Good morning. My name is Laura Avila, and I'll be your Operator today. Welcome to Ecopetrol's earnings conference call, in which we'll discuss the main financial and operational results of the fourth quarter and year-end 2022. There will be a Q&A session at the end of the presentation. Before we begin, it is important to mention that the comments in this call by Ecopetrol's senior management include projections of the company's future performance. These projections do not constitute any commitment as to future results, nor do they take into account risk or uncertainties that could materialize. As a result, Ecopetrol assumes no responsibility in the event that the future results are different from the projections shared on this conference call. The call will be led by Mr. Felipe Bayón, CEO of Ecopetrol, Yeimy Báez, Vice President of Low Emission Solutions, Alberto Consuegra, COO, Jaime Caballero, CFO, Maria Paula Camacho, Vice President of Legal Affairs and General Secretary, and Diana Escobar, Vice President of Sustainable Development. Thank you for your attention. We may now proceed with the conference call. Good morning, welcome to Ecopetrol's fourth quarter and year-end 2022 results conference call. I would like to start by highlighting the efforts and commitment of more than 18,000 direct employees and some 130,000 indirect employees. Thanks to all of them, we can deliver the best results ever in the history of the Ecopetrol Group. In 2022, we generated revenues of almost COP 160 trillion, an EBITDA of COP 75.2 trillion, and a net income of COP 33.4 trillion, doubling the net income obtained in 2021. These results are underpinned, among other things, by some of the following factors: a favorable environment of international prices, the increased production of hydrocarbons, our traditional business, our trading strategy, outstanding results in the electricity transmission, toll roads, and telecommunication business line, and the growth in domestic demand for our fuels, which meant higher sales of products. Our operational, financial, and TESG results were aligned with the goals set for the year, exceeding them in some cases. This reflects our commitment to our competitiveness and sustainability of all of our businesses. I would like to take the opportunity to highlight some of the achievements. In 2022, we had no fatalities in our operations and achieved the lowest Total Recordable Injury Frequency rate, T-R-I-F or TRIF, in the company's history, reflecting a reliable and safe operation environment for all of our employees. We had an average production for the year of over 709,000 bbl of oil equivalent per day, exceeding the goal set for 2022. Our renewable energy supply capacity reached 208 MW in 2022. We had higher social and environmental investments, which reached COP 615 billion, a 31% increase when compared to year 2021. Some of the other indicators I'd like to highlight, our gross debt to EBITDA ratio closing at 1.5x, our operating cash flow generation of some COP 36 trillion, and the execution of our CapEx of more than $5.4 billion in year 2022. All this reflects the group's capital discipline and financial strength. Let's move on to the next slide. After overcoming two crises in less than a decade, we managed to deliver historic results, accomplishing transformational milestones, such as the drilling of the first offshore well operated by a Colombian company, Molusco-1, in 2017, and then the three offshore discoveries in the Colombian Caribbean achieved since then. We entered the Permian Basin in a very successful alliance with Occidental in 2019. During the years of 2020 and 2021, through a program called Apoyo País, we contributed more than COP 139 billion to Colombians during the pandemic, during COVID, and provided commercial relief to customers and suppliers. In 2021, we acquired 51.4% of ISA. We've had, over all these years, deployed several initiatives in terms of strengthening our operations, safety, TESG, and our financial discipline. All of these have allowed us to trace a path of responsible transformation to move from being the traditional integrated oil and gas company to now a diversified energy group. Today, Ecopetrol operates in three solid business lines aimed at guaranteeing the generation of value for all of our stakeholders. The first one, hydrocarbons, where I would like to highlight the increase in the volumes of our production, transportation, and refining operations. I'd like to share with you that in year-end 2022, we reached a production exit rate exceeding pre-pandemic levels. Our refining segment reached more than 400,000 bbl of consolidated throughput, basically due to the expansion of Cartagena Refinery and very good operational capabilities in both refineries. The transportation of hydrocarbons and fuels that increased by more than 6% when compared with 2021. For the low emission businesses, I'd like to highlight the Gorgon-2 and Uchuva-1 discoveries that confirm the presence of gas in deep and ultra-deep waters in the Colombian Caribbean. The production of the first green hydrogen molecule in the country as part of our strategic plan of low carbon hydrogen. The operational startup of our third solar park, Brisas, in the Department of Huila, with a capacity of 26 MW. Finally, for our third line of business, in electricity transmission, toll roads, and telecommunications, I would like to highlight the 32% growth in ISA's net income year-on-year, as well as a progress in the construction of 32 energy projects that represent more than 4,600 additional kilometers of high voltage power transmission lines. Let's now move on to the next slide. Ecopetrol acknowledges its position as a key player in the national economy and its development. That is why our strategic planning always considers responsibility and commitment with the regions in which we operate. Last year, 2022, Ecopetrol transferred to the nation over COP 42 trillion in dividends, royalties, and taxes. Likewise, the company's contribution is also reflected in things like today, more than 2,100 families in the farming and rural communities, 128,000 students, and some 764,000 people with access to drinking water and sanitation, all benefit with our social environmental investments. The value promise to our more than 255,000 minority shareholders and some 18 million Colombians who contribute to the pension funds. Our contribution to the country's balance of trade, which exports that represent around 30% of total Colombian exports. The continuous improvement in the quality of fuels consumed every day by Colombians. The promotion of employment through the increase in the hiring of diverse talent with more than 20,000 inclusive jobs that include, among others, more than 560 people with disabilities, 7% of our human talent identified as part of ethnic minorities, and 5% identified as victims of the armed conflict. The generation of some 130,000 indirect jobs to our contractors in year 2022. It is through these fronts and efforts that we continue to work to be the energy that transform. Let's move on to the next slide. When we think about decarbonization, our goals in all of our operations remain intact, remain in place. Where we're focusing on achieving a 25% reduction of Scope 1 and 2 emissions by 2030, and a net zero emissions by 2050, whilst also reducing total emissions, that would be Scope 1, 2, and 3, by 50% by year 2050. In 2022, we made decisive progress in our decarbonization strategy. I wanna highlight a few things. Energy efficiency. Through some of these initiatives, we have allowed to avoid the emissions of 138,000 tons of CO₂ equivalent. Last year, we closed around 1,700 methane leaks, exceeding the goals that we have set for ourselves. We avoided emissions