China Petroleum & Chemical Corporation Results for the Year Ended December 31, 2004

1. China Petroleum & Chemical CorporationResults for the Year Ended December 31, 2004 March 29, 2005 Hong Kong

2. Forward Looking Statement 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 proved 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.

3. Agenda • 2004 Performance Highlights and Achievements • 2004 Operating Results • 2005 Outlook

4. 2004 Performance Highlights and Achievements

5. Chemical Corporate & Others E & P Refining Marketing Significant Profit Growth EBIT Analysis RMB billion Total EBIT 63.07 Corporate & Others EBIT Growth Asset Disposal SeveranceCost Impairment Losses of Fixed Assets Total EBIT 38.88 Chemicals EBIT Growth Refining EBIT Growth Marketing EBIT Growth E&P EBIT Growth EBIT Growth in Business Segments Reduction in EBIT 2003 2004 EBIT Growth in business segments = EBIT of 2004 before deducting asset disposal, impairment losses of fixed assets and severance cost – EBIT of 2003. Note: Unless otherwise specified, all the financial data in the presentation are pro-forma data in accordance with IFRS.

6. ROCE % Solid Financial Performance 2004 2003 Change% Debt / Total Capital and EBITDA / Interest Coverage EBITDA Interest Coverage (X) Debt /Total Capital %

7. Stable Growth in Dividend Payout RMB billion RMB cents / Share

8. Further Internal Reforms • Further management restructuring and headcount reduction • Flattened managerial hierarchies and streamlined management structure • Improved efficiency through net headcount reduction of 11,000 in 2004 • Internal consolidation to create enterprise value • Redemption of Maolian Convertible Bond • Privatisation of Beijing Yanhua • Specialisation reform in marketing system • Established specialised product divisions including asphalt and catalyst companies following successful operation of acrylic fibre and lubricant companies

9. Restructuring and Optimizing Asset Structure • Focus on core business through investment allocation • Timely optimised and adjusted capex to strengthen refining and marketing business • Asset swap to optimise asset structure • Acquired chemical assets, catalyst assets and petrol stations from parent company; divested down hole operation assets • Disposal of under-performing assets • Disposed of and made provisions for impairment of RMB5.6 billion assets in 2004 to improve asset quality

10. Improved Corporate Governance • Articles of Association and other documents were amended to meet newly promulgated regulatory standards and mitigate operational risks • Internal control system was approved by the Board and became effective in 2005 after one-year trial period • Transparency continued to improve through fair, timely, and accurate disclosure • Euro-money: “Best Petrochemical Company in Asia” • Institutional Investors: “Best IR in oil and gas sector” and “Best IR in China (incl. Hong Kong)” in sell-side view

11. Committed to Social Responsibility and Contribution to a Harmonious Society • Committed to social responsibility • Implemented HSE system initiatives • Prepared to meet new specifications for gasoline and diesel quality • Sponsored educational programs and supported re-building in poverty and disaster-stricken areas • Promoted corporate image • F1 Sinopec Chinese Grand Prix • Partnership with Beijing 2008 Olympic Games • Set up long-term incentive mechanism to motivate employee’s energy, creativity, and loyalty to the company

12. Vision • Develop the Company in a practical and scientific approach • Proactively and steadily deepen reform to accelerate asset optimization • Generate long-term, sustainable growth for shareholders, employees, customers and society

13. 2004 Operating Results

14. 2004 Market Environment • Continued robust economic growth in China • Nominal domestic consumption of refined oil products increased by 19.0% • Nominal domestic consumption of three major synthetic materials increased by 11%, and ethylene-equivalent consumption grew by 5.8% • International crude oil price fluctuated at high level • Chemical business was in upward cycle

15. E&P —Growth in Production and Reserves 2003 2002 04/03 Change(%) 2004

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

17. Refining – Safe Operation at High Utilization Rate 2003 2002 04/03 Change(%) 2004

18. Refining — Segment Performance Refining Margin / Cash Operating Cost Refining Segment EBIT USD/bbl RMB million

19. Marketing — Expanded Sales Network, Retail and Distribution 2003 2002 04/03 Change(%) 2004

20. 2002 2003 2004 Marketing Cash Operating Cost 166 175 167 Marketing – Segment Performance RON 90# Gasoline Guidance Price Marketing Segment EBIT RMB/Tonne RMB million 0# Diesel Guidance Price RMB/Tonne RMB/Tonne

21. Chemicals — Full Capacity to Meet Market Demand 2003 2002 04/03 Change(%) 2004 Operation data for 2003 in the above table don’t include production from Maoming ethylene. Those for 2004 include production from Maoming ethylene, but don’t include chemical assets acquired from Sinopec group at the end of 2004.

