UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Commission File Number | Exact Name of Each Registrant as specified in its charter; State of Incorporation; Address; and Telephone Number | IRS Employer Identification No. | | --- | --- | ...

Financial Data and Key Metrics Changes - For Q4 2022, the company reported a loss of $0.21 per share, down $0.45 compared to Q4 2021 [11] - Full-year 2022 earnings were $4.26 per share, down from $5.47 per share in 2021, primarily due to the negative rate case outcome [12][14] - The company experienced a $17.1 million impairment charge related to a Bright Canyon energy equity investment in Q4 2022 [36] Business Line Data and Key Metrics Changes - Customer growth for Q4 2022 was 2.1%, consistent with the full-year growth rate [13] - Weather-normalized sales growth for 2022 was 2.4%, with a 1.2% increase in Q4 compared to the prior year [38] - Strong commercial and industrial (C&I) growth of 4.6% over 2021 was noted, driven by Arizona's economic diversification [38] Market Data and Key Metrics Changes - Arizona had the fifth highest population growth in 2022, contributing to customer growth [13] - The Phoenix Metro area was recognized as a top three industrial market to watch in 2023, indicating strong economic activity [38] Company Strategy and Development Direction - The company aims to achieve a constructive outcome in its pending rate case and improve customer communication and engagement in 2023 [9] - A commitment to reach 100% clean carbon-free energy by 2050 was reiterated, with over 2,100 megawatts of clean energy resources procured [8] - The capital plan was updated to $5.3 billion from 2023 to 2025, with an average annual growth rate of 5% to 7% for rate base growth [40] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the unfavorable outcome of the previous rate case but expressed confidence in long-term value creation for customers and shareholders [9][11] - The company expects headwinds in 2023 from higher benefit expenses, interest expenses, and plant depreciation and amortization [14][15] - Management emphasized a focus on cost management and operational efficiencies to navigate inflationary pressures [14] Other Important Information - The pension plan is 106% funded, with no expected contributions needed in the near term, although higher benefit expenses are anticipated in 2023 [15] - The company is deferring any equity issuance until after the current rate case resolution [16] Q&A Session Summary Question: What is the outlook for future equity needs beyond the current rate case? - The company anticipates an equity need of $400 million to $500 million in 2024, dependent on the capital plan developed post-rate case [43] Question: How does the company plan to mitigate pension expense volatility? - Management is exploring regulatory recovery options and other cost levers to manage pension expenses effectively [57] Question: What is the impact of the Court of Appeals ruling on the Four Corners SCR and Ocotillo projects? - A favorable ruling would not be retroactive but could lead to recovery of disallowed capital costs, impacting EPS positively [50][52] Question: What is the company's strategy regarding clean generation spending? - The company is focused on optimizing the mix of utility-owned generation and power purchase agreements (PPAs) to maximize benefits from tax credits [58][72] Question: What is the feedback from rating agencies regarding credit outlook? - The company is committed to maintaining a 16% to 18% FFO-to-debt ratio to support its current ratings, with future adjustments dependent on the rate case outcome [66][80]

1 POWERING GROWTH DELIVERING VALUE Fourth Quarter & Full Year 2022 Results February 27, 2023 Forward Looking Statements This presentation contains forward-looking statements based on current expectations, including statements regarding our earnings guidance and financial outlook and goals. These forward-looking statements are often identified by words such as "estimate," "predict," "may," "believe," "plan," "expect," "require," "intend," "assume," "project," "anticipate," "goal," "seek," "strategy," "likely ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number charter; State of Incorporation; Address; and Telephone Number IRS Employer Identification No. 1-8962 PINNACLE WEST CAPITAL CORPORATION 8 ...

EEI Investor Meetings November 13-15, 2022 Forward Looking Statements This presentation contains forward-looking statements based on current expectations, including statements regarding our earnings guidance and financial outlook and goals. These forward-looking statements are often identified by words such as "estimate," "predict," "may," "believe," "plan," "expect," "require," "intend," "assume," "project," "anticipate," "goal," "seek," "strategy," "likely," "should," "will," "could," and similar words. B ...

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PINNACLE WEST farial fromling 1 POWERING GROWTH DELIVERING VALUE Third Quarter 2022 Results November 3, 2022 Forward Looking Statements This presentation contains forward-looking statements based on current expectations, including statements regarding our earnings guidance and financial outlook and goals. These forward-looking statements are often identified by words such as "estimate," "predict," "may," "believe," "plan," "expect," "require," "intend," "assume," "project," "anticipate," "goal," "seek," "st ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Commission File Number | | Exact Name of Each Registrant as specified in its charter; State of Incorporation; Address; and Telephone Number | IRS Employer Identification No. | | --- | ...

Pinnacle West Capital Corporation (NYSE:PNW) Q2 2022 Earnings Conference Call August 3, 2022 12:00 PM ET Company Participants Amanda Ho - Director-Investor Relations Jeff Guldner - Chairman & Chief Executive Officer Andrew Cooper - Chief Financial Officer Conference Call Participants Insoo Kim - Goldman Sachs Julien Dumoulin-Smith - Bank of America Nick Campanella - Credit Suisse David Peters - Wolfe Research Shar Pourreza - Guggenheim Partners Operator Good afternoon, ladies and gentlemen. Thank you for st ...

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