Ecopetrol Completes Acquisition of a Controlling 51% Stake in Brava Energia S.A. and Strengthens Its Growth Platform in Brazil

(NYSE: EC) Ecopetrol S.A. announced that, through its wholly owned subsidiary Ecopetrol Investimentos do Brasil Ltda., it has completed the acquisition of a controlling interest equivalent to approximately 51% of the outstanding voting share capital of Brava Energia S.A. The aggregate consideration paid in connection with the Transaction was approximately US$1.2 billion. Ecopetrol Investimentos acquired 116,110,717 common shares of Brava, representing approximately 25% of Brava's outstanding share capital, through a voluntary tender offer. Ecopetrol Investimentos also acquired 120,813,490 common shares of Brava, representing approximately 26% of Brava's outstanding share capital, through a share purchase agreement dated April 23, 2026. Brava's estimated proved reserves (1P) as of December 31, 2025, are approximately 459 million barrels of oil equivalent, and estimated proved plus probable reserves (2P) are approximately 605 million barrels of oil equivalent. For the twelve-month period ended June 30, 2026, Brava reported revenue of approximately US$2.341 billion, EBITDA of approximately US$1.050 billion, and net income of approximately US$122.2 million.