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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