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    Decisions Adopted at the Shareholders' Meeting of March 28, 2025

    3/31/25 1:52:00 AM ET
    $EC
    Oil & Gas Production
    Energy
    Get the next $EC alert in real time by email

    BOGOTA, Colombia, March 31, 2025 /PRNewswire/ -- Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) informs that during the ordinary General Shareholders' Meeting held on March 28, 2025, which was duly convened in accordance with the legal and statutory requirements applicable to the Company, the shareholders cast their votes on each of the below items on the agenda:

    (PRNewsfoto/Ecopetrol S.A.)

    • Approval of the agenda

    The proposed agenda for the meeting was approved.

    • Appointment of the Chair of the Meeting

    Mr. Guillermo García Realpe, Chair of the Board of Directors, was appointed as Chair of the Meeting.

    • Appointment of the Elections and Voting Committee of the Shareholders' Meeting

    The Elections and Voting Committee of the General Shareholders' Meeting was appointed as proposed by shareholder Edisson Forero.

    • Appointment of the Committee for the Review and Approval of the Minutes of the General Shareholders' Meeting

    The Committee for the Review and Approval of the Minutes of the General Shareholders' Meeting was appointed as proposed by Sandra Serna.

    • Presentation and assessment of the report prepared by Ecopetrol's Board of Directors on its performance, development, and compliance with the Code of Good Governance

    The Chair of the Corporate Governance and Sustainability Committee, Dr. Ángela María Robledo, presented the summary of the report on the development of, and compliance with, the Code of Good Governance, which was approved by the Shareholders' Meeting.

    Additionally, the Report is included in the 2024 Integrated Management Report.

    • Presentation and assessment of the 2024 Integrated Management Report

    The report was presented by the President of Ecopetrol and was approved by the shareholders. It is available for consultation on the corporate website:

    https://www.ecopetrol.com.co/wps/wcm/connect/ea5f733b-92f0-430a-9ebd-7781d755ffb5/1.+Informe+Integrado+de+Gesti%C3%B3n+del+a%C3%B1o+2024.pdf?MOD=AJPERES&CVID=plEvDCl

    • Presentation and deliberation concerning the audited individual and consolidated financial statements as of December 31, 2024

    The financial statements were approved by the shareholders and are available for review on the corporate website:

    https://www.ecopetrol.com.co/wps/wcm/connect/5669121f-132b-4fb0-bf2b-aeaa0a053a3f/3.+Estados+financieros+consolidados+a+diciembre+31+de+2024.pdf?MOD=AJPERES&CVID=plEFTRF

    Additionally, the individual and consolidated financial statements are included in the 2024 Integrated Management Report.

    • Reading of the statutory auditor's opinion

    The statutory auditor proceeded to read their opinion.

    • Presentation and approval of the profit distribution proposal for Ecopetrol shareholders

    Shareholders approved the distribution of profits corresponding to an ordinary dividend of two hundred fourteen pesos (COP $214) per share. As approved, the payment of this dividend will be made to minority shareholders in two equal installments, payable on April 4 and April 29, 2025. Additionally, the highest corporate body approved that the dividend payment to the majority shareholder be made in three installments as follows: 1) COP $2,200,000,000,000 on April 4, 2025, 2) COP $2,300,000,000,000 on April 29, 2025, and 3) COP $3,286,344,378,880 on June 27, 2025.

    • Election of the statutory auditor for the 2025–2029 period and approval of their fees

    Shareholders approved the following:

    To appoint the firm Deloitte & Touche S.A.S., identified with Tax ID No. 860.005.813-4, as the Statutory Auditor of Ecopetrol S.A. for fiscal years 2025, 2026, 2027, and 2028, with fees for 2025 equal to COP $4,565,200,000 plus VAT. For the years 2026 through 2028, fees will be adjusted to the annual inflation rate for the immediately preceding year, and will also include VAT. The firm will be responsible for appointing the individuals who will serve as principal and alternate statutory auditors, respectively.

    The agreement with Deloitte & Touche S.A.S. is expected to be executed during April 2025, while the Statutory Audit and External Audit contract executed with the firm ERNST & YOUNG AUDIT S.A.S., Tax ID No. 860.008.890-5, will end on May 27, 2025.

    • Election of the members of Ecopetrol's Board of Directors for the 2025–2029 term

    The election of the members of the Board of Directors for the 2025–2029 term, as approved by shareholders gathered at the General Shareholders' Meeting, is transcribed below:

    Line

    Name

    Quality

    First

    Ángela María Robledo Gómez

    Independent

    Second

    Mónica De Greiff Lindo

    Independent

    Third

    Guillermo García Realpe

    Independent

    Fourth

    Álvaro Torres Macias 

    Independent

    Fifth

    Lilia Tatiana Roa Avendaño

    Not  Independent

    Sixth

    Alberto José Merlano Alcocer

    Not  Independent

    Seventh

    Hildebrando Vélez Galeano

    Not  Independent

    Eighth

    Ricardo Rodríguez Yee

    Independent

    Ninth

    Luis Felipe Henao Cardona

    Independent

    • Review and approval of an amendment to the internal regulations of the General Shareholders' Meeting

    Shareholders approved the amendment to its internal regulations.

