2022 – 2023 OPERATIONAL/FINANCIAL HIGHLIGHTS

Premium Rock, Returns and Runway Differentiates Chesapeake Superior Capital Returns

Most efficient operator, returning more cash to shareholders than domestic gas peers

• Paid $1.2 billion of dividends to shareholders

• Repurchased $1.1 billion of $2.0 billion share buyback authorization

Deep, Attractive Inventory

Premium rock, returns and runway with best-in-class execution

• Solidified focus on premier natural gas positions

Closed Vine and Chief acquisitions, realized $80 million in synergies, extended runway of high-return natural gas locations

– Exited the Powder River Basin for approximately $450 million

Initiated process to exit non-core Eagle Ford position, announced sale of two packages for aggregate gross proceeds of $2.8 billion

• Made material progress on path to Be LNG Ready

– Entered three strategic contracts to diversify, securitize and high-grade Haynesville price realizations and volumes

300 mmcf/d to Golden Pass LNG Terminal

700 mmcf/d on new Momentum pipeline sending volumes south to Gillis

HOA with Gunvor Group Ltd for up to 2 mtpa of natural gas priced on the Japan Korea Marker index

• Greater than 15 years of high-quality inventory

• Standardized measure of discounted future net cash flows of ~$26.3 billion

Premier Balance Sheet

Investment grade-quality balance sheet provides strategic through-cycle advantages

• Exited 2022 with 0.6x net debt-to-EBITDAX, well below 1.0x target

• Continued progress on corporate debt rating based on investment grade characteristics

Sustainability Leadership

Consistent and measurable progress on path to net zero

• Hired Company’s first Chief Sustainability Officer

• Lowered interim GHG and methane intensity targets to 3.0 and 0.02% by 2025 respectively

• Achieved 100% RSG certification of natural gas assets (~6 billion cubic feet per day of gross operated RSG production) in Marcellus and Haynesville

Adjusted free cash flow(a)

$2.1B

Adjusted EBITDAX(a) $4.5B

Maintained net debt-toEBITDAX below <1.0x goal(b) 0.6x

Cash returned to shareholders via dividends and share repurchases

$2.3B 100%

Gas volumes RSG certified in Marcellus and Haynesville

>50% Improvement in both GHG and methane intensity, relative to production, since 2020

Lowered interim targets 3.0(c) / 0.02%(d)

Net zero

GHG emissions by 2035

(a) Non-GAAP measure as defined in Appendix A beginning on page 68 and in the supplemental financial tables available on the Company’s website at http:// investors.chk.com/non-gaap-financials

(b) Net debt (non-GAAP) = Total GAAP debt – Premiums and issuance costs on debt – cash and cash equivalents. Adjusted EBITDAX is a non-GAAP financial measure and is defined as earnings before interest, taxes, depreciation and amortization, exploration expenses and other. See Appendix A beginning on page 68.

(c) Includes Scope 1 and 2 GHG intensity; mt CO2e/gross operated mboe produced.

(d) Includes Scope 1 and 2 methane intensity; volume methane emissions/volume gross operated gas produced.