Ecopetrol Reshapes Management Structure to Enhance Energy Diversification and Efficiency

Ecopetrol Restructures for a Sustainable Future

Ecopetrol S.A., Colombia's premier energy company, has made important adjustments to its senior management in alignment with its ambitious 2040 strategy called "Energy that Transforms." Announced on February 1, 2025, this restructuring aims to assert the company's leadership in energy diversification across the region and establish a more streamlined and effective organizational framework.

The adjustments, approved by the Board of Directors on January 31, 2025, are crucial for enhancing the management of the company's various business lines. They aim to ensure competitive returns while clearly separating governance functions from operational execution. These moves underscore Ecopetrol's commitment to agility and efficiency in a rapidly changing energy landscape.

Among the notable changes, the Corporate Legal Vice Presidency has been expanded to include the General Secretariat, now dubbed the Corporate Legal Vice Presidency and General Secretariat. María Cristina Toro Restrepo has been confirmed for the role of Corporate Legal Vice President and General Secretary, reporting directly to the company's President. This change reflects the importance of legal and corporate governance in managing the complex landscape of energy production and distribution.

Additionally, Rafael Ernesto Guzmán Ayala has been appointed as the Executive Vice President of Hydrocarbons, a role in which he will also report directly to the President. His appointment illustrates a focus on bolstering leadership in hydrocarbon management, which remains a critical area for Ecopetrol, given its significant role in Colombia’s economy.

The renaming of the Upstream Vice Presidency to Exploration, Development, and Production Vice Presidency, under the leadership of Juan Carlos Hurtado Parra, marks another strategic enhancement. This division will continue reporting directly to the Executive Vice President of Hydrocarbons, aligning leadership more directly with exploration and production strategies, which are vital for sustainable growth.

Ecopetrol is not only the largest company in Colombia but also a major player in the Americas' energy sector, employing over 18,000 individuals. Its influence reaches beyond Colombian borders, with significant hydrocarbon production and operational segments in transportation, logistics, refining, petrochemicals, and gas distribution. The company proudly oversees more than 60% of Colombia's hydrocarbon production.

With the acquisition of 51.4% of Interconexión Eléctrica S.A. (ISA), Ecopetrol has expanded its role in energy transmission and real-time system management. Furthermore, it has an established presence in the U.S. through drilling operations in the Permian Basin and the Gulf of Mexico, as well as strategic interests in Brazil, Mexico, and several South American nations.

Ecopetrol’s strategic initiatives also extend to telecommunications and road concessions in countries like Chile, indicating a comprehensive approach to business diversification. This restructuring is not just about internal changes; it reflects a broader vision for ecological and economic sustainability that aligns with global energy trends.

Importantly, this release contains forward-looking statements as defined in U.S. securities law, posing inherent risks and uncertainties regarding the company's growth trajectory and capital access for executing its ambitious business plans. Factors such as fluctuating oil and gas market prices, regulatory environments, and broader economic conditions in Colombia can significantly influence actual results compared to the optimistic projections provided here.

Ecopetrol’s latest management adjustments and strategic vision aim to navigate these complexities and secure its position as a leader in the energy sector well into the future. The company's commitment to transparency and responsiveness in its operating structure is crucial as it adapts to the evolving energy landscape. This significant shift comes as Ecopetrol reiterates its commitment to a sustainable energy future, promoting not only efficiency but also environmental responsibility within the energy sector.

For more operational insights or media inquiries, contact:

- Cristhian Vicente Prado Castillo (Head of Capital Markets)
- Marcela Ulloa (Head of Corporate Communications)

Through these strategic changes, Ecopetrol illustrates its ongoing commitment to evolve and lead in a critical industry that not only powers economies but also shapes the future of energy sustainability.