2024 concluded with a robust operating performance that boosted our results across the company aligned with the goals set out at the beginning of the year. We introduced a solid financial and investment plan for 2025, which is the result of a rigorous planning process of the entire Ecopetrol Group, aiming to create sustainable value for our shareholders. Through our efficiencies program on EBITDA, capex and working capital, we achieved historic optimizations for COP 5.3 trillion.

In 2024, we registered revenues of COP 133.3 trillion, net income of COP 14.9 trillion, an EBITDA of COP 54.1 trillion, and an EBITDA margin of 41%. The gross debt/EBITDA ratio was 2.2 times and the return on capital employed (ROACE) was 10.2%. We invested USD 6,119 million (COP 24.9 trillion), with organic investments of USD 5,880 million (COP 23.9 trillion) and inorganic growth of USD 239 million (~COP 1 trillion). We contribute to the country with total transfers to our shareholders amounting COP 42 trillion.

In the hydrocarbons business line, we highlight a 104% reserve replacement, incorporating 260 MBPE. Our consolidated current assets reached a reserves replacement ratio of 111% and in Colombia 121%, proving their potential. Furthermore, thanks to the closing of the transaction with Repsol, where we became the sole owner of the CPO-09 field, we added 32 MBPE to our reserves. The average reserve life stands at 7.6 years, of which 7.8 years correspond to liquids and 6.7 years to gas. Moreover, we highlight the extension of the Joint Venture in the Permian. Our production’s positive performance, stood at 746 kboed, exceeding the year's expectations, representing a 1.2% increase compared to the previous year. Additionally, in the midstream we surpassed our target with transported volumes of 1,119 kbd (+5.8) and in the downstream, we successfully completed the annual plan of plant shutdowns and major maintenances, achieving a refining throughput of 414 kbd (-5.8), highlighting an operational availability of 94.5%

These results were also supported by an effective commercial strategy, where crude oil inventory

realization allowed ending the year without inventories in transit. The accounting differential of the crude oil basket was USD 6.5/bl compared to USD 8.7/bl in 2023. This improvement was achieved through our geographic diversification enhanced by our trading branches in Colombia, United States and Singapore, capturing market opportunities, and maximizing benefits for the Group. In the same vein, in 4Q24, third party crude trading operations were carried out with WTI Midland, Vasconia, and Oriente crude oils, for a total of 1.6 million barrels destined to USA, Africa, and Jamaica, leveraging the business strategic goals, and allowing us to improve Ecopetrol's position as for intermediate and light crude oil.

As regards to Energies for the Transition, we emphasize an energy optimization of 4,17 PJ with an impact on 349,735 tons of CO2e, and savings around COP 128 billion in the operations of the Ecopetrol Group. Further, in 4Q24, we stress the approval of Phase III of the Coral project, with a production capacity up to 880 tons per day of green hydrogen at the Cartagena Refinery.

Finally, in Transmission and Toll Roads, ISA was awarded the first tender of the Transmission Mission Plan of the Mining-Energy Planning Unit (UPME) to guarantee and secure the reliability of the electrical system of the Colombian Caribbean coast. Likewise, we recognize the ISA’s relevant contribution to the Ecopetrol’s Group EBITDA.

Looking ahead in 2025, we will continue adding value and profitability to our shareholders based on strict capital discipline, efficiencies and the strengthening of our traditional business to reinforce energies for the transition. All the above, framed in a solid corporate governance and robust institutional framework. I thank all the employees of the Ecopetrol Group for their hard work in 2024 and encourage them to keep moving forward along this new year.

Ricardo Roa Barragán

President of Ecopetrol S.A.