Current Report by Foreign Issuer (SEC Filing - 6-K)

2020 Sinopec Corp. Sustainability Report

Cleaner Energy, Better Life

March 2021

Report Information

The 2020 sustainability report (hereinafter referred to 'SR') is the 15th sustainability report of China Petroleum & Chemical Corporation (hereinafter referred to as 'Sinopec Corp.', 'the Company' or 'We'). The report introduces our sustainability philosophy and policies and our environmental protection, social responsibility and corporate governance (hereinafter referred to as 'ESG') performances in 2020, and highlights on how we responded to the expectations and concerns of stakeholders

Report Perimeters

This report covers our business activities from 1 January to 31 December, 2020, with some content from beyond this time span for continuity reasons. The information herein comes from internal data, materials from our subsidiaries, and relevant public information. Unless otherwise specified, all monetary figures shown in this SR are expressed in RMB (yuan).

Unless otherwise specified, the data in this SR covers the data of Sinopec Corp. and its wholly-owned and controlled subsidiaries.

The Company's Board of Directors reviewed and approved this report on March 26, 2021. The report is available in Chinese and English versions, and the Chinese version shall prevail in case of any conflict or inconsistency. The report can be downloaded at the website: http://www.sinopec.com/listco/en

References

This report is prepared in accordance with the Guideline on Environmental Information Disclosure issued by Listed Companies of Shanghai Stock Exchange (SSE), the Environmental, Social and Governance Reporting Guide issued by Hong Kong Stock Exchange (HKEx), Ten Principles of the United Nations Global Compact (UNGC), and the criteria of the Global Compact Advanced Communication on Progress, and with reference to the GRI Sustainability Reporting Standards (GRI Standards) issued by the GRI Global Sustainability Standards Board (GSSB). The Addressing Climate Change section is also prepared with reference to the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Disclaimer

This report includes certain forward-looking statements with respect to the results of our business operations and certain plans and conditions. All statements that address activities, events or developments that we expect will or may occur in the future, other than statements of historical fact, are forward-looking statements and by their nature involve risk and uncertainty. This means that actual results may differ materially from those indicated in the forward-looking statement due to a number of factors and uncertainties. The forward-looking statements are made by March 26, 2021 and the Company undertakes no obligation to update these forward-looking statements unless required by an appropriate regulatory authority.

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Contents

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Letter from Chairman

Dear Friends,

On behalf of the Board of Sinopec Corp., I would like to extend our heartfelt thanks for your continued attention and support!

2020 was truly an unprecedented year. While responding to the severe challenge of the Covid-19 pandemic, the world is also paying greater attention to the future of climate governance as green and sustainable development has increasingly become a broad consensus. The Chinese government took concrete actions to implement the United Nations 2030 Agenda for Sustainable Development, and proposed the ambitious goal to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. As a LEAD member of the United Nations Global Compact and an integrated energy and chemical enterprises, Sinopec Corp. is firmly committed to low-carbon, green, safe, responsible and sustainable development. We are committed to better integrating environmental, social and governance (ESG) considerations into our operations and development strategy. Over the past year, we coordinated pandemic control and business operations, and worked together with stakeholders to overcome difficulties. And we have achieved not only industry leading operating results, but also successfully fulfilled our responsibilities as a corporate citizen, making new progress in our focused key areas such as transformation and upgrading, energy conservation and emission reduction, technological innovation and safety management.

We are focusing on high-quality development through accelerated transformation and upgrading. We are vigorously promoting energy transition at multiple fronts: actively expanding the natural gas business, with a new record high proportion of natural gas in total oil and gas production, accelerating the development of new energy and renewable energy and actively exploring the hydrogen energy industry chain, accelerating the construction of world-class refining and chemical facilities and deepen the transformation of the refining business from 'oil to chemical', vigorously developing medical raw materials, degradable plastics and other high-end chemical products, promoting the upgrade of the refining and marketing industry chain and accelerating the development of an integrated energy service provider of 'oil, gas, hydrogen, electricity and nonfuel business'.

We are focusing on green and low-carbon development through continuous conserving energy and reducing carbon and other GHGs emissions. We have taken the lead to conduct researches on the strategic path of having carbon emissions peaking and achieve carbon neutrality to develop the relevant strategy, targets, roadmaps and implementation measures. We continued to implement the Green Enterprise Campaign and our pollution control and ozone pollution control measures have achieved positive results with lower amount of major pollutants discharged, lower volume of fresh water withdrawal for industrial use, and the shutdown and ecological restoration of facilities in the ecological protection zones. We have further implemented the Energy Efficiency Improvement Plan, and further improved the comprehensive energy efficiency. We have strengthened the research and application of carbon dioxide and methane recovering technologies. We also vigorously carried out research on the control of carbon footprint, and participated in the national carbon trading pilot programmes. In 2020, we were named as the 'China's Low Carbon Model' for the 10th consecutive year.

We are focusing on innovation-driven development with fruitful results of technological innovations. We have vigorously implemented the innovation-driven development strategy, pushed for reform of the technology management mechanism, and increased R&D spending to allow technological innovation to play a central role in driving our growth. We have promptly developed the production technology of melt-blown fabric and other medical supply materials, and achieved a number of new breakthroughs in key technological fields, such as ultra-deep oil and gas exploration and development, high-efficiency catalytic cracking, 48K large-tow carbon fibre, and automotive lightweight materials. We have also made breakthroughs in cutting-edge new energy technologies and successfully started the pilot production of high-quality hydrogen generation units for hydrogen fuel cell. In 2020, we were granted a total of 4,254 patents, ranking in the forefront among all large Chinese enterprises.

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We are focusing on safety development and laying a solid foundation for sustainable development. We have ensured the efficient operation of the HSSE management system to support our sustainable development. We have further implemented the three-year safety rectification programme, strengthened risk management and control in key links, strengthened contractor management and full-process management of subcontractors, implemented the accountability system, and organised inspections to prevent safety risks. We have further strengthened our emergency response capabilities and strictly follow pandemic control measures. Throughout the year, we have maintained overall safe and stable operations.

We are focusing on fulfilling social responsibilities as an outstanding corporate citizen. Faced with the severe situation of pandemic, we quickly adjusted the production capacities to produce medical materials in short supply, including building the world's largest melt-blown fabric production base from scratch in a short time. We ensured the supply of oil and gas and facilitate people's livelihood, and played a well-recognised leading role in working together with our industrial chain partners to resume operation and production, making significant contributions to winning the fight to control the pandemic. We focused on targeted poverty alleviation and promote long-term development to contribute to poverty alleviation. We have also continuously implemented public welfare programmes such as Open Days, the Sinopec Lifeline Express Programme. As the official partner of the Beijing 2022 Winter Olympics and Paralympics, we actively participate in building Olympic infrastructure, provide clean energy, and vigorously promote the spirit and culture of the Olympics.

The Company's current Board will be re-elected in May 2021. During the past three years, Sinopec Corp. vigorously implemented the new development concepts, and continuously improved quality, performance, governance and efficiency. As an active contributor to participating in global climate governance and building a beautiful China, our environmental protection efforts have achieved remarkable results, and our social responsibilities performance were well-recognised. The Board has approved Sinopec's world-leading development strategy. Looking forward, Sinopec Corp. will actively embrace global energy and industrial transformations and expedite formation of our development pattern of 'One Foundation of energy and resources, Two Wings of clean fuels and advanced chemicals, and Three Growth Engines in new energy, new materials and new economy', and vigorously implement development strategies of value creation, market orientation, innovation driven, green and clean, open cooperation and talent-cultivation to strive to build a world leading clean energy and chemical company. In the context of carbon emission peaking and carbon neutrality target, we will adhere to the integration of the carbon reduction process and business transformation and upgrading, and the coordination of structural optimisation with carbon emission control. After a thorough and systematic research, we have proposed our 'net zero' target as the ultimate goal to promote the clean transformation of fossil energy, the scale-up of clean energy, and low-carbon production and operation, so as to ensure that our carbon emissions peak before the national target, and strive to achieve carbon neutrality by 2050, making new contributions to addressing global climate change.

Practice enriches knowledge. More knowledge leads to better practice. In 2021, Sinopec Corp. will continue to improve its ESG governance structure and related policies, continuously improve the HSSE management system, so that green and clean will become the hallmark of our high-quality development. We will accelerate the development of new energy business with hydrogen energy as the core, to become the largest hydrogen energy company in China. We will continue to strengthen technological innovation to build a technology-leading company. We will also continue to leverage our advantages in industry layout, resources and technology to support rural revitalisation. We cherish your valuable suggestions for the company's sustainable development, and look forward to working together with you to become a world-leading clean energy and chemical company, building a better life and a better future for all!

Zhang Yuzhuo

Chairman

March 26, 2021

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Board's Statement on ESG Governance

The Company's Board of Directors made the following statement in accordance with the requirements of the 'Environmental, Social and Governance Reporting Guidelines' of the Stock Exchange of Hong Kong Limited (hereinafter referred to as the 'Hong Kong Stock Exchange').

The Board of the Company promises that the Company and its Board of Directors strive to follow the requirements of the Guidelines for the Governance of Listed Companies issued by the China Securities Regulatory Commission, and the Environmental, Social and Governance Reporting Guidelines issued by Hong Kong Stock Exchange, and continuously optimise its environmental, social and corporate governance mechanism. We will further strengthen the Board's role in supervising and participation on ESG related issues, and vigorously integrate ESG considerations into the Company's major decision-making processes and various business practices.

