Renegotiations of Collective Bargaining Agreement

Core Viewpoint - Ecopetrol S.A. is currently engaged in the renegotiation of its Collective Bargaining Agreement with various labor organizations, indicating a proactive approach to labor relations and commitment to dialogue [1][2]. Group 1: Company Overview - Ecopetrol is the largest company in Colombia and a major integrated energy company in the Americas, employing over 19,000 individuals [3]. - The company is responsible for more than 60% of Colombia's hydrocarbon production and holds leading positions in petrochemicals and gas distribution [3]. - Ecopetrol has expanded its operations through the acquisition of 51.4% of ISA's shares, which enhances its involvement in energy transmission and other sectors [3]. Group 2: Labor Relations - Several labor organizations, including Adeco, Sindispetrol, and others, have initiated the renegotiation of their respective chapters of the Collective Bargaining Agreement by filing complaints with the Ministry of Labor [1]. - The Colombian Labor Code allows parties to request amendments to collective bargaining agreements through such complaints, emphasizing the legal framework governing these negotiations [2]. - Ecopetrol has reaffirmed its commitment to maintaining open and constructive dialogue as a foundation for reaching agreements that benefit workers and the country [2].