Ecopetrol : announces sanctions imposed by the Ministry of Labor

MATERIAL INFORMATION

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that it was notified of Resolution number 340 of 2017, through which the Territorial Entity of Bolivar of the Ministry of Labor imposed a sanction on the company in the amount of $ 88 million 494 thousand Colombian pesos per the alleged non-compliance with article 467 of the Substantive Labor Code.

Taking into account that the sanction is still not final, Ecopetrol S.A. will present an appeal of reinstatement and appeal against said administrative act within the terms established in the Law.

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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.

Maria Catalina Escobar

Phone: (+571) 234 5190

E-mail: investors@ecopetrol.com.co

Jorge Mauricio Tellez Phone: (+571) 234 4329

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