What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2026-02-25 compared with 2025-02-25 · 214 added, 675 removed, 403 unchanged (69% of the section changed)

16 unchanged sentences

Rule 10b5-1 Trading Plans

During the fiscal quarter ended December 31, 2024, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

During the year ended December 31, 2025, none of our directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

1 unchanged sentence

DIRECTORS, EXECUTIVE OFFICERS

AND CORPORATE GOVERNANCE OF PINNACLE WEST

AND CORPORATE GOVERNANCE

Reference is hereby made to “Information About Our Board and Corporate Governance” and “Proposal 1 — Election of Directors” in the Pinnacle West Proxy Statement relating to the Annual Meeting of Shareholders to be held on May 14, 2026 (the “2026 Proxy Statement”) and to the “Information about our Executive Officers” section in Part I of this report.

32 unchanged sentences

(c) Awards under the 2021 Plan, as amended, can take the form of options, stock appreciation rights, restricted stock, performance shares, performance share units, performance cash, stock grants, stock units, dividend equivalents, and restricted stock units.

Additional shares cannot be awarded under the 2012 Plan, as amended, and the 2007 Plan.

Additional shares cannot be awarded under the 2012 Plan, as amended, or the 2007 Plan.

However, if an award under the 2012 Plan, as amended, or the 2007 Plan is forfeited, terminated or canceled or expires, the shares subject to such award, to the extent of the forfeiture, termination, cancellation, or expiration, may be added back to the shares available for issuance under the 2021 Plan.

18 unchanged sentences

Audit-Related Fees (2) 403,620 384,372

All Other Fees (3) — 1,672,676

(1) The aggregate fees billed for services rendered for the audit of annual financial statements and for review of financial statements included in Reports on Form 10-K and Form 10-Q, respectively.

(2) The aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit or review of the financial statements and are not included in Audit Fees reported above, which primarily consist of fees for employee benefit plan audits in 2025 and 2024.

(3) The aggregate fees billed for independent third-party advisory (quality assurance) services related to a large-scale information technology project.

Pinnacle West’s Audit Committee pre-approves each audit service and non-audit service to be provided by APS’s registered public accounting firm.

The Audit Committee pre-approves each audit service and non-audit service to be provided by Deloitte and Touche LLP for APS.

The Audit Committee has delegated to the Chair of the Audit Committee the authority to pre-approve audit and non-audit services to be performed by the independent public accountants if the services are not expected to cost more than $100,000.

9 unchanged sentences

3.1 Pinnacle West Articles of Incorporation, restated as of May 22, 2025

3.1 to Pinnacle West/APS June 30, 2008 Form 10-Q Report, File No.

1-8962 8/7/2008

3.1 to Pinnacle West/APS June 30, 2025 Form 10-Q Report 8/6/2025

3.2 Pinnacle West Pinnacle West Capital Corporation Bylaws, amended as of February 19, 2020

3.1 to Pinnacle West/APS February 25, 2020 Form 8-K Report, File Nos.

1-8962 and 1-4473 2/25/2020

3.3 APS Articles of Incorporation, restated as of May 25, 1988 4.2 to APS’s Form 18 Registration Nos.

33-33910 and 33-55248 by means of September 24, 1993 Form 8-K Report, File No.

1-4473 9/29/1993

3.3(1) APS Amendment to the Articles of Incorporation of Arizona Public Service Company, amended May 16, 2012

3.1 to Pinnacle West/APS May 22, 2012 Form 8-K Report, File Nos.

1-8962 and 1-4473 5/22/2012

3.4 APS Arizona Public Service Company Bylaws, amended as of December 16, 2008

3.4 to Pinnacle West/APS December 31, 2008 Form 10-K Report, File No.

1-4473 2/20/2009

3.1 to Pinnacle West/APS February 25, 2020 Form 8-K Report 2/25/2020

3.3 APS APS Articles of Incorporation, restated as of May 16, 2012

3.3 to Pinnacle West/APS June 30, 2025 Form 10-Q Report 8/6/1993

3.4 APS APS Bylaws, amended as of December 16, 2008

3.4 to Pinnacle West/APS 2008 Form 10-K Report 2/20/2009

4.1 Pinnacle West Specimen Certificate of Pinnacle West Capital Corporation Common Stock, no par value

4.1 to Pinnacle West June 20, 2017 Form 8-K Report, File No.

4.2 Pinnacle West

APS Indenture dated as of January 1, 1995 among APS and The Bank of New York Mellon, as Trustee

4.6 to APS’s Registration Statement Nos.

33-61228 and 33-55473 by means of January 1, 1995 Form 8-K Report, File No.

1-4473 1/11/1995

4.3 Pinnacle West

APS Indenture dated as of November 15, 1996 between APS and The Bank of New York, as Trustee

4.5 to APS’s Registration Statements Nos.

33-61228, 33-55473, 33-64455 and 333-15379 by means of November 19, 1996 Form 8-K Report, File No.

1-4473 11/22/1996

4.1 to Pinnacle West June 20, 2017 Form 8-K Report

4.2 Pinnacle West Indenture dated as of December 1, 2000 between the Company and The Bank of New York, as Trustee, relating to Senior Unsecured Debt Securities

1 unchanged sentence

333-52476 12/21/2000

4.4(a) Pinnacle West Fourth Supplemental Indenture dated as of June 17, 2020

4.1 to Pinnacle West June 10, 2020 Form 8-K Report, File No.

1-8962 6/16/2020

Registrant(s) Description Previously Filed as Exhibit:

4.4(b) Pinnacle West F ifth Supplemental Indenture dated as of June 10 , 2024

4.1 to Pinnacle West June 5, 2024 Form 8-K Report, File No.

