Slide 1: Corporate Presentation 2025
Corporate Presentation 2025
Slide 2: Legal Disclaimer
Legal Disclaimer Financial Results This document was prepared by Ecopetrol S.A. (the “Company” or “Ecopetrol”) with the purpose of providing the market and interested parties certain financial and other information of the Company. This document may include strategy discussions and forward-looking st
Slide 3: Ecopetrol at a glance
Ecopetrol at a glance We are a leading integrated energy and infrastructure group in LatAm Exploration, Energies for the Energy Transmission Production & Refining Transition and Toll Roads Midstream E&P Telecom 130 years(1) U.S., Gulf of Mexico, and Permian Basin Refining Roads Transmission of joint
Slide 4: The 2040 Strategy: our Long-Term Vision
Ecopetrol Group Strategy The 2040 Strategy: our Long-Term Vision 1 2 Grow with Energy Transition (ET) Generating Value through TESG . Maintain production levels of ~700 to . Annual social investment of ~0.6 750 (mboed) by 2040 TCOP in territories . Acceleration of renewable energy: . 55% reduction i
Slide 5: Fulfillment of the targets defined in the 2025 Plan
Fulfillment of the targets defined in the 2025 Plan Leveraged by disciplined operational and financial execution Production Reserves Renewables Efficiencies mboed RRR1 MW TCOP 740-750 745 ≥100% 121% 900 951 5 6.6 Plan Actual Plan Actual Plan Actual Plan Actual Stronger energy Historic high Greater r
Slide 6: Operational performance supported by a robust investment plan and efficiencies
Operational performance supported by a robust investment plan and efficiencies 6.3 4.6 Production 746 745 BUSD USD/Bl 737 mboed 709 Improvement in crude differential Investments in line with target Target: 740-750 Lowest in four years. +2USD/bl vs 2024 2022 2023 2024 2025 (Target range 5.8-6.7 BUSD)
Slide 7: RRR of 121%, with the highest reserve incorporation of the past four years
RRR of 121%, with the highest reserve incorporation of the past four years Record highs in national and Group crude reserves National Crude Reserves International Reserves National Gas Reserves SEC Price Significant contribution from organic source 9% International 98 300 0 200 83 80 300 0 72 63 69
Slide 8: Progress that strengthens our ESG front
Progress that strengthens our ESG1 front Targets achieved and a firm commitment to the environment and local communities GHG2 reduction 561.454 tCO₂e reduced in 2025 Green hydrogen Production 165% achievement Installation of the largest PEM5 electrolyzer in LatAm, vs. annual target H2 enabling 800 t
Slide 9: Annexes
Annexes
Slide 10: Hydrocarbons
HYDROCARBONS
Slide 11: We continue strengthening our portfolio through exploration successes
We continue strengthening our portfolio through exploration successes and newly commercialized resources Successful Under Evaluation Without Commercial 44% 16 Wells Drilled in 7 Sirius-2 ST2, Currucutu-1, Toritos Sur-3, Toritos Norte-3, Toritos 5 Toritos Oeste-1, Matraquero-1, Infantas 3340, Currucu
Slide 12: Production on target while optimizing investment
Production on target while optimizing investment National crude production at its highest levels in the past 5 years ORGANIC E&P INVESTMENT PLAN PRODUCTION EG (MBOED) 2026 Production International National Crude Gas + National Whites 736,6 745,8 745,3 Enhanced recovery contribution 730-740 MBOED 679
Slide 13: Balanced and robust portfolio of gas opportunities
Caribbean Offshore Balanced and robust portfolio of gas opportunities ~75 TCF ~6 -12 TCF Challenges and drivers Potential volume of gross Discovered gross prospective resources recoverable volume • Coordination with institutions to meet schedules for environmental licenses and prior consultations Or
Slide 14: Sirius - Our Strategic Offshore
Sirius - Our Strategic Offshore Environmental instruments for the Sirius development 1 Production ∼6TCF Field Gas volume 2 Underwater line “in-situ” Share of participation 3 Beach crossing 55.56% Discoveries Gas pipeline Buena Suerte -1 Petrobreas-Sep2024 route Sirius-1 Papayuela-1 2 3 4 Fields Gua
Slide 15: 2025 key onshore projects
Colombia onshore 2025 key onshore projects Mitigates production decline and contributes to oil and gas reserves incorporation Maximizing asset value • Drilling of development Chichimene Field • Improved recovery wells 90000 200 • Optimization of • Completion of operating pressure 80000 Orotoy facili
Slide 16: Outstanding financial and operational results that strengthen our sustainability
