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Fraud Prevention Notice

July 31, 2017


Ecopetrol America Inc. (“EAI”) informs that an individual has been supplanting the identity of EAI’s Information Technology Lead, Mr. Carlos Velazquez, and fraudulently requesting goods, allegedly on behalf of EAI, through e-mails which domain and delivery address do not correspond to those of our Company.


Please be reminded that the Procurement Manager (Mrs. Paola Calderon) and the President (Mr. Carlos Portela) are the only persons with authority to purchase goods or services and sign contracts/purchase orders/service orders in the name and on behalf of EAI.

 

In addition, the domain for e-mail accounts of our company is @ecopetrol-america.com and the address is 2800 Post Oak Blvd, Suite 4500, Houston, Tx 77056

 

Should you have any doubt about the legitimacy of any transaction please do not hesitate to contact the undersigned.

 


Sincerely,

 

Procurement Manager

Paola Calderon

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Ecopetrol informs the resignation of a member of the Board of Directors

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“Ecopetrol”) hereby reports that, in the meeting held on August 19, 2016, the Board of Directors of Ecopetrol acknowledged the resignation of Mr. Jorge Pinzon Sanchez, independent member of the Board of Directors. The resignation will become effective once the General Shareholder Assembly appoints the new members of the Board of Directors.

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Ecopetrol Group Announces its Results for the Second Quarter and First Half of 2016

  • In the second quarter of 2016 the Corporate Group reported net income of COP $787 billion, 117% higher than in the first quarter of 2016. For the first half of the year our net income totaled COPS$1,150 billion.
  • With the receipt of Rubiales and Cusiana fields, Ecopetrol achieves a new landmark as a world-class operator with more than 500 thousand barrels per day.
  • We accomplished our target: the startup of the 34 units of Cartagena Refinery. Now moving forward to the stabilization phase.

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Ecopetrol Discloses Minority Shareholders' Agreement

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby reports that representatives of the minority shareholders with the largest holdings of the Company’s shares have submitted a "Shareholders' Agreement", subscribed by four pension and retirement funds, in which such minority shareholders have nominated Mr. Juan José Echavarría Soto as an independent member of the Board of Directors of the Company.

Pursuant to the Majority Shareholder’s Declaration, the nomination of Mr. Echavarría as an independent member of the Board of Directors and stated by the minority shareholders is to be included as the ninth item in the program that will be submitted for consideration at the Extraordinary Shareholders' Meeting.

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Fitch reaffirms international investment grade rating of Ecopetrol S.A.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“Ecopetrol” or the “Company”) reports that the risk rating agency Fitch Ratings maintained the rating of the Company at investment grade, with a rating of BBB.

Given the Company's strategic link to the Republic of Colombia, Fitch Ratings downgraded the Company’s outlook from stable to negative, in line with its updated outlook for the Republic of Colombia (BBB, outlook negative), which was published on July 22, 2016.

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Mónica Jiménez González is the new General Secretary of Ecopetrol S.A.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“Ecopetrol” or the “Company”) reports that Mrs. Mónica Jiménez González assumed her functions as the company's new Secretary General.

Mrs. Jiménez is an attorney with a degree from University de los Andes, with more than 15 years of experience in her profession. She is a specialist in Liability and Recoverable Damage from Universidad Externado, and she has a Master's Degree in Science in Development Studies from the London School of Economics and Political Science (LSE), with a scholarship granted by the British Council for academic and professional excellence.

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Ecopetrol Reports On Establishment Of New Companies That Will Comprise Part Of The Ecopetrol Business Group

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“Ecopetrol” or the “Company”) reports that its Board of Directors has approved the establishment of the following companies for the purpose of continuing to execute the strategy of Ecopetrol Business Group for 2020:

  1. A Colombian company, 100% indirectly owned by Ecopetrol S.A. through Propilco S.A., to which the indirect participations that Ecopetrol S.A. currently has in Comai Ltda. and in Sociedad Portuaria de Oleofinas y Derivados will be transferred.
  2. A foreign company domiciled in Peru, 100% indirectly owned by Ecopetrol S.A., which will be directly affiliated with Propilco S.A. and will serve the Peruvian market directly.

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S&P reaffirms the international rating of investment grade for Ecopetrol S.A.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby announces that the rating agency Standard & Poor's (S&P) maintained the company´s investment grade at BBB.

Within the report, S&P mentioned the Company's leading position in Colombia, its low lifting cost, and its basis of proven reserves. S&P also highlighted the greater operating efficiencies achieved by Ecopetrol through its austerity plan and cost-cutting measures, as well as its focus on profitable barrels.

In its report, the agency kept the Company's negative outlook, considering the impact that volatility in crude oil prices might have on its financial metrics, and in line with the current Outlook for the Republic of Colombia (BBB, negative outlook).

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Ecopetrol announces decision by the Board of Directors

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) (“Ecopetrol”) hereby reports that, in the meeting held on June 17, 2016, the Board of Directors of Ecopetrol acknowledged the resignation of Mr. Roberto Steiner Sampedro, a member of the Board of Directors.

The resignation will become effective once the General Shareholder Assembly appoints the new members of the Board of Directors.

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Publication of separate Financial Statements to December 2015

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) retransmitted to the Superintendencia Financiera de Colombia its first Separate Financial Statements under IFRS up to December 31, 2015, compared to 2014, for the purpose of aligning the profits for 2014 in the Statement of changes in equity with those presented in the Statement of Profit and Loss.

This retransmission is done for purposes of presentation and does not modify the figures of the result for the years 2015 and 2014 initially reported to the Financial Superintendancy.

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Retransmission of Report on Implementation of Best Corporate Practices – Código País

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby reports the retransmission of the Report on Implementation of Best Corporate Practices – Código País - of Ecopetrol S.A. with a cutoff date of December 31, 2015, in order for responses 3.1, 6.2, 8.1, 10.3, 10.6, 13.1, 16.2, 18.8, 18.22, 23.1, 29.6, 29.7, 29.12 y 31.2 to be clearer and more precise, in accordance with the principles of transparency, comprehensiveness and truthfulness of information with respect to corporate governance practices adopted and implemented by Ecopetrol S.A.

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Ecopetrol Successfully Priced an International Bond for US$500 Million Dollars, and Confirms the Capital Markets' Confidence in the Company

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that, on June 8, 2016, based on the authorization granted by the Ministry of Finance and Public Credit (Resolution 1657 of June 7, 2016) to subscribe, issue and place External Public Debt Bonds in the international capital markets, it reopened its 2023 Bond for US$500 million, with the following results:

  • Maturity Date: September 18, 2023
  • Total Amount Issued: Five hundred million dollars (US$500,000,000)
  • Offering Date: June 8, 2016
  • Settlement Date: June 15, 2016
  • Credit Rating:

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Ecopetrol Continues the Implementation of Hedge Accounting Policy

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hereby announces that its Board of Directors, in a session held on June 6, 2016, approved the implementation of “Hedge of a net investment in a foreign operation” accounting as established under the International Accounting Standard IAS 39 (paragraph 102) and Decrees 2420 and 2496 of 2015 regarding International Financial Reporting Standards (IFRS).The decision seeks to reduce the volatility within the non-operational results of the Company due to the effects of fluctuations in foreign exchange rates.

The net investment hedge will apply to a portion of the foreign currency investments that the Company owns and whose functional currency is the U.S. dollar, with the hedging instrument being the portion of our dollar-denominated debt that generated a net liability position by the end of May.

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