Ecopetrol Gains Favorable Ruling from CVM on Tender Offer Appeal

Ecopetrol Receives Positive CVM Decision

On July 15, 2026, Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) made a significant announcement regarding its subsidiary, Ecopetrol Investimentos do Brasil. The Brazilian Securities and Exchange Commission (CVM) ruled in favor of Ecopetrol Investimentos concerning an administrative appeal linked to a public tender offer for shares. This decision comes after a session held by the CVM Board of Commissioners on July 14, 2026.

This ruling has revitalized Ecopetrol’s plans, as it mentions that a previous suspension on the public tender offer (OPAV) is ineffective. Ecopetrol Investimentos is now required to amend and publish its OPAV document by July 22, 2026, which should include a new auction date. The company expressed its commitment to keep the market informed about any significant developments related to this transaction.

Founded in Colombia, Ecopetrol stands as the largest company in the nation and is considered one of the leading integrated energy firms in the Americas. With over 19,000 employees, it plays a vital role in the hydrocarbon sector, accounting for more than 60% of the hydrocarbon production and managing extensive transportation, logistics, and refining operations across the country. Furthermore, it holds key positions in petrochemicals and gas distribution.

Adding to its influence, the acquisition of 51.4% of Interconexión Eléctrica S.A.'s (ISA) shares has enabled Ecopetrol to participate actively in energy transmission, and managing real-time systems, along with holding a concession for the Barranquilla-Cartagena coastal highway. On an international scale, Ecopetrol engages in drilling and exploration projects in notable regions such as the United States (including the Permian basin and the Gulf of Mexico), Brazil, and Mexico. Through its association with ISA and its subsidiaries, it enjoys a strong foothold in power transmission not only in Brazil but also in Chile, Peru, and Bolivia, as well as concessions in Chile's roadways and telecommunications.

This triumph at the CVM highlights Ecopetrol's resilient pursuit of progress and openness in its operational strategies. As the market watches closely, it is expected that the company’s next steps regarding the public tender offer will showcase how Ecopetrol intends to leverage this ruling to further its objectives.

Statements made in this release are forward-looking and involve associated risks and uncertainties. Changes in various factors could lead to actual results differing materially from those anticipated, such as fluctuations in oil and gas market prices, exploration and production activities, market conditions, and regulatory changes. Ecopetrol remains dedicated to informing its stakeholders as developments occur.

For more information, contact:
Investor Relations Office: Email [email protected]
Head of Corporate Communications (Colombia) Marcela Ulloa: Email [email protected]