CHESAPEAKE UTILITIES CORPORATION RECEIVES INAUGURAL INVESTMENT GRADE CREDIT RATING FROM FITCH

About this update from Chesapeake Utilities Corporation

DOVER, Del. , March 10, 2025 /PRNewswire/ -- Chesapeake Utilities Corporation (NYSE: CPK) ("Chesapeake" or the "Company") today announced that Fitch Ratings ("Fitch") has issued an inaugural investment grade credit rating for the Company. Fitch has assigned a Long-Term Issuer Default Rating ("IDR") of BBB+ to the Company with a Stable outlook and an A- instrument rating to Chesapeake's senior unsecured debt. "The Company has a long track record of delivering top tier returns for investors driven by significant capital investment while at the same time prudently managing its balance sheet and capital structure. The Company's future capital and earnings guidance demonstrate our expectation for strong future growth.  Securing a rating was the next logical step in expanding our access to financing. Our mix of strong regulated businesses, continued commitment to a strong balance sheet, and financial discipline supported an investment grade credit rating from Fitch, which will enable us to raise capital more efficiently as we execute on our future growth plans," said Beth Cooper , Executive Vice President, Chief Financial Officer Treasurer and Assistant Corporate Secretary. Fitch announced the first-time ratings for Chesapeake Utilities Corporation, with additional details, in a press release issued on March 10, 2025 . About Chesapeake Utilities Corporation Chesapeake Utilities Corporation is a diversified energy delivery company, listed on the New York Stock Exchange. Chesapeake Utilities Corporation offers sustainable energy solutions through its natural gas transmission and distribution, electricity generation and distribution, propane gas distribution, mobile compressed natural gas utility services and solutions, and other businesses. For more information, contact: Beth W. Cooper Executive Vice President, Chief Financial Officer, Treasurer and Assistant Corporate Secretary 302.734.6022 Michael D. Galtman Senior Vice President and Chief Accounting Officer 302.217.7036 Noah T. Russell Assistant Vice President and Assistant Treasurer 302.387.9147 Lucia M. Dempsey Head of Investor Relations 347.804.9067 View original content to download multimedia: https://www.prnewswire.com/news-releases/chesapeake-utilities-corporation-receives-inaugural-investment-grade-credit-rating-from-fitch-302397288.html SOURCE Chesapeake Utilities Corporation

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