    • Review and approval of the Board of Directors' Succession Policy

    Shareholders approved the Succession Policy for the members of the Board of Directors as proposed by Ecopetrol.

    The shareholders cast their votes on each of the items on the agenda as follows:

    Matter Submitted for

    consideration of the

    Shareholder´ Meeting

    Agenda

    Proposed by

    Ecopetrol

    Agenda with

    additions

    proposed by

    participating

    shareholders

    Abstention

    Blank Votes

    Approval of the agenda

    99.79 %

    0.02 %

    0.19 %

    0.00 %

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Votes in

    favor

    Votes againts

    Blank

    Votes

    Abstention

    Appointment of the Chair

    of the Shareholders'

    Meeting

    100.00 %

    0.00 %

    0.00 %

    0.00 %

    Appointment of the

    Elections and Voting

    Committee

    100.00 %

    0.00 %

    0.00 %

    0.00 %

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Committee

    proposed by

    Sandra

    Serna

    Committee

    proposed by

    Carlos Molano

    Blank

    Votes

    Abstention

    Appointment of the

    Committee for the

    Review and Approval of

    the Minutes of the

    General Shareholders'

    Meeting

    91.72 %

    4.26 %

    0.00 %

    4.02 %

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Votes in

    favor

    Votes againts

    Blank

    Votes

    Abstention

    Approval of the Board of

    Directors' Report on its

    Performance,

    Development, and

    Compliance with the

    Code of Good

    Governance

    96.02 %

    3.98 %

    0.00 %

    0.00 %

    Approval of the 2024

    Integrated Management

    Report

    96.01 %

    3.95 %

    0.00 %

    0.04 %

    Approval of the Audited

    Individual and

    Consolidated Financial

    Statements

    100.00 %

    0.00 %

    0.00 %

    0.00 %

     

    Matter Submitted

    for

    Consideration by

    the

    Shareholders'

    Meeting

    Majority

    Shareholder's

    Proposal

    Ecopetrol

    Proposal

    Abstention

    Single

    payment on

    April 4

    Distribution

    40%

    Net Income

    Reinvestmemt

    Presentation and

    Approval of the

    Profit Distribution

    Proposal for

    Ecopetrol

    Shareholders

    91.75 %

    8.18 %

    0.07 %

    0.00 %

    0.00 %

    0.00 %

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Votes in

    favor

    Votes againts

    Blank

    Votes

    Abstention

    Election of the Statutory

    Auditor

    100.00 %

    0.00 %

    0.00 %

    0.00 %

    Election of the Members

    of the Board of Directors

    for the 2025–2029 Term

    and Approval of their Fees

    95.69 %

    2.53 %

    0.00 %

    1.78 %

    Review and Approval of

    the Amendment to the

    Internal Regulations of

    the General

    Shareholders' Meeting

    99.46 %

    0.54 %

    0.00 %

    0.00 %

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Ecopetrol

    Proposal

    Felipe Cuberos

    Proposal

    Blank

    Votes

    Abstention

    Review and Approval of

    the Succession Policy for

    the Members of the

    Board of Directors

    95.70 %

    4.25 %

    0.00 %

    0.05 %

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Proposal for statutory amendment submitted by Felipe Cuberos in his

    capacity as proxy for the pension and severance funds

    Proposals and

    Miscellaneous

    7.68% in favor

    91.81% against

    0.51% abstention

    0.00% blank votes

     

    Matter Submitted for

    Consideration by the

    Shareholders' Meeting

    Proposal to call an extraordinary shareholders' meeting to consider a

    statutory amendment aimed at establishing that one seat on the Board of

    Directors must be held by an Ecopetrol employee

    Proposals and

    Miscellaneous

    95.17% in favor

    0.07% against

    4.76% abstention

    Note: The figures included in the table do not reflect all decimal places. Final numbers, including decimal places, will be included in the final text of the minutes of the meeting.

    Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. 

    This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. 

    For more information, please contact:

    Head of Capital Markets

    Carolina Tovar Aragón

    Email: [email protected] 

    Head of Corporate Communications (Colombia)

    Marcela Ulloa

    Email: [email protected] 

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/decisions-adopted-at-the-shareholders-meeting-of-march-28-2025-302415308.html

    SOURCE Ecopetrol S.A.

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