#Ecopetrol #Colombia #Bogota #Ricardo Roa

Ecopetrol President Charged with Influence Peddling

In a significant development, Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced that its President, Ricardo Roa, has been formally charged by the Attorney General's Office. This action stems from an ongoing investigation into allegations of influence peddling involving Roa. The formal notice was communicated during proceedings held in the 35th Court of Guarantees located in Bogotá, Colombia.

The indictment marks a critical juncture as it formally ties Mr. Roa to criminal proceedings. It is an essential legal step that outlines the facts under scrutiny and initiates his right to defend against the allegations. However, it is crucial to note that this proceeding does not equate to a guilty verdict or any sort of judicial decision; hence, Mr. Roa is presumed innocent until proven otherwise, as affirmed by the Board of Directors.

The Board of Directors of Ecopetrol has expressed its commitment to respecting the legal framework and due process associated with the ongoing investigations. In a plenary session held on March 11, 2026, they reiterated their respect for Roa's presumption of innocence, while also emphasizing their fiduciary duties under the guiding laws and regulations such as Law 222 of 1995 and Law 964 of 2005. The board indicated plans to proceed with due diligence in addressing the allegations brought against the President.

To uphold the integrity of the organization amid these allegations, the Board of Directors has initiated an internal investigation. This protocol, which governs how such situations should be managed, aims to evaluate all claims carefully while also seeking advice from both national and international firms with expertise in legal matters.

In an effort to ensure transparency and investor confidence, the Board will continuously review the financial implications of Roa's situation, analyzing the potential impact this could exert on the company's stock and overall operations in the marketplace. This pledge to close monitoring highlights their commitment to safeguarding the interests of investors and stakeholders associated with Ecopetrol.

Since its inception, Ecopetrol has positioned itself as Colombia's largest company and a leading energy enterprise throughout the Americas, employing over 19,000 individuals. The company holds extensive operational responsibilities, including over 60 percent of the country's hydrocarbon production and encompasses a vast logistics, transportation, and refining framework.

Additionally, with a recent acquisition of 51.4% of ISA's shares, Ecopetrol is poised to enhance its role in energy transmission and other utility management across the region, including impactful presences in the United States, Brazil, Mexico, and Chile. Despite the legal battles encountered by its top executive, Ecopetrol remains steadfast in its pursuit of ensuring operational excellence and adhering to the principles of governance.

Ecopetrol believes that overcoming these challenges is not only vital for maintaining the trust placed in them by stakeholders but also crucial for their strategic objectives moving forward. In conclusion, the ongoing case against President Ricardo Roa will be vigilantly observed by the Board, given its potential ramifications for the company's reputation and fiscal health.

For any inquiries or additional information, the Investor Relations Department at Ecopetrol is available via email at [email protected]