Board's Role in ESG Governance

The Board of Directors bears the ultimate responsibility for Sinopec Corp.'s ESG governance. The Social Responsibility Management Committee under the Board of Directors is responsible for overseeing the Company's commitments and performances on key ESG issues, coordinating with other committees and functional departments to incorporate ESG factors into internal control, risk management, strategic planning, renumeration and incentives, etc., and reporting ESG performances and major plans to the Board of Directors. The Social Responsibility Management Committee is composed of three directors, with Chairman of the Board serves as the chairperson of the committee. The Committee convenes at least once each year, and can hold ad hoc meetings when necessary. The Committee shall inform the board on ESG related issues in a timely manner.

ESG Management Policies and Strategy

The Company attaches great importance to the significant impact that ESG risks may have on the Company. Every year, the Company updates its ESG issue database based on ESG risk analysis, macro policies and trends, and feedback from stakeholders. Then the ESG issues are prioritised based on stakeholder survey and expert evaluation results, providing guidance to prioritise the focus of the Company's ESG governance efforts. The results of this year's materiality analysis have been submitted to the Board of Directors for approval.

Targets, Indicators and Review of Progresses

The Company has established an ESG target management mechanism, covering major ESG performance indicators such as GHGs emissions, resource consumption, pollutant discharge, safety management, and anti-corruption compliance management, etc. In addition to annual quantitative targets, there are also mid- and long-term management targets, all of which are regularly reviewed to check their process. To ensure the achievement of these targets, the Company signs annual performance commitment documents with management staff and subsidiaries to integrate the Company's key ESG performance, and take workplace safety, energy conservation and environmental protection, and operation compliance as the KPI for key management staff. To ensure the reliability of our ESG performance indicators, the Company hired PricewaterhouseCoopers Zhong Tian LLP to conduct an independent assurance of the Sinopec Corp. 2020 Sustainability Report, and issued independent assurance opinions regarding 14 ESG performance indicators of the Company.

China Petroleum & Chemical Corporation Board of Directors

March 26, 2021

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About Us

Recognitions and Awards

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Topic 1: Concerted Efforts to Fight Against the Covid-19 Pandemic

The Covid-19 pandemic that started in 2020 posed severe threat to people's lives and health, and brought severe challenges to economic and social development globally. As the largest energy and chemical company in China, Sinopec Corp. firmly fulfilled its two major responsibilities: protecting the health of its employees and contributing to the fight against the pandemic, and comprehensively coordinated pandemic prevention and control efforts and its production and business operations at multiple fronts, including ensuring stable oil and gas supplies, producing and supplying materials for medical supplies, petrochemical products, masks and agricultural produce, innovating on business models to bring people convenience, leading the efforts to resume production with industrial chain partners, strictly implementing pandemic control, and actively participating in pandemic control efforts in the frontline, etc. Meanwhile, we launched '100-day overcoming difficulties and creating efficiency' campaign and subsequent campaigns across our entire value chain of all business segments to mitigate the impact of the pandemic on the supply chain, minimise the impact of the pandemic on our production and operations, and contribute to the economic and social recovering from the impact of the pandemic.

Resuming Production and Switching Capacity to Support Pandemic Control

When the pandemic erupted, the domestic demand for medical supplies grew explosively and resulted significant shortage of medical supplies such as masks, protective suits, and disinfectants. To help solve this weak link in medical supplies and resource constraint, Sinopec Corp. took prompt actions to resume production. We leveraged our industrial, logistics and procurement capabilities to not only ensure the stable supply of energy and daily necessities, but also produce the urgently needed medical supplies and materials by expanding and adjusting our capacities, making positive contributions to the pandemic control efforts.

Ensuring Pandemic Control Supplies: 'We have melt-blown cloth. Who has mask machines?'

In response to the sudden supply shortage of melt-blown non-woven fabric, we promptly established the largest melt blown fabric production base from scratch, and posted messages such as 'We have melt-blown cloth. Who has mask machines?' to look for partners to make the melt-blown fabric we produced into masks.

Our actions had impact across the whole industrial chain: upstream, we maintained the stable production of the polypropylene materials, while midstream and downstream, we started producing melt-blown materials, cloth and masks to help stabilise the market price of melt-blown cloth and ensure the quality and quantity of masks. We swiftly invested and built 16 melt-blown cloth production lines in our Yanshan and Yizheng facilities with a total capacity of 9,600 tons of melt-blown cloth per year and two million masks per day.

As the largest supplier of materials for medical and healthcare products in China, we took no time to adjust our its production plan to give priority to the production of medical grade polyolefin materials for making masks, surgical gowns, protective suits, infusion bottles and syringes, and disinfection supplies. Besides ensuring the material supply for medical supplies, we also promised not to increase the prices of materials needed for making pandemic control supplies.

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Ensuring Stable Fuel Supply

Leveraging our extensive marketing network, we kept over 30,000 Sinopec service stations and 27,000 EasyJoy conveniences stores open for business to ensure the stable fuel supplies.

We also donated 16,500 litres of diesel fuel and 1,000 drums of construction machinery lubricants to support the construction of the hospitals for pandemic patients, and free refuelling service for the ambulances of these hospitals.

Ensuring the Supply of Daily Necessities

To better serve the spiked demand for purchases and deliveries of daily necessities due to the pandemic lockdowns, we vigorously promoted contact-free services such as the 'one-touch refuelling' to create a safe shopping environment, and provided convenient supplies of daily staples and pandemic control supplies such as masks and disinfectants. In addition, we also used our extensive logistic network to solve the serious problem of unsalable rural vegetables. As a temporary measure, over 7,000 EasyJoy conveniences stores in 126 cities started selling vegetables, helping both farmers sell their produce and local residents to get daily necessities.

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Protecting Employee Health with Strict Pandemic Control Measures

Since the outbreak of the pandemic, we closely followed the development of the pandemic and promptly activated relevant emergency plans to protect the safety and health of our employees, customers and the public. We closely monitored the health of employees, provided emergency supplies, and carried out joint prevention and control activities in accordance with government requirements. As of the end of 2020, there was no occurrence of clustering Covid-19 infection within the Company.

Responding to Supply Chain Challenges with Coordinated Efforts

The Covid-19 pandemic put tremendous pressure on both upstream and downstream of the supply chain. We strengthened the cooperation with suppliers and partners to deal with the challenges by initiating better information exchange and stronger industrial chain coordination, and accelerating the flow of products.

Connecting the 'missing links' to keep the industry running

Regarding the problems and weaknesses in the industrial chain triggered by the pandemic, we made great efforts to help solve the logistics and transportation challenges and the lack of liquidity, so as to help the industry quickly resume normal operation.

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Building a 'strong supply chain' together to promote stable economic growth

We proactively promoted industrial chain coordination, focusing on the EPEC e-commerce platform to deepen the cooperation with upstream and downstream partners, governments and other enterprises, forming a stronger, synergic industrial chain for promoting stable economic growth. When the pandemic caused severely disruption in export, we used the EPEC e-commerce platform to help the affected products find new market domestically. In addition, we established a dedicated Hubei Products section on EPEC and provide special bidding sessions for industrial projects in Hubei to support the economic recovering of the province. At present, there were 3,182 products of 21 Hubei enterprises offered on EPEC and marketed overseas, with a total sale of RMB 220 million.

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Since 1988, Sinopec Corp. has been actively involved in poverty alleviation undertakings. As of the end of 2020, all of our eight designated targeted poverty alleviation counties had been officially lifted out of poverty.

To eradicate poverty, we stuck to the 'targeted' principle and our promise of 'on one left behind', continued to provide targeted poverty alleviation assistance through industrial development, product marketing, job creation and education support in 2020.

In the future, we will further leverage our advantages, continue our support in capital and personnel, fully utilise local resource endowments, and work together with our stakeholders to support rural industries, promote rural revitalisation, and turn rural areas into a beautiful, liveable and happy homeland.

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1. Corporate Governance

Since its listings, Sinopec Corp. has established a sound corporate governance structure. The Company regularly optimises basic systems such as the General Meeting of Shareholders, the Board of Directors, and the Board of Supervisors, and actively manages information disclosure and investor relations to improve transparency. In addition to maintaining a high standard of business ethics, the Company strives to integrate risk management, operation compliance, anti-corruption, technological innovation, environmental protection, safety development, social responsibility and other concepts into its development strategy, business operations and corporate culture, and safeguard the legitimate rights and interests of investors, communities, customers, employees and other stakeholders.

1.1 Development Strategy

With a vision of 'to build a world-leading clean energy and chemical corporation', the Company vigorously implements its world-leading development strategy, expedite formation of our development pattern of 'One Foundation of energy and resources, Two Wings of clean fuels and advanced chemicals, and Three Growth Engines in new energy, new materials and new economy' and implement the six development strategies.

Development Strategies of Sinopec Corp.

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1.2 Board of Directors

1.2.1 Board of Directors

The Board is the decision-making body of Sinopec Corp. In 2020, the Company held eleven Board meetings attended by all directors with no absence. The Directors give full play to their professional skills and exercise their powers as Directors within the boundary of their authorisation, actively promoting the sustainable development of the Company.

Diversity of the Board

The Company has formulated the Board Diversity Policy, which stipulates that members of the Board shall be nominated and appointed based on the skills and experience required for the overall optimum operation of the Board, while taking into account the targets and requirements for diversity of the Board. When deciding the composition of the Board, Sinopec Corp. takes into consideration of several factors in relation to the diversity of the Board, including but not limited to profession experience, skills, knowledge, length of service, regions, cultural and educational backgrounds, gender and age.

