diff --git a/src/PhpSpreadsheet/Reader/Xlsx/Chart.php b/src/PhpSpreadsheet/Reader/Xlsx/Chart.php
index 12ee0ade40..e7314d0bb1 100644
--- a/src/PhpSpreadsheet/Reader/Xlsx/Chart.php
+++ b/src/PhpSpreadsheet/Reader/Xlsx/Chart.php
@@ -396,12 +396,20 @@ private function chartTitle(SimpleXMLElement $titleDetails): Title
         foreach ($titleDetails as $titleDetailKey => $chartDetail) {
             switch ($titleDetailKey) {
                 case 'tx':
-                    $titleDetails = $chartDetail->rich->children($this->aNamespace);
-                    foreach ($titleDetails as $titleKey => $titleDetail) {
-                        switch ($titleKey) {
-                            case 'p':
-                                $titleDetailPart = $titleDetail->children($this->aNamespace);
-                                $caption[] = $this->parseRichText($titleDetailPart);
+                    if (isset($chartDetail->rich)) {
+                        $titleDetails = $chartDetail->rich->children($this->aNamespace);
+                        foreach ($titleDetails as $titleKey => $titleDetail) {
+                            switch ($titleKey) {
+                                case 'p':
+                                    $titleDetailPart = $titleDetail->children($this->aNamespace);
+                                    $caption[] = $this->parseRichText($titleDetailPart);
+                            }
+                        }
+                    } elseif (isset($chartDetail->strRef->strCache)) {
+                        foreach ($chartDetail->strRef->strCache->pt as $pt) {
+                            if (isset($pt->v)) {
+                                $caption[] = (string) $pt->v;
+                            }
                         }
                     }
 
diff --git a/tests/PhpSpreadsheetTests/Chart/Issue2965Test.php b/tests/PhpSpreadsheetTests/Chart/Issue2965Test.php
new file mode 100644
index 0000000000..8294d39b68
--- /dev/null
+++ b/tests/PhpSpreadsheetTests/Chart/Issue2965Test.php
@@ -0,0 +1,42 @@
+<?php
+
+namespace PhpOffice\PhpSpreadsheetTests\Chart;
+
+use PhpOffice\PhpSpreadsheet\Reader\Xlsx as XlsxReader;
+use PHPUnit\Framework\TestCase;
+
+class Issue2965Test extends TestCase
+{
+    private const DIRECTORY = 'tests' . DIRECTORY_SEPARATOR . 'data' . DIRECTORY_SEPARATOR . 'Reader' . DIRECTORY_SEPARATOR . 'XLSX' . DIRECTORY_SEPARATOR;
+
+    public function testPreliminaries(): void
+    {
+        $file = 'zip://';
+        $file .= self::DIRECTORY . 'issue.2965.xlsx';
+        $file .= '#xl/charts/chart1.xml';
+        $data = file_get_contents($file);
+        // confirm that file contains expected namespaced xml tag
+        if ($data === false) {
+            self::fail('Unable to read file');
+        } else {
+            self::assertStringContainsString('<c:title><c:tx><c:strRef><c:f>Sheet1!$A$1</c:f><c:strCache><c:ptCount val="1"/><c:pt idx="0"><c:v>NewTitle</c:v></c:pt></c:strCache></c:strRef></c:tx>', $data);
+        }
+    }
+
+    public function testChartTitleFormula(): void
+    {
+        $reader = new XlsxReader();
+        $reader->setIncludeCharts(true);
+        $spreadsheet = $reader->load(self::DIRECTORY . 'issue.2965.xlsx');
+        $worksheet = $spreadsheet->getActiveSheet();
+        $charts = $worksheet->getChartCollection();
+        self::assertCount(1, $charts);
+        $originalChart1 = $charts[0];
+        self::assertNotNull($originalChart1);
+        $originalTitle1 = $originalChart1->getTitle();
+        self::assertNotNull($originalTitle1);
+        self::assertSame('NewTitle', $originalTitle1->getCaptionText());
+
+        $spreadsheet->disconnectWorksheets();
+    }
+}
diff --git a/tests/data/Reader/XLSX/issue.2965.xlsx b/tests/data/Reader/XLSX/issue.2965.xlsx
new file mode 100644
index 0000000000..7c0672d396
Binary files /dev/null and b/tests/data/Reader/XLSX/issue.2965.xlsx differ