1-8962 6/10/2024

4.5 Pinnacle West Indenture dated as of December 1, 2000 between the Company and The Bank of New York, as Trustee, relating to Subordinated Unsecured Debt Securities

4.2 to Pinnacle West’s Registration Statement No.

333-52476 12/21/2000

4.2(a) Pinnacle West F ifth Supplemental Indenture dated as of June 10 , 2024

4.1 to Pinnacle West June 5, 2024 Form 8-K Report 6/10/2024

4.2(b) Pinnacle West Sixth Supplemental Indenture dated as of May 15, 2025

4.1 to Pinnacle West May 15, 2025 Form 8-K Report 5/15/2025

4.3 Pinnacle West

2 unchanged sentences

4.10 to APS’s Registration Statement Nos.

333-15379 and 333-27551 by means of January 13, 1998 Form 8-K Report, File No.

1-4473 1/16/1998

333-15379 and 333-27551 by means of APS January 13, 1998 Form 8-K Report 1/16/1998

4.3(a) Pinnacle West

1 unchanged sentence

4.1 to APS’s Registration Statement No.

333-90824 by means of May 7, 2003 Form 8-K Report, File No.

1-4473 5/9/2003

333-90824 by means of APS May 7, 2003 Form 8-K Report 5/9/2003

4.3(b) Pinnacle West

1 unchanged sentence

4.1 to APS’s Registration Statements Nos.

333-106772 and 333-121512 by means of August 17, 2005 Form 8-K Report, File No.

1-4473 8/22/2005

333-106772 and 333-121512 by means of APS August 17, 2005 Form 8-K Report 8/22/2005

4.3(c) APS Tenth Supplemental Indenture dated as of August 1, 2006

4.1 to APS’s July 31, 2006 Form 8-K Report, File No.

1-4473 8/3/2006

4.1 to APS July 31, 2006 Form 8-K Report 8/3/2006

Registrant(s) Description Previously Filed as Exhibit:

4.3(d) Pinnacle West

APS Twelfth Supplemental Indenture dated as of August 25, 2011

4.6f to Pinnacle West/APS 2014 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/20/2015

4.6f to Pinnacle West/APS 2014 Form 10-K Report 2/20/2015

4.3(e) Pinnacle West

APS Thirteenth Supplemental Indenture dated as of January 13, 2012

4.6g to Pinnacle West/APS 2014 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/20/2015

4.6g to Pinnacle West/APS 2014 Form 10-K Report 2/20/2015

4.3(f) Pinnacle West

APS Fourteenth Supplemental Indenture dated as of January 10, 2014

4.6h to Pinnacle West/APS 2014 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/20/2015

4.6h to Pinnacle West/APS 2014 Form 10-K Report 2/20/2015

4.3(g) Pinnacle West

APS Seventeenth Supplemental Indenture dated as of May 19, 2015

4.1 to Pinnacle West/APS May 14, 2015 Form 8-K Report, File Nos.

1-8962 and 1-4473 5/19/2015

4.6(h) Pinnacle West

APS Eighteenth Supplemental Indenture dated as of November 6, 2015

4.1 to Pinnacle West/APS November 3, 2015 Form 8-K Report, File Nos.

1-8962 and 1-4473 11/6/2015

4.6(i) Pinnacle West

4.1 to Pinnacle West/APS November 3, 2015 Form 8-K Report 11/6/2015

4.3(h) Pinnacle West

APS Nineteenth Supplemental Indenture dated as of May 6, 2016

4.1 to Pinnacle West/APS May 3, 2016 Form 8-K Report, File Nos.

1-8962 and 1-4473 5/6/2016

4.6(j) Pinnacle West

4.1 to Pinnacle West/APS May 3, 2016 Form 8-K Report 5/6/2016

4.3(i) Pinnacle West

APS Twentieth Supplemental Indenture dated as of September 20, 2016

4.1 to Pinnacle West/APS September 15, 2016 Form 8-K Report, File Nos.

1-8962 and 1-4473 9/20/2016

4.6(k) Pinnacle West

4.1 to Pinnacle West/APS September 15, 2016 Form 8-K Report 9/20/2016

4.3(j) Pinnacle West

APS Twenty-First Supplemental Indenture dated as of September 11, 2017

4.1 to Pinnacle West/APS September 11, 2017 Form 8-K Report, File Nos.

1-8962 and 1-4473 9/11/2017

4.6(l) Pinnacle West

4.1 to Pinnacle West/APS September 11, 2017 Form 8-K Report 9/11/2017

4.3(k) Pinnacle West

APS Twenty-Second Supplemental Indenture dated as of August 9, 2018

4.1 to Pinnacle West/APS August 9, 2018 Form 8-K Report, File Nos.

1-8962 and 1-4473 8/9/2018

Registrant(s) Description Previously Filed as Exhibit:

4.6(m) Pinnacle West

4.1 to Pinnacle West/APS August 9, 2018 Form 8-K Report 8/9/2018

4.3(l) Pinnacle West

APS Twenty-Third Supplemental Indenture dated as of February 28, 2019

4.1 to Pinnacle West/APS February 28, 2019 Form 8-K Report, File Nos.

1-8962 and 1-4473 2/28/2019

4.6(n) Pinnacle West

4.1 to Pinnacle West/APS February 28, 2019 Form 8-K Report 2/28/2019

4.3(m) Pinnacle West

APS Twenty-Fourth Supplemental Indenture dated as of August 19, 2019

4.1 to Pinnacle West/APS August 16, 2019 Form 8-K Report, File Nos.

