Mr. Juan Garzon reports

ANNUAL GENERAL SHAREHOLDERS' MEETING OF ECOPETROL S.A.

Ecopetrol S.A. has called on shareholders to attend the annual general shareholders meeting to be held on March 31, 2016, starting at 9 a.m., at the International Center of Business and Exhibitions (Centro Internacional de Negocios y Exposiciones, Corferias), in Bogota, Colombia.

The agenda for the meeting will be:

• Safety guidelines;
• Quorum verification;
• Opening by the chief executive officer;
• Approval of the agenda;
• Appointment of the meeting's president;
• Appointment of the commission in charge of scrutinizing elections and polling;
• Appointment of the commission in charge of reviewing and approving the minutes of the meeting;
• Presentation of the report concerning the board of directors' activities and the board's evaluation of the chief executive officer's performance, as well as the company's compliance with the corporate governance code;
• Presentation of 2015 performance report by the board of directors and by the chief executive officer;
• Report by the minority shareholders representative;
• Review and consideration of financial statements and consolidated financial statements as of Dec. 31, 2015;
• Review of the external auditor's report;
• Approval of reports presented by the management and the external auditor and approval of financial statements;
• Approval of proposal for dividend distribution;
• Election of the external auditor and assignment of remuneration;
• Election of the board of directors;
• Propositions and miscellaneous.

As from March 7, 2016, shareholders will exercise the right to inspect the books and documents that the Colombian commercial code refers to. This information may be consulted at the company's main offices (Cra. 7, No. 37 to 69, Bogota, Colombia), in a time schedule from 7:30 a.m. to 4 p.m. The 2015 performance report may be consulted on Ecopetrol's website.

The resumes of candidates for the board of directors and for the external auditor are available to the shareholders on the Ecopetrol website.

Shareholders who may not attend the shareholders meeting may be represented through a proxy, granted in writing, which gathers the requisites established in Colombian commercial law. Shareholders may download from the website the proxy models that may be used.

Except for the cases of legal representation, managers and employees of Ecopetrol shall not represent shares other than their own, while in exercise of their posts, or substitute the powers of attorney conferred to them. Neither shall they be able to vote on the year-end financial statements.

In all events, shareholders' representation shall strictly comply with the rules established under Colombian securities law and regulations, regarding illegal, unauthorized and unsafe practices of the issuers of securities.

The meeting will be broadcasted live on local TV and on Ecopetrol's website.

We seek Safe Harbor.