The Company focuses on the implementation of the Board Diversity Policy. The Directors come from different industries at home and abroad, and have rich work experience. Professional backgrounds of Directors include petroleum and petrochemical, as well as economics, accounting and finance, which are conductive to scientific decision-making.

For detailed information of members of the Board, please refer to the Sinopec Corp. 2020 Annual Report.

Independence of the Board

The Company has established a complete and sound Independent non-executive director system. independent non-executive directors are selected strictly in accordance with the election procedures and terms of appointment stipulated in the Articles of Association from prominent personnel and industry experts both at home and abroad. The number of independent non-executive directors shall account for no less than one third of the total members of the Board.

Independent non-executive directors fulfil their duties in good faith as required by the Company's Terms of Reference of the Independent Non-Executive Directors. When expressing independent opinions on company affairs, independent nonexecutive directors pay particular attention to the following matters: major related transactions, annual profit distribution plans, appointment and dismissal of senior management personnel, and issues that may harm the interest of minority shareholders. In addition to exercising the general functions and powers of a director of the Company', the Articles of Association also grants some special powers to independent non-executive directors to ensure the effective protection of the legitimate rights and interests of shareholders, especially minority shareholders.

The Articles of Association and related policy documents can be found at:

http://www.sinopec.com/listco/about_sinopec/corporate_governance/

1.2.2 Board Committees

In order to effectively fulfil the functions of the board of directors and improve the quality of decision-making of the Board, the Company has established five committees, namely the Strategy Committee, the Audit Committee, the

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Nomination Committee, the Remuneration and Appraisal Committee, and the CSR Management committee. The members of the Board committees are directors of the Company.

Strategy Committee

Audit Committee

Nomination Committee

Remuneration and Appraisal Committee

CSR Management Committee

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1.3 Business Integrity and Operation Compliance

Sinopec Corp. adheres to the rule of law and the integrity culture of 'honouring agreements and operating compliance', and continues to improve its governance of business integrity and operation compliance. The Company focused on key areas, key links and key personnel, and implements a 'zero tolerance' policy towards corruption and violations of business ethics, striving to eliminate all forms of corruption.

1.3.1 Compliance Management

1.3.2 Tax Management

The Company has formulated and implemented the Sinopec Tax Risk Management Guidelines, requiring strict compliance with the taxation regulations of the place where it operates, rigorous accounting of taxes and charges, and timely tax filing. The Company also paid close attention to changes in the tax laws and regulations of the place where it operates, and regularly evaluated its tax risks to ensure tax payment compliance.

The Company disclosed its annual taxation payment information in annual report to ensure that its stakeholders could have timely access to this information. Following the relevant provisions of the British Disclosure Rules and Transparency Rules, the Company disclosed a Resource Country Government Payment Report on the London Stock Exchange website, and made relevant announcements on the Shanghai Stock Exchange and the Hong Kong Stock Exchange subsequently, listing the payments that the Company had made to different governments because of its business activities.

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In 2020, the Company had no incident of major tax-related litigation or arbitration.

1.3.3 Anti-Corruption Management System

The Company strictly abides by China's anti-corruption laws and regulations, the United Nations Convention against Corruption, the anti-corruption and anti-bribery laws applicable to the countries and regions where it operates, and the business integrity and anti-corruption regulations and commitments of its business partners'. The Company also advocates for an integrity culture, and strictly forbids its subsidiaries and employees, including labourers and temporary workers, to give or accept bribery, or involved in corruption, fraud or monopoly behaviours for any reason, in any form and any location. The Company also apply these requirements to its suppliers, contractors and service providers. When conducting business overseas, the Company strictly abides by the aforementioned principles and regulations of anti-corruption, anti-commercial bribery, anti-fraud, and anti-monopoly.

Anti-corruption Organisation System

The Company established the Sinopec Supervision Committee, with Chairman of the Board in charge, which is responsible for formulating anti-corruption and integrity guidelines and key measures, identifying compliance risks, convening regular committee meetings, researching and deploying key supervision tasks, and overseeing the timely rectification of problems found. The Company implemented a two-level supervisory committee system at the headquarters and the subsidiary levels respectively, ensuring full coverage of supervision, including directors, supervisors, senior management personnel, and all organisations and personnel that exercise management authorities. The Disciplinary Inspection and Supervision Department is responsible for the daily supervision and management of anti-corruption, reports to the Supervisory Committee and CSR Management Committee regularly, and conducts accountability assessment for the anti-corruption and integrity management at subsidiaries.

The Social Responsibility Management Committee of the 7th Board of Directors discussed and reviewed the Company's anti-corruption and compliance management and its performance in 2020 at the third meeting in March 2021.

Anti-corruption system

In 2020, the Company continued to strengthen its anti-corruption system, and optimised a 'Big Supervision' structure by integrating the comprehensive supervision by the party group/committee, the dedicated supervision by the Disciplinary Inspection and Supervision departments, and the functional supervision by each functional departments, providing a system guarantee for the Company's long-term and stable development by creating an integrity culture that 'no one dare, no one can, and no one want to' become corrupt.

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In addition, employees who are also CPC members also need to strictly abide by party regulations, such as the CPC Code of Integrity and CPC Self-Discipline, the CPC Regulations on Disciplinary Actions, and the CPC Accountability Regulations, and other regulations, and are put under relevant supervision accordingly.

Ensuring integrity with transparency

The Company regards transparency and openness as a key approach to prevent and fight corruption, and created a conducive supervision environment internally and externally by focusing on key areas and key links, improving information disclosure policies to expand both the breadth and the depth of information disclosure. In 2020, the Companies disclosed over 5.34 million pieces of information through its business information system.

Petition mechanism

The Company has established unimpeded petition and whistleblowing channels, including mail, phone and email. There are specific handling procedures to ensure all reported incidents shall be registered, verified and investigated properly and the whistle-blower shall be informed of the result. The identify information of the whistle-blower shall be keep confidential to protect his/her rights.

Anti-corruption and compliance of supply chain

The Company signs the Letter of Responsibility for Business Ethics with its contractors and suppliers, specifies that in case of corruption, they will be disqualified and their transactions with the Company will be discontinued, and they will be banned from any business cooperation with Sinopec Corp. for the next three years. Violators with severe cases will be blacklisted by the Company. This document has been strictly implemented, and there was no incident of supplier being disciplined due to violation of the Letter of Responsibility for Business Ethics in 2020.

Raise awareness of anti-corruption

The Company strives to build a culture of integrity, and carried out a series of anti-corruption education programmes that targeted for different categories and levels of employees to ensure the relevance and effectiveness of the programmes.

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1.4 Risk Management

Sound risk management is essential for the stable operation of enterprises. Sinopec Corp. attaches great importance to the risks it comes across in the process of sustainable development. The Company continuously improves its risk management system and strives to cultivate a solid risk management culture, so as to lay a solid foundation for the Company's sustainable development.

The Audit Committee, set up under the Board of Directors, is responsible for reviewing risk management and providing advices to the Board. Moreover, the Comprehensive Risk Management Working Group and relevant departments are established in charge of managing and mitigating risks related to production safety, environmental protection, response to climate change, finance, legal affairs, anti-corruption and overseas security. The Comprehensive Risk Management Working Group convenes meetings regularly to organise the identification and assessment of major and significant risks, determine control measures and formulate solutions. Subsidiaries and professional companies also followed the requirements of comprehensive risk management and established their respective Comprehensive Risk Management Leading Group to ensure the effective implementation of risk management.

Sinopec Corp. adopted the enterprise risk management framework provided by COSO, and established its risk management policy and risk management organisation system, such as the Comprehensive Risk Management Measures and the Risk Assessment Guidelines, and ensured their implementation. The Company annually conducts risk evaluation and incorporate risks identified into the online risk management system in accordance with the principles of 'layering, classification, and concentration' to clarity risk management responsibilities.

The Company regularly carries out internal control and risk management training to enhance overall risk management awareness of employees, and encourage them to improve their risk management skills. In 2020, a total 35,081 employees from 119 units participated in risk management related trainings.

In 2020, the Company had no major risk incident, and its effectiveness of internal control continued to improve.

1.5 Sustainability Management

Adhering to the development concepts of innovation, coordination, green, openness and sharing, Sinopec Corp. has integrated ESG into its development strategy. The Company continuously improves its ESG governance structure and related policies along its unwavering quest to achieve low-carbon, green, safe, responsible and sustainable development, working together with stakeholders to create sustainable development value.

1.5.1 ESG Governance

The Company actively integrates ESG considerations into its corporate governance system. By establishing and optimising ESG governance structures and mechanisms, the Company ensures that the relevant economic, social and environmental factors are fully considered in decision-making process at all levels, ensuring the proper management of its sustainability issues.

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1.5.2 Stakeholder Engagement

Aiming at better serving the people with the upmost sincerity, Sinopec Corp. maintain regular communication with investors, community representatives, customers, employees and other stakeholders to gain a more comprehensive understanding of relevant sustainability issues.

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1.5.3 Materiality Analysis

In 2020, we continued carrying out the identification, evaluation and screening of sustainability issues to focus on issues that are significant both to us and to our stakeholders, and focused our information disclosure in response in this report.

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1.5.4 SDGs Mapping Table

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1.6 Technological Innovation

Sinopec Corp. is committed to vigorously implementing an innovation-driven strategy, promoting comprehensive innovation centred around technological innovation, optimising institutional mechanism that conforms to the law of innovation, and striving to build a technology-leading enterprise.