1-8962 and 1-4473 8/16/2019

4.6(o) Pinnacle West

4.1 to Pinnacle West/APS August 16, 2019 Form 8-K Report 8/16/2019

4.3(n) Pinnacle West

APS Twenty-Fifth Supplemental Indenture dated as of November 20, 2019

4.1 to Pinnacle West/APS November 20, 2019 Form 8-K Report, File Nos.

1-8962 and 1-4473 11/20/2019

4.6(p) Pinnacle West

4.1 to Pinnacle West/APS November 20, 2019 Form 8-K Report 11/20/2019

4.3(o) Pinnacle West

APS Twenty-Sixth Supplemental Indenture dated as of May 22, 2020

4.1 to Pinnacle West/APS May 22, 2020 Form 8-K Report, File Nos.

1-8962 and 1-4473 5/22/2020

4.6(q) Pinnacle West

4.1 to Pinnacle West/APS May 22, 2020 Form 8-K Report 5/22/2020

4.3(p) Pinnacle West

APS Twenty-Seventh Supplemental Indenture dated as of September 11, 2020

4.1 to Pinnacle West/APS September 11, 2020 Form 8-K Report, File Nos.

1-8962 and 1-4473 9/11/2020

4.6(r) Pinnacle West

4.1 to Pinnacle West/APS September 11, 2020 Form 8-K Report 9/11/2020

4.3(q) Pinnacle West

APS Twenty-Eighth Supplemental Indenture dated as of August 16, 2021

4.1 to Pinnacle West/APS August 16, 2021 Form 8-K Report, File Nos.

1-8962 and 1-4473 8/16/2021

4.6(s) Pinnacle West

4.1 to Pinnacle West/APS August 16, 2021 Form 8-K Report 8/16/2021

4.3(r) Pinnacle West

APS Twenty-Ninth Supplemental Indenture dated as of November 8, 2022

4.1 to Pinnacle West/APS November 8, 2022 Form 8-K Report, File Nos.

1-8962 and 1-4473 11/8/2022

4.6(t) Pinnacle West

4.1 to Pinnacle West/APS November 8, 2022 Form 8-K Report 11/8/2022

4.3(s) Pinnacle West

APS Thirtieth Supplemental Indenture dated as of June 30, 2023

4.1 to Pinnacle West/APS June 30, 2023 Form 8-K Report, File Nos.

1-8962 and 1-4473 6/30/2023

4.6(u) Pinnacle West

4.1 to Pinnacle West/APS June 30, 2023 Form 8-K Report 6/30/2023

4.3(t) Pinnacle West

APS Thirt y-First Supplemental Indenture dated as of May 9, 2024

4.1 to Pinnacle West/APS May 9, 2024 Form 8-K Report, File Nos.

1-8962 and 1-4473 5/9/2024

4.1 to Pinnacle West/APS May 9, 2024 Form 8-K Report 5/9/2024

4.3(u) Pinnacle West

APS Thirty-Second Supplemental Indenture Dated as of August 15, 2025

4.2 to Pinnacle West/APS August 15, 2025 Form 8-K Report 8/15/2025

4.4 Pinnacle West Third Amended and Restated Pinnacle West Capital Corporation Investors Advantage Plan dated as of November 25, 2008

4.1 to Pinnacle West’s Form S-3 Registration Statement No.

333-155641, File No.

333-155641 11/25/2008

4.8 Pinnacle West Agreement, dated March 29, 1988, relating to the filing of instruments defining the rights of holders of long-term debt not in excess of 10% of the Company’s total assets 4.1 to Pinnacle West’s 1987 Form 10-K Report, File No.

1-8962 3/30/1988

4.8(a) Pinnacle West

APS Agreement, dated March 21, 1994, relating to the filing of instruments defining the rights of holders of APS long-term debt not in excess of 10% of APS’s total assets

4.1 to APS’s 1993 Form 10-K Report, File No.

1-4473 3/30/1994

4.5 Pinnacle West

1 unchanged sentence

4.6 Pinnacle West Indenture, dated as of June 6, 2024, between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee

4.1 to Pinnacle West June 6, 2024 Form 8-K Report, File No.

1-8962 6/6/2024

4.1 to Pinnacle West June 6, 2024 Form 8-K Report 6/6/2024

Registrant(s) Description Previously Filed as Exhibit:

10.1 Pinnacle West

APS Two separate Decommissioning Trust Agreements (relating to PVGS Units 1 and 3, respectively), each dated July 1, 1991, between APS and Mellon Bank, N.A., as Decommissioning Trustee 10.2 to APS’s September 30, 1991 Form 10-Q Report, File No.

1-4473 11/14/1991

10.1(a) Pinnacle West

1 unchanged sentence

1 to Decommissioning Trust Agreement (PVGS Unit 1), dated as of December 1, 1994

10.1 to APS’s 1994 Form 10-K Report, File No.

1-4473 3/30/1995

10.1 to APS 1994 Form 10-K Report 3/30/1995

10.1(b) Pinnacle West

1 unchanged sentence

1 to Decommissioning Trust Agreement (PVGS Unit 3), dated as of December 1, 1994

10.2 to APS’s 1994 Form 10-K Report, File No.

1-4473 3/30/1995

10.2 to APS 1994 Form 10-K Report 3/30/1995

10.1(c) Pinnacle West

1 unchanged sentence

2 to APS Decommissioning Trust Agreement (PVGS Unit 1) dated as of July 1, 1991

10.4 to APS’s 1996 Form 10-K Report, File No.

