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Ecopetrol S.A. Receives Authorization for Bond Program Amendments

On July 1, 2025, Ecopetrol S.A., one of Colombia's largest integrated energy companies, announced that it has obtained formal approval from the Financial Superintendency of Colombia (SFC) to amend its Local Public Bond and Commercial Paper Issuance and Placement Program. This significant development, as per the SFC's Resolution 1139 dated June 11, 2025, marks a transformative step in Ecopetrol's approach towards financing initiatives aimed at sustainability and energy transition.

The amendments outlined in Addendum No. 5 will introduce several key updates designed to align the bond issuance program with Ecopetrol’s corporate strategy, emphasizing ecological responsibility and financial flexibility. Key features of the updated program include the issuance of local public bonds linked to sustainable performance, alongside bonds earmarked for specific purposes such as green, blue, and social projects. Moreover, Ecopetrol is now empowered to allow investors to make in-kind payments through these bond transactions, a novel approach in the Colombian market.

Other updates enable the reopening of previously issued bonds under the Program and the introduction of bonds indexed to the Real Value Unit (UVR) and the Representative Market Exchange Rate (TRM). These changes pave the way for a more competitive and diverse offering in capital markets, as well as a streamlined allocation process for securities through a book-building strategy.

Remarkably, since the inception of the bond issuance program in August 2013, where an initial total of 900 billion Colombian pesos (COP 900,000,000,000) was raised, Ecopetrol has yet to issue any further bonds. The amended program now allows for an additional issuance of bonds and commercial papers totaling up to 2.1 trillion Colombian pesos (COP 2,100,000,000,000). Ecopetrol has assured the market that any future issuances will be communicated promptly.

Ecopetrol stands as the largest producer of hydrocarbons in Colombia, contributing over 60% of the country's hydrocarbon production and holding prominent positions in the refining, logistics, and petrochemical sectors. With a workforce of more than 19,000 employees, the company operates not only within Colombia but also has strategic interests in several countries across the Americas. Recent initiatives have seen Ecopetrol acquire a 51.4% stake in Interconexión Eléctrica (ISA), which expands its footprint into energy transmission and infrastructure.

Internationally, the company has established drilling and exploration operations in crucial basins located in the United States, Brazil, and Mexico. Additionally, Ecopetrol has stepped into the power transmission sector, positioning itself not only as a leader in Colombia but also pushing into markets in Brazil, Chile, Peru, and Bolivia, which showcases a remarkable growth trajectory in various dimensions of the energy sector.

As Ecopetrol ventures into this new phase of its financial strategy, it acknowledges the inherent risks and uncertainties associated with forward-looking statements. Factors affecting its plans include oil and gas market prices, regulations, and overall economic performance in Colombia, all of which could significantly impact its operational success. Nevertheless, the amendments to the bond issuance program reflect Ecopetrol's commitment to adapting its business model to meet contemporary environmental challenges while continuing to pursue growth in capital markets.

For additional insights regarding the bond program or other corporate developments, stakeholders are encouraged to reach out to Ecopetrol’s Capital Markets division or Corporate Communications department.

Ecopetrol continues to be a vital player in Colombia's energy landscape while championing sustainable business practices. As the landscape of finance evolves, so too does Ecopetrol's strategy to secure its legacy as a leading global energy company.