1.6.1 Deepening Structural Reform

The Company continued to implement the reform of its technology management system, and optimised the long-term mechanism for the continuous growth of technological investment focusing on its key business segments. In 2020, the Company strove to improve its independent innovation capabilities and launched the Science Reform Demonstration Programme as a pilot programme to further deepen the reform of technology management system. The Sinopec Ningbo New Materials Institute officially has already started operating, and the construction of the Sinopec Guangdong New Materials Institute is underway as planned. Moreover, the Company also organised the second company-wide innovation and entrepreneurship competition, and strove to develop its own technology incubator by establishing innovation incubation platform companies in directly affiliated research institute, and exploring dividend and other incentive mechanisms for technology enterprises.

1.6.2 Strengthening Research on Key Technologies

In the past 30 years, the Company has already successfully completed the development and application of a total of 192 major complete sets of technologies across the value chain, providing a strong support for promoting industrial upgrading. In 2020, the Company continued to promote the 'Ten-Dragon' joint research model, and successfully completed 14 key research projects in the fields of oil and gas exploration and development technology, oil refining technology, chemical material technology, and public technology.

In 2020, the Company focused on giving greater support and incentives for basic research, developed and released the Sinopec Implementation Provisions for the Management of Basic Research Projects, and kicked off a number of research projects on cutting-edge technologies in fields such as molecular chemical engineering, optoelectronic materials, and artificial intelligence.

1.6.3 Enhancing External Cooperation

The Company took active measures to integrate into the global innovation network and enhance its own technological innovation capabilities through open cooperation. As of the end of 2020, the Company had joined the International Synthetic Rubber Association (IISRP), the Society of Petroleum Engineers (SPE) and other international academic organisations and relevant events. The Company has also set up overseas R&D centres to communicate and cooperate with local enterprises on research and technological support. Moreover, the Company further expanded the technical

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exchanges and cooperation with internationally renowned universities, research institutions and enterprises, supporting its technology-leading development through joint research programmes, joint training of research talents, and other forms of cooperation.

At present, information technology has penetrated into various fields of economy and social life, and the mode of promoting economic development has expanded from providing physical products and services to providing information products and services. Sinopec Corp. vigorously built new infrastructure such as data centres, Internet of Things, and industrial Internet. With the new model of 'data + platform + application', the Company vigorously accelerated the digital transformation of the industry and strove to comprehensively accelerate the digitalisation in the fields of operation

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management, production, and service management through nimble, efficient, stable and reliable information technology support and two digital services platforms.

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2. Addressing Climate Change

In September 2020, the Chinese government announced for the first time to strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. Sinopec Corp. is committed to building a world leading clean energy and chemical company. In the context of carbon peaking and carbon neutrality target, we will adhere to the integration of the carbon reduction process and business transformation and upgrading, and the coordination of structural optimisation with carbon emission control. After a thorough and systematic research, we have proposed our 'net zero' target as the ultimate goal to promote the clean transformation of fossil energy, the scale-up of clean energy, and low-carbon production and operation, so as to ensure to peak our carbon dioxide emissions before the national carbon peaking target, and strive to achieve carbon neutrality by 2050, making new contributions to addressing global climate change.

2.1 Management of Climate Actions

In this report, the Company disclosed its management policies, actions and progresses in addressing climate change in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Addressing climate change is an important factor for the Board and the Strategy Committee of the Company to take into consideration before making decisions on development strategies and major investments. To improve the effectiveness of addressing climate change, the Company has established a management system and organisational structure related to climate actions\ covering both the functional departments at the headquarters and its subsidiaries.

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The Company firmly abides by the new development concept, vigorously implements the green and low-carbon development strategy, promotes the clean transformation of fossil energy, the scale-up of clean energy, and low-carbon production and operation. Taking 'net zero' emission of carbon as the ultimate goal, the Company vigorously promoted energy conservation and emission reduction, and continuously enhanced its green and low-carbon competitiveness. In 2020, the Company carried out 'near-zero' emission pilots in Yanshan Petrochemical, Jinling Petrochemical, Jinan Refinery and Changling Refinery. In the future, Sinopec Corp. will formulate its carbon peaking and carbon neutral strategy, targets, road map, as well as detailed action plans, accelerate the technological innovation and industrialisation of advanced energy, such as hydrogen, and advanced decarbonising technologies, such as CCUS, and formulate low-carbon industry protocols and technical standards, and promote the low-carbon transformation of the industry.

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Opportunities

For Sinopec Corp., climate change means not only risks and challenges, but also opportunities for transformation and development. The Company will seize the development opportunities brought by climate change, vigorously expand the natural gas business, focus on the development of the hydrogen energy industry chain, promote the steady development of new energy businesses such as photovoltaic power generation and biomass fuel, accelerate the deployment of supporting facilities for new energy vehicles such as hydrogen refuelling stations and recharging stations, and actively explore new businesses and new products. The Company owns a number of CCUS technologies covering the entire industrial chain and has started the industrial application of these technologies, with the ambition to market relevant commercial services to industry customers after meeting its own carbon reduction targets in the future.

The Company has set the following greenhouse gas emissions reduction targets in the Green Enterprise Campaign:

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The Company proposed the ambitious goal to peak its carbon dioxide emissions before the national carbon peaking target, and to achieve carbon neutrality by 2050.

Note：In 2020, the Company's GHGs emissions increased by over 4 million tonnes of CO₂-equivalent due to the partial injection of Baling Petrochemical Assets Corporation into Sinopec Corp.

2.2 Energy Saving and Emission Reduction

The Company actively followed the change of domestic and abroad climate change policies, and regularly optimised its carbon emission management system to fit actual conditions, and formulated a number of management policies to strengthen the monitoring and management of greenhouse gas emissions, such as the Sinopec Carbon Emission Management Measures, the Sinopec Carbon Emission Trading Management Measures and the Sinopec Carbon Emission Information Disclosure Management Measures. The Company also adopted targeted emission reduction measures, and used CCUS, forestry carbon sinks and other carbon removal technologies to reduce carbon footprint and contribute to achieving the carbon neutrality target of China.

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Carbon Emission Monitoring and Management

In 2020, the Company continued to carry out carbon inventory audit and carbon verification in all production units and subsidiaries. The Company's total annual greenhouse gas emissions reached 170.94 million tonnes of carbon dioxide equivalent.

Carbon Capture, Utilisation and Storage (CCUS)

The Company attached great importance to CCUS technology, continued to optimise the economy, safety and energy consumption performance of CCUS technology in the implementation process, and actively integrated the upstream and downstream resources of the industrial chain to conducts large-scale and low energy consumption CCUS demonstration projects in oilfield and refinery subsidiaries.

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Methane Recovery and Emissions

The Company continued to improve the monitoring, verification and reporting system for methane emissions, incorporated methane emissions into the scope of carbon emissions with reference to the ISO14064 standards, and formulated methane emission control measures to promote methane emission reduction, recovering and utilisation in different business segment. In 2020, the Company's methane emissions reached 283.56 million cubic metres, flare burning volume reached 180.57 million cubic metres. A total of 600 million cubic metres of methane was recovered throughout the year, increased by 51.1% year-on-year, which is equivalent to reducing greenhouse gas emissions by about 9 million tonnes carbon dioxide equivalent.

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Carbon Trading

Sinopec Corp. actively participates in China's carbon emission market trading pilot programmes. The Company has coordinated the participation in pilot programmes and the national carbon trading management to accumulate market experience, and formulated appropriate trading plans and strategies in accordance with the requirements of the new national carbon market. As of the end of 2020, a total of 14 subsidiaries of the Company had participated in carbon trading pilot programmes. The participating enterprises formulated fulfilment plans and trading plans each year, and completed their fulfilment of annual carbon quota on time, actively using the quota deduction policy of the China Certified Emission Reduction (CCER) mechanism to reduce the cost of fulfilment.

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Greening and Carbon Sinks

The Company followed the government initiative on greening and integrated the greening initiative with the efforts to build a green and environmentally friendly enterprise and increase the vegetation coverage on campus. The Company also encouraged employees to participate in voluntary tree planting, so as to promote greater coverage of forest to utilise both the carbon sinks and the ecological improvement effect of forest.

Improving Energy Efficiency

With the goal of 'strictly controlling total energy consumption and improving energy efficiency', Sinopec Corp. vigorously implemented the Energy Efficiency Improvement Plan, continuously optimised its own energy use structure, and intensified the promotion of innovation and application of energy-saving technologies. In 2020, the Company implemented a total of 2,892 energy-saving projects, achieving a total energy saving of 4.58 million tons of standard coal.

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2.3 Energy Transition

The Company closely followed global energy development trends, and commissioned the Sinopec Economic and Technological Research Institute to conduct research on China's energy structure and prepare the China Energy and Chemical Industry Development Report each year. The report also made forecast on future energy needs based on China's carbon peaking and carbon neutral targets.

Guangzhou Petrochemical technicians conducted high-pressure testing of a hydrogen compressor.

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Note: Data from China Energy and Chemical Industry Development Report.

2.3.1 Natural Gas

Sinopec Corp. President Ma Yongsheng visiting the Puguang gas field of Sinopec Zhongyuan Oilfield Co.

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2.3.2 Hydrogen

Hydrogen is one of the key pathways to achieve a clean and low-carbon global energy structure. With rich industrial experience and competitive advantages of hydrogen business, Sinopec Corp. takes hydrogen as a main focus of its new energy business and leveraged its industrial, technological and network advantages to develop hydrogen energy through independent innovation, cooperative development and strategic investment. The Company has already developed an integrated and coordinated operation model of hydrogen business covering production, transportation, technology, and investment of hydrogen, forming a whole-process hydrogen energy industrial chain from production, purification, transportation and marketing.