1-4473 3/28/1997

10.4 to APS 1996 Form 10-K Report 3/28/1997

10.1(d) Pinnacle West

1 unchanged sentence

2 to APS Decommissioning Trust Agreement (PVGS Unit 3) dated as of July 1, 1991

10.6 to APS’s 1996 Form 10-K Report, File No.

1-4473 3/28/1997

10.6 to APS 1996 Form 10-K Report 3/28/1997

10.1(e) Pinnacle West

1 unchanged sentence

3 to the Decommissioning Trust Agreement (PVGS Unit 1), dated as of March 18, 2002

10.2 to Pinnacle West’s March 31, 2002 Form 10-Q Report, File No.

1-8962 5/15/2002

10.2 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002

10.1(f) Pinnacle West

1 unchanged sentence

3 to the Decommissioning Trust Agreement (PVGS Unit 3), dated as of March 18, 2002

10.4 to Pinnacle West’s March 2002 Form 10-Q Report, File No.

1-8962 5/15/2002

10.4 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002

10.1(g) Pinnacle West

1 unchanged sentence

4 to the Decommissioning Trust Agreement (PVGS Unit 1), dated as of December 19, 2003

10.3 to Pinnacle West’s 2003 Form 10-K Report, File No.

1-8962 3/15/2004

10.3 to Pinnacle West 2003 Form 10-K Report 3/15/2004

10.1(h) Pinnacle West

1 unchanged sentence

4 to the Decommissioning Trust Agreement (PVGS Unit 3), dated as of December 19, 2003

10.5 to Pinnacle West’s 2003 Form 10-K Report, File No.

1-8962 3/15/2004

10.5 to Pinnacle West 2003 Form 10-K Report 3/15/2004

10.1(i) Pinnacle West

1 unchanged sentence

5 to the Decommissioning Trust Agreement (PVGS Unit 1), dated as of May 1, 2007

10.1 to Pinnacle West/APS March 31, 2007 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/9/2007

10.1 to Pinnacle West/APS March 31, 2007 Form 10-Q Report 5/9/2007

10.1(j) Pinnacle West

1 unchanged sentence

5 to the Decommissioning Trust Agreement (PVGS Unit 3), dated as of May 1, 2007

10.2 to Pinnacle West/APS March 31, 2007 Form 10-Q Report, File Nos.

1-8962 and 104473 5/9/2007

10.2 to Pinnacle West/APS March 31, 2007 Form 10-Q Report 5/9/2007

Registrant(s) Description Previously Filed as Exhibit:

10.2 Pinnacle West

APS Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2) dated as of January 31, 1992, among APS, Mellon Bank, N.A., as Decommissioning Trustee, and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee under two separate Trust Agreements, each with a separate Equity Participant, and as Lessor under two separate Facility Leases, each relating to an undivided interest in PVGS Unit 2 10.1 to Pinnacle West’s 1991 Form 10-K Report, File No.

1-8962 3/26/1992

10.2(a) Pinnacle West

APS First Amendment to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of November 1, 1992 10.2 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

APS First Amendment to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of November 1, 1992 10.2 to APS 1992 Form 10-K Report 3/30/1993

10.2(b) Pinnacle West

1 unchanged sentence

2 to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of November 1, 1994

10.3 to APS’s 1994 Form 10-K Report, File No.

1-4473 3/30/1995

10.3 to APS 1994 Form 10-K Report 3/30/1995

10.2(c) Pinnacle West

1 unchanged sentence

3 to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of June 20, 1996

10.1 to APS’s June 30, 1996 Form 10-Q Report, File No.

1-4473 8/9/1996

10.1 to APS June 30, 1996 Form 10-Q Report 8/9/1996

10.2(d) Pinnacle West

1 unchanged sentence

4 to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2) dated as of December 16, 1996

APS 10.5 to APS’s 1996 Form 10-K Report, File No.

1-4473 3/28/1997

APS 10.5 to APS 1996 Form 10-K Report 3/28/1997

10.2(e) Pinnacle West

1 unchanged sentence

5 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of June 30, 2000

10.1 to Pinnacle West’s March 31, 2002 Form 10-Q Report, File No.

1-8962 5/15/2002

10.1 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002

10.2(f) Pinnacle West

1 unchanged sentence

6 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of March 18, 2002

10.3 to Pinnacle West’s March 31, 2002 Form 10-Q Report, File No.

1-8962 5/15/2002

10.3 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002

10.2(g) Pinnacle West

1 unchanged sentence

7 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of December 19, 2003

10.4 to Pinnacle West’s 2003 Form 10-K Report, File No.

1-8962 3/15/2004

10.4 to Pinnacle West 2003 Form 10-K Report 3/15/2004

10.2(h) Pinnacle West

1 unchanged sentence

8 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of April 1, 2007

10.1.2h to Pinnacle West’s 2007 Form 10-K Report, File No.

1-8962 2/27/2008

Pinnacle West

APS Arizona Public Service Company Deferred Compensation Plan, as restated, effective January 1, 1984, and the second and third amendments thereto, dated December 22, 1986, and December 23, 1987, respectively 10.4 to APS’s 1988 Form 10-K Report, File No.

1-4473 3/8/1989

Registrant(s) Description Previously Filed as Exhibit:

Pinnacle West

APS Third Amendment to the Arizona Public Service Company Deferred Compensation Plan, effective as of January 1, 1993

10.3A to APS’s 1993 Form 10-K Report, File No.

