Fitch Ratings revises Ecopetrol S.A.’s rating on same action on the Republic of Colombia

Ecopetrol (BVC: ECOPETROL; NYSE: EC) reports that the rating agency, Fitch Ratings, downgraded the Company's credit rating to 'BBB-' from 'BBB'; outlook Negative, as a consequence of the adjustment made to the Republic of Colombia´s sovereign rating, whilst maintaining its investment grade rating.

Fitch Ratings maintained Ecopetrol's individual credit rating (Stand - Alone/ without incorporating government support) at bbb.

.

Bogotá D.C, April 3, 2020

-----------------------------------------

This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company’s prospects for growth and its ongoing access to capital to fund the Company’s business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company’s competitiveness and the performance of Colombia’s economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.

For further information, please contact:

Juan Pablo Crane de Narváez

Head of Capital Markets

Phone: (+571) 234 5190

E-mail: investors@ecopetrol.com.co

Jorge Mauricio Tellez

Media Relations (Colombia)

Phone: (+ 571) 234 4329

E-mail: mauricio.tellez@ecopetrol.com.co