Refuelling a hydrogen energy vehicle

In the next five years, Sinopec Corp. will accelerate the development of new energy business with hydrogen energy as the core. Focusing on hydrogen-powered transportation and green hydrogen refining, the Company will vigorously promote the rapid development of the whole industrial chain of hydrogen, intensify the cooperation with industry leaders in the fields of new energy and hydrogen manufacturing, plan to deploy 1,000 hydrogen refuelling stations or oil and hydrogen stations, striving to become the largest hydrogen company in China, as well as an industry leader in promoting the commercial application of hydrogen.

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2.3.2 Biomass Energy

The Company actively promoted the development of biofuels and strengthened the production, promotion and supply of biomass energy.

2.3.4 Developing Charging and Swapping Stations

The Company attached great importance to the development of new energy vehicles and vigorously developed supporting facilities for new energy vehicles such as charging stations and hydrogen refuelling stations, and promoted the steady development of the charging and swapping business. As of the end of 2020, the Company has built 281 charging and swapping stations and 984 charging piles nationwide.

Providing fast charging service to new energy taxis at Sinopec charging stations

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2.4 Optimising Energy Structure

As a mega-sized energy and chemical enterprise, Sinopec Corp. is not only a major energy producer but also a major energy consumer. The Company continued to promote transition to a clean and low-carbon development of energy structure, encouraged its subsidiaries to promote the consumption of new energy sources such as solar and wind energy based on their business segment, and gradually reduced the use of coal, accelerating the march towards the 'net zero emissions' target.

2.4.1 Promote New Energy Use

2.4.2 Reducing Coal Use

The Company strengthened process control and encouraged the application of energy-saving technologies to improve the efficiency of coal-fired boilers and meet requirements of the coal consumption standard for power generation. The Company also focused on energy efficiency improvement of coal-fired power plants. Plant-level supervision information systems (SIS) was deployed to optimise the production process monitoring, performance calculation, operation optimisation, load distribution, performance testing and system management, so as to achieve system energy saving.

In 2020, the Company's coal consumption for power generation decreased by 1.66 grams of standard coal/kWh year-on-year, and standard coal consumption for heating decreased by 0.30 kg/GJ.

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3. Environmental Protection

Building a harmonious relationship between man and nature and pursuing green development has become a broad consensus. Adhering to the concepts of green development and ecological civilisation, Sinopec Corp. is committed to promoting a green and low-carbon strategy and comprehensively optimising its environmental protection, including strengthening the environmental management system, implementing energy conservation and emission reduction, ensuring pollution prevention and control, improving energy and resource efficiency, strengthening land stewardship and protecting biodiversity. Considering the green and low-carbon development as the main characteristics of its high-quality development, Sinopec Corp will work together with its stakeholders to march on towards a low-carbon, green and sustainable future.

3.1 Environmental Management System

Sinopec Corp. continued to improve its environmental management system. The Company vigorously promoted green and sustainable development by comprehensively measuring the environmental performance of its business operations, evaluating resource consumption trends, assessing discharges and emissions data, and strengthening the supervision, control and incentives over its subsidiaries regarding their environmental performance.

The Company spent RBM 11.4 billion in environmental protection expenditures in 2020, an increase of 23.4% year-on-year.

3.1.1 Environmental Risk Management

The Company has integrated environmental risk management into its comprehensive risk management system, continued to improve the dynamic management of environmental risk and control mechanism, improved the quantitative management capabilities and real-time monitoring capabilities of environmental risks, identifies environmental risk factors from the source, and identified the impacts of different risks and the Company's exposure to them. The Company has also established an environmental risk management system and the relevant operating procedures, managing environmental risk sources by their category and tier, and strictly implemented supervision and inspection mechanism to identify environmental risks hazards for screening and rectification

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3.1.2 Environmental Protection Management System

The Company continuously implemented the HSSE (health, safety, security and environment) management system and optimised the policies and system documents related to environmental protection, which provided the necessary guarantees in terms of policies and guidelines, implementation, and evaluation and assessment, to ensure the smooth operation, auditing and continuous improvement of the environmental protection management system. The Company also urged its subsidiaries to make continuous improvement of their environmental management. As of the end of 2020, there were 46 subsidiaries of the Company had passed the ISO14000 environmental management system third-party certification.

Environmental Protection Policy System of Sinopec

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3.1.3 Environmental Impact Management

Focusing on its 'zero pollution' target, the Company made great efforts to regulate project construction and production operation, managed and mitigated the negative environmental impact of its business activities both upstream and downstream from a life-cycle perspective, so as to achieves reasonable development while protecting the ecological environment.

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3.2 The Green Enterprise Campaign

Sinopec Corp. launched the Green Enterprise Campaign in 2018. With a vision of 'contributing to clean energy and practicing green development', the Green Enterprise Campaign calls for the comprehensive implementation of the green and low-carbon development strategy from six aspects: green development, green energy, green production, green service, green technology, and green culture. The Company has established the green action targets for 2023, formulated the Sinopec Green Enterprise Evaluation Guideline, established the Sinopec Green Enterprise Campaign Working Group to comprehensively promoted the development of green enterprises.

The Company issues Energy and Environmental Responsibility Commitment to its subsidiaries every year, specifying the emission reduction targets and governance tasks for them. The performances of the subsidiaries are included as part of their annual performance evaluation, so as to ensure that they reach their various targets as planned, including KPI on clean energy, resource and energy utilisation, pollutants, and greenhouse gas emissions, etc. In 2020, 39 subsidiaries of the Company were nominated to be awarded the title of 'Sinopec Green Enterprise'. In addition, another 37 subsidiaries were reviewed to maintain the title, totally accounting for 66% of the Green Enterprise Campaign target.

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East China Petroleum Bureau adopted green production management measures during the drilling process to ensure environmental protection

Sinopec Corp. is committed to reducing the impact on the environment in the overall value chain. The Company focuses on developing and providing clean, green, and high-quality energy and chemical products, continues to improve product quality, and strives to meet the highest standards of emissions and certification.

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Note: Low-sulphur maritime fuel oil (LSFO) is mainly used by large ships at sea. Compared with traditional maritime fuel oil, LSFO reduces the sulphur content from 3.5% to 0.5% and has significantly less amount of sulphur dioxide emission.

Independently developed biodegradable polyester bag

3.3 Atmospheric Pollutants Control

The Company strictly abides by laws, policies and standards related to air pollution prevention and control, implements integrated management of energy conservation and environmental protection, comprehensively monitors its emission of atmospheric pollutants to improve the comprehensive control of air pollution, and makes timely rectification to issues identified to its emission of atmospheric pollutants meets the requirement of applicable standards.

Atmospheric Pollutants Control Measures

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VOCs treatment project for the Baling Petrochemical's newly built cyclohexanone plant

3.4 Solid Waste Management

Adhering to the principle of 'reduce, resource and harmless' for solid waste disposal, the Company actively promoted the concept of circular economy, and vigorously promoted the comprehensive utilisation of solid waste. The Company strengthened the whole-process management of solid waste, requiring the 100% disposal rate for hazardous waste to be

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disposed properly, and included solid waste management into its energy and environmental responsibility evaluation. All solid waste of the Company were properly utilised or harmlessly disposed of.

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3.5 Water Resource Management

The Company attaches great importance to water resources management. It has formulated the Sinopec Industrial Water Conservation Management Measures, and make the commitment in the Green Enterprise Campaign to 'reducing the fresh water withdrawal for industrial use by no less than 1% each year'. The Company actively implemented water-saving and alternative measures to minimise water loss and waste, applied advanced processes and IT solutions to improve water use efficiency, and vigorously promoted the utilisation of waste water to achieve efficient and rational use of water resources.

In 2020, at the '2020 Leading Action for Water Efficiency Leaders in Key Water-using Enterprises' organised by the Ministry of Industry and Information Technology, Ministry of Water Resources, Development and Reform Commission, and State Administration of Market Supervision, Zhenhai Refining & Chemical Co. was named as 'Water Efficiency Leading Enterprise in Refining Industry', and Zhenhai Refining & Chemical Co. and Yanshan Petrochemical were name as 'Water Efficiency Leading Enterprise in Ethylene Industry'.

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Water Conservation Measures

The Company strengthened the prevention and control of water pollution risks, and conducted comprehensive inspection of its discharge of water pollutants in accordance with the requirements of the national pollution prevention and control campaign as well as relevant standards. Problems identified were rectifies in a timely manner to ensure compliance.

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3.6 Land Resource Management

Sinopec Corp. strengthened the management of land resources in accordance with the principle of 'intensive, efficient and green land use', required all subsidiaries to minimise the use of arable lands, and implemented closed-loop management over the life cycle of land. To promote the sustainable use of land resources, Sinopec subsidiaries formulated detailed land management measures, and conducted swift reclamation and soil restoration after land use strictly in accordance with relevant state regulations.

Excavation operation for land reclamation on the Cangxi 3-9 platform of the East China Petroleum Bureau Taizhou Oil Production Plant

3.7 Preventing Leak and Spill of Hydrocarbons

The Company formulated the Sinopec Pollution Prevention and Control Management Measures to strictly control various pollutants including hydrocarbons, and made great efforts, including regular inspections and rectifications of

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devices, storage and transportation equipment upstream and downstream of the industrial chain, to prevent the risk of hydrocarbons leaks or spills.

3.8 Biodiversity Protection

In compliance with the Environmental Protection Law of China and the United Nations Convention on Biodiversity, Sinopec Corp. continued to improve the management system and policies for biodiversity protection, strengthened the ecological protection management system, and urged all subsidiaries to proactively identify ecologically sensitive sites and avoid areas protected by the ecological red line. The Company has established a sound ecological protection and restoration supervision mechanism. In 2020, there was no major harmful incident to biodiversity occurred concerning Sinopec Corp.

