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, the Guidelines No. 14 of Shanghai Stock Exchange for Self-Regulation of Listed Companies—Sustainability Report (Trial) issued by Shanghai Stock Exchange, and the Environmental, Social and Governance Reporting Guidelines issued by Hong Kong Stock Exchange, and continuously optimise its environmental, social and corporate governance (hereinafter referred to as “ESG”) mechanism. We will further strengthen the Board's role in supervising and participation in 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 is the highest responsibility and decision-making agency, bearing the ultimate responsibility for Sinopec Corp.'s ESG governance. The Sustainability Committee under the Board of Directors is responsible for reporting to the Board on matters related to the Company's sustainability (including environmental, social, and governance aspects) related issues and making relevant recommendations, including overseeing and deliberating the implementation and progress of the Company's sustainability and ESG strategies and plans; overseeing the commitments and performances of the Company on key ESG issues such as climate change, safety and occupational health, technological innovation, and product quality management; overseeing key information regarding sustainability issues related to the Company's businesses and conducting relevant researches on sustainability related topics; and approving the Company's annual sustainability reports and reporting to the Board of Directors the sustainability performances of the Company. The Sustainability Committee is composed of four directors, including one independent director, with Chairman of the Board serving as the chairperson of the committee. The Sustainability Committee convenes at least once each year to inform the Board on ESG related issues. Ad hoc meetings can be convened when proposed by either the chairperson of the committee or two or more committee members.

ESG Management Strategy and Policies

The Company attaches great importance to ESG management, adheres to the development concept of “innovation, coordination, green, open, and sharing”, and deeply implements development strategies of “value-leading, market-oriented, innovation-driven, green and clean, open and cooperation, and talents to revitalise the enterprise”. The Company analyses ESG-related risks and opportunities in the context of macro policies, socio-economic environment, industry trends, ESG related regulatory changes, corporate strategy, production and operation results, and stakeholder engagement of the Company. It also carries out materiality analysis by interviewing key departments, trainings and exchanges, thematic exchanges, expert assessment, and stakeholder engagement, to identify the impacts, risks and opportunities of the Company's key ESG issues, continuously optimise its ESG management and risk control, and improve the overall ESG governance of the Company.

Targets, Indicators and Review of Progresses

The Company has established an ESG target management mechanism, and set up ESG performance targets in its development plans and key tasks on key issues that highly related to the development of Company, such as climate change, safety and occupational health, technological innovation, and product quality management. The Sustainability Committee regularly reviews the progress of the targets and reports to the Board of Directors accordingly. To ensure the fulfillment of these targets, the Company signs annual performance commitments with management staff and subsidiaries to integrate key ESG performance indicators into the KPIs for key management staff. To ensure the reliability of our ESG performance indicators, the Company contracted KPMG Hua Zhen LLP to conduct an independent assurance of the 2024 Sinopec Corp. Sustainability Report, and issued independent assurance opinions regarding 27 ESG performance indicators of the Company.

Board of Directors

China Petroleum & Chemical Corporation

March 21, 2025