Pinnacle West Declares Quarterly Dividend

Third-Quarter Financial Results, Conference Call Scheduled for Nov. 3

PHOENIX–(BUSINESS WIRE)–Pinnacle West Capital Corporation’s (NYSE: PNW) board of directors voted today to raise the Company’s dividend by 1.8 percent, or 6 cents per common share annually. This action will result in an indicated annual dividend of $3.46 per share – or $0.865 per share quarterly. The declared quarterly dividend is payable Dec. 1, 2022, to shareholders of record at the close of business Nov. 1, 2022.

Earnings Release, Webcast and Conference Call

In addition, as previously announced, Pinnacle West plans to release its 2022 third-quarter results before the U.S. financial markets open on Thursday, Nov. 3, 2022.

That same day at noon ET (9 a.m. Arizona time), management will host a live webcast and conference call to discuss financial results and recent developments. The webcast can be accessed at pinnaclewest.com/presentations and will be available for replay on the website for 30 days. To access the live conference call by telephone, dial (888) 506-0062 or (973) 528-0011 for international callers and enter participant access code 947938. An audio recording will be available by phone until 11:59 p.m. ET, Thursday, Nov. 10, 2022, by calling (877) 481-4010 in the U.S. and Canada or (919) 882-2331 internationally and entering passcode 46637.

General Information

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of approximately $23 billion, about 6,300 megawatts of generating capacity and nearly 5,900 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, the company provides retail electricity service to more than 1.3 million Arizona homes and businesses. For more information about Pinnacle West, visit the company’s website at pinnaclewest.com.

Contacts

Media Contact: Alan Bunnell (602) 250-3376

Analyst Contact: Amanda Ho (602) 250-3334

Website: pinnaclewest.com