Core Viewpoint - Ecopetrol S.A. has entered into an asset purchase agreement with Statkraft for the potential acquisition of a renewable energy portfolio in Colombia, which includes solar and wind projects totaling up to 1.3 GW [1][3]. Group 1: Acquisition Details - The portfolio includes one company focused on solar and wind asset development, six special purpose entities with solar projects (614 MW), and three special purpose entities with wind projects (750 MW) [1][2]. - The acquisition is contingent upon fulfilling certain conditions and legal requirements [1]. Group 2: Strategic Importance - If completed, this acquisition would significantly advance Ecopetrol's decarbonization and energy transition goals, particularly the aim of achieving 900 MW of renewable self-generation capacity by 2025 [3]. - The transaction is expected to enhance low-emission energy generation for Ecopetrol's self-consumption, thereby reducing reliance on spot market purchases and diversifying the company's energy matrix [3]. Group 3: Company Overview - Ecopetrol is the largest company in Colombia and a major integrated energy player in the Americas, responsible for over 60% of the country's hydrocarbon production [5]. - The company has a diverse portfolio that includes energy transmission, real-time system management, and international operations in strategic basins across the Americas [5].

Core Insights - Statkraft has signed an agreement to sell its Colombian renewables portfolio, Enerfín Colombia, to Ecopetrol, the national oil company of Colombia [1] - The transaction includes staff, eight projects under development, and the 130 MW Portón del Sol solar plant, which was the first utility-scale solar plant in Colombia [1] - The sale is expected to be completed in the third quarter of 2025, pending regulatory approvals [2] Company Strategy - The divestment of Enerfín Colombia is part of Statkraft's strategy to streamline its operations outside core markets, confirming the company's ability to build a skilled team and an attractive portfolio in Colombia [3] - Statkraft's acquisition of the Colombian renewables portfolio in May 2024 significantly strengthened its position in Spain and Brazil, making it one of the top 10 wind power producers in those countries [4] - The acquisition added a portfolio of 1.5 GW of wind and solar power projects in operation and under construction, along with a pipeline of projects under development, aligning with Statkraft's strategy to grow in selected markets in the Nordics, Europe, and South America [4]

FINANCIAL RESULTS 1st Quarter Legal Disclaimer Financial Results This document was prepared by Ecopetrol S.A. (the "Company" or "Ecopetrol") with the purpose of providing the market and interested parties certain financial and other information of the Company. This document may include strategy discussions and forward-looking statements regarding the probable development of Ecopetrol's business. Said projections and statements include references to estimates or expectations of the Company regarding its futu ...

Financial Data and Key Metrics Changes - The first quarter of 2025 saw stable financial performance despite lower Brent prices, with net income at COP 3.1 trillion and EBITDA at COP 13.3 trillion, resulting in an EBITDA margin of 42% [38] - The refining margin decreased by $3.9 per barrel compared to the same period last year, attributed to various factors including product differentials and scheduled maintenance [22][23] - The company executed investments of $1.2 billion, exceeding the average for the first quarter over the past five years [39] Business Line Data and Key Metrics Changes - In the hydrocarbons line, average production reached 745,000 barrels of oil equivalent per day, marking the highest crude oil production in Colombia in the last five years [17] - The midstream segment experienced a 2% decrease in transported volumes compared to the first quarter of 2024, primarily due to scheduled maintenance [19] - The refining throughput for the first quarter was 396,000 barrels per day, representing a nearly 7% reduction compared to the same period in 2024 [21] Market Data and Key Metrics Changes - Ecopetrol supplied approximately 68% of Colombia's natural gas demand during the first quarter, reaffirming its critical role in national energy security [7][32] - The company reported a significant contribution from the energy efficiency program, generating savings of nearly COP 23 billion and avoiding over 90,000 tons of CO2 equivalent emissions [8][32] Company Strategy and Development Direction - The company is focused on diversifying its customer base and enhancing commercial management to navigate global uncertainties and price volatility [4] - Ecopetrol is committed to increasing its renewable energy capacity, aiming for over 1,000 megawatts of cell generation capacity this year [8] - The company is advancing projects in natural gas and renewable energy, including a regasification project expected to begin operations in Q2 2026 [6][28] Management's Comments on Operating Environment and Future Outlook - Management highlighted the importance of maintaining operational and capital discipline in response to geopolitical tensions and OPEC supply increases [4] - The company anticipates challenges due to potential declines in Brent prices but has implemented measures to enhance resilience and financial flexibility [45][48] - Management expressed confidence in the company's ability to generate sustainable value despite market volatility [49] Other Important Information - The company has made significant progress in its efficiency program, achieving COP 700 billion in savings across various segments [26] - Ecopetrol's cash balance closed at COP 17 trillion, generating a positive free cash flow of COP 1.4 trillion [40] - The company is actively managing its debt levels, with a gross debt to EBITDA ratio remaining steady at 2.2 times [40] Q&A Session Summary Question: Impact of falling oil prices on EBITDA and revenue - Management confirmed that each dollar change in Brent impacts EBITDA by COP 740 million and net profit by COP 370 million, with a breakeven for production at $55 per barrel [51][56] Question: VAT implications and future payments - Management explained that the new VAT ruling requires ongoing payments, with expectations to recover 93% of the amount through tax returns [66][68] Question: Sensitivity of production to CapEx reduction - Management indicated that 99% of production has a breakeven of $55 per barrel, and priority will be given to investments that create new production [74][75]

