Investor Presentaiton

Coal Exit Strategy - 7 Years Earlier than Originally Projected 16 2018 Navajo 315 MW (now retired) 2019 Cholla 387 MW 2025 2025 Remaining Four Corners 970 MW 20311 2031 Coal Free Original projection 2038 1Starting in 2023 and subject to the necessary approvals, Four Corners will move to a seasonal operating schedule that will further reduce annual carbon emissions at Four Corners by an estimated 20-25%. PINNACLE WEST CAPITAL CORPORATION

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