Our strategy provides a comprehensive response to industry challenges while maintaining a clear focus on profitable growth through gradual portfolio diversification and the generation of sustainable value for all our stakeholders.

• In the context of the energy transition, we expect to maintain annual investment intensity through 2040 (COP 20–30 trillion / USD 5.0–7.0 billion).
• Capital discipline at the Ecopetrol Group has evolved to recognize the value drivers of our three business lines, reflecting the Group’s diversification and the specific characteristics of each business segment
• Capital allocation criteria help ensure profitability for the Group in low-price scenarios and under higher discount rates (Brent: USD 55/bbl, hurdle discount rates, and double-digit project returns)
• We expect to generate EBITDA of between USD 13 billion and USD 14 billion by 2040 in a resilient Brent price scenario of USD 55/bbl. At a Brent price of USD 80/bbl, this figure would range between USD 17 billion and USD 18 billion
• The Group seeks to increase the contribution of low-emission businesses, supported by the strengthening of our traditional business, while maintaining an EBITDA margin above 40%
• Within the framework of strict capital discipline, we seek profitable investments that deliver a long-term ROACE of between 8.0% and 10% and preserve the competitiveness of all our business lines
• The Company will continue working to maintain sustainable and healthy debt levels, as well as debt management aligned with the financing needs of the investment plan and the refinancing strategy. Leverage will remain consistent with stand-alone investment grade, with a Gross Debt/EBITDA ratio below 2.5x over the long term