22. Chemicals – Segment Performance Ethylene Cash Operating Costs Chemicals Segment EBIT RMB million USD/tonne Chemicals Price Spread (1990 ~ Feb.2005) USD/tonne

23. Cost Reduction (RMB million)

24. Optimized Investment Focus and Accelerated Asset Restructuring 2004 Capex: RMB64.75 bn Capex in the Past 4 Years • E&P – RMB21.234 bn to improve reserves profile, and increase proved reserve and production • Refining – RMB14.272 bn, newlyadded primary refining capacity of 8.3 MMt/y; further improved conversion capacity; Zhejiang-Shanghai-Nanjing crude oil pipeline put into operation • Chemicals – RMB11.025 bn,newly added ethylene capacity 270 Mt/y; revamping projects of some chemical facilities progressed smoothly • Marketing – RMB16.678 bn, construction of refined oil pipeline progressed smoothly; 2,075 gas stations added • Corporateand others – RMB1.55 bnfor information system, etc (RMB bn)

25. New Achievements in R&D and IT Application • New Achievements in core technology and proprietary technology • 639 domestic patents and 48 foreign patents were granted • Breakthrough in natural gas exploration in marine phase sedimentary structure in southern China • Successfully developed a number of E&P, refining and chemical technologies • Scope of IT applications continue to expand • Comprehensive E&P business management system and Ningbo-Shanghai-Nanjing pipeline information system successfully launched • Promote application of petrol IC card

26. Smooth Progress in JV Projects Major JV projects progressed smoothly • Successful commissioning of Ethylene projects with BP in Shanghai • Ethylene project with BASF is in test run stage • The coal gasification project with Shell in Hunan is expected to be completed at the end of 2005 • Fujian integrated petrochemical project was in preliminary engineering stage • Retail JVs with Shell and BP started operations

27. 2005 Outlook

28. 2005 Market Analysis • Global economy is expected to experience stable growth • Crude oil price is expected to fluctuate at high levels • Chemical business is still in the up-cycle • Chinese economy is expected to maintain rapid growth, leading to higher consumption of refined oil products and chemicals • Market competition will intensify with opening of retail market and reduction in chemical import tariffs

29. 2005 Production Plan 2004 05/04 Change(%) 2005 * Operation data for 2004 include production from chemical assets acquired from Sinopec Group at the end of 2004. Production plan for 2005 include production estimates for Shanghai Secco and BASF-YPC

30. 2005 Capex Plan 2005 Capex Plan: RMB 62.0 billion • E & P: expand high-quality resources; improve reserves profile and increase production • Refining: priority will be given to construction of crude pipeline along Yangzi River and 2nd phase of Ningbo-Shanghai-Nanjing pipeline; Accelerate upgrading and expansion of refineries along coastal areas and start construction of Qingdao Refinery • Chemical: focus on re-vamping and construction of large-scale ethylene, aromatic and PTA facilities • Marketing: further improve sales network; develop pipelines; optimize storage facilities layout; accelerate construction of southwest refined oil products pipeline and install petrol IC card instrument RMB billion Pave the way for commercial operation of Shanghai Secco and BASF-YPC and expedite the progress of Fujian refining-chemical integrated project

31. 2005 Cost Reduction Plan Total RMB 2.5 bn RMB million Additional 15,000 headcount reduction is expected this year.

32. Conclusion Seize opportunities to develop businesses in a practical and scientific approach • Priority will be given to safe operations to maintain sound operational momentum and strive for volume growth • Continue to deepen reforms • Continue structure adjustment, focus on asset quality, efficiency and returns Achieve sustainable and effective development

33. For Further Information http://www.sinopec.com Investor Inquiries Beijing: Tel: (8610) 64990060 Fax: (8610) 64990489 Email: ir@sinopec.com.cn Hong Kong: Tel: (852) 28242638Fax: (852) 28243669 Email: ir@sinopechk.com New York: Tel: (212) 759 5085 Fax: (212) 759 6882 Email: fangzq@sinopecusa.com Media Inquires Tel: (8610) 64990092 Fax: (8610) 64990093 Email: media@sinopec.com.cn