1-4473 3/30/1994

Pinnacle West

APS Fourth Amendment to the Arizona Public Service Company Deferred Compensation Plan effective as of May 1, 1993

10.2 to APS’s September 30, 1994 Form 10-Q Report, File No.

1-4473 11/10/1994

Pinnacle West

APS Fifth Amendment to the Arizona Public Service Company Deferred Compensation Plan effective January 1, 1997

10.3A to APS’s 1996 Form 10-K Report, File No.

1-4473 3/28/1997

Pinnacle West

APS Sixth Amendment to the Arizona Public Service Company Deferred Compensation Plan effective January 1, 2001

10.8A to Pinnacle West’s 2000 Form 10-K Report, File No.

1-8962 3/14/2001

10.1.2h to Pinnacle West 2007 Form 10-K Report 2/27/2008

Pinnacle West

APS Arizona Public Service Company Directors’ Deferred Compensation Plan, as restated, effective January 1, 1986 10.1 to APS’s June 30, 1986 Form 10-Q Report, File No.

1-4473 8/13/1986

APS Arizona Public Service Company Directors’ Deferred Compensation Plan, as restated, effective January 1, 1986 10.1 to APS June 30, 1986 Form 10-Q Report 8/13/1986

Pinnacle West

APS Second Amendment to the Arizona Public Service Company Directors’ Deferred Compensation Plan, effective as of January 1, 1993

10.2A to APS’s 1993 Form 10-K Report, File No.

1-4473 3/30/1994

10.2A to APS 1993 Form 10-K Report 3/30/1994

Registrant(s) Description Previously Filed as Exhibit:

Pinnacle West

APS Third Amendment to the Arizona Public Service Company Directors’ Deferred Compensation Plan, effective as of May 1, 1993

10.1 to APS’s September 30, 1994 Form 10-Q Report, File No.

1-4473 11/10/1994

10.1 to APS September 30, 1994 Form 10-Q Report 11/10/1994

Pinnacle West

APS Fourth Amendment to the Arizona Public Service Company Directors Deferred Compensation Plan, effective as of January 1, 1999

10.8A to Pinnacle West’s 1999 Form 10-K Report, File No.

1-8962 3/30/2000

Pinnacle West

APS Trust for the Pinnacle West Capital Corporation, Arizona Public Service Company and SunCor Development Company Deferred Compensation Plans dated August 1, 1996

10.14A to Pinnacle West’s 1999 Form 10-K Report, File No.

1-8962 3/30/2000

Pinnacle West

APS First Amendment dated December 7, 1999 to the Trust for the Pinnacle West Capital Corporation, Arizona Public Service Company and SunCor Development Company Deferred Compensation Plans

10.15A to Pinnacle West’s 1999 Form 10-K Report, File No.

1-8962 3/30/2000

Pinnacle West

APS Pinnacle West Capital Corporation, Arizona Public Service Company, SunCor Development Company and El Dorado Investment Company Deferred Compensation Plan as amended and restated effective January 1, 1996

10.10A to APS’s 1995 Form 10-K Report, File No.

1-4473 3/29/1996

Registrant(s) Description Previously Filed as Exhibit:

Pinnacle West

APS First Amendment effective as of January 1, 1999, to the Pinnacle West Capital Corporation, Arizona Public Service Company, SunCor Development Company and El Dorado Investment Company Deferred Compensation Plan

10.7A to Pinnacle West’s 1999 Form 10-K Report, File No.

1-8962 3/30/2000

Pinnacle West

APS Second Amendment effective January 1, 2000 to the Pinnacle West Capital Corporation, Arizona Public Service Company, SunCor Development Company and El Dorado Investment Company Deferred Compensation Plan

10.10A to Pinnacle West’s 1999 Form 10-K Report, File No.

1-8962 3/30/2000

Pinnacle West

APS Third Amendment to the Pinnacle West Capital Corporation, Arizona Public Service Company, SunCor Development Company and El Dorado Investment Company Deferred Compensation Plan, effective as of January 1, 2002

10.3 to Pinnacle West’s March 31, 2003 Form 10-Q Report, File No.

1-8962 5/15/2003

Pinnacle West

APS Fourth Amendment to the Pinnacle West Capital Corporation, Arizona Public Service Company, SunCor Development Company and El Dorado Investment Company Deferred Compensation Plan, effective January 1, 2003

10.64b to Pinnacle West/APS 2005 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/13/2006

10.8A to Pinnacle West 1999 Form 10-K Report 3/30/2000

Pinnacle West

APS Deferred Compensation Plan of 2005 for Employees of Pinnacle West Capital Corporation and Affiliates (as amended and restated effective January 1, 2016)

10.2.5 to Pinnacle West/APS 2015 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/19/2016

Pinnacle West

APS Pinnacle West Capital Corporation Supplemental Excess Benefit Retirement Plan, amended and restated as of January 1, 2003

10.7A to Pinnacle West’s 2003 Form 10-K Report, File No.

