Ecopetrol Bolsters Shareholder Representation Ahead of March 28 Meeting

Ecopetrol S.A. (NYSE: EC), Colombia's largest integrated energy company, has taken significant steps to ensure the adequate representation of its shareholders at the upcoming Ordinary General Shareholders' Meeting on March 28, 2025. The company's Board of Directors approved a series of measures aimed at promoting transparency, preventing undue influence, and enhancing the overall voting process.

The implemented measures include:

1. Informing Shareholders of Proxy Rights: Ecopetrol will inform shareholders of their right to be represented through the appointment of a proxy and indicate the legal requirements of the proxies to be granted for such purpose. This ensures that shareholders are aware of their rights and the process involved in appointing a proxy.
2. Validating Proxy Assignments: The company will appoint individuals to validate the shareholders' proxy assignments, advising that those proxies that fail to meet the minimum requirements established by law will not be admitted as valid. This step helps prevent invalid or improper proxy assignments.
3. Preventing Company Influence: Ecopetrol will instruct its administrators and employees to abstain from suggesting or determining the name of the shareholders' representatives, not suggest to shareholders to vote for a specific candidate list, and not suggest, coordinate, or agree with shareholders to present proposals at the meeting or vote for or against any proposal presented at the meeting. This prevents the company from influencing the shareholders' decision-making process.
4. Restricting Proxy Grants: The company will restrict granting proxies to people directly or indirectly linked to the administration or employees of Ecopetrol. This helps prevent insiders from influencing the proxy assignment process.
5. Oversight and Compliance: The Vice-Presidency of Legal Affairs and Secretariat will be responsible for the review and verification of proxies, ensuring that the proxy assignment process is transparent and accountable.

These measures were adopted by the members of the Board of Directors of Ecopetrol in a meeting held on February 21, 2025, and are expected to be implemented prior to the Ordinary General Shareholders' Meeting.



Ecopetrol's commitment to enhancing shareholder representation aligns with international best practices for corporate governance, promoting transparency, accountability, and fairness in the proxy voting process. By implementing these measures, the company aims to foster a more democratic and inclusive decision-making process at the upcoming Ordinary General Shareholders' Meeting, ultimately contributing to better governance and strategic direction for the company.

As an investor, it is essential to stay informed about the companies you invest in and their efforts to improve corporate governance and shareholder representation. By doing so, you can make more informed decisions and better understand the potential risks and opportunities associated with your investments.