China Petroleum & Chemical : Supplemental Notice of the Second Extraordinary General Meeting for the year 2020

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibilities for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 00386)

SUPPLEMENTAL NOTICE OF THE SECOND EXTRAORDINARY

GENERAL MEETING FOR THE YEAR 2020

REFERENCE IS MADE TO the notice of the second extraordinary general meeting for the year

2020 of China Petroleum & Chemical Corporation ("Sinopec Corp." or the "Company") dated 13 August 2020 (the "Original EGM Notice"). The second extraordinary general meeting ("Extraordinary General Meeting" or "EGM") of the Company for the year 2020 will be held at Crowne Plaza Beijing Chaoyang U-Town, No. 3 Sanfeng North Area, Chaoyang District, Beijing on Monday, 28 September 2020 at 9:00 a.m. Unless otherwise stated, capitalized terms used herein shall have the same meanings as defined in the Original EGM Notice.

SUPPLEMENTAL NOTICE IS HEREBY GIVEN that at the EGM, which will be held on the same date, at the same time and at the same venue as scheduled in the Original EGM Notice, will consider and, if thought fit, pass the following supplemental resolution as an ordinary resolution in addition to the resolution set out in the Original EGM Notice:

New Resolution to be considered and approved at the Extraordinary General Meeting

By way of non-cumulative voting:

2. The special interim dividend distribution plan for 2020.

Details of the above resolution are included in Appendix I to this supplemental notice of the EGM. The Board is of the view that the above resolution is in the interests of the Company and its shareholders as a whole. Accordingly, the Board recommends shareholders to vote for the resolution to be proposed at the EGM. The resolution and other matters set out in the Original EGM Notice remain unchanged.

By Order of the Board

China Petroleum & Chemical Corporation

Huang Wensheng

Vice President and Secretary to the Board

Beijing, PRC

31 August 2020

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Notes:

1. The resolution set out in the Original EGM Notice remains unchanged. For details of the resolution to be considered at the EGM, the closure of share register of members, eligibility for attending the EGM, registration procedures for attending the EGM, appointment of proxy and other relevant matters, please refer to the Original EGM Notice and the circular of the Company dated 13 August 2020, and/or this supplemental notice of the EGM dated 31 August 2020 relating to the new ordinary resolution published on the website of The Stock Exchange of Hong Kong Limited and the website of the Company.
2. Since the form of proxy for the EGM enclosed with the Original EGM Notice dated 13 August 2020 (the "First Form of Proxy") does not contain the additional resolution set out in this supplemental notice, a new form of proxy (the "Revised Form of Proxy") has been prepared and is enclosed with this supplemental notice.
3. The Revised Form of Proxy for use at the EGM is enclosed herewith and published on the website of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk). Whether or not you intend to attend the EGM, you are requested to complete the Revised Form of Proxy in accordance with the instructions printed thereon and return the same to the Company's business address or the Company's H share registrar, Hong Kong Registrars Limited (the address is 17M Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong) no later than 24 hours before the time for holding the EGM or any adjournment thereof (as the case maybe) (i.e. before 9:00 a.m. on 27 September 2020, Hong Kong time) (the "Deadline").
4. Important: If the shareholders of the Company have not yet lodged the First Form of Proxy with the Company or the Company's H share registrar, shareholders are requested to lodge only this Revised Form of Proxy. A shareholder who has lodged the First Form of Proxy with the Company or the Company's H share registrar should note that:
5. 1. the duly completed Revised Form of Proxy will be treated as the valid form of proxy lodged by such shareholder;
   2. if such shareholder fails to lodge the Revised Form of Proxy with the Company or the Company's H share registrar, the lodged First Form of Proxy, if duly completed, will remain effective and applicable to the extent permissible. For the additional resolution not set out in the First Form of Proxy, the proxy appointed under the First Form of Proxy shall have the right to vote at his/her discretion if no relevant instruction is received;
   3. any Revised Form of Proxy which is lodged with the Company or the Company's H share registrar after the Deadline shall be invalid. The First Form of Proxy previously lodged by such shareholder shall not be revoked. The First Form of Proxy, if duly completed, will be deemed effective and applicable to the extent permissible. For the additional resolution not set out in the First Form of Proxy, the proxy appointed under the First Form of Proxy shall have the right to vote at his/her discretion if no relevant instruction is received.

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1. Shareholders are reminded that completion and return of the Revised Form of Proxy will not preclude you from attending and voting in person at the EGM or any adjournment thereof.
2. The reply slip for use at the EGM sent together with the Original EGM Notice remains valid for the EGM if duly completed and returned in accordance with the instructions printed thereon.
3. Shareholders are reminded to refer to other notes contained in the Original EGM Notice.

As of the date of this notice, directors of the Company are: Zhang Yuzhuo*, Ma Yongsheng#, Yu Baocai*, Liu Hongbin#, Ling Yiqun#, Li Yong*, Tang Min+, Cai Hongbin+ and Ng, Kar Ling Johnny+.

• Executive Director

* Non-executive Director

• Independent Non-executive Director

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APPENDIX I

PARTICULARS IN RESPECT OF THE SPECIAL INTERIM DIVIDEND DISTRIBUTION

PLAN FOR 2020

Pursuant to the Articles of Association of Sinopec Corp., the amount of the half-yearly dividend distribution shall not exceed 50% of net profit for the half year period of the Company. In order to maintain continuity and steadiness of dividend distribution of the Company and considering the long-term development of the Company and overall interests of all shareholders, the board of directors of Sinopec Corp. (the "Board") has proposed the following to the EGM for consideration and approval: distribution of special interim dividend for the year 2020 of RMB0.07 per share (tax inclusive), which is calculated on the basis of the total share capital of the Company as of the record date for dividend distribution (i.e. 22 October 2020).

Subject to approval of the special interim dividend at the EGM, the special interim dividend shall be paid on or before 5 November 2020 to all shareholders whose names appear on the register of members of Sinopec Corp. on 22 October 2020. In order to be qualified for the special interim dividend, holders of H shares shall lodge their share certificates and transfer documents with Hong Kong Registrars Limited at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong before 4:30 p.m. on 15 October 2020 for registration. The register of members of H shares of Sinopec Corp. will be closed from 16 October 2020 to 22 October 2020 (both days inclusive). The dividend will be denominated and declared in RMB and distributed to domestic shareholders and Shanghai-Hong Kong Stock Connect shareholders in RMB and to foreign shareholders in Hong Kong Dollars. The exchange rate for dividend to be paid in Hong Kong dollars is based on the average benchmark exchange rate of RMB against Hong Kong Dollar as published by the People's Bank of China one week ahead of the date of declaration of the special interim dividend.

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