1-8962 3/15/2004

Pinnacle West

APS Pinnacle West Capital Corporation Supplemental Excess Benefit Retirement Plan, as amended and restated, dated December 18, 2003

10.48b to Pinnacle West/APS 2005 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/13/2006

10.2.5 to Pinnacle West/APS 2015 Form 10-K Report 2/19/2016

Pinnacle West

APS Pinnacle West Capital Corporation Supplemental Excess Benefit Retirement Plan of 2005 (as amended and restated effective January 1, 2016)

10.3.2 to Pinnacle West/APS 2015 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/19/2016

10.3.2 to Pinnacle West/APS 2015 Form 10-K Report 2/19/2016

Pinnacle West

APS First Amendment to the Pinnacle West Capital Corporation Supplemental Excess Benefit Retirement Plan of 2005 (as amended and restated effective January 1, 2016)

10.3.2a to Pinnacle West/APS 2016 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/24/2017

Registrant(s) Description Previously Filed as Exhibit:

10.3.2a to Pinnacle West/APS 2016 Form 10-K Report 2/24/2017

Pinnacle West

APS Second Amendment to the Pinnacle West Capital Corporation Supplemental Excess Benefit Retirement Plan of 2005 (as amended and restated effective January 1, 2016)

10.3.2b to Pinnacle West/APS 2017 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/23/2018

Pinnacle West

APS Offer of Employment Letter dated July 19, 2018 between Pinnacle West and Robert E.

10.4.5 to Pinnacle West/APS 2019 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/21/2020

Pinnacle West

APS Supplemental Agreement dated October 17, 2018 between Pinnacle West and Robert E.

10.4.6 to Pinnacle West/APS 2019 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/21/2020

Pinnacle West

APS Discretionary Credit Award Agreement dated June 19, 2019 between Pinnacle West and Theodore Geisler

10.4.4 to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/24/2021

10.3.2b to Pinnacle West/APS 2017 Form 10-K Report 2/23/2018

Pinnacle West

APS Offer of Employment Letter dated May 19, 2022 between APS and Adam Heflin

10.4(8) to Pinnacle West/APS 2022 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/27/2023

Pinnacle West

APS Discretionary Credit Award Agreement dated June 21, 2019 between APS and Jacob Tetlow

10.4(9) to Pinnacle West/APS 2022 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/27/2023

Pinnacle West

APS First Amendment to Discretionary Credit Award Agreement dated February 21, 2021 between APS and Jacob Tetlow

10.4(10) to Pinnacle West/APS 2022 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/27/2023

Pinnacle West

APS Key Executive Employment and Severance Agreement between Pinnacle West and certain executive officers of Pinnacle West and its subsidiaries

10.77bd to Pinnacle West/APS 2005 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/13/2006

10.5(1)(a) bd

Pinnacle West

APS Form of Amended and Restated Key Executive Employment and Severance Agreement between Pinnacle West and certain officers of Pinnacle West and its subsidiaries

10.4 to Pinnacle West/APS September 30, 2007 Form 10-Q Report, File Nos.

1-8962 and 1-4473 11/6/2007

Pinnacle West

APS Form of Key Executive Employment and Severance Agreement between Pinnacle West and certain officers of Pinnacle West and its subsidiaries

10.3 to Pinnacle West/APS September 30, 2007 Form 10-Q Report, File Nos.

1-8962 and 1-4473 11/6/2007

Pinnacle West

APS Form of Key Executive Employment and Severance Agreement between Pinnacle West and certain officers of Pinnacle West and its subsidiaries

10.5.3 to Pinnacle West/APS 2009 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/19/2010

Pinnacle West

APS Form of Key Executive Employment and Severance Agreement between Pinnacle West and certain officers of Pinnacle West and its subsidiaries

10.5.4 to Pinnacle West/APS 2012 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/22/2013

10.4(8) to Pinnacle West/APS 2022 Form 10-K Report 2/27/2023

Pinnacle West

APS Form of Key Executive Employment and Severance Agreement between Pinnacle West and certain officers of Pinnacle West and its subsidiaries

10.4 to Pinnacle West/APS June 30, 2021 Form 10-Q Report, File Nos.

1-8962 and 1-4473 8/5/2021

Registrant(s) Description Previously Filed as Exhibit:

10.4 to Pinnacle West/APS June 30, 2021 Form 10-Q Report 8/5/2021

Pinnacle West Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

Appendix B to the Proxy Statement for Pinnacle West’s 2007 Annual Meeting of Shareholders, File No.

1-8962 4/20/2007

Appendix B to the Proxy Statement for Pinnacle West’s 2007 Annual Meeting of Shareholders 4/20/2007

Pinnacle West First Amendment to the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

10.2 to Pinnacle West/APS April 18, 2007 Form 8-K Report, File No.

1-8962 4/20/2007

10.6(1)(b) bd

Pinnacle West

APS Performance Share Agreement under the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

10.3 to Pinnacle West/APS March 31, 2009 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/5/2009

10.6(1)(c) bd

Pinnacle West Form of Performance Share Agreement under the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

10.1 to Pinnacle West/APS June 30, 2010 Form 10-Q Report, File No.

1-8962 8/3/2010

10.6(1)(d) bd

Pinnacle West Form of Restricted Stock Unit Agreement under the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

10.2 to Pinnacle West/APS June 30, 2010 Form 10-Q Report, File No.

1-8962 8/3/2010

10.6(1)(e) bd

Pinnacle West Form of Performance Share Agreement under the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

10.4 to Pinnacle West/APS March 31, 2011 Form 10-Q Report, File No.

1-8962 4/29/2011

10.6(1)(f) bd

Pinnacle West Form of Restricted Stock Unit Agreement under the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan

10.5 to Pinnacle West/APS March 31, 2011 Form 10-Q Report, File No.

1-8962 4/29/2011

10.6(1)(g) bd

10.2 to Pinnacle West/APS April 18, 2007 Form 8-K Report 4/20/2007

Pinnacle West Form of Restricted Stock Unit Agreement under the Pinnacle West Capital Corporation 2007 Long-Term Incentive Plan (Supplemental 2010 Award)

10.6 to Pinnacle West/APS March 31, 2011 Form 10-Q Report, File No.

