Minority Shareholders of Ecopetrol Propose New Candidate for Board Membership

Ecopetrol's Minority Shareholders Nominate New Board Candidate

Ecopetrol S.A., the leading energy company in Colombia, has confirmed that minority shareholders have officially nominated Dr. Luis Felipe Henao Cardona for a position on the Board of Directors. This nomination aligns with the procedural guidelines set forth in the declaration by the Nation, which serves as the principal shareholder of the company. This strategic endeavor from minority stakeholders is aimed at reinforcing their influence and interests within the company’s governance structure.

The announcement was made public on March 6, 2025, highlighting the active role that minority shareholders are embracing in shaping the future of a company that stands tall in the Latin American energy sector. As the largest corporation in Colombia, Ecopetrol is crucial in producing and refining hydrocarbons, boasting a workforce of over 19,000 employees. The company’s operations account for more than 60% of the hydrocarbon production in the nation, indicating its immense significance in the Colombian economy.

Ecopetrol is not just pivotal in Colombia but also holds a substantial presence across the Americas, engaging in operations that focus on drilling and exploration in vital regions such as the United States (including the Permian Basin and the Gulf of Mexico), Brazil, and Mexico. Moreover, through its subsidiary ISA, Ecopetrol has made significant strides in energy transmission and holds numerous strategic positions across countries like Brazil, Chile, Peru, and Bolivia.

The nomination of Dr. Henao Cardona signifies an intriguing development within Ecopetrol’s governance, suggesting that minority shareholders are keen on their opinions being heard as the company navigates the complexities of the energy market in the Americas. Their involvement reflects a growing trend among shareholders emphasizing the necessity for diversity and representation at the decision-making table.

Dr. Luis Felipe Henao Cardona is recognized for his expertise and experience, making him a strong candidate for this significant role. The outcome of this nomination will likely be pivotal in determining the future direction of Ecopetrol as it seeks to enhance its operations and expand its market presence.

This statement also includes forward-looking declarations regarding Ecopetrol's growth prospects and potential capital access required to fulfill corporate objectives. As with any major corporate undertaking, the company faces risks influenced by fluctuating oil and gas prices, evolving market conditions, regulatory changes, and the overall economic climate in Colombia.

Stakeholders are now watching keenly as this nomination progresses, with implications that could reshape Ecopetrol’s management landscape. The board's response towards this nomination will likely gauge the extent of adaptability and responsiveness to shareholder interests, particularly in a time when corporate governance is under increased scrutiny worldwide.

For any further inquiries, interested parties can contact Carolina Tovar Aragón, the Head of Capital Markets, or Marcela Ulloa, the Head of Corporate Communications (Colombia), to gather more insights about this strategic development within Ecopetrol S.A.