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Investor Presentaiton

Brent (US$/BI) Delivering strong returns despite price volatility 718 715 720 725 735 45 55 72 64 51 100 80 60 40 55.2 47.7 23.1 67.8 30.8 70.8 31.1 18.0 20 11.6 13.3 15.1 6.6 5.3 1.6 0 2016 2017 2.7% 8.6% Revenues EBITDA Net Income 0.1 2018 2019 1Q20 13.1% 14.3% 12.2% ROACE* Production (mboed) Brent (US$/BI) Revenues, EBITDA and Net Income in US$ B. Figures calculated with the average exchange rate of each year. *Figure calculated in COP. 6
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