in the startup of our Castilla and San Fernando solar farms of more than 32,000 tons of CO₂ equivalent. We've offset in crude oil and products that we've given to our clients some 149,000 tons of CO₂ equivalent. In the same year, we purchased over 118,000 tons of carbon credits through our trading desk. Our first fuel gas flaring report to the Global Gas Flaring Reduction Partnership, according to the commitments made to the World Bank's Zero Routine Flaring Initiative. We also did something, it was an unprecedented research campaign, where we studied the Caribbean mangroves, the Middle Magdalena wetlands, and the Orinoco forest that was initiated to understand, amongst others, the state of conservation, ecological capacities such as carbon inventories and their carbon fixation capacities, analysis of vegetation cover through multi-temporal images, global factors of loss and gain of ecosystems' functionality and relationships with the communities. In addition, today, Ecopetrol has different businesses certified as carbon neutral. These are Esenttia, our subsidiary in the petchem business, our hydrocarbon transportation businesses, that would be Cenit, Ocensa, ODC, ODL, and Bicentenario, as well as ISA and its subsidiaries in transmission, roads, and telecommunications. The above reflects the company's commitment and alignment with the country's decarbonization goals and the Paris Agreement. I also wanna highlight that in year 2022, we had several milestones in terms of defining goals and the management of water resources in our operations. Last year, we achieved a reuse of 78% of the water required to operate, which represents an increase of 6% when compared to year 2021. I also wanna take this opportunity to reflect on the fact that Ecopetrol is committed to be water neutral by 2045. This means that we will replenish at least 100% of the water consumed in our operations, achieving a positive impact in each of the water basins where we operate. To this end, by 2045, we expect to eliminate discharges to surface water bodies, reduce freshwater collection by 66% or 2/3, and offset the remaining 34%. In line with this commitment, it is that a few days ago, we announced that Ecopetrol is the first mining energy company in Latin America to verify its water footprint. This thanks to the work with ICONTEC, the certification of the calculation and reporting of the water footprint in four of our major facilities in the company. The Cartagena and Barrancabermeja refineries, the production fields of La Cira Infantas in Santander, and Castilla in Meta. Integrated water management at Ecopetrol seeks to contribute to the equitable, economically sound, and environmentally sustainable provision of water resources in an aligned manner with our Strategy 2040: Energy that Transforms on our TESG and climate change agendas. I will now pass the floor to Yeimy Báez, who will share with us the results and milestones of the Low Emission Solutions businesses line. Thanks, Felipe. In 2022, we reached significant milestones in our portfolio of low emissions energy solutions. Reported EBITDA of the natural gas and LPG businesses for 2022 was $1,027 million, an increase of 27% compared to previous year. We also delivered a robust netback of $16.2 per equivalent barrel, increasing it by over 14% versus 2021. Ecopetrol Group is committed to maintaining a strong investment in low carbon solutions, expanding it by 140% year-over-year. In renewable energy sources, Ecopetrol continued to make significant progress, incorporating more power capacity, reaching 208 MW of renewables in the energy supply mix by the end of 2022. Benefiting from the competitive levelized cost of energy and the low emissions intensity, the up, mid, and downstream segments have reported accumulated cost savings of more than COP 22,000 million and CO2 equivalent emissions reduction of about 32,000 tons. We entered 2022 with high expectations about the hydrogen agenda, and we closed out on a high note. Since we launched our strategic plan in last March, our achievements have positioned Ecopetrol as a leader for low carbon hydrogen development in Colombia and throughout the region by the means of delivering the first proof of concept in the country to successfully produce green hydrogen and use it in an operational refinery. As expected, in August, this test reached its final stage, allowing to capture the lessons learned and use this incorporated know-how on the development of two mega-scale projects that will be operational by the end of 2025. Each of these projects is expected to have a 60 MW electrolysis capacity powered by green energy sources and be able to produce 9,000 tons of hydrogen per year. Please proceed to the next slide. In sustainable mobility, Ecopetrol continues to make strategic progress. Several programs have emerged and broadened, one of which is the fund to promote use of natural gas in heavy-duty trucks known as Kandeo, that has evolved in conjunction with third companies in Colombia. We move forward with the pilot in Bogotá, where public transportation buses powered by green hydrogen are expected to be on the road in 2023. Ecopetrol raised awareness on the importance of innovation ecosystems and made progress with the infrastructure to produce hydrogen and refuel light vehicles that is under construction in the Caribbean Innovation and Technology Center. This mobility park comes from an agreement between Toyota and Ecopetrol. I would like to highlight the 249 electric hybrid and gas vehicles that are now part of Ecopetrol's fleet, making up 25% of our automotive park. Throughout 2022, Ecopetrol continued to focus on increasing reliability of natural gas sources. The micro LNG project in Buenaventura completed six months of being online and has allowed us to test an efficient system that creates optionality. It achieved 100% service availability and proved a scalable and easily replicable solution. It also provided an autonomy of seven days to Buenaventura District and worked 24/7 during contingency periods experienced during the last year, thus allowing more than 45,000 families to receive uninterrupted natural gas. In addition, we were able to consolidate in 2022 an ecosystem that leverages the reduction of greenhouse gases emissions and underpins new businesses for Ecopetrol. This ecosystem was strengthened with strategic alliances and platforms such as the International Gas Union, IGU, the Hydrogen Council, the International Renewable Energy Agency, and the World Energy Council, among others. As part of our ongoing effort to improve community well-being. We expanded the social gas program, connecting more than 13,000 families in the country's rural communities to the natural gas network. We reached more than 2 million final users and families of vulnerable communities with our utility company, Invercolsa. While there was a cycle of high prices, the Ecopetrol Group reduced the LPG price by 30%, benefiting more than 3 million families in Colombia. I will now give the floor to Alberto Consuegra, who will go through the main operational milestones. Thank you, Yeimy. By year-end 2022, the net proven reserves, 1P of the Ecopetrol Group, amounted to 2,011 million bbl of oil equivalent with a reserve replacement ratio of 104% and an average reserve life equivalent to 8.4 years. Over the past five years, the Ecopetrol Group has maintained an average reserve replacement of 130%, even under challenging market conditions, by implementing continual infield innovations in its processes. The CapEx executed in 2022 contributed to providing organic reserves totaling 250 million bbl of oil equivalent through the execution of successful drilling and work over campaigns in fields such as Rubiales, Caño Sur Este, and Castilla. Under SEC methodology, the Brent price used to value reserves was $97.9 per barrel. It should be pointed out that by the end of 2021, we were able to capture the volumes lost due to the price decreases of 2019 and 2020, and consequently, by the end of 2022, the contribution of this factor was reduced to 19% versus 39% in 2021. However, it is important to highlight the growth and progression of volumes, which have allowed for a positive trend of recovery and growth in proven reserves over the last six years. Ecopetrol continues progressing towards becoming a more gas-focused company by 2030, in line with our energy transition strategy. Approximately 60% of the exploration portfolio is gas-targeted, and we continue to focus our efforts to materialize reserve additions from the development of the offshore and onshore Colombian Caribbean, as well as in the Piedemonte Basin discoveries. Ecopetrol delivered in 2022, the highest historical gas volume since 2010. 