1-8962 4/29/2011

Pinnacle West Description of Annual Stock Grants to Non-Employee Directors

10.1 to Pinnacle West/APS September 30, 2007 Form 10-Q Report, File No.

1-8962 11/6/2007

Pinnacle West Description of Annual Stock Grants to Non-Employee Directors

10.2 to Pinnacle West/APS June 30, 2008 Form 10-Q Report, File No.

1-8962 8/7/2008

Pinnacle West APS Summary of 2025 Variable Incentive Plan and Officer Variable Incentive Plan

10.6 to Pinnacle West/APS March 31, 2011 Form 10-Q Report 4/29/2011

Pinnacle West

APS Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

Appendix A to the Proxy Statement for Pinnacle West’s 2012 Annual Meeting of Shareholders, File No.

1-8962 3/29/2012

10.6(5)(a) bd

Appendix A to the Proxy Statement for Pinnacle West’s 2012 Annual Meeting of Shareholders 3/29/2012

Pinnacle West First Amendment to the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

Appendix A to the Proxy Statement for Pinnacle West’s 2017 Annual Meeting of Shareholders, File No.

1-8962 3/31/2017

10.6(5)(b) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

10.1 to Pinnacle West/APS March 31, 2012 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/3/2012

Appendix A to the Proxy Statement for Pinnacle West’s 2017 Annual Meeting of Shareholders 3/31/2017

Registrant(s) Description Previously Filed as Exhibit:

10.6(5)(c) bd

Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

10.2 to Pinnacle West/APS March 31, 2012 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/3/2012

10.6(5)(d) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

10.6.8c to Pinnacle West/APS 2013 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/21/2014

10.6(5)(e) bd

Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

10.6.8d to Pinnacle West/APS 2013 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/21/2014

10.6(5)(f) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

10.6.6e to Pinnacle West/APS 2015 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/19/2016

10.6(5)(g) bd

Pinnacle West Pinnacle West Capital Corporation 2021 Long-Term Incentive P lan (as amended by the First Amendment)

Appendix A to the Proxy Statement for Pinnacle West’s 2022 Annual Meeting of Shareholders 5/19/2023

Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.6f to Pinnacle West/APS 2016 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/24/2017

10.6(5)(h) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2012 Long-Term Incentive Plan

10.6.6g to Pinnacle West/APS 2016 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/24/2017

10.6(5)(i) bd

10.6.5n to Pinnacle West/APS 2020 Form 10-K Report 2/25/2022

Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.2 to Pinnacle West/APS March 31, 2019 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/1/2019

10.6(5)(j) bd

10.6.5o to Pinnacle West/APS 2020 Form 10-K Report 2/25/2022

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.3 to Pinnacle West/APS March 31, 2019 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/1/2019

10.6(5)(k) bd

10.6.5p to Pinnacle West/APS 2020 Form 10-K Report 2/25/2022

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.1 to Pinnacle West/APS March 31, 2020 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/8/2020

10.6(5)(l) bd

10.6.5q to Pinnacle West/APS 2020 Form 10-K Report 2/25/2022

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5k to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/24/2021

10.6(5)(m) bd

10.6.5r to Pinnacle West/APS 2020 Form 10-K Report 2/25/2022

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5l to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/24/2021

10.6(5)(n) bd

Pinnacle West

APS Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

Appendix A to the Proxy Statement for Pinnacle West’s 2021 Annual Meeting of Shareholders, File No.

1-8962 4/01/2021

10.6(5)(o) bd

Pinnacle West First Amendment to the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

Appendix A to the Proxy Statement for Pinnacle West’s 2022 Annual Meeting of Shareholders, File No.

1-8962 5/19/2023

Registrant(s) Description Previously Filed as Exhibit:

10.6(5)(p) bd

Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5n to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/25/2022

10.6(5)(q) bd

10.6.5s to Pinnacle West/APS 2020 Form 10-K Report 2/25/2022

Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5o to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/25/2022

10.6(5)(r) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5p to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/25/2022

10.6(5)(s) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5q to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/25/2022

10.6(5)(t) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5r to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/25/2022

10.6(5)(u) bd

Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan

10.6.5s to Pinnacle West/APS 2020 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/25/2022

10.6(5)(v) bd

Pinnacle West Master Amendment to Performance Share Agreements

10.3 to Pinnacle West/APS March 31, 2012 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/3/2012

10.6(5)(w) bd

Pinnacle West Master Amendment to Restricted Stock Unit Agreements

10.4 to Pinnacle West/APS March 31, 2012 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/3/2012

Pinnacle West APS Summary of 2026 Variable Incentive Plan and Officer Variable Incentive Plan

10.12 Pinnacle West

11 unchanged sentences

2 to Supplemental and Additional Indenture of Lease with the Navajo Nation dated March 7, 2011

10.1 to Pinnacle West/APS March 31, 2011 Form 10-Q Report, File Nos.

1-8962 and 1-4473 4/29/2011

10.1 to Pinnacle West/APS March 31, 2011 Form 10-Q Report 4/29/2011

Registrant(s) Description Previously Filed as Exhibit:

10.12(d) Pinnacle West

1 unchanged sentence

3 to Supplemental and Additional Indenture of Lease with the Navajo Nation dated March 7, 2011

10.2 to Pinnacle West/APS March 31, 2011 Form 10-Q Report, File Nos.

1-8962 and 1-4473 4/29/2011

10.2 to Pinnacle West/APS March 31, 2011 Form 10-Q Report 4/29/2011

10.13 Pinnacle West

1 unchanged sentence

2-59644 9/1/1977

Registrant(s) Description Previously Filed as Exhibit:

10.13(a) Pinnacle West

11 unchanged sentences

APS Four Corners Project Co-Tenancy Agreement, conformed copy up through and including Amendment No.

