Ecopetrol Board Approves 2026 Annual Investment Plan Of COP 22–27 Trillion

<p>Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:<a href="https://www.benzinga.com/quote/EC">EC</a>) ("Ecopetrol" and together with its subsidiaries, the "Ecopetrol Group") announces that its board of directors has approved the Ecopetrol Group's Annual Investment Plan for 2026 (the "2026 Annual Investment Plan"), with an amount ranging between COP 22 and 27 trillion1. This plan maintains investment levels compared to the projected 2025 year-end figures, under capital discipline criteria for each business line, and includes the following guidelines:</p><ul><li>Approximately COP 17.2 trillion, about 70% of the budget, is expected to be allocated to profitably produce between 730 and 740 thousand barrels of oil equivalent per day, maintain an average refinery throughput of 410 to 420 thousand barrels per day, and transport between 1,110 and 1,120 thousand barrels per day.</li><li>Around COP 7.1 trillion, approximately 30% of the budget, is expected to be invested in Energy Transition and Power Transmission projects, as well as roads and other corporate investments.</li><li>The 2026 Annual Investment Plan considers a challenging environment, with an estimated Brent price of US$60 per barrel and an average annual exchange rate close to COP 4,050. Accordingly, Ecopetrol Group has defined a strategy to safeguard profitability and liquidity through cost reductions, enabling an approximate EBITDA margin of 40%, in line with 2025 levels. Additionally, transfers to the Nation are estimated at around COP 28 trillion.</li><li>The Profitability and Efficiency Program is expected to contribute approximately COP 5.7 trillion, positively impacting EBITDA, investments, and working capital. The program is also expected to support performance in total refining costs, transported barrel costs, and maintain lifting costs below US$12 per barrel.</li><li>About COP 1.7 trillion is expected to be allocated to advance the goals of the sustainability strategy (SosTECnibility), mainly in climate change, sustainable territories, materials and waste, and occupational health.</li><li>To safeguard cash and maintain healthy debt and profitability metrics, the Ecopetrol Group expects to implement a portfolio rotation program.</li></ul>