Chesapeake Utilities (CPK) Investor presentation summary

Corporate strategy and growth

• Clear path for growth over the next few years, with both core service areas experiencing exceptional expansion.

• Focus on earnings and dividend growth to drive increased shareholder value.

• Strategic plan for 2025-2028 centers on prudent capital deployment, proactive regulatory management, and continuous business transformation.

• Targeting continued top-quartile performance and investing in high-growth service areas.

• Emphasis on leadership development, workforce transformation, and operational discipline.

Financial performance and guidance

• 2025 CapEx guidance set at $325M-$375M, with 2025-2028 CapEx totaling $1.5B-$1.8B.

• 2025 EPS guidance of $6.15-$6.35 per share, targeting 8% EPS CAGR through 2028.

• 2028 EPS guidance projected at $7.75-$8.80 per share.

• Over 70% of capital spend has existing regulatory approvals or recovery mechanisms.

• 14-16% EPS growth expected in 2025, with a 10-year EPS CAGR of 8.4-8.7%.

Growth drivers and project pipeline

• Major capital projects underway, including Worcester Resiliency Upgrade and Miami Inner Loop expansions.

• 12 transmission and storage projects under construction, with robust pipeline of additional opportunities.

• Organic growth in Delmarva and Florida supported by new residential and commercial developments.

• Service areas in Delmarva and Florida experiencing top-quartile residential and commercial growth.

• Above-average customer growth in 2024 expected to continue, driven by new housing projects.