Slide 1: Results
acopayfer GROUP
Slide 2: Legal Disclosure
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 statements regarding the probable dev
Slide 3: Speakers
Speakers Felipe Bayón Jaime Caballero Alberto Consuegra Yeimy Báez CEO CFO COO VP. of Low-Emission Solutions 3
Slide 4: Best quarter and semester in Ecopetrol's history
Best quarter and semester in Ecopetrol´s history 755 761 718 715 720 725 697 679 705 698 99 54 45 55 72 64 43 71 112 105 91.7 76.4 67.8 70.8 66.0 52.1 55.2 47.7 50.0 42.0 43.9 38.1 30.8 31.1 24.5 23.1 22.2 18.1 18.0 16.8 16.7 17.0 13.3 37% 35% 38% 42% 6.6 45% 44% 34% 46% 10.5 50% 51% 11.6 1.7 5.7 -4
Slide 5: Strategic milestones
Strategic milestones GROWTH WITH TRANSITION • Success in exploration Uchuva-1 well COMPETITIVE RETURNS • Historic results in Downstream • Highest historic dividend • Production recovery and greater COP 448 per share investment execution • FEPC Payment agreement as of • Expansion in Permian operation
Slide 6: Navigating a highly volatile market
Navigating a highly volatile market Key work fronts Commercial management • Long-term agreements for drilling and workover rigs (14 by 2023 and 4 by 2024) Price basket US$/Bl** Proactive supply 135.3 chain • Critical inventory procurement (>70% assured) 105.2 management 112.0 77.4 • Contract managem
Slide 7: ISA's outstanding contribution
Energy Transmission and Toll Roads ISA´s outstanding contribution Ongoing Growth Business Contribution 1H22 TCOP • 2 transmission projects awarded (Brazil) 76.4 +1,100 km | ANEEL Auction 6.0 38.1 4.2 17.04 0.57 ISA Construction 70.4 GE ex-ISA 33 projects 9 projects 33.9 16.48 Connection to 36.7 Tran
Slide 8: Strengthening key components of our DNA
Low Emission Solutions Strengthening key components of our DNA 254 H2 Gas and LPG EBITDA +14 MUSD 2Q22 Energy Production % Gas and LPG* (+34% vs 2Q21) 57 vs 2QT21 2Q2022 EBITDA % Renewables Gas and LPG 30% - 50% Margin (+3% vs 2Q21) 2Q22 Participation in EBITDA CCUS** from low-emission Gas and LPG s
Slide 9: Operating Results
OPERATING RESULTS
Slide 10: Contributing to Colombia's energy security
Exploration Contributing to Colombia's energy security New exploratory areas 40% Exploratory success in the Caribbean offshore 60% Operator COL 6 COL 7 Uchuva-1 COL 1 COL 2 • New gas frontier in the 55.6% Operator northern Colombian Caribbean 44.4% UCHUVA-1** • Greater possibilities for U.S.A. CHINC
Slide 11: On the path to growth
Production and Reserves Producción On the path to growth PRODUCTION Gas + White Products mboed Crude Gas and NGL´s 692.1 704.6 700 - 705 6.8 3.3 2.4 163.0 167.5 24% GE Production 698.9 702.2 529.1 537.1 Recovery 1T22 1Q22 Desempeño Performance Gas Gas Filiales Subsidiaries 2T22 2Q22 Meta 2022 Target
Slide 12: Expansion of Ecopetrol's operation in the Permian
Production and Reserves Expansion of Ecopetrol's operation in the Permian 1H21 1H22 Operation aligned with TESG objectives 26.8 Production MBPED 13.8 Zero 36% +43% 25 (Net before royalties) Routine Volume of diesel replaced by vs.1H21 secondees EBITDA MUSD 74 253 flaring compressed natural gas Volum
Slide 13: Growth aligned with economic recovery
Midstream Growth aligned with economic recovery Transported volume (mbd) +12.2% 1,012 1,049 1,041 1,077 4 billion barrels 100 trillion 960 pesos of operating income 290 284 298 of hydrocarbons transported 256 288 704 724 759 757 779 9,000 km 1,000 people of pipelines in the work teams 2Q21 2T21 3Q22
Slide 14: Operational excellence amidst a high-margin environment
Downstream Operational excellence amidst a high-margin environment Refineries Operational Availability (%) Downstream EBITDA and Gross Refining Margin and Cartagena Refinery Integrated Throughput 20.5% 14.8% 15.1% 8.5% 7.9% 5.2% 29.0 96.2 96.4 9.6% 95.5 92.9 2.0% 7.4% 12.5 13.9 1,573 9.5 9.0 90.2 0.
Slide 15: Focus on efficiencies enables higher profitability
Costs Focus on efficiencies enables higher profitability EFFICIENCIES EFFICIENCIES 1H22 2015 – 1H22 COP ~1.0 T COP T ▪ Comprehensive strategy 0.4 0.7 11% focused on 3.0 49% confronting inflationary 2.7 3.4 40% effects 2.8 20.0 ▪ Efficiencies have 2.6 mitigated the impact of 2.3 2.2 inflation on OPEX
Slide 16: Financial Results
FINANCIAL RESULTS
Slide 17: Exceeding financial results
Exceeding financial results O&G KPIs ISA KPIs Ecopetrol Group KPIs EBITDA/Bl EBITDA Margin1 EBITDA Margen EBITDA by segment 68.6 USD/Bl 69.9% 49.9% (%) 68.6 48.1% 49.9% 5% 5% 9% 11% 45.7% 49.6 25% 14% 42.4 40.2 75.3% 76.1% 33.7% 55% 55% 13% 27.6% 71.2% 17.9 69.6% 65% 62% 40% 40% 2020 2021 1S21 1H21
Slide 18: Disciplined financial management
Disciplined financial management Capital Discipline Cash Protection The transformation of our portfolio and changes in market COP T conditions require us to adapt our capital discipline 6.2 4.6 Now More flexible, agile and Energy 1.7 dynamic guidelines, Traditional Transition 5.7 O&G Solutions 6.8 l
Slide 19: Record investment execution
Record investment execution Value-focused diversification Highest level of CAPEX in recent years %participation by geography USD Millions USA Local International 2,229 18% YTD 1,393 735 1,009 63 1,319 1,373 67% PERU BRAZIL 77 470 425 4% 8% 1,330 1,494 932 849 948 CHILE 2% OTHERS 1H18 1H19 1H20 1H21
Slide 20: TESG
TESG
Slide 21: Progress in TESG fronts
Progress in TESG fronts ENVIRONMENTAL DECARBONIZATION WATER NEUTRALITY GHG Emissions in Colombia 6.8% 3.5% IPPU* Waste % of reused water required to operate** 90% Reuse 30.7% 59.1% Ecopetrol's GHG emissions Energy 303 Agriculture, forestry (Scope 1 and 2) correspond Millions of and other land uses W
Slide 22: Progress in TESG fronts
Progress in TESG fronts SOCIAL CORPORATE GOVERNANCE Ecopetrol Group achieved the lowest Territories Development Ecopetrol is a benchmark in good corporate governance practices TRIF* in its history ~163 71/100 Corporate Ecopetrol in the TOP 10 most 2nd place as a leading COP B Governance Rating respo
Slide 23: Historical results
Historical results Energy security hand-in-hand with the transition Delivering 22-24 Plan and 2040 Strategy Proactive management of challenges and opportunities in the new environment 23
Slide 24: Q&A
Q&A ecoprpe GROUP
Slide 25: crue ae
crue ae ecoPpe