The Company has included specific requirements on biodiversity in the feasibility study and environmental impact assessment for major investment projects. Biodiversity assessment was required before entering any new production area to fully investigates the regional ecological environment. Regular inspections were carried out to identify potential risks related to the ecological red line and mitigate or eliminate the impact. The Company also conducted surveys on the types and quantities of animals and plants in oil and gas fields, conducted dynamic tracking and monitoring of the corresponding pollutants and chlorophyll content in soil, water and sediments, and studied the effects of its environmental protection measures in the oil field based on monitoring results. In 2020, there were 31 ecological monitoring points deployed, and 4,186 sets of monitoring data were collected at these monitoring points.

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Migrating birds return to the Dagang Wetland next to Tianjin Petrochemical every March

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4. Safety Management

Solid safety management is of great significance to the petrochemical industry as the operation of the industry involves multiple safety risks. Sinopec Corp. strictly implemented the HSSE management system to comprehensively manage health, safety, security and environment issues. Taking safety as a red line, the Company strengthened safety awareness of all employees and fulfilled its primary safety responsibility to prevent the occurrence of safety accidents and ensure safe operations, providing the safety guarantee for the Company's sustainable development.

4.1 Safety Management System

Sinopec Corp. regards safety as a top priority. The Company strictly abides by the Safety Production Law, strictly implements the HSSE management system and makes regular updates and improvements, vigorously carries out risk identification and assessment, and continuously reinforces its safety risk management and emergency management systems.

4.1.1 HSSE Management System

In 2020, the Company formulated and implemented measures of the HSSE system, which clarified the responsibilities of each department and established audit standards and quantitative evaluation criteria. Key indicators were monitored and analysed to ensure the effective operation of the system regularly. All subsidiaries actively carried out internal audits of the system, and the results were incorporated into their safety performance appraisal to ensure the implementation of safety responsibilities.

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4.1.2 Identification and Management of Safety Risks

In accordance to the requirements of the Sinopec Management Measures on the Dual Preventive Mechanisms of Production Safety and Safety Hazard Identification and Rectification, the Company took a 'bottom-up' approach to identify safety risks at four different levels, from grassroots units at the bottom, to secondary units, subsidiaries, and the Company at the top. Each level was required to produce a risk list of their own. The Company carries out a comprehensive identification and assessment of safety risks once a year, and the major safety risks will be singled out for intensified monitoring and management. Meanwhile, the Company focused on developing information system for safety risk management, and developing and launching the unified management platform for risk assessment to improve professional and accurate results.

The risk identification process of the Company mainly focuses on the operation of the HSSE management system, risk management and control and hazard identification and rectification, contractor and direct operation management, special safety inspection and supervision, emergency management, employee health, and security.

4.2 Workplace Safety

The Company strictly abides by the safety red line in workplace. By specifying the relevant safety responsibilities, the Company has established a well-structured, well-defined tiered management responsibility system, under which the general manager taking full responsibility, the vice general managers taking responsibility of the business segment under charge, business unit directors taking the main managing role, and the safety department providing supervision.

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Safety management personnel screening for hazards at the Shunbei 5 site

4.3 Contractor Safety

Regarding the safety management regarding contractors, the Company mainly focused on requiring contractors to improve safety skills, enhance safety awareness, and strengthen subcontracting management, so as to encourage contractors to improve safety management and prevent safety accidents.

In 2020, the Company formulated the contractor safety management implementation measures, which specified the safety responsibilities for each party and focused on urging contractors to raise their risk awareness. The Company analysed the causes of contractor accidents, carried out special rectification of construction safety, and intensified the management of key control points such as project contracting and construction planning. The Company also carried out special inspections and remote video inspections of operations of its own and by contractors to ensure accountability, and carried out special rectification programmes focusing on restricted space operations and high-altitude operations to ensure the implementation of the management measures. Contractors with safety violations will be disciplined with measures such as financial penalties, partial stoppage and rectification, warnings, etc. In 2020, twelve contractors who violated the safety management system were disciplined, which was a 25% decline from the previous year.

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Zhongyuan Oilfield uses models to carry out landscaping operation safety trainings for workers of a contractor of its natural gas project

4.4 Logistics Safety

The Company has formulated the safety management system for hazardous chemicals transportation carriers, required carriers to implement HSSE management, and carried out on-site inspections and carrier inspection to urge carriers to improve safety management. Moreover, the Company continued to study the supply model of hazardous chemicals and worked with carriers and partners to ensure the logistics safety across the whole process.

In 2020, the Company enhanced the HSSE management and eligibility management of logistics service providers, encouraging them to develop a sound management system covering quality, safety and environmental protection requirements. The Company also explored the development and application of information system for hazardous chemicals transportation safety management, and implemented other measures such as emergency watch and monitoring and early warning. In 2020, the Company had no reported accident involving the transportation of hazardous chemicals.

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Safety personnel inspecting a tanker vehicle to for leakage hazards of at Feixi Oil Depot

Customized side-loading container truck ensures reliable transportation of lithium battery separator materials

4.5 Information Security

Sinopec Corp. has formulated a network security strategy and established a sound network security notification and emergency response mechanism. The Company strengthened the security management of critical information infrastructure and regularly examined its Internet applications to protect the security of its information infrastructure and data. In 2020, there was no significant incident of major network security incident occurred at the Company.

4.6 Security

The Company formulated and implemented the Sinopec Overseas Security Management Measures, and regularly optimised its security management and pandemic prevention and control systems focusing on risk assessment and control, risk prevention and protection, emergency response and rescue, and inspection and supervision. The Company strengthened its medical support and emergency response capabilities, and implemented professional management of pandemic prevention and control and safety emergency response operations overseas. In 2020, the Company focused on pandemic prevention and control and achieved remarkable results, maintaining its overseas security record of 'zero death' for 13 consecutive years.

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5. Respecting Human Rights

Sinopec Corp. has integrated its respect and protection of human rights throughout the whole process of human resource management. The Company is committed to protecting the legitimate rights and interests of employees, and providing employees with sound workplace health management, complete training and career development mechanisms, and considerate employee caring measures. By providing employees with enabling platforms, opportunities and care, we strive to grow together with our employees to create a better future.

5.1 Respecting and Protecting Human Rights

Sinopec Corp. strictly complies with laws and regulations on human rights protection, the National Human Rights Action Plan of China and international human rights conventions, and prohibits any act of disregard or abuse of human rights. We strictly abide by China's Regulation on Prohibiting the Use of Child Labour and relevant laws and regulations in overseas markets where we operate to prohibit the use of child labour. We respect the employees' right of personal freedom and the right to take leave, and prohibit the use of forced labour. We respect the rights and interests of female employees and ethnic minority employees, and strictly prohibit any form of discrimination, such as due to gender, ethnicity, religion and nationality. Meanwhile, we abide by the requirements of laws and regulations such as the Labour Law of China and the relevant regulations in where we operate, fully protect employee rights, strictly ensure occupational health and safety, optimise employee career development mechanisms, and comprehensively manage the occupational, physical and mental health of employees, striving to grow together with our employees.

Sinopec Corp. strictly abides by laws, such as the Labour Law of China, the Labour Contract Law of China, and the Trade Union Law of China, refers to the international conventions such as the International Covenant on Economic, Social and Cultural Rights, the Convention on the Elimination of Employment and Occupational Discrimination and the National Human Rights Action Plan, and follows the principles of equal consultation and mutual benefit, to build harmonious and stable labour relationship with employees.

5.1.1 Protecting Labour Rights

Sinopec Corp. strictly abides by the laws and regulations of China and the overseas markets where it operates regarding the prohibition of child labour and forced labour, and explicitly prohibits the use of child labour and forced labour. In 2020, the Company had no incident of child labour and forced labour.

Regarding recruitment and hiring, the Company signs written labour contracts with employees, which stipulates the conditions, remuneration, working hours, vacation and other rights. The Company has formulated labour contract management policies to regulate the signing, execution, change, cancelation and termination of labour contracts with employees in accordance with the law, to protect the labour contracts and employees' rights and interests. The Company continuously attaches importance to improving working environment, and prohibits any form of compulsory labour, such as by taking workers' ID or money as security, or putting workers under surveillance and threats.

5.1.2 Diversity and Equal Opportunities

Sinopec Corp. supports employee diversity and equal opportunities, and actively recruits female employees, foreign employees and ethnic minority employees with equal employment opportunities. The Company prohibits any form of discrimination and strives to create a welcoming and diversified workplace that allows employees to fully express their personalities and realise their values.

The Company strives to protect the legitimate rights and interests of female employees, adheres to the principle of gender equality, and ensures that female employees enjoy equal labour rights and social security benefits. It also strictly implements the policies regarding female employees' pregnancy and maternity leaves, nursing breaks, and regular physical examinations. The Company actively encourage female employees to participate in the management of the

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enterprise and advance to management positions. As of the end of 2020, the Company had a total of 384,065 employees, among which 33.1% were female, and 3.8% were ethnic minorities. All employees were registered as members of the Labour Union.

5.1.3 Salary and Benefits

Sinopec Corp. attaches great importance to employee salary and benefits. The Company has optimised the remuneration system following a dual incentive system of both salary and non-salary incentives, and established a multi-dimensional motivated system based on position, capability and performance, which consists of basic salary, performance bonus, and mid- and long-term incentives. The Company provides employees with proper social insurance with a multi-pillar and multi-layer insurance and support system including both social security insurance and corporate pensions. The Company ensures the employees' right to maintain regular working hours and take proper leaves and vacations, and provides employees with regular physical examinations, paid vacations and rehabilitation to help employees maintain work-life balance.

