Pinnacle West Capital Holds Annual Meeting of Shareholders

Ten Directors Re-elected to Board

PHOENIX – At its Annual Meeting of Shareholders held today, Pinnacle West Capital Corp. (NYSE: PNW) stockholders re-elected 10 individuals to the Company’s Board of Directors and approved, on an advisory basis, the Company's compensation practices for its executive officers.

Shareholders also ratified the appointment of Deloitte & Touche LLP as the Company's auditors for the 2015 fiscal year, while voting against a proposal that would have required the annual disclosure of lobbying activities and contributions, specifically through an annual report.

The following directors were re-elected to the Company’s board for one-year terms:

Donald E. Brandt, Chairman, President and CEO of Pinnacle West Capital Corp. and APS; Denis A. Cortese, M.D., Director of the ASU Health Care Delivery and Policy Program and Emeritus President and CEO of the Mayo Clinic; Richard P. Fox, Consultant and Independent Board Member; Michael L. Gallagher, Chairman Emeritus, Gallagher & Kennedy, P.A.; Roy A. Herberger, Jr., Ph.D., President Emeritus, Thunderbird School of Global Management; Dale E. Klein, Ph.D., former Chairman of the U.S. Nuclear Regulatory Commission; Humberto S. Lopez, President, HSL Properties, Inc., a real estate development and investment firm; Kathryn L. Munro, Principal of BridgeWest LLC, an investment company; Bruce J. Nordstrom, President of Nordstrom and Associates, PC, a certified public accounting firm; and David P. Wagener, Managing Partner of Wagener Capital Management, an investment and advisory firm serving utility and private equity companies.

In addition to results from the business portion of the annual meeting, Chairman Brandt provided shareholders a state-of-the-company update. A complete text of Brandt’s speech is available at the Company’s website:

Pinnacle West Capital Corp., an energy holding company based in Phoenix, has consolidated assets of about $14 billion, more than 6,400 megawatts of generating capacity and about 6,400 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

Media Contact: Alan Bunnell, (602) 250-3376

Analyst Contact: Paul Mountain, (602) 250-4952

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