Brazil · Business

Key Facts

—Board Recommendation Brava Energia’s board issued a favorable opinion on Ecopetrol’s tender offer on July 24, 2026, recommending shareholders accept.

—Advisory Nature The recommendation is non-binding; each shareholder must decide individually whether to tender shares.

—Revised Offer Filing Ecopetrol resubmitted its tender-offer document on July 20, 2026, after CVM’s regulatory review and approval.