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Investor Presentaiton

Our goal is flat total O&M and declining O&M per MWh 33 $29/MWh 2021 O&M per MWh 2022 VERSALIFT 1 Total O&M amounts exclude RES/DSM, and include planned outage amounts of $54M in 2021 and $40M-$50M in 2022. Total O&M1 2021: $865M 2022: $820M-$840M 2023 2024 PINNACLE WEST CAPITAL CORPORATION
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