Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Partial Distribution of occasional reserve and modification of the dividend payment schedule for the majority shareholder

EC

BOGOTÁ, June 21, 2022 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") announces that, at the Extraordinary General Shareholders' Meeting held on June 17, 2022, the Company's Shareholders approved the modification of the:

Ecopetrol Logo.

i) deadline for the payment of dividends to the Nation, approved in the ordinary session of March 30, 2022, from September 30 to October 31, 2022.

ii) change in the destination of the Company's occasional reserve that had been constituted in the General Shareholder's Meeting held on past March 30, in order to distribute it as an extraordinary dividend of one hundred and sixty-eight Colombian pesos per share (COP$168), as follows:

Occasional Reserve Distribution

Total occasional reserve available:

COP$ 8,889,900,168,629

Number of shares:

41,116,694,690.1959

Value for distribution per share:

COP$ 168

Amount of occasional reserve for distribution

COP $6,907,604,707,953

Value of reserve not distributed:

COP$1,982,295,460,676

The payment of the dividend for minority shareholders will be made in a single installment on June 30, 2022, and for the majority shareholder, the total dividend payment will be offset with the receivable account within the Fuel Price Stabilization Fund (FEPC for its acronym in Spanish) with Ecopetrol S.A. no later than June 30, 2022, in accordance with the provisions of Paragraph 2 of Article 90 of Law 2159 of 2021.

Ecopetrolisthelargestcompany in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 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 distributionsegments.Withtheacquisition 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 press release contains business prospect statements, operating and financial result estimates, and statements related to Ecopetrol's growth prospects. These are all projections and, as such, they are based solely on the expectations of the managers regarding the future of the company and their continued access to capital to finance the company's business plan. The realization of said estimates in the future depends on the behavior of market conditions, regulations, competition, the performance of the Colombian economy my and the industry, among other factors, and are consequently subject to change without prior notice.

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, addressmatters 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,amongothers, 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,theCompany'scompetitiveness and the performance of Colombia's economy and industry, to mention a few.Wedonotintendanddonotassumeanyobligation to update these forward-looking statements.

Formore information, please contact:

HeadofCapital Markets
Tatiana Uribe Benninghoff
Email: investors@ecopetrol.com.co

HeadofCorporate Communications
Mauricio Téllez
Email: mauricio.tellez@ecopetrol.com.co

Cision View original content:https://www.prnewswire.com/news-releases/partial-distribution-of-occasional-reserve-and-modification-of-the-dividend-payment-schedule-for-the-majority-shareholder-301571953.html

SOURCE Ecopetrol S.A.