Ecopetrol S.A. at it's General Shareholders' Meeting held on March 29, 2019, approved the plan for distribution of profits, which establishes a distribution of an ordinary dividend per share of COP 169 and an extraordinary dividend per share of COP 56, for a total dividend per share of COP 225. The dividend for the minority shareholders will be paid in one installment on April 25, 2019 (100% of the ordinary and extraordinary dividend). The dividend for the majority shareholder, the Colombian State, will be paid in three installments on April 25 (50% of the ordinary dividend), June 25 (50% of the ordinary dividend), and September 25, 2019 (100% of the extraordinary dividend).

The company also approved the appointment of its Board of Directors as follows: Non Independent Representative-General Secretary from the Ministry of Finance and Public Credit; and Independent Representatives: Luis Guillermo Echeverri Vélez; Juan Emilio Posada Echeverri; Sergio Restrepo Isaza; Santiago Perdomo Maldonado; Esteban Piedrahita Uribe; Hernando Ramírez Plazas (postulated by the oil producing departments in which Ecopetrol operates); and Carlos Gustavo Cano Sanz (postulated by ten (10) minority shareholders with major shareholding).