Ecopetrol: 2020 Earnings Distribution Proposal

(Ecopetrol, 23.Feb.2021) — Ecopetrol S.A. hereby informs of the company’s 2020 earnings distribution proposal, approved by its Board of Directors, which will be submitted for the consideration of the General Shareholders Meeting that will take place on 26 March 2021:

The earnings distribution project proposes, in line with the company’s current dividend policy, the distribution of a dividend of $17 pesos per share for 2020, equivalent to a dividend payment of 41.41% of the net income of Ecopetrol for 2020. The proposed payment date will be 22 April 2021 for 100% of the shareholders.

In addition, the company’s Board of Directors is also proposing the allocation of an occasional reserve of up to COP $5,377,359,162,612. The purpose of this occasional reserve would be to provide financial sustainability and flexibility to the company while executing its business strategy.