Sinopec Corp. Successfully Completes Placing of New H Shares

China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") (hkex:386)SNP +0.67% (ch:600028) is pleased to announce that, further to its announcement earlier this month, it has successfully completed its placing today of an aggregate of 2,845,234,000 new H Shares (the "Placing Shares") at a price of HKD8.45 per H Share. The Placing Shares represent approximately 3.2% of the number of total issued shares as enlarged after the placing, and approximately 14.5% of the number of H Shares as enlarged after the placing, of Sinopec Corp. The net proceeds from the placing are approximately HK$23,970,100,618. Sinopec Corp. intends to use such net proceeds for general corporate purposes.

The Placing Shares were offered in the United States only to qualified institutional buyers in reliance on an applicable exemption from registration under the U.S. Securities Act of 1933 (as amended) (the "Securities Act") and outside the United States in reliance on Regulation S under the Securities Act. During the 40 days immediately following the completion of the placing, no deposit of the Company's H Shares will be accepted into its ADR program.

This press release is for information purposes only and is not and does not constitute an offer to sell, solicitation of an offer to buy, or the sale of, any of the securities described herein in any jurisdiction. The securities offered have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.