Exploration Portfolio Potential

• The portfolio includes over 7 billion barrels of oil equivalent (boe) in prospects and discoveries (risked case), with an additional upside of more than 6 billion boe identified in maturing opportunities (leads).

• Approximately 60% of the exploration portfolio is gas-weighted, primarily in Offshore Caribbean, Piedemonte, and Northern Colombia opportunities.

• In Brazil, the focus is on commercial viability and cost efficiency to reduce uncertainties.

Long-Term Upstream Portfolio

• The company continues to advance in resource and reserves progression, with 2,305 MMboe of contingent resources, around 3,000 MMboe in discovered resources, and more than 6,000 MMboe of prospective resource potential.
• Over the next decade, tertiary recovery through air injection is expected to become a key production driver. The current recovery factor stands at 17%, with the potential to reach 23% through the progression of unproven reserves (P2 and P3).
• Internationally, the company will continue value generation in the Permian Basin, where more than 110 wells are expected to be drilled.

Offshore Caribbean Portfolio

• Ecopetrol currently holds 11 offshore exploration contracts in the Caribbean, representing 28% of the total area in this region. Estimated discovered volumes range between 4.5 and 12 Tcf (~800–2,140 MMboe).
• These results support continued appraisal efforts in the Southern Caribbean, which—if developed—could significantly increase Colombia’s gas reserves and help meet growing demand for a key fuel in the country’s energy transition.

Transportation (Midstream)

• Strategic focus on optimizing existing infrastructure to achieve cost-efficient operations.
• Priority on expanding participation in natural gas infrastructure, including connection pipelines, regasification, and LNG logistics.
• Midstream will also support the Group in hydrogen (H₂) logistics and carbon capture services, positioning it as a key enabler of the energy transition.

Refining

Long-term strategic priorities include:

• Enhancing the competitiveness of existing refinery assets
• Ensuring the supply of cleaner fuels
• Maximizing polypropylene margins
• Evaluating petrochemical diversification opportunities to increase participation in higher-value products
• Expanding biodiesel (Ecodiesel) capacity

Commercial

• Through the expansion of international subsidiaries, the company aims to increase product value capture by securing higher commercialization margins.

Renewable Energy Integration

• In 2022, Ecopetrol announced a target of 1,000 MW of renewable capacity by 2030. This goal has been accelerated to include 900 MW by 2025.
• This plan supports the transition toward a cleaner in-house generation mix.

Hydrogen as a Diversification Vector

• National hydrogen demand is expected to grow exponentially, reaching approximately 1.3 million tons per year.
• Ecopetrol aims to supply around 50% of this demand (~600 thousand tons/year) through low-emission hydrogen production, primarily for industrial applications, industrial mobility, and ammonia production.

ISA

• The Group expects ISA to contribute 22% to 26% of total EBITDA by 2040.
• Growth in the transmission business underscores the Group’s commitment to a just energy transition, given its critical role in ensuring energy access.
• Portfolio diversification includes large-scale energy storage and distributed energy solutions.
• ISA is expected to exceed USD 3 billion in EBITDA by 2040.