Ecopetrol S.A. announced the early tender results in connection with its previously announced tender offer for cash to purchase up to U.S.$1,000,000,000 in aggregate principal amount (the "Maximum Tender Amount") of its outstanding 5.875% Senior Notes due 2023 (CUSIP: 279158 AC3 /ISIN: US279158AC30. The Offer is being made pursuant to Ecopetrol's Offer to Purchase, dated January 17, 2023 (the "Offer to Purchase"), which sets forth a comprehensive description of the terms of the Offer. Withdrawal rights for the Offer expired as of 5:00 p.m., New York City Time, on January 30, 2023 (unless extended by Ecopetrol, the "Withdrawal Date").

Notes validly tendered in the Offer may no longer be withdrawn after the Withdrawal Date, except as may be required by applicable law. As of 5:00 p.m., New York City time, January 30, 2023 (the "Early Tender Date"), the following principal amount of the Notes had been validly tendered and not validly withdrawn pursuant to the Offer: Holders who have validly tendered and have not validly withdrawn their Notes on or prior to the Early Tender Date, and whose Notes are accepted for purchase by Ecopetrol pursuant to the Offer, will receive the Total Consideration as shown in the table above, which includes an early tender payment (the "Early Tender Premium") of U.S.$30.00 per U.S.$1,000 principal amount of Notes, subject to the Maximum Tender Amount. The "Tender Consideration" means, for each U.S.$1,000 principal amount of Notes validly tendered and accepted by the Ecopetrol, the Total Consideration minus the Early Tender Premium.

The applicable Consideration will be payable in U.S. dollars. In addition to the Total Consideration or Tender Consideration (as applicable) for the Notes validly tendered and accepted for purchase, Holders will also receive accrued and unpaid interest from, and including, the last interest payment date up to, but excluding, the applicable Settlement Date (as defined below), which will be paid in cash on the applicable Settlement Date. All the Notes tendered at or prior to the Early Tender Date were accepted for purchase.

The Offer will expire at 11:59 p.m., New York City time, on February 13, 2023, unless extended or terminated earlier (the "Expiration Date"). Holders that tender after the Early Tender Date but prior to the Expiration Date will receive the Tender Consideration only. Notes tendered after the Early Tender Date but prior to the Expiration Date may be subject to proration if the principal amount of Notes causes the aggregate principal amount of tenders to exceed the Maximum Tender Amount.

Ecopetrol reserves the right, but is not obligated, to increase the Maximum Tender Amount in its sole and absolute discretion without extending the Early Tender Date or Withdrawal Date or otherwise reinstating withdrawal or revocation rights, except as required by applicable law. For the Notes validly tendered after the Early Tender Date and on or prior to the Expiration Date, and accepted by the Company for purchase pursuant to the Offer, subject to the Maximum Tender Amount and proration, settlement will occur promptly after the Expiration Date. The Company expects the Final Settlement Date to be on February 15, 2023, which is the second Business Day following the Expiration Date, unless the Expiration Date is extended by the Company in its sole discretion.

The Company expressly reserves the absolute right, in its sole discretion, from time to time to purchase any Notes that remain outstanding after the Final Settlement Date through open-market or privately negotiated transactions, one or more additional tender or exchange offers or otherwise, on terms and at prices that may or may not be equal to the consideration offered in Dthe Offer, or to exercise any of its rights, including redemption rights, under the Indenture governing the Notes.