Ecopetrol Dissolves Subsidiary Energy Company

30da4bd56e868d624bbaa6a98ac38ec7 2 Ecopetrol announces the liquidation of one of its subordinates

BOGOTA, Colombia, Oct. 11, 2024 — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced that the Shareholders’ Meeting of its subsidiary, Ecopetrol Energia S.A.S E.S.P., has approved the liquidation of the company. This decision, which was made with the unanimous approval of all subscribed shares, authorizes the liquidator, Mr. Christian Schneider Jaramillo, to carry out the necessary steps for the liquidation process. Ecopetrol Energia S.A.S E.S.P. was originally established for the purpose of energy commercialization but its commercial registration was cancelled in early October.

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The decision to liquidate Ecopetrol Energia S.A.S E.S.P. stems from the fact that Ecopetrol S.A. is now the parent company of an electric power transmission company. Current regulations prohibit the same group from engaging in both commercialization and transmission activities simultaneously.

Ecopetrol is the largest company in Colombia and one of the leading integrated energy companies in the Americas, employing over 19,000 people. In Colombia, it is responsible for over 60% of hydrocarbon production, and it plays a major role in most transportation, logistics, and hydrocarbon refining systems. The company also holds leading positions in the petrochemicals and gas distribution segments. Through its 51.4% stake in ISA, Ecopetrol is involved in energy transmission, real-time system management (XM), and the Barranquilla – Cartagena coastal highway concession. On an international level, Ecopetrol has interests in strategic basins across the Americas, with drilling and exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, 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.

For more information, please contact:

Head of Capital Markets (a)
Cristhian Prado Castillo
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Head of Corporate Communications
Marcela Ulloa
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SOURCE Ecopetrol S.A.

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