PINNACLE WEST CAPITAL CORP

Pinnacle West Capital Corporation's Human Resources Committee approved a Discretionary Credit Award Agreement for Adam Heflin, Executive Vice President and Chief Nuclear Officer of Arizona Public Service Company. The award totals $1.5 million and will be credited to an account in installments between July 2026 and July 2029. The account is set to vest on May 1, 2030, provided Mr. Heflin remains employed with APS, with exceptions for specific circumstances.

Pinnacle West Capital Corp (PNW) announced its participation in June 2026 investor meetings, utilizing handouts that detail its business outlook and financial plans. The company highlighted Arizona's strong economic growth and its impact on customer acquisition. Key financial and regulatory updates include the 2025 APS Rate Case, seeking a significant revenue increase, and a long-term EPS growth target of 5%-7%. Significant capital investments in transmission infrastructure and a focus on maintaining affordability and shareholder returns were also emphasized.

Pinnacle West Capital Corporation entered into the First Amendment to its Equity Distribution Agreement on June 5, 2026. This amendment extends the outside maturity period for forward sale agreements from 18 months to 24 months. The maximum aggregate gross sales price of $900 million for common stock offerings in "at-the-market" offerings, along with other terms, remains unchanged. Approximately $630 million in shares have already been sold, leaving about $270 million available for future sales.

Pinnacle West Capital Corporation provided an investor update, targeting long-term EPS growth of 5%-7% and increasing long-term sales growth guidance to 5%-7% through 2030. The company plans significant capital investments, including over $6 billion in transmission CapEx by 2035 and a total of $10.35 billion for 2025-2028. Additionally, Pinnacle West detailed its 2025 rate case request for a $611 million net revenue increase and a 10.70% allowed ROE, aiming for rates to be effective in the second half of 2026.

Pinnacle West Capital Corp reported a significant turnaround in its first-quarter 2026 financial results, moving from a net loss to a profit. Net income attributable to common shareholders reached $32.9 million, or $0.27 per diluted share, compared to a loss of $4.6 million, or $(0.04) per share, in the prior year. Operating revenues increased to $1.15 billion from $1.03 billion, while operating income more than doubled. The company also issued $594.8 million in long-term debt during the quarter.

Pinnacle West Capital Corp. reported consolidated net income attributable to common shareholders of $32.9 million, or $0.27 per diluted share, for the first quarter ended March 31, 2026. This marks a significant turnaround from a net loss of $4.6 million, or $0.04 per diluted share, in the same period of 2025. The improved results were primarily driven by higher transmission revenues, lower operations and maintenance expenses, favorable weather conditions, and robust customer growth. The company also reaffirmed its 2026 consolidated earnings guidance of $4.55 to $4.75 per diluted share on a weather-normalized basis.

Pinnacle West Capital Corporation announced its participation in various meetings with securities analysts and investors during April 2026. The company will be utilizing handouts during these engagements, which have been filed as Exhibit 99.1 to the current report. This disclosure ensures that all information shared with investors and analysts is simultaneously made public.