Ecopetrol Sa · BVC:ECOPETROL
Ecopetrol Sa — Investor Presentation (June 2023)
16 slides from Ecopetrol Sa's investor presentation, June 2023
Slide 1: Investor Presentation June 2023
Investor Presentation June 2023
Slide 2: Legal disclosure
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
Slide 3: Ecopetrol is today a diversified energy group
Ecopetrol is today a diversified energy group Leader in LATAM First green H2 pilot IPCC* completion 2040 strategy 3 SOLID BUSINESS LINES “Energy that transforms” 2022 LOW-EMISSION TRANSMISSION AND HYDROCARBONS SOLUTIONS TOLL ROADS ISA acquisition Singapore trading Energy transmitter #1 in Colombia #
Slide 4: Record results, beyond the financials
Record results, beyond the financials 45 55 72 64 43 71 99 98 82 14.5% 17.8% 38.9 COP T 159.5 13.6% 32.5 13.1% 14.3% 8.6% 18.8% 2.7% 3.7% 91.7 70.8 75.2 17.8 67.8 15.9 55.2 50.0 47.7 42.0 30.8 31.1 33.4 23.1 6.6 5.7 18.0 13.3 16.8 16.7 6.6 11.6 38% 1.6 42% 45% 44% 34% 1.7 46% 47% 49% 46% 2016 2016 2
Slide 5: 6,500-8,500 MUS$ O&G Annual EBITDA by 2040
** 5 **6,500 -8,500 MUS$ O&G Annual EBITDA by 2040 5
Slide 6: Highest oil and gas reserves of the past 8 years
IN 2022, AT 2,011 MBOE, THE ECOPETROL GROUP ACHIEVED THE HIGHEST OIL AND GAS RESERVES OF THE PAST 8 YEARS ac \ Exceeding Reserve 104% > 100% 2022 Replacement target Ratio °, Average over 130 % the past 5 years Timeline of proven reserves 215 2015- 2022 (MBOEF) MBOE 2,011 ‘Stgenle 2,002 arswt 1,849 4
Slide 7: Offshore Caribbean Gas Potential
Exploration Offshore Caribbean Gas Potential 11 offshore • Gas investments ~ Gas potential exploratory USD 530 million in upside: COL 7 Orca-1 contracts COL 6 (2014) GUA 2022* OFF 1 TAYRONA (Only 28% of the 70 – 100 TCF ORCA area) • Planned investments COL 1 of USD 2.4 – 2.7 (Net Ecopetrol) billion
Slide 8: Outstanding production performance
Production Outstanding production performance Outstanding contribution from Permian Production (mboed) Permian average monthly production ECP before royalties (mboed) 57.4 55.7 704.6 720.5 720.1 719.4 709.5 720 - 725 692.2 166.7 175.2 166.1 171.7 167.6 162.5 Percentage of crude oil ~ 60 - 70% 25.9 2
Slide 9: Profitable growth in low emissions
Low Emission Solutions Profitable growth in low emissions New Energies Gas and LPG production EG Main gas (mboed) findings: +15% Solar Rubiales Solar farm (100 MW): Signed agreement Gorgon-2 160.2 150 162 with Total Eren for construction 141 (Ultra Deep KBED Emissions reduction : 6.417 tCO2 (+127% v
Slide 10: On the path to profitable growth
Transmission and Toll Roads On the path to profitable growth BUSINESS LINE CONTRIBUTION 1T23 (COP T)* OPERATING MILESTONES GE without Transmission and Toll Roads Transmission and Toll Roads Contribution Award of 13 red extensions in Total Ecopetrol Group Brazil and 8 connections in Brazil, Colombia
Slide 11: Outstanding results despite changes in market environment
Outstanding results despite changes in market environment Ecopetrol Group’s Indicators 1Q23 ROACE1 EBITDA Margin2 EBITDA by Business Line Hydrocarbons Transmission and Toll Roads 18.8% 17.8% Low-Emissions Solutions 49.0% 45.9% 14.5% 40.3% 6% 5% 7% 12% 12% 15% 82% 83% 78% 1Q22 4Q22 1Q23 1Q22 4Q22 1Q2
Slide 12: Strong financials aligned with investment grade
Strong financials aligned with investment grade* Cash Balance (COP T) 2023 Debt Management (USD M) 4,523 ECA 2.1 5.2 Intl. Credits 18.1 0.7 USD 2.2 0.2 17.7 Intl. Bonds 2,860 M Local Bonds 1,663 USD 2,000 M international bond issuance Balance Operating Capex Debt Dividend Exchange Balance 1Q22 1Q23
Slide 13: 2023 financial and investment Plan geared towards energy transition and value creation
The 2023 financial and investment Plan is geared towards the energy transition and value creation 40% of the investments in 2023 are oriented The Ecopetrol Group allocates resources from towards the energy transition the 2023 Plan in its commitment to TESG Climate Change Use energy and Energy Gas an
Slide 14: TESG in support of long-term value creation
TESG in support of long-term value creation Strategic 1Q23 Results 2023 Ta r g e t Commitments Plan Real Projection T SCIENCE, TECHNOLOGY AND INNOVATION ST+i Value Generation (USD M) 168.3 176.9 2,9501 TESG accelerator CLIMATE CHANGE Cumulative GHG reduction against 2019 baseline (MtCO2e) -0.97 -0.9
Slide 15: Contact Information
Contact Information: investors@ecopetrol.com.co 15
Slide 16: Ecopetrol Group's resources and reserves progression
Ecopetrol Group’s resources and reserves progression More uncertainty @ Seismic acquisition / reprocessing Prospective resources +6.000 *MBOE Offshore and onshore blocks ‘Potential upside of gas 70 - 100 TCF (Net Ecopetrol } Exploration Exploratory wells Discovered resources! Include, among others U