Resolutions Adopted by the Extraordinary Shareholders' Meeting of February 5th 2026

Rhea-AI Summary

Ecopetrol (NYSE: EC) held an Extraordinary Shareholders' Meeting on February 5, 2026, approving the agenda and electing the Board of Directors for the remainder of the 2025–2029 term.

The meeting confirmed committee appointments and the chair of the assembly; shareholders voted with 95.17949026% affirmative for the board election. The company noted its 51.4% acquisition of ISA shares and broad operations across hydrocarbons, transmission, refining, and international assets.

Positive

• Board of Directors elected for the remainder of the 2025–2029 term
• High shareholder support: 95.17949026% affirmative vote for board election
• Ecopetrol holds 51.4% of ISA shares, expanding energy transmission and international presence
• Five independent directors named, strengthening governance independence

Negative

• None.

Key Figures

Board term: 2025–2029 Board election approval: 95.17949026% Board election negative: 4.81940727% +5 more

8 metrics

Board term 2025–2029 Remaining term for elected Ecopetrol board members

Board election approval 95.17949026% Affirmative vote for election of board members

Board election negative 4.81940727% Negative vote for election of board members

Agenda approval 99.96954947% Affirmative vote to approve meeting agenda

Minutes committee approval 99.94844289% Affirmative vote for Minutes Review and Approval Committee

Employees more than 19,000 Ecopetrol workforce size cited in company description

Hydrocarbon production share more than 60% Share of Colombia’s hydrocarbon production attributed to Ecopetrol

ISA ownership stake 51.4% Ecopetrol ownership of ISA shares

Market Reality Check

Price: $11.73 Vol: Volume 2,550,587 is below...

normal vol

$11.73 Last Close

Volume Volume 2,550,587 is below the 20-day average of 3,382,928 (relative volume 0.75x). normal

Technical Price 11.73 is trading above the 200-day MA at 9.45, indicating a pre-news uptrend.

Peers on Argus

Among integrated energy peers, CVE (-1.08%), YPF (-2.93%), IMO (-0.97%), and PBR...

Among integrated energy peers, CVE (-1.08%), YPF (-2.93%), IMO (-0.97%), and PBR (-1.13%) were down, while SU rose 1.49%. EC’s -4.56% move was notably larger than most peers, suggesting a more company-specific reaction to the governance outcome.

Historical Context

5 past events · Latest: Jan 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 30	Governance report filing	Positive	-2.1%	Filed 2025 Corporate Governance Best Practices report with regulator and investors.
Jan 30	Board nominee update	Neutral	-1.6%	Minority shareholders nominated Luis Felipe Henao Cardona as ninth board director.
Jan 23	Tax/VAT ruling	Negative	+1.4%	Tax authority confirmed COP 5.3T VAT and penalty assessment on fuel imports.
Jan 20	Board nominee update	Neutral	+2.5%	Hydrocarbon-producing departments nominated Ricardo Rodriguez Yee for board seat.
Jan 16	Board nominee election	Neutral	+4.9%	Employees elected Cesar Eduardo Loza Arenas as candidate for board of directors.

Pattern Detected

Recent governance and tax-related headlines have produced mixed reactions: board and governance items often saw modest moves, while the VAT ruling drew a positive reaction despite negative implications, indicating occasional divergence between news tone and price.

Recent Company History

Over the past weeks, Ecopetrol has focused on governance and regulatory developments. On Jan 16, employees elected Cesar Eduardo Loza Arenas to the board slate, followed by nominations of Ricardo Rodriguez Yee and Luis Felipe Henao Cardona on Jan 20, and formalization of the government slate. A major VAT assessment of COP 5.3 trillion was disclosed on Jan 23. On Jan 30, the company reported its 2025 Corporate Governance Best Practices implementation. Today’s shareholder meeting outcome finalizes the 2025–2029 board composition, continuing this governance-focused sequence.

Market Pulse Summary

This announcement documents the extraordinary shareholders’ meeting that completed Ecopetrol’s board...

Analysis

This announcement documents the extraordinary shareholders’ meeting that completed Ecopetrol’s board election for the 2025–2029 term, with the director slate and all agenda items receiving very high approval levels, often above 95%. It caps a sequence of January releases about board nominations and shareholder representation. Against the backdrop of the previously disclosed COP 5.3 trillion VAT assessment, investors may focus on how the new board navigates governance, regulatory disputes, and Ecopetrol’s regional expansion strategy.

Key Terms

forward-looking statements, section 21e of the u.s. securities exchange act of 1934

2 terms

forward-looking statements regulatory

"This release contains statements that may be considered forward-looking statements within the meaning"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

section 21e of the u.s. securities exchange act of 1934 regulatory

"and Section 21E of the U.S. Securities Exchange Act of 1934, as amended"

Section 21E of the U.S. Securities Exchange Act of 1934 is a legal safe harbor that shields companies and certain spokespeople from liability for forward-looking statements—predictions, plans, or projections—so long as those statements are identified as forward-looking and accompanied by meaningful cautionary language about risks and uncertainties. For investors, it matters because it clarifies that such statements are not guarantees; think of them like a weather forecast with a disclaimer: useful for planning but not a promise.

