Investor Presentaiton

Strategic plan 2012 - 2020 Goal year 2020 1.3 mm boed "Clean barrels❞ • No accidents No environmental incidents • Harmonious labor relations Delivering commitments to stakeholders 17% ROCE Source: Ecopetrol Capex 2012 - 2020 Other 2% Biofuels Transportation. 5% 1% Refining 7% US$ 80 bn Exploration 25% Production 60% • 85% allocated to E&P • 90% in Colombia 60% Years 13

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