CHESAPEAKE ENERGY CORP

CUSIP: 165167BW6 Class: CNV

Cutler Capital Management, LLC's Holding History (CIK: 0001353098)

Note: Option positions (PUT/CALL) are excluded.

Q1 2014
Shares 990,000 Value ($000) $1,002 Avg Close — Range —
Q4 2013
Shares 500,000 Value ($000) $523 Avg Close — Range —
Q3 2013
Shares 500,000 Value ($000) $516 Avg Close — Range —
Q2 2013
Shares 500,000 Value ($000) $496 Avg Close — Range —