#Ecopetrol #Colombia #Bogota #shareholder meeting

Ecopetrol's Commitment to Shareholder Representation

Ecopetrol S.A., recognized as Colombia's largest company, is taking significant steps to ensure that its shareholders are adequately represented at the upcoming Annual General Meeting (AGM) set for March 27, 2026. This initiative comes in accordance with the Legal Basic Circular by the Financial Superintendence of Colombia, specifically Part III, Title I, Chapter VI, aiming to enhance transparency and governance within the company.

As part of these measures, Ecopetrol has outlined several important protocols that shareholders and proxies must adhere to. One of the primary steps is informing shareholders of their right to appoint proxies, while also clarifying the legal conditions required for such proxies to be considered valid. This ensures that all shareholders, regardless of their ability to attend the meeting physically, can still participate in the decision-making processes of the company.

Additionally, the company will strictly supervise the proxy assignments. Individuals designated to verify these assignments must reject those proxies that do not meet the minimum legal requirements. Moreover, proxies that fail to clearly state the name of the appointed representative are not acceptable, reinforcing the need for clarity and accountability in these assignments.

Ecopetrol has also emphasized the importance of neutrality during the proxy process. The management and employees of the company are explicitly instructed not to suggest or influence the appointment of proxies nor recommend specific candidates for board positions. This policy aims to maintain an impartial environment during the voting procedures, enabling shareholders to make informed choices based solely on their interests.

Furthermore, the company has placed restrictions on granting powers of attorney. These powers cannot be allocated to individuals with direct or indirect ties to Ecopetrol’s management or employees, ensuring that there is no conflict of interest which could potentially undermine the integrity of the AGM.

Employees are reminded not to represent any shares other than their own at the meeting unless they have legal authorization. This rule is intended to prevent any misrepresentation and ensure that all votes reflect the true wishes of the shareholders they represent.

The Corporate Legal Vice Presidency and the General Secretariat will take on the crucial role of overseeing and verifying compliance with these new measures. By designating a responsible area within the company, Ecopetrol aims to guarantee that all regulations are followed meticulously, enhancing the overall governance standards of the organization.

As the largest integrated energy company in the Americas, Ecopetrol is responsible for a significant portion of Colombia’s hydrocarbon production as well as holding pivotal roles in petrochemicals and gas distribution. With over 60% of hydrocarbon production within the country, the company's influence extends far beyond Colombia. Its recent acquisition of 51.4% of Interconexión Eléctrica S.A. (ISA) signifies their strategic expansion in energy transmission, further carving a niche in countries such as Brazil, Chile, Peru, and Bolivia.

Ecopetrol also possesses drilling and exploration operations in significant basins across the Americas, including the United States, Brazil, and Mexico. Their robust international presence in various sectors, including power transmission and telecommunications, reflects their commitment to growth and stability in the energy sector.

As part of their commitment to transparency, Ecopetrol underscores the significance of adhering to these new measures not only for the upcoming AGM but to establish a framework for future shareholder relations. The necessary steps taken by Ecopetrol showcase a proactive stance toward maintaining shareholder trust and accountability, which is crucial for the company's ongoing success and market credibility.

In closing, these announcements come with a recognition of the risks and uncertainties inherent to forward-looking statements. Factors impacting their operations include oil and gas prices, market conditions, regulatory changes, and the performance of Colombia's economy, among others. Ecopetrol remains focused on navigating these challenges while ensuring the best interests of its shareholders are prioritized in every organizational facet.