Pinnacle West Capital Corporation

Phoenix-based Pinnacle West Capital Corporation is the parent company of APS. Pinnacle West and its subsidiaries generate, sell and deliver electricity and energy-related products and services and develop residential, commercial and industrial real estate properties in the western U.S.

Pinnacle West Capital Corp. is Arizona's 15th largest employer and is the 3rd largest Arizona-headquartered company.

Pinnacle West, with consolidated assets of approximately $11 billion, is comprised of three main subsidiaries:

Arizona Public Service (APS), Arizona's largest utility.

SunCor Development Company, a residential, commercial and industrial real estate development firm. One of the Southwest's premier developers, Pinnacle West subsidiary SunCor provides exceptional multi-faceted planned communities, commercial properties and golf properties that integrate the beauty of nature and offer superior places to live, work and play.

With a current asset base of more than $500 million and a net worth of more than $220 million, SunCor has thousands of acres under development in Arizona, Idaho, New Mexico and Utah and holds tens of thousands of acres yet to be developed.

Additionally, SunCor is an active participant in the communities where it operates, promoting responsible citizenship and community service among its nearly 700 employees and supporting many educational, charitable and non-profit programs and organizations.

El Dorado Investment Company, a venture capital and investment firm. El Dorado Investment Company is a Pinnacle West-owned corporate venture company that invests in and develops innovative companies offering energy-related technologies and services. El Dorado's focus is to identify new growth opportunities in the deregulated utility market and partner with companies poised to become industry leaders.

El Dorado's primary strategy is to invest in start-up, development stage and rapid expansion phase opportunities that complement the core electricity generating, distributing and marketing businesses of Pinnacle West Capital Corporation. Typical single investments range from $1 million to $5 million resulting in minority equity stakes in each portfolio company.

Pinnacle West Awards

In 2007, the company continued to earn recognition for addressing environmental, social and governance issues. Among the highlights:

• For the third consecutive year, Pinnacle West was named one of the Global 100 Most Sustainable Corporations in the World by Corporate Knights Inc., which evaluates performance on social, environmental and strategic governance issues.
• Also for the third straight year, Pinnacle West was selected for the 2007 U.S. Dow Jones Sustainability Index, the premier index recognizing sustainable business practices for publicly held corporations.
• Pinnacle West again achieved the highest rating (AAA) and is ranked in the top two of utilities in the United States by Innovest Strategic Value Advisors in its analysis covering the environmental, social and governance factors of the largest publicly-traded utility companies.