Ecopetrol S.A.: Call for General Shareholders' Meeting - Ensuring Shareholder Representation and Transparency

Ecopetrol S.A., Colombia's largest integrated energy company, has announced measures to ensure proper shareholder representation at the upcoming Ordinary General Shareholders' Meeting on March 28, 2025. These measures, approved by the company's Board of Directors, aim to promote transparency, accountability, and shareholder engagement. As an investor, I applaud Ecopetrol's commitment to best practices in corporate governance.

Firstly, Ecopetrol has informed shareholders about their proxy representation rights and the legal requirements of the powers of attorney granted for such purpose. This proactive approach ensures that shareholders are aware of their rights and the process involved in appointing a proxy. By doing so, Ecopetrol fosters an informed and engaged shareholder base, which is crucial for effective decision-making.

Secondly, the company has instructed those responsible for verifying the powers of attorney granted by the shareholders to ensure that they comply with the minimum requirements established by law. This measure helps prevent invalid proxy assignments and ensures that only legitimate proxies are admitted. By implementing this measure, Ecopetrol demonstrates its commitment to maintaining the integrity of the proxy representation process.

Thirdly, Ecopetrol has prohibited company administrators and employees from influencing shareholder votes or suggesting representatives. This measure helps maintain the independence and integrity of the voting process. By preventing internal influence, Ecopetrol ensures that shareholder votes are based on the shareholders' best interests, rather than the interests of the company's management.

Fourthly, Ecopetrol has restricted proxy grants to those linked to administration or employees, further ensuring the independence of the proxy representation process. This measure helps prevent conflicts of interest and ensures that proxy representation is aligned with the shareholders' best interests.

Fifthly, Ecopetrol has designated the Legal Vice-Presidency as the area responsible for the process of reviewing and verifying the powers of attorney. This ensures that the review and verification process is conducted by a competent and independent body. By entrusting this responsibility to the Legal Vice-Presidency, Ecopetrol demonstrates its commitment to transparency and accountability.

Lastly, Ecopetrol has tasked the Vice-Presidency of Corporate Affairs and General Secretary with ensuring the implementation and compliance with the above measures. This helps ensure that the measures are effectively enforced and that shareholders' interests are protected. By doing so, Ecopetrol demonstrates its commitment to shareholder engagement and effective corporate governance.