Pinnacle West Capital Corporation · NYSE:PNW

Pinnacle West Capital — Non-Deal Roadshow (April 2020)

9 slides from Pinnacle West Capital's roadshow presentation, Apr 7, 2020

  1. Slide 1: Powering Growth, Delivering Value: Investor Meetings April 2020

    POWERING GROWTH DELIVERING VALUE Investor Meetings April 2020

  2. Slide 2: Forward Looking Statements

    FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements based on current expectations, including statements regarding our earnings guidance and financial outlook and goals. These forward-looking statements are often identified by words such as “estimate,” “predict,” “may,” “

  3. Slide 3: COVID-19 Events and Energy Update

    COVID-19 EVENTS AND ENERGY UPDATE Our top priority is to provide reliable service to our customers while maintaining the health and safety of our employees Our Company has made preparations and is executing our plan to effectively manage the current environment and mitigate future impacts. Providing

  4. Slide 4: Pinnacle West Profile

    PINNACLE WEST PROFILE We are a financially healthy company well positioned to succeed in achieving our long-term goals  Strong balance sheet  Sufficient liquidity  De-risked pension plan through liability driven investment strategy  Sales weighted heavily in the Q3 hot summer months  Large resi

  5. Slide 5: Energy Usage and Sales

    ENERGY USAGE AND SALES Second half of March shows decrease in C&I and increase in residential. Too soon to reach conclusions on usage trends 3 month 10% Customer Estimated EPS impact 1% decline in C&I and change in annual sales 6% increase in Residential $0.09 residential sales Commercial $0.07 sens

  6. Slide 6: Preliminary Weather-Normalized Energy Trend

    PRELIMINARY WEATHER-NORMALIZED ENERGY TREND Friday, March 13: date when the trend in normalized load begins to change Powering Growth, Delivering Value | 6

  7. Slide 7: Strong Balance Sheet, Credit Ratings and Healthy Liquidity

    STRONG BALANCE SHEET, CREDIT RATINGS AND HEALTHY LIQUIDITY Near-Term Long-Term Debt Maturities Liquidity and Financing Activity $ in millions • $1.2 billion revolver capacity $1,000 ₋ Have drawn down $530 million • Option to increase revolver capacity by $500 million $800 All remaining long- term de

  8. Slide 8: Pension Plan

    PENSION PLAN Well funded pension plan with investment strategy that mitigates funding status volatility 1 Pension Funded Status • Liability driven investment 95% 97% strategy helps reduce funded status volatility 90% • Approximately 65% of the pension portfolio is in fixed income assets • Hedge 100%

  9. Slide 9: Operations and Supply Chain

    OPERATIONS AND SUPPLY CHAIN Our operations team has health and safety protocols consistent with our pandemic crisis management plan in place Crisis Preparedness • Executing effectively under our crisis management and business continuity plans • Employee safety top priority with remote working polici

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