Ecopetrol will perform a debt management operation on a loan subscribed with Bancolombia in rate, term and amortizations

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Bogotá.- The Ministry of Finance and Public Credit issued Resolution 1238, whereby it authorized Ecopetrol to enter into an internal public debt management operation on the internal loan agreement signed with Bancolombia.

This loan was authorized by the Colombian Government on March 16, 2023 under the modality of non-revolving committed line, up to $1 billion Colombian legal currency, destined to pay commitments derived from existing credit obligations of the state-owned oil company.

The aforementioned operation consists of the following:

i. Modify paragraph (d) "Remuneration Interest" of Section 1.4 of Clause I of the Internal Borrowing Agreement, in order to modify the interest rate from IBR six months + 4.9000% N.A.S.V. to IBR six months + 3.1000% N.A.S.V.

ii. Modify paragraph (b) "Term" of Section 1.4 of Clause I of the Internal Loan Agreement in order to extend the total term by five years and six months (5.5 years), counted as of the date on which the first disbursement occurs.

iii. Modify paragraph (c) "Principal Amortization" of Section 1.4 of Clause I of the Internal Loan Agreement, consisting of paying the total unpaid principal of the financing in a single installment on the date on which sixty-six (66) months have passed as from the date of the first disbursement, i.e., at maturity.