Investor Presentaiton

Ecopetrol's transformation 2007 - 2011 From Ownership 100% Government owned To •12% market float Listed in BVC, NYSE and TSX •Dow Jones Sustainability Index BVC ● BOLSA DE VALORES DE COLOMBIA EC LISTED NYSE TMX Dow Jones Sustainability Indexes Member 2011/12 Business Model NOC business model with operations in Colombia • Diversified Corporate Group across all segments • Internationalization: Colombia, Peru, Brazil, and US Gulf Coast Production 399 mboed in 2007 . 724 mboed in 2011 Market Cap USD 27 bn (Nov. 27/07) • USD 115 bn (Feb 27/12) 60%the Years 10 10

View entire presentation