Slide 1: Financial Results 3rd Quarter 2024
FINANCIAL RESULTS 3RD Quarter /2024 Chuchupa Gas well
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: Presenters
Ricardo Roa Rafael Guzmán David Riaño Camilo Barco Executive VP of Executive VP Energies for Chief Executive Officer Chief Financial Officer Hydrocarbons (A) the Transition
Slide 4: Consolidated growth in our operational results
Consolidated growth in our operational results Upstream kboed Highest Production Level in the Last 9 years 752 • Commissioning of the Orotoy station 723 730 • Sirius-2: confirmed potential in the offshore Caribbean, operations 715 716 698 706 continue due to a favorable ruling 674 Midstream kbd 1,15
Slide 5: Financial results continue over historic levels
Financial results continue over historic levels 752 Quarterly 730 Results 3Q-2024 715 716 723 706 Financial Milestones 698 674 Production kboed 102 82 82 40 35.1 34.6 1,047 kboed 73 35 Historical quarterly sales, 65 68 53 30 maintaining a single-digit 43 119.8 25 crude differential Brent USD/Bl 20 1
Slide 6: We maintain our commitment to TESG
We maintain our commitment to TESG Environmental Social ST+i Governance We reduced We invested We implemented Competent 253,000 tCO2e +341 B COP3 +100 Management team of greenhouse gas emissions Digital solutions that promote with extensive experience for Sustainable Territorial 97% progress towards
Slide 7: Hydrocarbons
Hydrocarbons
Slide 8: Advancing in the development of the exploratory portfolio
Advancing in the development of the exploratory portfolio Exploratory investment 9M24 (+18% 9M23) USD 330 Millions Sirius-2ST Sirius-2 Successful wells 10 Drilled Wells 2024 Campaign Wells under evaluation Wells to be drilled 2024 Gas target #WELLS STATUS Well location 1 Success 0 50 100 Km 200 Seis
Slide 9: Caribbean Offshore
Caribbean Offshore Orca A balanced and robust portfolio of gas opportunities Results under evaluation Orca Norte-1 COL 7 COL 6 Potential Volume of Gross Ultra-deepwater Cluster GUA-OFF-1 ORCA Orca Norte-1 (2023) COL 1 Orca-1 (2014) Prospective Resources Komodo-X1 GUA-OFF-0 COL 2 ~75 TCF Buena Suerte
Slide 10: 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 11: Exceeding production expectations
Exceeding production expectations Ecopetrol Group Production [KBOED] International National Crude National Gas 706 730 752 674 148 137 143 156 kboed 516 512 Orotoy station2 +5 thousand barrels 502 508 First start-up entry Oct/2024 additional Nov. and Dec. 2024 Definitive entrance 1S25 +11 kboed 2025
Slide 12: Successful management of operational and environmental challenges
Successful management of operational and environmental challenges Transported Volumes (kbd) Monobuoy SPM¹ Valeria Products Crude • Strategic asset for the Nation . +21.1 (+1.9%) • Investment 26.6 MUSD 1,086 1,103 1,150 1,105 1,126 • Vessel's acceptance 120 Kton 1,014 1,064 993 274 273 303 267 220 29
Slide 13: Increase in throughputs despite challenging environment
Increase in throughputs despite challenging environment Gross Refining Margin and Integrated Throughput EBITDA Downstream 13.8% ✓ 75% Products spreads 11.4% 11.2% 21.3 7.4% 6.7% 10.0 10.0 19.1 ✓ 14% Scheduled maintenance 6.5% 3.9% 3.9% 500 25. 0 2.8% 9.0 9.0 9.0% 9.0% ✓ 9% Environment situations 11.
Slide 14: Achieved efficiencies continue to mitigate rising costs
Achieved efficiencies continue to mitigate rising costs 1S-2023 Hydrocarbon Efficiencies 9M-2024 Total Cost Costo per Total Unit1 Unitario¹ Efficiencies by segment Efficiencies per lever Efficiencies Progress (USD/Bl) 46.83 47.32 1.28 -0.79 (MMCOP) 2024 vs. 2026 Goal 7% 100% 17.28 17.78 3% 24% 3.2 T
Slide 15: Energies for the Transition
Energies for the Transition
Slide 16: Commitment to natural gas supply efficiency
Commitment to natural gas supply efficiency Ecopetrol´s contribution Results 9M24 2024 2025 2026 Dec: agreements for regasification services and 551 GBTUD¹ 65% of demand 370 GBTUD¹ 43% of demand 173 kboed Gas and LPG³ production supply of quantities 9M24 vs 161 kboed 9M23 2,165 Ecopetrol additional
Slide 17: Transmission, Roads and Telecommunications
Transmission, Roads and Telecommunications
Slide 18: ISA's historical contribution to the Group Ecopetrol results
ISA's historical contribution to the Group Ecopetrol results Transmission and Toll Roads Financial results 9M24 (COP Millions*) 9M2024 vs. +8% 9M2023 9M2024 vs. +7% 9M2023 11,491 7,511 12% 677 684 10,612 18% 7,036 6% 10% 5% 15% 9,581 6,464 539 8% 11% 2% 9M2022 9M 2023 9M 2024 9M2022 9M 2023 9M 2024
Slide 19: Financial Performance
Financial Performance
Slide 20: Strengthened liquidity position due to successful management of the FEPC
Strengthened liquidity position due to successful management of the FEPC Strong liquidity position of the Ecopetrol Group* Evolution of FEPC balance TCOP TCOP 35.5 26.3 20.5 -16.2 3.8 18.8 14.3 -14.9 7.8 9.0 -3.6 2021 2022 2023 sep-24* * Includes the 2.8 TCOP pending payment from 2023 plus what has
Slide 21: Outstanding financial results
Outstanding financial results Net income 9M-2024 Vs 9M-2023 EBITDA by business segments TCOP +10% EBITDA TCOP 48.5 42.3 External factors 14.8 16.4 Exchange rate 3.5 15% 18% Trans. & toll roads 19% 5.32 20% Midstream 15% 5% Price 1.2 Downstream 58% Impact of 52% 11.04 external factors: E&P* Inflation
Slide 22: Continued execution of the 2024 Investment Plan
Continued execution of the 2024 Investment Plan Investments Ecopetrol Group Investments by business line 4,352 USD Millions 4,062 3,675 19% 9M 4,062 2,317 2,213 2024 14% MUSD 1,798 1,818 1,399 67% Hydrocarbons Energies for the transition Trans. & toll roads 9M-2017 9M-2018 9M-2019 9M-2020 9M- 2021 9
Slide 23: Successful refinancing strategy strengthens us for the future
Successful refinancing strategy strengthens us for the future USD Billions Ecopetrol S.A debt maturity profile 2.7 2.1 1.2 Debt management operation 2026 1.5 0.8 0.6 0.1 1.5 0.4 0.2 0.6 0.6 0.7 0.0 0.2 2024 2025 2026 2027 2028 2029 Short term credits Long term credits Bonds Financing operations duri
Slide 24: In Conclusion
In Conclusion The operational and financial figures accumulated up to September enhance the achievement of the financial plan for 2024 We expect the accumulation of the There has been a quick and successful FEPC for 2024 to be ~63% lower than management response to operational that of 2023 (around 8
Slide 25: Q&A
ocopavr GR OUP Q&A