92% of the nation's gas is produced in the trend Piedemonte, nevertheless, we replace 67% of the production volume. Moreover, the balance of resources and unproven reserves of the Ecopetrol Group reflect the potential headway to develop these volumes into proven reserves, and therefore, it is imperative to continue allocating capital to mature new projects and include their production in order to strengthen organic growth and the country's energy sovereignty. Let's move on to the next slide, please. During 2022, we drilled a total of 24 exploratory wells in line with the plan. By year-end, we totaled seven exploratory successes in basins that hold interesting prospects for Ecopetrol, which allowed progressing more than 50% of the drill prospective volumes to discover resources. Furthermore, six wells are currently under evaluation. I want to highlight the success of the Ibamaca-2 sidetrack appraisal well, wholly operated by our subsidiary, Hocol, which confirmed the discovery of crude from the Ibamaca-1 well drilled in 2021, located in the Tolima department. By year-end, we incorporated 12 new blocks in our exploratory portfolio with strategic partners. In Brazil, six offshore blocks in the southern region of the Santos Basin. In Colombia, four deepwater blocks in the Caribbean, and our subsidiary, Hocol, was able to acquire a 50% stake in two blocks in the lower Magdalena Valley and Sinú-San Jacinto Basin in partnership with Lewis Energy as operator. For 2023, we expect to drill 25 exploratory wells, out of which 12 will be focused on gas, mainly in Piedemonte, the Caribbean offshore, and the northern onshore Colombia. Let's move on to the next slide, please. As Felipe mentioned, in 2022, production continued its growth path, reaching 709,500 bbl of oil equivalent per day, exceeding the target set for the year. The December result, which reached 734,900 bbl of oil equivalent per day, was the highest recorded since February 2020. I would like to highlight the performance of Caño Sur Este with an increase of 15,000 bbl of oil per day, thanks to the entry into operation of the first fluid treatment train, as well as an additional production from the Permian subsidiary. It is worth mentioning the increase in execution capacity during 2022, with 36% increase in development wells drilled as compared to 2021, with an average use of 28 rigs and a 25% increase in work over activities. In 2023, production will maintain its growth trend with target volumes of 720,000 bbl-725,000 bbl of oil equivalent per day, mainly leveraged by incremental production campaigns in the Permian subsidiary, Caño Sur Este, Rubiales, Piedemonte, Quifa, and Acacias. Let's continue to the next slide, please. We are pleased to report positive operational and financial results from our Permian Basin. With average production in 2022 reaching 37,800 bbl of oil equivalent per day net for Ecopetrol before royalties, a 96% increase over 2021, with an EBITDA margin of 87%. The acquisition of the new areas in the Delaware sub-basin added 48 million bbl of oil equivalent to the 2022 reserve balance. Drilling operations in the region began in December. In line with our TESG strategy, we highlight the progress in the decarbonization of our premium operations with Zero Routine Flaring, and the use of monitoring systems for the early detection of methane fugitive emissions. For 2023, we foresee average production of between 60,000 bbl- 65,000 bbl of oil equivalent per day with about 120- 130 new wells to be drilled. Let's continue with the next slide, please. Transported volumes increased by more than 63,000 bpd in 2022, mainly due to increased crude production, higher local demand for refined products, and additional barrels from third parties. We emphasize that for the second consecutive quarter, we achieved record evacuation indicators in our multipurpose pipelines due to the intensified use of the Pozos -Galán system, which allowed us to have a greater availability of products in the Barrancabermeja Refinery. The midstream segment of the Ecopetrol Group received the carbon neutral certification from the Colombian Institute of Technical Standards and Certification, ICONTEC. We are very proud to be the only midstream segment in the world to be carbon neutral. At year-end, Cenit acquired the Cantayús Small Hydropower Plant, SHP, which has an annual generation capacity of 25.4 GW an hour, and is the Ecopetrol Group's first hydropower generation asset. This will avoid approximately 63,000 tons of CO₂ emissions over the next 15 years, thus contributing towards reducing the company's carbon footprint. Let's go to the next slide, please. In our downstream segment, we achieved exceptional financial and operational results with increased operational availability, a yearly record reached in terms of gross refining margin of $21 per barrel, and a segment EBITDA of COP 9.5 trillion. We highlight the historical financial results of the Cartagena Refinery with an EBITDA of COP 4 trillion and a net profit of COP 2.2 trillion. In 4Q 2022, the combined refining throughput reached 344,900 bpd exceeding 4Q 2020 work results by 4,800 bpd due to the greater availability of domestic crudes and the execution of a scheduled major maintenance activities. In 2022, we accomplished multiple milestones, of which we highlight is the successful start-up of the Crude Unit Interconnection Project in the Cartagena Refinery, IPCC, increasing its throughput capacity by 50,000 bpd, for a total new capacity of 200,000 bpd. The refinery's operational availability was above 94% with the successful execution of 12 preventive major maintenance activities contributing towards safeguarding the operational reliability of our assets. In Q4, the first scheduled major maintenance of the U-100 crude oil unit was performed after seven years of continuous operation. The Barrancabermeja Refinery was recognized as the best refinery in Latin America by the World Refining Association. Stronger refinery operations, due to technological investments that ensure energy sovereignty and fuel quality under the highest world standards. Since July 2022, the Ecopetrol Group has delivered gasoline with a sulfur content below 50 ppm. As of January 1st, 2023, diesel with a sulfur content of 15 ppm. The successful execution of the clean hydrogen production pilot test at the Cartagena Refinery. Finally, I would like to highlight Esenttia's new recycled plastic resins plant that will be online by 4Q 2023, with an annual capacity of 12,000 tons and a carbon footprint that is 50% lower than that of comparable mechanical recycling plants. It will positively impact more than 3,000 recyclers and generate over 8,000 jobs. Let's move on to the next slide, please. In 2022, the Ecopetrol Group designed a comprehensive