5.1.4 Employee Communication and Participation

Sinopec Corp. has established a sound employee communication and participation mechanism, with the employee representative conference playing an important role, to encourage employee participation, such as making suggestions, and promote the harmonious enterprise-employee relationship. In 2020, our employ representatives made more than 8,200 proposals on workplace safety, environmental protection, corporate management, production and operation, salary and benefits, and employee training, etc. To ensure full compliance and transparency, the Company has also established a transparent information disclosure mechanism regarding issues that the employees were concerned about, such as performance and promotion appraisals, disclosing information and gathering employee feedbacks. In 2020, the Company launched the 'Internet + Supervision' platform to listen to employee opinions and suggestions more extensively. All suggestions and complaints were sorted by designated personnel and forwarded to relevant departments and subsidiaries for timely verification and rectification.

Employees celebrating Chinese Lantern festival

5.2 Employee Health

Sinopec Corp. takes employee health and safety as a top priority. Following the guideline of the Healthy China 2030 Plan and abiding by the Safety Production Law of China and the Occupational Diseases Prevention and Control Law of China, the Company focused on strengthening its HSSE Management System and strictly implemented its Employee Health Management Policies. The Company advocated for the comprehensive management of employee health, and actively promoted the integrated management of occupational health, physical health, and mental health of employees based on the prevention and treatment of occupational diseases.

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5.2.1 Identification and Control of Occupational Hazards

Sinopec Corp. takes a comprehensive approach to identify and control occupational hazards. The Company focuses on the control of occupational disease hazards and systematically assesses the relevant health risks to identify workplace and personnel at higher risks, then adopts targeted control measures accordingly to protect employee health.

The Company provided health education and training for all employees to raise their awareness of occupational disease prevention, workplace safety protection, healthy lifestyle, disease prevention, and mental health, and encouraged them to better manage their health. In 2020, the Company organised a series of expert lectures on the latest national occupational health standards, occupational health monitoring, noise hazard risk management and control, workplace safety protection equipment, etc. More than 3,000 technical management personnel at all levels participated in a total of eight of such training sessions.

The Company actively studies the identification of industrial hazard factors, and cooperated with the National Health Commission on the compilation of the Occupational Disease Hazard Factors Protection Manual for the Petrochemical Industry, including organising seminars for pilot application, updating content, and implementing pilot programmes.

Employees receiving CPR training

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Providing health examination for employees

5.3. Employee Training and Development

Sinopec Corp. adheres to the talent-driven growth strategy. Aiming at 'cultivating a talent team that supports the new industrial structure', the Company has deepened the reform of its talent development system and mechanism, focused on improving employee capabilities, and optimised the career path designs for employees to grow together with our employees.

The Company carried out a variety of training activities for different employees which supplied a central platform to help employees improve professional skills.

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Orientation for newly recruited graduates at the Innovation and Efficiency Base

The Company also took advantage of its online training capabilities and developed a variety of quality online training resources for employees through online learning, on-the-job training, community learning and other methods. In 2020, the total participation of employee training of the Company reached 1,259,800 person-times, totalling 27,721,300 hours.

5.4 Caring for Employees

Sinopec Corp. cares for each of its employees, and strives to forge an enabling 'caring family' for all employees by building a warm, caring, and encouraging workplace and foster sense of belonging and cohesion. In 2020, with the vision of 'Healthy Sinopec, Healthy Mentality', the Company implemented the Opinions on Further Promoting the Application of Employee Assistance Programme (EAP), and formally established the Sinopec Mental Health (EAP) Working Committee, to better protect the mental health of employees.

In 2020, the Company organised three EAP trainings for 176 safety management and overseas personnel to enhance the management of safety and overseas operations. We also carried out a group-wide survey on our internal employee aid programme. The survey shows that we have provided aid to 113,341 employees, totalling RMB 187 million (including in-kind donations).

The Company advocates the concept of 'working happily and living healthily' and regularly organises a rich variety of cultural and sports activities to promote the physical and mental health of employees.

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Employee volunteers visited the parents of a colleague that could not return home for Chinese New Year celebration

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6. Contributing to Society

Sinopec Corp. strives to take root in the communities where it operates. Adhering to the concept of 'paying back to the local communities and contributing to local economy', the Company actively promotes localised and market-oriented operations, strives to create job opportunities, promote local economic development, and contribute to poverty alleviation and public welfare undertakings, aiming at growing together with communities to achieve coordinated economic, environmental, and social development.

6.1 Responsible Value Chain

Sinopec Corp. attaches great importance to supply chain management and strives to integrate sustainability concepts into the supply chain management process. The Company has formulated the Sinopec Green Material Procurement Management Measures aiming at establishing a long-term green procurement management mechanism that is 'green, low-carbon, circular, and efficient'. During the material procurement process, we give priorities to raw materials, products and services that are conducive to resource conservation and have the least impact on the environment by taking full consideration of related factors, including environmental protection, resource conservation, safety and health, circular and low-carbon, and recycle and reuse. The Company is committed to building a green supply chain spanning from design selection, procurement and fulfilment, warehousing and logistics, to decommission and disposal, taking the initiative to fulfilling our social responsibilities to protect the environment, conserve energy and reduce emissions together with our upstream and downstream subsidiaries.

6.1.1 Supplier Management

The Company has integrated environmental protection, resource conservation, safety management, and sustainability management into its assessment and qualification process for suppliers by specifically adding pollution discharge permits, energy management system certifications, green product, and low-carbon product certifications to the list of qualification requirements for suppliers, as well as no occurrence of major safety incident in the last years as a red line requirement.

The Company regularly conducts on-site inspections of suppliers, covering the supplier's ISO14000, ISO18000 system certifications, workplace safety emergency management system, labour protection measures, discharge and emissions, and waste treatment. Health, safety and environmental management factors have been given greater weight in on-site inspection criteria.

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The Company attaches great importance to supplier compliance management and requires all suppliers to sign a Business Integrity Commitment document. Violator of the commitment will be disciplined by cancellation of the transaction involved and a three-year suspension of its supplier eligibility.

The Company has established a supplier assessment and evaluation mechanism and developed sound disciplinary measures regarding the fulfilment of supplier contracts, such as alert, warning interview, suspension under risk, and handling of breach of contract. Suppliers with suspicious bidding behaviours such as bid rigging and collusion will be given a risk warning, as well as suppliers of major engineering projects with quality or on-time delivery risks. In 2020, the Company issued 'Reminder Letter' to 143 suppliers and applied disciplinary actions to 41 suppliers that had breached the contract.

6.1.2 Contractor Management

The Company has developed the Sinopec Construction Project Bidding Criteria Document to integrate its HSSE management requirements and the Sinopec Safety Supervision and Management Measures for Contractors into criteria for engineering and construction contractors. All eligible bidders must have the necessary occupational health and safety, environmental and quality management systems to meet the criteria. The Company also increased the weight of HSSE evaluation results in the technical section of bidding document to 25%.

6.2 Community Engagement and Development

Adhering to the concept of 'serving communities and contributing to the prosperity of local economy' where it operates, Sinopec Corp. strives to protect the environment, promote industrialisation and urbanisation through job creation, project investment, tax payment, and contribute to the coordinated economic, environmental and social development to achieve win-win development of both the Company and the communities where it operates.

When conducting business overseas, we strive to be a responsible corporate citizen, respect and protect human rights, adhere to safe and compliant operations, support localised hiring and procurement, and actively manage the environmental impact of our operations. We help ensure energy supply, protect the environment, and support public welfare undertakings, establish good neighbourly relationship with both local governments and communities, and work together with them to form a partnership for promoting the comprehensive development of the local communities.

We actively promoted the 'Cultural Integration Programme', respecting local customs and cultural heritage, and we organised a variety of communication, cultural, sports and other team building activities to promote cross-cultural integration among employees.

In 2020, the Company organised online 'Open Day' events in China, with a record number of visitors, and 'Community Open Day' events in Saudi Arabia and Russia. The employee localisation rates in our joint-ventures in

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Colombia, Angola, Russia, and Yanbu of Saudi Arabia reached 98%, 68%, 99%, and 86.7% respectively, and the refinery in Yanbu generated 6,000 jobs both through direct hiring and in related supporting industries.

Employee volunteers of the UDM project in Russia visiting a local orphanage

6.3 Product and Service Management

Sinopec Corp. adheres to the tenet of 'high quality, sufficient quantity and customer satisfaction' and is committed to providing customers and consumers with high-quality products and services by continuously improving its product quality management system and service efficiency, and taking integrity and quality as top priorities.

6.3.1 Quality Management

The Company regards product quality as its 'lifeline' and strictly abides by relevant laws and regulations, including the Product Quality Law of China, the Measurement Law of China and the Standardisation Law of China. The Company also has formulated internal regulations to strictly ensure product quality and safety, such as the Measures for Quality Management of Refined Oil Products and Natural Gas and the Provisions on Accountability for Refined Oil Products and Natural Gas Quality Incidents.

6.3.2 Service Improvement

The Company upholds the belief of 'winning market with integrity, and creating value with service' and strives to continuously improve its customer service both online and offline in accordance with its service standards of 'enthusiastic, efficient, meticulous, and thoughtful in service'. The Company established the Sinopec Corp. Customer Service Hotline (95388, 0) to provide 24-hour coordinated handling of customer service of all business units. In 2020, we innovatively launched the 'one-touch refuelling service', which allows service station customers to have 'contactless' refuelling service without leaving their vehicles by using mobile App. The mobile App also offers other functions to drivers such as recharging, purchasing, online invoicing, and navigation.

