Chesapeake Energy Corp.

Chesapeake Energy Corp. has set an expected effective date for the company's reverse stock split, subject to shareholder approval of the reverse stock split at a special meeting of shareholders to be held on April 13, 2020. The reverse stock split proposal includes a proposed reverse stock split ratio within a range between and including one-for-fifty (1:50) and one-for-two-hundred (1:200). If shareholder approval is obtained, the final ratio will be determined by the company's board of directors. If approved, the reverse stock split is expected to become effective at 5:00 p.m., Central Time, on April 14, 2020, and the shares will begin trading on the split-adjusted basis on the NYSE under the company's existing trading symbol "CHK" on April 15, 2020. The reverse stock split is intended to, among other things, increase the per share trading price of the company's common shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NYSE.