strategy focused on mitigating the effects that international markets have had on the cost structure of our operations and investments. We achieved efficiencies of approximately COP 3.5 trillion, of which COP 1 trillion impacted OpEx, and as such, was one of the main drivers to contain inflationary forces. These initiatives included strategies focusing on optimizing lifting costs as well as the crude dilution factor, also that improved the operational and technical performance of investment projects, among others. In fact, we saw a 13% inflationary impact on total costs. Total unit cost for the fourth quarter has a year-on-year increase of $7 per barrel, largely due to the effect of higher prices on purchases and imports of crude and products. The lifting cost exhibited a year-on-year increase of 11%, mainly explained by an increase in operations and the effect of inflationary pressure on the cost structure. On the other hand, the downstream cash cost remained constant versus 2021 levels due to a greater throughput volume to the refineries, which offset the inflationary effect. Finally, the increases in cost per barrel transported were offset by a lower unit cost due to the greater volume transported, as well as the effect of a higher exchange rate when converting costs from pesos to dollars. I would now like to turn the floor to Jaime Caballero, who will update you on the transmission and toll road segment and recount the main financial results of the Ecopetrol Group. Thanks, Alberto. ISA announced its results February 2023. At Ecopetrol, we want to highlight the excellent performance of the company during 2022, which resulted in a historically high dividend for the benefit of all its shareholders. We see great potential for joint value creation going forward. To capture it, eight working groups were set up to identify construction synergies between ISA and Ecopetrol. As a result of the electrical infrastructure synergy study, initiatives with estimated potential benefits for the Ecopetrol Group of up to $360 million have been identified. During the collaboration process between companies, other lines of work on low emission solutions have been identified, such as green hydrogen, gas to power, energy communities, amongst others. The specific plans associated with the synergies program will be incorporated into ISA's strategic update to the 2040 horizon. Let's go to the next slide, please. In 2022, the Ecopetrol Group presents exceptional performance in financial indicators, supported by the solid operating performance of all its business lines, that together with the marketing strategy, allowed us to take advantage of positive market conditions. In the results at the consolidated level, an EBITDA margin of 47.2%, a return on capital employed of 18.8%, a gross debt to EBITDA indicator of 1.5x, and a net debt to EBITDA of 1.3x all stand out. These indicators improved compared to the previous year due to, firstly, contribution of all the group companies, especially Permian and the Cartagena Refinery, which also broke records in historical results. Second, rebound in production at Ecopetrol domestically, which returned to levels pre-pandemic. Thirdly, the added value of the incorporation of ISA for a full year. Fourth, a favorable market price environment. These factors allowed the group to generate a record EBITDA level of COP 75.2 trillion, with a growth 79% compared to the previous year. At the level of the contribution of all business lines, crude oil sales stand out, which by 2022 contributed 83% of the group's EBITDA generation. The performance of the refining segment is highlighted, which tripled its contribution compared to the previous year, supported by its operational stability and record results in refining margins. The transmission and road segment had a share of 12% of the group's EBITDA, who continued to provide stability to the group's revenues and operating cash flows. The low emission solutions business line grew its EBITDA by 34% in 2022 versus 2021, with a significant contribution by the gas which we see as the fuel of the energy transition. In line with what was discussed in previous calls, the Ecopetrol Group continues to manage debt maturities for the third quarter of 2023, seeking to ensure the most competitive conditions in this volatile market environment. As part of the refining strategy so far in 2023, a successful bond issuance was carried out in the international market for $2 billion, and a partial repurchase of the international bond issued in 2015. Ecopetrol has successfully refinanced close to 70% of the debt maturities of 2023, close to $5 billion, and there, $1.6 billion in the refinancing process already. Finally, it is important to highlight how, compared to peer companies, Ecopetrol Group presents world-class results in indicators such as royalty, EBITDA margin, and EBITDA per barrel, amongst others. Regarding solvency and liquidity, we can see how these indicators are in the market average despite the effect on working capital associated wxith the Fuel Price Stabilization Fund, FEPC, for its Spanish acronym. Let's go to the next slide, please. At the end of 2022, the Ecopetrol Group recorded a robust cash position of COP 18.1 trillion, where the following items stand out. Operating cash flow generation reached COP 36.2 trillion, mainly associated to the good performance of the business segments, favorable price environment, and the payments received during the year of COP 18.3 trillion from the Fuel Price Stabilization Fund, broken down as follows: Nation contributions in cash for COP 11.5 trillion. Dividend surpluses in favor of the nation were used to compensate without transfer of resources, the liquidated obligations of the FEPC for COP 6.8 trillion. The account receivable from the fund at the end of 2022 amounts to COP 26.3 trillion. On this front, it is important to inform that according to the update of the financial plan, the National Central Government in December 2022 for 2023, an explicit item of COP 26.4 trillion was included to settle the accumulated balances as of December 2022. According with the publication of the General Budget of the Nation, the ministry is empowered to offset said payments against potential dividends due from sale, and/or use uncommitted budget surpluses for additional dividend payments. On the other hand, the new government initiated a gasoline price adjustment plan, which is critical to slow down the speed of such accumulation and close the gap for local versus international prices. The resources generated by the operation were used for organic capital investment for COP 21.9 trillion, as well as to cover the outflow of COP 18.5 trillion in cash flow, of which COP 5.9 trillion correspond to debt service and COP 13.4 trillion to dividends paid to the company shareholders. In terms of capital structure, it's important to highlight that the ownership of the group remains quite solid, growing in equity while maintaining a constant level of debt in dollars. Go to the next slide, please. The Ecopetrol Group investment plan in 2023 is in a range between COP 25.3 trillion-COP 29.8 trillion. This amounts to about $5.6 billion-$6.6 billion. In line with our commitment to the energy transition, 40% of the investments will be allocated to renewable self-generation, hydrogen, transmission and roads, energy efficiency, and gas self-sufficiency. The other 60% of investments will be focused on energy security and cash generation. The plan considers CapEx and OpEx resources for a value close to COP 3 trillion, aimed at generating concrete actions for 2023 against our growth ambitions shared with stakeholders. Initiatives mainly stand out in the following fronts: climate change, to achieve a reduction