CHESAPEAKE UTILITIES CORPORATION ANNOUNCES $225 MILLION AT-THE-MARKET (ATM) EQUITY OFFERING PROGRAM

Chesapeake Utilities Corporation today announced that it has established an at-the-market equity offering program (the "ATM Program") to sell shares of its common stock having an aggregate sales price of up to $225,000,000, from time to time through either the Managers or the Forward Sellers (including the shares that may be sold pursuant to forward sale agreements, the "Shares"). The Shares will be offered under the Company's existing shelf registration statement on Form S-3 filed with the Securities and Exchange Commission.

Sales of the Shares may be made in transactions deemed to be "at-the-market offerings," including by sales made directly on or through the New York Stock Exchange. For sales pursuant to a forward sale agreement, the relevant Forward Purchaser will, at the Company's request, attempt to borrow from third parties and, through the relevant Forward Seller, sell a number of Shares equal to the number of Shares that underlie the forward sale agreement to hedge such forward sale agreement.

Chesapeake Utilities intends to use the proceeds from the sales, if any, of the Shares for general corporate purposes, including, but not limited to, financing of capital expenditures, repayment of short-term debt or borrowings under its revolving credit facility, financing acquisitions, investing in subsidiaries and general working capital purposes.

The Company established the ATM Program pursuant to an equity distribution agreement entered into with Barclays Capital Inc., Citizens JMP Securities, LLC, Ladenburg Thalmann & Co. Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC, as managers, Barclays Bank PLC, Citizens JMP Securities, LLC, Morgan Stanley & Co. LLC, Royal Bank of Canada and The Toronto-Dominion Bank, as forward purchasers, and Barclays Capital Inc., Citizens JMP Securities, LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC, as affiliated forward sellers.