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Ecopetrol Announces Nomination of Candidate for Board of Directors

1. Ecopetrol nominates Dr. Ricardo Rodriguez Yee to Board of Directors. 2. Ecopetrol controls over 60% of Colombia's hydrocarbon production. 3. Company has significant international exploration in the Americas. 4. Ecopetrol's growth depends on oil prices and market conditions. 5. Acquired 51.4% of ISA, enhancing energy and infrastructure assets.

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FAQ

Why Bullish?

The nomination of a candidate to the board suggests strategic alignment and potential growth. Similar past nominations, especially in resource companies, have improved market confidence and stock performance.

How important is it?

The nomination is crucial for Ecopetrol's strategic direction and governance, influencing investor perception. Leadership changes in large companies often lead to positive or corrective shifts in policy.

Why Long Term?

Long-term impact due to strategic positioning in energy markets, which may increase shareholder value over time. Past acquisitions like ISA show sustained benefits in operational capacity.

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ISACOPXOM
, /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") announces that, in accordance with the declaration of the Nation, as the majority shareholder and following the established procedure therein, representatives of the hydrocarbon producing departments in which Ecopetrol operates have unanimously agreed to nominate Dr. Ricardo Rodriguez Yee as their candidate to the Board of Directors. See the document signed by the representatives of the departments attached below. (Available in Spanish) Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements.  For more information, please contact: Head of Capital MarketsCarolina Tovar AragónEmail: [email protected]  Head of Corporate Communications (Colombia) Marcela Ulloa Email: [email protected]  SOURCE Ecopetrol S.A. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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