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Pinnacle West Declares Quarterly Dividend

First-Quarter Earnings Conference Call Scheduled for May 1

PHOENIX–(BUSINESS WIRE)–Pinnacle West Capital Corporation’s (NYSE: PNW) board of directors today
declared a quarterly dividend of $0.7375 per share of common stock,
payable on June 3, 2019, to shareholders of record on May 1, 2019.

Earnings Release, Webcast and Conference Call
In addition,
as previously announced, Pinnacle West plans to release its 2019
first-quarter results before the U.S. financial markets open on
Wednesday, May 1, 2019.

That same day at noon ET (9 a.m. Arizona time), the Company will host a
live webcast of management’s conference call to discuss the Company’s
results, as well as recent developments. A replay of the webcast can be
accessed at pinnaclewest.com/presentations.
To access the live conference call by telephone, dial 877-407-8035 or
201-689-8035 for international callers. A replay of the call also will
be available until 11:59 p.m. ET, Wednesday, May 8, 2019, by calling
(877) 481-4010 in the U.S. and Canada or (919) 882-2331 internationally
and entering passcode 45615.

Pinnacle
West Capital Corp
., an energy holding company based in Phoenix, has
consolidated assets of almost $18 billion, about 6,000 megawatts of
generating capacity and 6,300 employees in Arizona and New Mexico.
Through its principal subsidiary, Arizona
Public Service
, the company provides retail electricity service to
nearly 1.2 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:
Stefanie Layton (602) 250-4541
Website: pinnaclewest.com

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