Financial Data and Key Metrics Changes - The first quarter of 2025 saw stable financial performance despite lower Brent prices, with net income at COP 3.1 trillion and EBITDA at COP 13.3 trillion, resulting in an EBITDA margin of 42% [37] - The refining margin decreased by $3.9 per barrel compared to the same period last year, attributed to various factors including product differentials and scheduled maintenance [22][21] - The company executed $672 million in investments during the first quarter, achieving 17% progress on its investment plan [18][9] Business Line Data and Key Metrics Changes - In hydrocarbons, average production reached 745,000 barrels of oil equivalent per day, marking the highest crude oil production in Colombia in the last five years [17] - The midstream segment experienced a 2% decrease in transported volumes compared to Q1 2024, primarily due to scheduled maintenance at the Barrancabermeja refinery [19] - The refining throughput for Q1 2025 was 396,000 barrels per day, a nearly 7% reduction from the same period in 2024 [21] Market Data and Key Metrics Changes - Ecopetrol supplied approximately 68% of Colombia's natural gas demand during Q1 2025, reaffirming its critical role in national energy security [32] - The company reported a significant contribution from the energy efficiency program, generating savings of nearly COP 23 billion and avoiding over 90,000 tons of CO2 equivalent emissions [32][8] Company Strategy and Development Direction - The company is focused on diversifying its hydrocarbon portfolio and increasing reserves, with significant investments in exploration and production, particularly in the Permian and offshore Brazil [16][13] - Ecopetrol is committed to renewable energy, aiming to achieve over 1,000 megawatts of solar generation capacity this year [7] - Strategic projects are underway to enhance refining capacity and improve product quality, contributing to the energy transition and reducing fuel imports [25][24] Management's Comments on Operating Environment and Future Outlook - Management highlighted the high global uncertainty and volatility in Brent prices due to geopolitical tensions and OPEC+ supply increases, but expressed confidence in the company's strategies to navigate these challenges [4] - The company anticipates that Brent prices may fall below financial projections for 2025, prompting proactive measures to enhance operational and financial resilience [45][49] - Management emphasized the importance of maintaining capital discipline and operational continuity amid market fluctuations [48] Other Important Information - The company has made significant progress in its efficiency program, achieving cost reductions and optimizing operations across all segments [26] - Ecopetrol's cash balance closed at COP 17 trillion, generating a positive free cash flow of COP 1.4 trillion [40] - The company is actively managing its debt levels and has secured a loan facility to meet operational cash requirements [41] Q&A Session Summary Question: Impact of falling oil prices on EBITDA and revenue - Management confirmed that each dollar change in Brent impacts EBITDA by COP 740 million and net profit by COP 370 million, with a breakeven for production at below $55 per barrel [56][60] Question: VAT implications and future payments - Management clarified that the new VAT ruling will require ongoing payments, with expectations to recover approximately 93% of the VAT through tax returns [68][69] Question: Sensitivity of production to CapEx reduction - Management indicated that while there is flexibility in CapEx, priority will be given to investments that protect production and reserves, with no current plans to cut back on production [76][75]

