Chesapeake 1Q ’23 Earnings Highlights

1Q ’23 Earnings Highlights

Flexible operating plan based on market conditions

• 2023 activity reductions:

– 1Q’23: Released 1 rig in Haynesville and 1 frac crew in Marcellus

– 2Q’23: Releasing 1 frac crew in Haynesville

– 3Q’23: Releasing 1 rig in Haynesville and 1 rig in Marcellus

• 2Q vs. 1Q’23: 10% decrease in D&C capital, 5% decrease in Natural Gas production

https://filecache.investorroom.com/mr5ir_chk/759/CHK_1Q23_Earnings_...

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