Canacol Energy Obtains the Best Ratings in Social Commitment and Human Rights Protection for 2024 according to Sustainalytics and S&P Global CSA Rating Agencies

CALGARY, ALBERTA – (April 30, 2025) – Canacol Energy Ltd. («Canacol» or the «Corporation») (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to announce that, during 2024, it achieved the highest ratings in the social dimension within the main environmental, social, and governance “ESG” performance assessments, reaffirming its leadership in the oil and gas industry in terms of sustainability.

The social dimension is a strategic pillar for Canacol, as the sustainable development of the Corporation is based on building trust and creating shared value with the communities where it operates. Dialogue, the protection of human rights, and the strengthening of social fabric are key catalysts for responsible, equitable, and sustainable energy development. Therefore, each project carried out by the Corporation incorporates rigorous social criteria that ensure concrete benefits in employment, infrastructure, basic services, and inclusion for the communities in our area of influence, fully aligned with the Sustainable Development Goals.

Canacol has received the following ratings in the Social dimension in the 2024 ESG assessments from recognized international organizations:

• S&P Global CSA: score “84” in the social dimension, placing us in the top 21% and as the third-best company in the “Upstream & Integrated” sector in the global oil and gas industry (scale 0-100, with 100 being the highest score).
• Sustainalytics: maximum score “100” in community programs and human rights (scale 0-100, with 100 being the highest score).
• ISS ESG: rating “A-“ in community engagement and rating “A+” in stakeholder dialogue assessment (scale C-/A+, with A+ being the highest score).
• ISS Governance: score “1” in human rights and score “2” in stakeholder and society (scale 10-0, with 0 being the highest score).

Yenny Rodriguez, Manager of Environment, Sustainability, and Governance at Canacol, highlighted: “The ratings obtained in the social dimension of the ESG assessments and the tangible results in our areas of influence confirm that Canacol's growth goes hand in hand with the prosperity and well-being of the communities, which have become one of our main strategic partners.”

The Corporation recognizes that sustainability is built and established, above all, locally. Therefore, in 2024, 20 projects were executed that improved the quality of life for more than 5,500 people in 16 municipalities. Additionally, 96% of purchases were made from local, regional, or national suppliers, and more than 82% of skilled labor was hired locally in the areas where we operate. By prioritizing local talent and goods, we promote employment and regional economic development.

Likewise, our commitment to social development includes advancing a diverse and inclusive internal culture, based on equal opportunities. In 2024 we reached a 37% female participation in the workforce and a 25% in senior management positions, surpassing the national average in the Oil and Gas sector. These achievements, the result of the Diversity, Equity, and Inclusion strategy, were recognized with the Gold Seal Equipares from the Ministry of Labor and the UNDP.