Group 1 - Ecopetrol S.A. has been authorized by the Ministry of Finance and Public Credit to execute a loan agreement of up to USD 500 million with Banco Santander, with a term of five years and an interest rate indexed to the SOFR rate [1][2] - The funds from the loan will be allocated to non-investment expenses and will assist in achieving the Gross Debt/EBITDA target for 2025 [2] - The loan agreement reflects the international financial sector's support and confidence in Ecopetrol Group's strategy, despite a challenging market context [3] Group 2 - Ecopetrol is the largest company in Colombia and a major integrated energy company in the Americas, responsible for over 60% of the country's hydrocarbon production [4] - The company has a significant presence in energy transmission and holds leading positions in petrochemicals and gas distribution, with operations in the United States, Brazil, Mexico, and other countries [4]

Core Viewpoint - Ecopetrol S.A. is initiating a joint plan to ensure the continuity of gas projects in the Southern Caribbean following Shell's withdrawal from its offshore assets in the region [1][2]. Group 1: Project Continuity and Development - Shell's withdrawal is linked to its global portfolio strategy, impacting gas discoveries in the Col 5, Purple Angel, and Fuerte Sur blocks, which are considered priority projects for Ecopetrol and Colombia [2][3]. - The Gorgon development project is expected to be completed by the first half of 2029, with production anticipated to start between 2031 and 2032 [3]. - Ecopetrol is exploring connection options with the National Transportation System to commercialize gas from the Gorgon project and meet national demand [3]. Group 2: Strategic Partnerships and Investments - Ecopetrol continues to partner with Shell and Total Energies in the development of the Gato Do Mato field in Brazil, with significant resources allocated for 2025 [4]. - The company is committed to developing gas resources in the Caribbean Sea, viewing gas as a key component of the energy transition [4]. Group 3: Company Overview - Ecopetrol is the largest company in Colombia, responsible for over 60% of the country's hydrocarbon production and holding leading positions in petrochemicals and gas distribution [5]. - The company has a significant international presence, with operations in the United States, Brazil, and Mexico, and holds leading positions in power transmission in several South American countries [5].

Core Insights - Ecopetrol S.A. is the largest company in Colombia and a major integrated energy player in the Americas, employing over 19,000 people and responsible for more than 60% of the country's hydrocarbon production [1] - The company has recently acquired 51.4% of ISA's shares, expanding its involvement in energy transmission and real-time systems management, as well as road concessions [1] - Ecopetrol has significant international operations, including drilling and exploration in the U.S. (Permian basin and Gulf of Mexico), Brazil, and Mexico, and holds leading positions in power transmission in Brazil, Chile, Peru, and Bolivia [1] Management Appointments - Julián Fernando Lemos has been appointed as Corporate Vice President of Strategy and New Business, effective May 1, 2025, bringing 19 years of experience in leadership and investment management [3] - Diana Marcela Jiménez will serve as Director of Institutional Relations and Communications, effective May 1, 2025, with 20 years of experience in stakeholder engagement and corporate communication [3] - Julio César Herrera has been appointed as Vice President of Commercial and Marketing, effective May 1, 2025, with over 15 years of experience in the energy sector [3]

Core Viewpoint - Ecopetrol S.A. has filed its annual report under Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission, fulfilling its reporting obligations to various stakeholders [1][2]. Group 1: Financial Reporting - The annual report includes financial statements audited by Ernst & Young Audit S.A.S. for the years 2022, 2023, and 2024, in accordance with International Financial Reporting Standards (IFRS) [2]. - The 2024 Form 20-F is accessible online through the SEC's website [2]. Group 2: Company Overview - Ecopetrol is the largest company in Colombia and a major integrated energy company in the Americas, employing over 19,000 individuals [2]. - The company is responsible for more than 60% of Colombia's hydrocarbon production and holds leading positions in petrochemicals and gas distribution [2]. - Ecopetrol has acquired 51.4% of ISA's shares, expanding its involvement in energy transmission and infrastructure projects [2]. - Internationally, Ecopetrol has operations in strategic basins in the U.S. (Permian basin and Gulf of Mexico), Brazil, and Mexico, and holds significant positions in power transmission in Brazil, Chile, Peru, and Bolivia [2].

BUSINESS COMMITTEE CORPORATE GOVERNANCE AND SUSTAINABILITY COMMITTEE Luis Felipe Henao Cardona (Chairperson) REMUNERATION, APPOINTMENTS, AND CULTURE COMMITTEE HSE COMMITTEE BOGOTA, Colombia, April 24, 2025 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that the Board of Directors, in its session on April 22 and 23, 2025, decided that Guillermo García Realpe and Mónica de Greiff Lindo will continue in their roles as Chairperson and Vice-Chairperson of the Board of Directors, respectively. ...