in emissions of 407 kilotons of CO2; comprehensive water management, focused on reusing 40% of the water that is collected; and territorial management, to leverage 157 km of intervening tertiary roads, education to 70,000 students, and access to drinking water for 16,000 families. Finally, it's important to highlight that the financial plan is robust, generates an EBITDA margin greater than 40%, ROCE greater than 11%, and a gross debt to EBITDA lower than 2.1 terms. Give the floor now to Maria Paula Camacho, who will give you additional color about the positive evolution of Ecopetrol's TESG. Thanks, Jaime. Ecopetrol has been recognized for its good performance in corporate responsibility and TESG by various analysts, issuers, and users of the non-financial information reporting ecosystem. This recognition has been the result of the company's rigorous processes and challenges of its performance in environmental, social, and governance matters, as well as proper communication to all stakeholders. In recent years, Ecopetrol has been adopting several sustainability and reporting standards, and it has been participating in assessments in which the company's TESG performance is evaluated. The latter has allowed the company to improve its performance and communicate more clearly and effectively its results. In the last four years, Ecopetrol has substantially improved its rating in all the dimensions rated by the Dow Jones Sustainability Index. In 2019, Ecopetrol had an overall score of 29 points, and in 2022, we received an overall score of 76. As a result of such improvement, Ecopetrol is now part of the Latin American Integrated Market, MILA, and emerging markets indexes within the Dow Jones Sustainability Index, and has been recognized as member of the Sustainability Yearbook for two consecutive years. Ecopetrol's TESG path has been upward and outstanding among its peers. Our improvements and progress are also being reflected on the CDP climate and CDP water ratings. Our current CDP ratings are above the average of companies in the oil and gas sector. I now turn the floor over to Diana Escobar for remarks on Ecopetrol's impact in the regions. Thank you, Maria Paula. We're proud to be a driving force of development for the country and the source of employment for thousands of Colombians whose work contributes to make the energy transition a reality. This creation of social value was evidenced through the achievement of many fold milestones in 2022, among which I would like to highlight the followings. The Ecopetrol Group's sustainable development investment portfolio amounted to more than COP 615 billion, 31% more than in 2021, prioritizing education, road construction, community infrastructure, entrepreneurship, inclusive rural development, and access to public services such as water, sewage, gas, and electricity. These investments focused on closing inequity gaps and diversifying local economies resulted in positive impact in national production, generating a GDP growth of 0.1% per year. Over 120,000 students benefited from our educational programs, equivalent to 1.5% of the total students enrolled in public institutions across the country. By the end of the year, Ecopetrol reached the workforce of 129,000 employees. 22% of them are people with low rate of participation in labor market. We facilitated direct and indirect connections for over 31,000 local companies through our supply chain network. We made it possible for more than 763,000 people to have access to safe drinking water, thus reducing the national gap to access this essential service by 1.5%. Ecopetrol Group continues to lead the implementation of social investment projects through taxless mechanism. We participate with 31% of the total national quota allocated by the government, contributing to closing inequity gaps in 72 municipalities and 15 departments severely affected by armed conflict and poverty. During the six years of the mechanism, a total of 59 projects adding up to COP 5,000 billion-COP 58,000 billion have been allocated to the group, generating social prosperity in the regions. We promote a fair and equitable energy transition. In 2022, the government assigned Ecopetrol to implement solar photovoltaic solutions for 766 homes in the Department of Putumayo to increase the coverage of electricity service in rural areas. Between 2019 to 2024, we estimate an accumulated social environmental investment of COP 3.6 trillion. This is part of the Ecopetrol Group's commitment to the transformation of Colombia and the generation of sustainable value for all Colombians. I now turn the floor over to Felipe for closing remarks. Thank you very much, Diana. Year 2022 was a year with outstanding financial and operating results, meeting the established goals and with significant records achieved in our three business lines. In March of 2023, we will have our AGM, our general shareholders' meeting, where we will be able to present to our shareholders the balance of the year in terms of energy sovereignty, TSG, safety, finance, and operations. In 2023, Ecopetrol will continue to make decisive progress, thanks to a solid and highly qualified team, which will work on a business plan aligned with a responsible and just energy transition and with a value promise to all of our shareholders. I wanna take the opportunity to thank 18,000 employees, men and women, that every day in Ecopetrol make the impossible possible. With this, I open the floor to question and answers. Thank you. We will now begin the question-and-answer session. First, we'll go with the audio questions, and then we'll read and answer questions from the chat wide. If you want to participate by audio, please type in the chat the number one to participate in the audio call. You can type the question in the chat, and it will be read after the audio questions. The first question is from Tasso Vasconcellos from UBS. You may proceed. UBS. Hi, everyone. First of all, thank you for taking my questions. Felipe, first of all, I would like to congratulate you for the time leading Ecopetrol and the great performance achieved in this period. We hear from UBS and Luiz as well. We show our success in the new challenge ahead. Our first question, we saw a solid performance in 2022 with a solid cash flow, allowing the payment of relevant dividends, right? As you guys just announced it. Looking at 2023, we expect a lower average Brent and a slightly change on production and increased CapEx and of course, tax rate increase to 55%. In summary, it's expected a decrease in cash flow, right? What could we expect in terms of capital allocation for the company, especially dividends, based on 2023 figures and so on? Can I expect something closer to the 40% range, following the Ecopetrol's policy? Are there any discussions with the government about a possible change on this policy? My second questions: Could you guys provide an update on the nomination of the new CEO for the company? Any comments from you on how the process is going is really helpful. Thank you. Thanks, Tasso, and thanks for being here, and thanks for your kind words. The first question, I'll provide a bit of context, but given where we are, our CapEx for 2023 has been decided. I mean, obviously, we as always have been, will be watchful of what's coming, you know, if there are things from a macro perspective that change. I think the good news is that historically, we've demonstrated that we're very quick, nimble, we can adapt. We've learned from that. Having said that, the COP 25 trillion-COP 30 trillion in terms of CapEx allocation stands. I'll ask Jaime to provide a bit more context. I know there's several variables and things that you've put on the question, and I think it's worth that we spend some