Outstanding financial and operational results that strengthen our sustainability MIDSTREAM DOWNSTREAM One of the highest annual EBITDA levels in the segment’s history One of the highest annual throughputs in the segment’s history, (24% contribution to the Ecopetrol Group) leveraging a favorable pric
Slide 17: Operational efficiency drives value maximization and mitigates cost and exchange-rate pressures
Operational efficiency drives value maximization and mitigates cost and exchange-rate pressures TOTAL UNIT HYDROCARBON COST LIFTING COST BREAKDOWN Synergies in crude purchasing and strict cost-execution discipline USD/Bl -0.35 enabled a 4% reduction in 2025 (-3%) 0.09 (+1%) 0.01 0.00 -28,357 -0.36 -
Slide 18: Energies for the Transition
ENERGIES FOR THE TRANSITION
Slide 19: Strategic initiatives that expand the portfolio and strengthen the gas offering
Strategic initiatives that expand the portfolio, generate value for the Group, and strengthen the gas offering 249 Joint Commercialization of Sirius Gas Natural gas sold to third parties under firm and Gbtud (Petrobras and Ecopetrol)1, starting in subject to conditions contracts (2025-2027)2 Nationa
Slide 20: Renewables target exceeded, with the addition of 951 MW
Renewables target exceeded, with the addition of 951 MW Windpeshi (FID) 205 MW Ecopetrol´s Group Electrical Supply Cartagena Refinery 22,1 MW In Operation Operational in testing/construction El Copey Execution 92% coverage of electricity demand(self- 8,8 MW generation + contracts) Caucasia 2025 6,7
Slide 21: Energy Efficiencies Social Gas
Energy Efficiencies Social Gas 24.8 PJ accumulated since 2018, thus achieving 99% of the 2030 target +114,000 Accumulated natural gas 2025 connections by 2025 4.79 PJ 39,122 Vs anual target of 2,94 PJ Benefited families from socioeconomic strata 1 and 2 in 2025 +182 BCOP Savings in GE 21 Departments
Slide 22: Financial Performance
FINANCIAL PERFORMANCE
Slide 23: Financial discipline supported the execution of the 2025 Plan
Financial discipline supported the execution of the 2025 Plan EBITDA by segment Indicators EBITDA increased 20% vs. 2024 Exploration and Total shareholder return1 EBITDA margin 19% Production* Midstream 2025 6% 46.7 51% Downstream 24% 39% 39% TCOP Stock ADR´s Hydrocarbons contributed 81% of EBITDA 2
Slide 24: 2025 Results
2025 Results Higher crude production, efficiency gains, and commercial strategy in an environment of lower prices, new taxes, and external challenges Net income 2025 vs. 2024 External factors TCOP External factors Net income -5.6 14.6 14.9 -1.6 Net income excluding -7.2 external factors 56% CPO09 pu
Slide 25: Optimization of cost structure, operational flexibility, and financial management
Optimization of cost structure, operational flexibility, and financial management focused on protecting cash flow in 2026 2025 Ecopetrol Group cash Flow1 Cash Flow highlights 2025 2026 TCOP Early collection of 2024 Collection/settlement of FEPC receivables: 7.7 TCOP 2025 balance: ~3 TCOP 33 Taxes of
Slide 26: A Sustainable Debt Structure
A Sustainable Debt Structure Ecopetrol S.A. maturity profile (MUSD) Average life 8.3 years Consolidation of the 2025 financing strategy: 3.083 ✓ Controlled maturity profile ✓ Healthy leverage levels 2.453 ✓ Strengthened liquidity 1.703 660 599 412 2026 2027 2028 2029 2030 2031 International Bonds Lo
Slide 27: 2026 Investment Plan Targets
2026 Investment Plan Focus on business fundamentals Investment allocation Assumptions Brent 60 US/Bl Exchange rate $ 4,050 Yearly average Yearly average Midstream Exploration and Production 6% Downstream Targets 7% Production Transport Refining 5.4 – 6.7 Trans. & Toll roads 730-740 mboed 1,110-1,120
Slide 28: 2026: Strategic focus to grow with discipline
2026: Strategic focus to grow with discipline 2026 Projections and Strategic Challenges Gas: national priority, Active working-capital corporate priority management Acceleration of key projects Optimization of inventories Continuous exploration and accounts receivable Diversification of supply sourc
Slide 29: Progress that strengthens our ESG front
Progress that strengthens our ESG1 front Targets achieved and a firm commitment to the environment and local communities GHG2 reduction 561.454 tCO₂e reduced in 2025 Green hydrogen Production 165% achievement Installation of the largest PEM5 electrolyzer in LatAm, vs. annual target H2 enabling 800 t