Ecopetrol : Annual General Shareholders’ Meeting of ECOPETROL S.A

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The Chief Executive Officer of Ecopetrol S.A. hereby calls on Shareholders to attend the Annual General Shareholders' Meeting to be held on Thursday, March 31, 2016, starting at 9 a.m., at the International Center of Business and Exhibitions (Centro Internacional de Negocios y Exposiciones, Corferias), Bogotá, Colombia.

The agenda for the meeting will be:

1. Safety guidelines

2. Quorum Verification

3. Opening by the Chief Executive Officer

4. Approval of the Agenda

5. Appointment of the Meeting's President

6. Appointment of the Commission in charge of scrutinizing elections and polling

7. Appointment of the Commission in charge of reviewing and approving the minutes of the meeting

8. Presentation of the report concerning the Board of Directors' activities, the Board's evaluation of the Chief Executive Officer's performance, as well as the company's compliance with the corporate governance code

9. Presentation of 2015 performance report by the Board of Directors and by the Chief Executive Officer

   
   

10. Report by the Minority Shareholders Representative

11. Review and consideration of financial statements and consolidated financial statements as of December 31, 2015

12. Review of the External Auditor's Report

13. Approval of reports presented by the Management, and the External Auditor and approval of Financial Statements

14. Approval of proposal for dividend distribution

15. Election of the External Auditor and assignment of remuneration

16. Election of the Board of Directors

17. 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. 37-69 Bogota, Colombia), in a time schedule from 7:30 a.m. to 4:00 p.m. 2015 performance report may be consulted on Ecopetrol Web site.

The résumés of candidates for the Board of Directors and for the External Auditor are available to the shareholders on Ecopetrol Web site.

Shareholders that 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 Web site 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.

JUAN CARLOS ECHEVERRY GARZÓN

Chief Executive Officer

The meeting will be broadcasted live on local TV and on Ecopetrol Web site.