tonne Q1 2008 Q1 2009

Marketing cash operating cost 148.3 162.6

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Chemicals—Operational Summary

thousand tonnes Q1 2008 Q1 2009 Change %

Ethylene 1,695 1,488 (12.2)

Synthetic resins 2,482 2,400 (3.3)

Synthetic rubbers 226 198 (12.4)

Monomers & Polymers for synthetic fibers

1,994 1,723 (13.6)

Synthetic fibers 355 315 (11.3)

Urea 283 362 27.9

Note: Includes 100% production from BASF-YPC and Shanghai-Secco

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EBIT of Chemicals SegmentRMB million

Chemicals—Performance

Chemical Price Spread (2002-2009.4)USD/tonne

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Capital Expenditure

Total Capex in Q1 2009: RMB 15.28bnRMB billion E&P: RMB 7.78 billion. Sichuan-East

China Gas Project approached completion

Refining: RMB 1.57 billion. Mainly used in upgrading of refineries

Chemical: RMB4.64 billion. Mainly used for major ethylene projects

Marketing: RMB 0.99 billion. Construction of service stations and pipeline in key areas

Corporate and others: RMB 0.30 billion

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http://www.sinopec.com

For Further Information

Investor InquiriesBeijing: Tel: (8610) 59960028 Fax: (8610) 59960386

Email: 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

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