AI-generated analysis. Not financial advice.

BOGOTA, Colombia, Feb. 5, 2026 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") announces that, during the Extraordinary Shareholders' Meeting held on February 5, 2026, at 8:40 a.m., duly convened in accordance with the legal and statutory requirements applicable to the Company, the shareholders approved the election of the members of Ecopetrol's Board of Directors for the remainder of the 2025–2029 term, pursuant to Article 187, paragraph 4, of the Colombian Commercial Code. The shareholders also addressed the remaining items on the agenda, as detailed below:

i.  Approval of the Agenda

The agenda proposed for the meeting was approved.

ii.  Appointment of the Chair of the General Shareholders' Assembly

Germán Ávila, Minister of Finance and Public Credit, was appointed as Chair of the Assembly.

iii.  Appointment of the Elections and Vote Counting Committee of the General Shareholders' Assembly

The Elections and Vote Counting Committee proposed by shareholder Carolina María Zarama was appointed.

iv.  Appointment of the Minutes Review and Approval Committee of the General Shareholders' Assembly

The Minutes Review and Approval Committee proposed by shareholder Amparo del Pilar González was appointed.

v.  Election of the Members of Ecopetrol's Board of Directors for the Remainder of the 2025–2029 Term

The members of the Board of Directors elected by the shareholders for the 2025–2029 term are the following:

Slate Seat	Name	Status
First	Ángela María Robledo Gómez	Independent
Second	Carolina Arias Hurtado	Independent
Third	Juan Gonzalo Castaño Valderrama	Not independent
Fourth	Hildebrando Vélez Galeano	Independent
Fifht	Lilia Tatiana Roa Avendaño	Not independent
Sixth	Alberto José Merlano Alcocer	Not independent
Seventh	César Eduardo Loza Arenas	Not independent
Eight	Ricardo Rodriguez Yee	Independent
Nineth	Luis Felipe Henao Cardona	Independent

Shareholders cast their votes on each item on the agenda as follows:

Matter Submitted to the Consideration of the General Shareholders' Assembly	Affirmative Vote	Negative Vote	Null Vote	Abstention
Approval of the agenda	99.96954947 %	0.00007876 %	0.0000025 %	0.03036927 %
Appointment of the Chair of the General Shareholders' Assembly	99.96949216 %	0.00013608 %	0.0000025 %	0.03036927 %
Appointment of the Elections and Vote Counting Committee	99.96946845 %	0.00013603 %	0.00002624 %	0.03036927 %
Appointment of the Minutes Review and Approval Committee	99.94844289 %	0.00013608 %	0.00002624 %	0.05139479 %
Election of the members of the Board of Directors for the remainder of the 2025–2029 term	95.17949026 %	4.81940727 %	0.00000664 %	0.00109583 %

------------------------------------- 

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector. 

This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All forward-looking statements, whether made in this release or in future filings or press releases, or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration, and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend and do not assume any obligation to update these forward-looking statements. 

For more information, please contact: 

Investor Relations Office 
Email: investors@ecopetrol.com.co  

Head of Corporate Communications (Colombia)
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co 

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SOURCE Ecopetrol S.A.

FAQ

Who was elected to Ecopetrol's Board of Directors at the February 5, 2026 meeting (NYSE: EC)?

The shareholders elected nine directors for the 2025–2029 term, including five independent members. According to the company, the slate lists Ángela María Robledo Gómez, Carolina Arias Hurtado, Juan Gonzalo Castaño Valderrama, Hildebrando Vélez Galeano, Lilia Tatiana Roa Avendaño, Alberto José Merlano Alcocer, César Eduardo Loza Arenas, Ricardo Rodriguez Yee, and Luis Felipe Henao Cardona.

What was the shareholder vote result for the board election at Ecopetrol's February 5, 2026 meeting (EC)?

The board election passed with 95.17949026% affirmative votes. According to the company, the vote tally for the board election recorded 95.17949026% in favor, 4.81940727% opposed, and minimal null/abstention figures.

What committee and chair appointments were approved at Ecopetrol's Extraordinary Shareholders' Meeting on February 5, 2026 (EC)?

Shareholders approved the agenda, appointed Germán Ávila as chair, and confirmed two shareholder-proposed committees. According to the company, Germán Ávila was named Chair of the Assembly and the Elections & Vote Counting and Minutes Review committees were appointed as proposed.

How does Ecopetrol's 51.4% acquisition of ISA shares affect the company's business scope (NYSE: EC)?

The 51.4% stake expands Ecopetrol's position into energy transmission, XM, and a highway concession. According to the company, the acquisition adds transmission operations and related businesses across Brazil, Chile, Peru, and Bolivia via ISA and subsidiaries.

When and where did Ecopetrol hold the Extraordinary Shareholders' Meeting that adopted the February 5, 2026 resolutions (EC)?

The meeting took place in Bogotá on February 5, 2026 at 8:40 a.m.. According to the company, it was duly convened under applicable legal and statutory requirements and resolved items including agenda approval and board elections.