time. In terms of the update of, how the process to nominate and, basically select The new CEO, I'll ask Maria Paula, to help us with that. Jaime, if you can start with the first part of Tasso's questions, that'd be great. Good morning, everybody. Oi, Tasso. I think, you know, there's a lot in your question, and the way that I would propose to approach it is what are we seeing as positive trends versus what are we seeing as potential pressures when we think about that outlook. I think there's a lot on the positive end. You know, firstly, the trajectory that we are foreseeing is one of production growth, and it's competitive production growth. It's not production growth at any cost. You have heard about the outlook for the Permian. You have heard about the outlook for gas in Colombia. These are all very, very profitable and competitive projects. Production growth it will be a factor, and we are gonna see it importantly in operating cash flow, which we see increasing over the next months and years to come, actually. The second thing that I would put on the positive category is prices and differentials, particularly. Differentials in particular. Some of you might have heard Pedro in the previous call in Spanish that we are probably in a juncture right now where there are some challenges, but the medium and long-term outlook is a positive one as well. That's something to bear in mind. Thirdly, I think, we cannot underestimate the collections for FEPC, because what we're seeing, you know, what we've actually seen over the last nine months is actually a very credible and a very proactive approach from the government in terms of dealing with that balance, which actually translates to cash for Ecopetrol in some shape or form. I think those three elements are positive in the outlook going forward. What are the pressures? I think there's two, you know, predominantly. One you've identified, which is, of course, the tax reform, but we always need to bear in mind that it's very relative. The tax reform is linked to price bands, so it's not a set amount. The way to think about it is, you know, the more we earn, the more we pay tax, but the proportion is always one that's in favor of the company. I think that we need to see it in those terms. The second pressure that we have is around debt service because clearly, the refinancing effort that we've done over the last 12 months has come at a time where rates are a bit higher because of, you know, worldwide, because of inflation, and that's gonna be translated into some nominal increase debt service over the next months. I think that all of that is positive. I think that in the end, you know, the balance of that will largely depend on what is the price outlook that you use. The price outlook that we are using, which I mentioned a couple of times, which is about, you know, $80 Brent, is one where we see a capital allocation remaining in the $5 billion-$6 billion per annum, you know, over the next few years. We've actually targeted $20 billion for the three-year period between 2023 and 2025. That number stands. From a dividend standpoint, what I would say is that the dividend policy of the company remains unchanged. It's 40%-60% of, you know, ordinary net income. What I would expect is that at these price bands, we will always try to remain in the very high end of that price band. This, of course, will depend on how performance goes, but our outlook remains very positive. Thank you. Thanks, Jaime. Maria Paula, if we can go to the second question. Thanks, Felipe. Tasso, good morning, and everyone. On your second question, I would say that the process to appoint the new CEO for the company is undertaking by the board of directors with the support of first-tier headhunters and complying with the CEO succession policy that we have in force in the company. The process is advancing. It is being carried out on a very serious and professional manner. I would say also that the board and its advisors are working to have results as soon as possible. Nevertheless, without jeopardizing the seriousness of the process and obviously its result. Thank you. The last question is from Thiago Casqueiro of Morgan Stanley. Hello, everyone. Thank you for taking my questions. First of all, I'd like to congratulate Felipe for all the work done and wish you all the success. I have two questions here. The first one is taking into consideration your exit production rate, which was quite robust, is there any upside risk to the 2023 production target? The second one is if you have any news on the path of the stabilization funds receivable from the government, can we expect new collections in the coming quarters? Thank you very much. Thanks, Thiago, and thanks for your kind words. I'm gonna ask Alberto, why don't you take the first one and share your views on how we're seeing production? Jaime, in terms of FEPC and everything else, if you can provide some insights. Albert. Thanks, Felipe. Thiago, good morning. With regards to production, we maintained our guidance in terms of having a production of about 720,000 bbl-725,000 bbl equivalent. We take a conservative view in terms of production, because we have to manage throughout the year different risks. The first one is associated with the seasonal behavior of the gas sales. Particularly when you look at December, the second half of December, and also the month of January, we see always a reduction in terms of gas sales. Think about social unrest. When you look at January production, so far we have had already impacts in our Rubiales and Caño Sur Este production rates because of social stoppages. We have a production shutdown coming from the Arauca field from one of our partners. We will have to continue manage this throughout the year. Thirdly, we have a maintenance profile in our different operations. We have routine maintenance in both Cusiana and Cupiagua. We will have to have a major turnaround in Floreña for a change of the flare tip, which probably will take, you know, between five and 10 days. We have maintenance in our triangle where we have the most of the mature oil fields in Apiay, Castilla, Chichimene. We will have to do some maintenance in tanks and also in pipelines that will need some repair. The other thing that you have to consider is decline management. We have to replace every year between 100,000 bbl and 105,000 bbl a day. Decline management will be fundamental. The CapEx that we have targeted for this year will cover that replacement of production. All in all, we maintain our range of 720,000 bbl-725,000 bbl oil equivalent per day. Thanks, Alberto. Jaime? Thank you, Felipe. Thiago, with regards to your question around FEPC and its outlook, I'd start with saying that the balance by the end of 2022 was of about COP 26 trillion, right. That's an important number to have in mind because it's actually the rationale for the allocation that the government made in its budget for 2023. What the government intended to do was actually synchronize to make sure that the balance in the FEPC by the end of the year match the budget allocation for the next year, which it's actually great news. Actually, I'll give you some history. Over the last, you know, 15 years of FEPC, that had very rarely occurred, that match between the budget and the projection for FEPC. That's, that's positive news. The second point that I'll make is that with the dividend project that we announced yesterday, basically, through dividend exchange, we're gonna meet, if you will, about COP 21.5 trillion, nearly COP 22 trillion of that balance. Which leaves a balance of about COP 4 trillion-COP 5 trillion yet to be defined, you know, going forward or, you know, over the next few months until the end of the year. The government has different