Customer Satisfaction Survey Results in 2020:

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6.3.3 Customer Rights Protection

The Company strictly abides by the Consumer Rights Protection Law of China and the Anti-Unfair Competition Law. The Company continuously improved its customer service by listening to feedback and suggestions from customers and consumers, conducting customer satisfaction surveys and analysing customer complaints. To do so, the Company standardised its management process of customer complaints, including the principles, procedures, and precautions regarding the handling of customer complaints.

The Company adhered to the principles of lawfulness, fairness, transparency, and necessity to protect customer information. It required full disclosure of the purpose and method for the collection and use of customers' personal information, and ensures that they are accessed only when necessary. The Company regularly educated employees on information security and confidentiality, strictly regulated the authorisation process, and actively identifies and rectifies privacy risks to comprehensively protect customer privacy. In 2020, there was no incident of major breach of customer privacy in the Company.

Sinopec Corp. employees staying on the frontline to serve customers during the pandemic

6.4 Contributing to Philanthropy

Sinopec Lifeline Express Programme

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Drivers' Home Programme for Truck Drivers

77

Warm Stations Programme

Since 2013, we have been launching the Warm Station, Going Home with Love programme at our service stations to help home bound migrant workers before the Chinese New Year for eight consecutive years. In January 2020, we worked together with 30 partner organisations in Guangdong, Guangxi, Guizhou, Hunan and Jiangxi to offer free refuelling service, short-term accident insurance protection and other travel supplies to homebound migrant workers at our service stations. During the Chinese New Year holidays, we had served over 40 million migrant workers cumulatively.

Sanitation Workers' Stations Programme

The Sinopec Sanitation Workers' Station Programme was officially launched in 2016 to welcome sanitation workers to use Sinopec service stations to rest and enjoy some convenient services. The programme later expanded to Beijing-Tianjin-Hebei, Yangtze River Delta, Pearl River Delta, and Sichuan and Chongqing. By 2020, the Sanitation Workers' Station Programme reached a coverage of 1,604 gas stations and 744 service stations nationwide. During the pandemic, we also provided free masks to traffic police and sanitation workers at these locations to support these front-line heroes who stuck to their posts during the pandemic to provide necessary public services for society.

Guangxi Beihai Oil Product Company donated supplies to sanitation workers in the celebration of the Sanitation Workers' Day.

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Key Performance

Environmental Performance

GHGs emissions and management

Note：

1. The Company conducts GHGs emission (direct and indirect) accounting and verification according to ISO14064-1:2006 standards, covering six gases including carbon dioxide (CO₂), methane (CH₄), nitrous oxide (N₂O), hydro fluoro carbons (HFCs), perfluorinated compounds (PFCs) and sulphur hexafluoride (SF₆).

2. GHGs emissions intensity= Greenhouse gas emission / revenue (in RMB million)

79

Energy and resources

Emissions, effluents and wastes

Note:

3. Refers to the total amount of non-hazardous waste that disposed by qualified third-parties.

4. Refers to the total amount of hazardous waste entrusted for disposal by qualified third-parties.

Social Performance

Employment

80

Workplace health and safety

81

Supply chain

Employee training

82

Public welfare

83

Independent Assurance Report

2021/SH-0196

(Page1/3)

To the Board of Directors of China Petroleum & Chemical Corporation

We have been engaged to perform a limited assurance engagement on the selected 2020 key data as defined below in the 2020 Sustainability Report of China Petroleum & Chemical Corporation (the 'Company').

Selected Key Data

The selected key data in the Company's 2020 Sustainability Report that is covered by this report is as follows:

Our assurance was with respect to the year ended 31 December 2020 information only and we have not performed any procedures with respect to earlier periods or any other elements included in the 2020 Sustainability Report.

Criteria

The criteria used by the Company to prepare the selected key data in the 2020 Sustainability Report is set out in the basis of reporting of the key data (the 'basis of reporting') after this assurance report.

2021/SH-0196

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(Page2/3)

The Board of Directors' Responsibilities

The Board of Directors of the Company is responsible for the preparation of the selected key data in the 2020 Sustainability Report in accordance with the basis of reporting. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation of the selected key data in the 2020 Sustainability Report that is free from material misstatement, whether due to fraud or error.

Our Independence and Quality Control

We have complied with the independence and other ethical requirement of the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants, which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour.

Our firm applies International Standard on Quality Control 1 and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.

Practitioner's Responsibilities

It is our responsibility to express a conclusion on the selected key data in the 2020 Sustainability Report based on our work.

We conducted our work in accordance with the International Standard on Assurance Engagements 3000 (Revised) 'Assurance Engagements Other Than Audits or Reviews of Historical Financial Information'. This standard requires that we plan and perform our work to form the conclusion.

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in extent than for a reasonable assurance engagement. Consequently the level of assurance in a limited assurance engagement is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. Accordingly, we do not express a reasonable assurance opinion about whether the Company's 2020 selected key data in the 2020 Sustainability Report has been prepared, in all material respects, in accordance with the basis of reporting. Our work involves assessing the risks of material misstatement of the selected key data in the 2020 Sustainability Report whether due to fraud or error, and responding to the assessed risks. The extent of procedures selected depends on our judgment and assessment of the engagement risk. Within the scope of our work, we have performed the following procedures in the Head Office, Sinopec Beijing Oil Products Company and Sinopec Shanghai Petrochemical Company Limited. We have not conducted work in other subsidiaries.

1) Interviews with relevant departments of the Company involved in providing information for the selected key data within the Sustainability Report; and

2) Analytical procedure;

3) Examination, on a test basis, of documentary evidence relating to the selected key data on which we report;

4) Recalculation; and

5) Other procedures deemed necessary.

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(Page3/3)

Inherent Limitation

The absence of a significant body of established practice on which to draw to evaluate and measure non-financial information allows for different, but acceptable, measures and measurement techniques and can affect comparability between entities.

Conclusion

Based on the procedures performed and evidence obtained, nothing has come to our attention that causes us to believe that the 2020 selected key data in the 2020 Sustainability Report is not prepared, in all material respects, in accordance with the basis of reporting.

Restriction on Use

Our report has been prepared for and only for the board of directors of the Company and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the content of this report.

PricewaterhouseCoopers Zhong Tian LLP

Shanghai, China

March 26, 2021

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Appendices:

Compilation and Reporting Basis of Key Data

GHGs emission (million tonnes CO₂-equivalent):

GHGs emission disclosed herein refers to the sum of direct GHGs emission and indirect GHGs emission produced by the production operation subsidiaries of China Petroleum & Chemical Corporation.

Direct GHGs emission (million tonnes CO₂-equivalent)

Direct GHGs emission disclosed herein refers to direct GHGs emission from fixed emission source, mobile emission source, process emission source and escape emission source produced by the production operation subsidiaries of China Petroleum & Chemical Corporation.

Indirect GHGs emission (million tonnes CO₂-equivalent)

Indirect GHGs emission herein refers to indirect greenhouse gas emissions resulting from the consumption of purchased electricity, purchased heat (steam), etc by the production operation subsidiaries of China Petroleum & Chemical Corporation.

CO₂ capture (thousand tonnes)

CO₂ capture herein refers to the total amount of carbon dioxide captured by refinery enterprises of China Petroleum & Chemical Corporation in carbon dioxide recovery work.

Consumption of crude oil (million tonnes)

Consumption of crude oil herein refers to total end-use crude oil consumed by industrial subsidiaries of China Petroleum & Chemical Corporation.

Consumption of natural gas (billion cubic metres)

Consumption of natural gas herein refers to total end-use natural gas consumed by industrial subsidiaries of China Petroleum & Chemical Corporation.

Consumption of purchased electricity (billion kWh)

Consumption of purchased electricity herein refers to the difference between total consumption of electricity of industrial subsidiaries of China Petroleum & Chemical Corporation and their self-generated electricity.

Consumption of coal (million tonnes)

Consumption of coal herein refers to total coal consumed by industrial subsidiaries of China Petroleum & Chemical Corporation.

Weight of disposed hazardous waste（thousand tonnes）

Weight of disposed hazardous waste herein refers to the total weight of hazardous waste entrusted for process and disposal, which is collected in the Environmental Protection Information System of China Petroleum & Chemical Corporation.

Number of accidents reported

Number of accidents reported herein refers to the number of General Grade A and higher accidents that occurred of China Petroleum & Chemical Corporation. A General Grade A accident means an accident in which some person died.

Number of deaths due to production safety accidents

Number of deaths due to production safety accidents herein refers to the number of permanent employees that are eventually confirmed dead in General Grade A accidents of China Petroleum & Chemical Corporation.

Total number of employees

Total number of employees herein refers to the total number of employees who has signed full-time employment contracts with China Petroleum & Chemical Corporation, excluding dispatched employees.

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Employee turnover rate（%）

Employee turnover rate herein refers to the proportion of the number of employees whose labor contracts were terminated by China Petroleum & Chemical Corporation for personal reasons (excluding ordinary employees such as gas station operators).

Number of patients cured under the Lifeline Express Programme

Number of patients cured under the Lifeline Express Programme herein refers to the number of patients who have undergone rehabilitation surgery in the Lifeline Express Programme, which was launched by China Healthy Express Foundation in reporting year and supported by China Petroleum & Chemical Corporation.

88

Report Content Indexes

HKEX ESG Reporting Guide Content Index

89

90

91

UNGC Ten Principles Index

TCFD Index

92

UNGC Advanced Level Criteria Index

93

94

95

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