Ecopetrol Sa · BVC:ECOPETROL
Ecopetrol Sa — 13th BBVA Latin America Conference (June 2024)
19 slides from Ecopetrol Sa's conference presentation, June 2024
Slide 1: Corporate presentation June 2024
Corporate presentation June 2024
Slide 2: Legal disclosure
Legal disclosure 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: Results First Quarter 2024
Results First Quarter 2024
Slide 4: Operational successes: Boosting our traditional business
Operational successes: Boosting our traditional business Production kboed 741 735 728 Commerciality of the Arrecife gas field 719 712 Development activities will commence. Potential 701 estimated at 6.7 million cubic feet of gas. 692 676 Agreement with Parex (50% Ecopetrol) Transportation kbd To exp
Slide 5: Historic growth in profitable production
Historic growth in profitable production 741 735 728 719 Figures in billions 712 of dollars 45 701 80% 692 40 38.9 70% 9 676 8.2 8.0 35 32.5 8 31.3 60% 30 49% 48% 49% 7 46% 46% 45% 43% 50% 46% 45% Promedio 25 6 35% 40% 17.8 5 20 15.9 17.2 15.9 14.6 15.1 3.7 3.6 13.4 14.2 30% 4 15 3 10 7.1 7.4 8.2 20
Slide 6: Ecopetrol Group´s indicators
Financial results reflect Operational Performance, maintaining competitive levels of profitability EBITDA by business segments Investments by business line COP T USD M 1Q23 1Q24 14.2 Colombia 57% 20.0 120 % 8.2 15.9 17.8 U.S. 23% 18.0 12% 100 % 15% 16% Brazil & others 20% 16.0 Trans. & Toll Roads 27
Slide 7: Robust cash position reflecting excellent FEPC management
Robust cash position reflecting excellent FEPC management 1Q23 vs 1Q24 Net income Cash balance COP T COP T Estimated Net income without exchange rate effect: 5.6 COP T 5.6 -3.6 ETR: 0.6 17.3 4.3 1.0 Exchange 36.5% 1.6 6.0 rate: -2.9 14.3 0.3 April 2024: Dividend Payment 2.7 Minority Shareholders:: ~
Slide 8: Upstream maintains its profitability and sustainability, despite challenging context
Upstream maintains its profitability and sustainability, despite challenging context EBITDA per barrel Efficiencies per barrel Ebitda contribution to the GE Upstream Efficiencies (USD/Bl) (USD/Bl) (%) (BCOP) +4% +90% +10% 29.2 0.38 118 28.1 54 337 49 CapEx BCOP 219 EBITDA 0.20 1Q23 1Q24 1Q23 1Q24 1Q
Slide 9: Plan 2024 & Reserves
-ferROL Plan 2024 & Reserves
Slide 10: Reserves
Reserves In 2023, the volumes of proven reserves will remain at the average levels of the last 9 years Balance without external factors * 2,253 1,800 Proven reserves performance 1,565 1,680 1,913 1,985 1,822 1,963 1,941 Average 1880 +1.5 vs 2022 TCF Growth of gas contingent resources leveraged by Uc
Slide 11: 2024 Financial Plan is aligned with the 2040 Strategy
2024 Financial Plan is aligned with the 2040 Strategy and allows progress with a just transition 45% of investments in 2024 oriented towards just transition, seeking to increase Main indicators participation in low emission businesses and invesments along the gas chain Production Refining Energy Sec
Slide 12: Strategy 2040
2040 Strategy
Slide 13: Topics have changed
Confirmation of greater gas potential in the Colombian Caribbean Offshore 66 No hydrocarbon development unconventional reservoirs in Colombia Enhanced recovery outperformance Topics have changed Better results in Permian Capturing value through greater commercial activity ISA´s better performance ve
Slide 14: Grow with energy transition - Hydrocarbons
GROW WITH ENERGY TRANSITION - HYDROCARBONS Efficient portfolio management that maximizes asset’s potential in the long term 800-850 709 750-760 750-800 700-750 Levers • Greenfield Development Current • Accelerate Time-to-market • Maximize value of recovery program Production Recovery • Technology im
Slide 15: Robust Caribbean offshore portfolio
Robust Caribbean offshore portfolio: Potential equivalent to 26 times the Gas reserves and 2.5 times the Country's crude oil reserves Tayrona- Orca In evaluation Domestic market vocation 11 exploratory Potential Volume of COL 6 COL 7 Ultradeep Water Cluster contracts Gross Prospective Resources: Pro
Slide 16: EBITDA growth and greater diversification
COMPETITIVE RETURNS EBITDA growth and greater diversification Competitive returns, capital discipline and cash protection Growth through EBITDA Diversification ($BUSD) 2023 2030 2040 @80 USD/BL1 6% @55 USD/BL 13% 24% EBITDA Margin >40% Hydrocarbons 15% 20% $14 - 17 $17 - 18 $~14 50% Transmission, to
Slide 17: Grow with energy transition – Diversification
GROW WITH ENERGY TRANSITION – DIVERSIFICATION We accelerate the pace of renewables to ensure competitiveness of our portfolio Growing energy requirement of the Ecopetrol Group >1,000 Competitiveness of the MW hydrocarbons business Enabled low emissions 1,000 solutions MW 9.5 TWh-year1 2022 Announced
Slide 18: Capital allocation based on balance and efficiency
COMPETITIVE RETURNS Capital allocation based on balance and efficiency Capital discipline and efficient use of resources Investments by business Differentiated criteria by business segment segment (T COP) Growth in low-emission Transmission and Toll Roads Hydrocarbons investments Discount rates Low
Slide 19: Thank You
Thank You Contact Information Investor Relations investors@ecopetrol.com.co 19
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