mechanisms to deal with that. Dividends is a mechanism, but it's not the only mechanism. Actually the largest consideration that they have from a cash standpoint is budget surpluses. The government can actually reach out to budget surpluses in other areas and assign those to FEPC. How will that occur and what will the government decide on that? We don't know. To our understanding, they haven't decided that yet. What we do know is that the government is pleased with the results of Ecopetrol for 2022, very pleased. They're actually supportive of the dividend distribution project that we released yesterday. Actually, there was an announcement from the Ministry of Finance today in that regard. That, I believe, is also a positive news. I think the third point that I would mention is what is the accrual rate of FEPC going forward? In the first month of this year, we accrued about COP 3 trillion of FEPC. We expect that to have a downward shift over the next few months. The rate of accrual is gonna be reduced mainly because the government has announced and they are very committed to this pathway of increases in gasoline prices. To the extent that those increases occur, the rate of accrual of the balance is gonna be reduced over time. All in all, a positive outlook, I think, on the matter of FEPC. You know, if we go back 12 months ago, we had a pretty significant uncertainty about how this was gonna be dealt with. That has actually been narrowed down to something that we see as appropriate and more predictable in time. Thank you. Thanks, Jaime. The next question is from Andrés Duarte from Corficolombiana. Thank you for taking my questions. First of all, congratulations to all the company's employees for the outstanding results that you achieved, and to Felipe, the best of luck to you. Again, I really hope that you remain vocal with respect to the sector in our country. The first question is related to gas. I would like to know what explains the quarterly reduction that was observed in gas production. The second question is related to hydrogen. Please explain the company's forecasts regarding hydrogen production and sales, including self consumption, local sales and exports, if any. Thank you very much. Thanks, Andrés, and thanks for your kind words. Both questions, I'm gonna ask Yeimy to help us with that in terms of understanding what happened with gas on 4Q of last year, and then, our views on hydrogen. Yeimy, please go ahead. Good morning, Andrés, thank you very much for your questions. First about gas. What happened is that we had a planned maintenance in our infrastructure in the Llanos foothills. We were running this maintenance during the fourth quarter, and that was the main reason because we decreased the production during that quarter. It was planned as it happened, you know, the routine operations that we do every year to actually be sure that the reliability of all the infrastructure in terms of gas is ready to deliver what is needed for all the Colombian people. Regarding hydrogen, which is your second question, today we are producing 130,000 tons of hydrogen per year. 90% of that hydrogen is gray hydrogen and 10% is blue. All the hydrogen that we are producing today is being used in our own refineries to hydrotreat the fuels that we sell, that we produce and sell in Colombia and abroad. In 2022, we successfully deliver our pilot to produce the first molecule of green hydrogen in Cartagena Refinery. What we are doing now is that we are incorporating all the lessons learned and the know-how to actually mature two mega projects that will hopefully sanction the FID at the end of 2023. Those two projects will produce about 9,000 tons of hydrogen per year, each of them, with an electrolysis capacity of 60 MW. Because we are targeting the FID of those two projects by the end of this year, we are expecting to have the first molecule in 2025 or 2026. That's like the dates that we are targeting. Most of this hydrogen will be used in our own refineries to cover a deficit that we have today, but we will have a surplus production that we will use to actually develop new markets in Colombia and abroad. In 2023, we will also deliver two mobility projects in Colombia, one in Bogota and the second one in Cartagena. What we are aiming with those two pilots is to actually develop, you know, domestic demand for hydrogen. That, of course, will be a very important key issue for the next decade. In the medium and long term, what we are doing is to actually, you know, take into consideration all the competitive advantage that we have as a country, wind speed, radiation, biomass, to deliver the competitive and conventional energy resources that are required to produce competitive green hydrogen. We are more than sure that for the next decades, we will have for sure portfolio to produce hydrogen in a massive scale, not only for local production, but also to export. To actually share more details, we will need to wait and see how this hub of opportunities is progressed in the next or coming years. Thank you very much, and I hope, Andrés, that it helps to actually get a better understanding on how we are progressing on our hydrogen agenda. Thanks, Yeimy. Thanks, Andrés. Do we have any more questions? Now we will answer the questions coming from web. The first question is from Badr of Barclays. Can we have an update on the impact of frozen tariffs that President Petro wants for water, electricity on ISA, please? Thanks, Badr. Thanks for being here. Thanks for participating in the call. What I'd say on this is, first as we think about ISA, obviously as a controlling shareholder of ISA, first thing I wanna say is that we're very pleased with the investment in terms of ISA. Over the last few days or so, I'm gonna share a few numbers and a few concepts here. The first thing is that ISA has proposed to its AGM a very robust dividend distribution that accounts to roughly 88% in terms of distribution. Very comfortable with what ISA is doing in terms of its business. That the considerations that went into the recommendation for the AGM, take into account the future and forward view the company has of its business. From that point of view, ISA is not considering impact from the potential Any intervention in terms of tariffs, in terms of transmission. Very pleased, historical dividend, and it's been accounted for in terms of the numbers that we're seeing. Again, underpins and supports the decision for the dividend distribution. The other thing that I wanna highlight, and that we've been discussing over the last couple days, is that we've now identified, in addition to the value that we saw in the purchase, some $360 million of synergies in terms of transmission and in terms of new projects, in terms of transition that we can jointly do between ISA and Ecopetrol. I think it's very, very bullish in terms of what that brings. Thanks, Badr. Anything else? Do we have more questions? The next questions are from Frank McGann of Bank of America. How are transportation costs for exports affecting net backs? What are the expectations for crude oil and natural gas production in Colombia and the U.S. this year? The last question is, what are the trends you are seeing in oil services costs? Are you seeing much upward pressure? Thanks, Carolina. Pedro, can you help us with the first one? Then we'll take it there. In Alberto, if you can help us with the second and third one, that'd be great. Pedro. Okay. Thanks, Felipe. Frank, thank you for your question on transportation. When we talk about transportation cost, basically we are talking about two portions, the pipeline transportation, which is regulated, and in 2022 was actually slightly lower than 2021 because of volumes. Now, when it comes to the shipping side of the transportation cost, we are at an all-time high costs in the shipping, but it is something that is basically for the entire market. So we are competing very well. But also, I would like to take advantage of this question to let you know that we have become very active in the shipping because we set up a shipping desk in 2021, and we are doing more delivered to the customers. Actually, the numbers in 2021 was that 17% of our exports were delivered to our customers internationally. In 2022, because of the activity picked up really well, we basically delivered 37% of our export volumes are going into the international markets. That has actually become a new line of business that is becoming a new source of income for the company. Thank you. Thanks, Pedro. Alberto. Thanks, Felipe. Frank, good morning. With regards to production in Colombia, we are expecting 500,000 bbl of oil and about 150,000 bbl of oil equivalent coming from gas sales, LPGs, and condensates. In terms of U.S., think about 60,000 bbl-65,000 bbl of oil coming from both Gulf of Mexico and Permian, and then about 10,000 coming from gas in Permian. With regards to service costs, what we're expecting this year is an inflationary impact in this particular sector of about 17%. When you look at our lifting cost in total, we expect that to be in the range of $10-$10.5 per barrel, which means that we're gonna see an increase in terms of inflation in energy, and that energy, which is the main component in terms of the lifting cost impact. Inflation coming from the service sector as well, we expect to cope it with our efficiency program that provided us with extraordinary results during 2022. As a matter of fact, in total, the amount of efficiencies that we saw in 2022 amounted COP 3.6 trillion. Thanks, Alberto. Thanks. Thanks, Frank, for being part of the call. Do we have any more questions? Yes. We have the last two questions from Carlos Carazas. The first one is, should we expect new changes in management going forward? The second one, how would operations be affected by the regulatory changes that are taking place? Thanks, Carlos, thanks for being here. In terms of management, as we've described before, focus right now for the Board of Directors is in ensuring that the process to change or appoint a new CEO is done orderly and it's done, as Maria Paula was saying, in a way that's very disciplined and very thoughtful and very methodical. I think that's happening. In terms of management, we'll need to see, you know? I'd say that over the years, for those that have been following the company, you've been able to see that we've managed to basically create a very, very strong world-class team in Ecopetrol. A lot of people that we've brought to the ranks, a lot of the experience that has been in Ecopetrol for many, many years, and people from different geographies that they wanted to come back to Colombia and have been part of this of this journey and have been part of these great results. We'll see what happens. We'll see what happens. I think the important here, Carlos, is that institutions, companies, organizations prevail, you know, and that we protect those going forward. In terms of operations and if there's any impact on regulatory changes, there's conversations on those, and I think we addressed some of that in a prior question. We'll need to see what happens. There's conversations around the National Development Plan. There's some specific, you know, conversations around president being in charge of CREG, the regulatory body, for the next three months. We'll need to see how things progress, how things pan out, and if at the end there's some impact. Particular, the things around ISA that I've explained before, we're bullish. We don't see impact in the short term, but again, we'll need to be watchful. We'll need to see what happens, what goes on in the next months or so. I'm not sure if there's any more questions. No? More questions, Mr. Bayón. You may now proceed to close-. Sure The remarks. Before doing that, I'm gonna take a few minutes of your time. If you guys can help me, there's a graph that I wanna share with you, hopefully this provides some more insights in terms of reserves. You know, there were some very good questions around production profiles and what happened in 4Q. How we see this going forward, both Yeimy and Alberto talked about this. I wanna, if you can just turn your attention to this graph, which is something new that we haven't shared or disclosed before. I'll try to be very executive on this. The first number is the 2 billion, 11 million, so 2,011 million bbl. 2 billion bbl of reserves in yellow. That's 1P reserves. That's the number that we've historically been reporting. It basically shows the highest 1P reserve number in the last eight years. That number is basically 75% crude and 25% gas. That's the number that we've all seen and that you guys have seen. Here we're showing. This basically tries to paint the picture that we shared with the market over the weekend when we talked about reserves. The 3P reserves or total reserves would be 2.8 billion bbl and roughly, I think it's 21% gas. This shows, look, we're sort of, I wouldn't say unveiling, but we're sharing with you some of the numbers that we see in terms of the pipeline, you know, or in terms of what comes next. We're expanding the vision from the 1P reserves to 3P reserves. One would say or could say, "Look, let's stop there." Again, if you look further out in time and in terms of maturity of those resources, we're also sharing a view on contingent resources. You say that you see that we're saying, "Look, it includes Gorgon amongst a lot of other things." Those could be 2.3 billion and roughly 14% would be gas. We think about gas, and back to the question that was made, addressed by Yeimy, we have 2.8 TCF right now. This would be an additional 1.9 TCF. If we go further out in terms of maturity, we have discovered resources that still need to be appraised, and that's includes amongst other things, Uchuva, and that would be 3 billion bbl, and roughly it's a 30% gas. Further out, as the technical teams, the geoscientists, the geophysicists, the people in exploration think about what's next, we're foreseeing, in terms of prospective resources, 6 billion bbl, 53% gas. We wanted to share this with you. This is something that I think will be used going forward. It provides a more holistic view, and it's our own view of how we're seeing resources, its progression, and then where do we stand in reserves. We hope this is helpful. Thanks, everyone, for being part of the call today. Thanks for your feedback. Thanks for your comments. Thanks for your questions. All of those help us immensely and deeply in terms of better understanding your needs, what are the areas of concern, of interest, what are the things or areas in which we need to do better in terms of explanations, in terms of providing supporting material, in terms of ensuring that this relationship between the company and yourselves is stronger and stronger. Every time it's just stronger and gets much better and much more fluid in terms of communication. Thanks for everything. Thanks for your support. Thanks for your kind words today. This is on a personal note, my last conference call of results for Ecopetrol. You have a solid team here in Ecopetrol. Thanks for everything you do. Thanks, guys. Thanks to the team as well. To the ones that are here, there's a lot of people in the backstage. There's 18,000 men and women that do that turn the impossible into possible things every single day. Thanks for everything. Stay safe. Have a great day. Thank you, ladies and gentlemen. This concludes today's conference. Thank you for participating. You may now disconnect.