11, dated June 30, 2018, among APS, Public Service Company of New Mexico, SRP, Tucson Electric Power Company and Navajo Transitional Energy Company, LLC

10.7.4c to Pinnacle West/APS June 30, 2018 Form 10-Q Report, File Nos.

1-8962 and 1-4473 8/3/2018

10.7(4)(a) Pinnacle West

APS Four Corners Project Co-Tenancy Agreement, conformed copy up through and including Amendment No.

13, dated June 25, 2021, among APS, Public Service Company of New Mexico, SRP, Tucson Electric Power Company and Navajo

10.5 to Pinnacle West/APS June 30, 2021 Form 10-Q Report, File Nos.

1-8962 and 1-4473 8/5/2021

10.8(1) Pinnacle West

APS Indenture of Lease, Navajo Units 1, 2, and 3 5(g) to APS’s Form S-7 Registration Statement, File No.

2-36505 3/23/1970

10.8(2) Pinnacle West

APS Application of Grant of rights-of-way and easements, Navajo Plant 5(h) to APS Form S-7 Registration Statement, File No.

2-36505 3/23/1970

10.8(3) Pinnacle West

APS Water Service Contract Assignment with the United States Department of Interior, Bureau of Reclamation, Navajo Plant 5(l) to APS’s Form S-7 Registration Statement, File No.

2-394442 3/16/1971

10.8(4) Pinnacle West

APS Navajo Project Co-Tenancy Agreement dated as of March 23, 1976, and Supplement No.

1 thereto dated as of October 18, 1976, Amendment No.

1 dated as of July 5, 1988, and Amendment No.

2 dated as of June 14, 1996;

Amendment No.

3 dated as of February 11, 1997;

Amendment No.

4 dated as of January 21, 1997;

Amendment No.

5 dated as of January 23, 1998;

Amendment No.

6 dated as of July 31, 1998

10.107 to Pinnacle West/APS 2005 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/13/2006

10.8(5) Pinnacle West

APS Navajo Project Participation Agreement dated as of September 30, 1969, and Amendment and Supplement No.

1 dated as of January 16, 1970, and Coordinating Committee Agreement No.

1 dated as of September 30, 1971

10.108 to Pinnacle West/APS 2005 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/13/2006

Registrant(s) Description Previously Filed as Exhibit:

10.5 to Pinnacle West/APS June 30, 2021 Form 10-Q Report 8/5/2021

10.15(a) Pinnacle West

APS Four Corners Project Co-Tenancy Agreement, Amendment to Amendment No.

13, dated July 1, 2024, among APS, Public Service Company of New Mexico, SRP, Tucson Electric Power Company and Navajo

10.16 Pinnacle West

APS Arizona Nuclear Power Project (“ANPP”) Participation Agreement, dated August 23, 1973, among APS, SRP, SCE, Public Service Company of New Mexico, El Paso Electric Company, Southern California Public Power Authority, and Department of Water and Power of the City of Los Angeles, and amendments 1-12 thereto 10.1 to APS’s 1988 Form 10-K Report, File No.

1-4473 3/8/1989

10.16(a) Pinnacle West

APS Amendment No.

13, dated as of April 22, 1991, to ANPP Participation Agreement, dated August 23, 1973, among APS, SRP, SCE, Public Service Company of New Mexico, El Paso Electric Company, Southern California Public Power Authority, and Department of Water and Power of the City of Los Angeles 10.1 to APS’s March 31, 1991 Form 10-Q Report, File No.

1-4473 5/15/1991

Registrant(s) Description Previously Filed as Exhibit:

10.16(b) Pinnacle West

1 unchanged sentence

14 to ANPP Participation Agreement, dated August 23, 1973, among APS, SRP, SCE, Public Service Company of New Mexico, El Paso Electric Company, Southern California Public Power Authority, and Department of Water and Power of the City of Los Angeles

99.1 to Pinnacle West’s June 30, 2000 Form 10-Q Report, File No.

1-8962 8/14/2000

99.1 to Pinnacle West June 30, 2000 Form 10-Q Report 8/14/2000

10.16(c) Pinnacle West

1 unchanged sentence

15, dated November 29, 2010, to ANPP Participation Agreement, dated August 23, 1973, among APS, SRP, SCE, Public Service Company of New Mexico, El Paso Electric Company, Southern California Public Power Authority, and Department of Water and Power of the City of Los Angeles

10.9.1c to Pinnacle West/APS 2010 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/18/2011

10.9.1c to Pinnacle West/APS 2010 Form 10-K Report 2/18/2011

10.16(d) Pinnacle West

1 unchanged sentence

16, dated April 28, 2014, to ANPP Participation Agreement, dated August 23, 1973, among APS, SRP, SCE, Public Service Company of New Mexico, El Paso Electric Company, Southern California Public Power Authority, and Department of Water and Power of the City of Los Angeles

10.2 to Pinnacle West/APS March 31, 2014 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/2/2014

10.2 to Pinnacle West/APS March 31, 2014 Form 10-Q Report 5/2/2014

10.17 Pinnacle West

APS Asset Purchase and Power Exchange Agreement dated September 21, 1990 between APS and PacifiCorp, as amended as of October 11, 1990 and as of July 18, 1991 10.1 to APS’s June 30, 1991 Form 10-Q Report, File No.

1-4473 8/8/1991

APS Asset Purchase and Power Exchange Agreement dated September 21, 1990 between APS and PacifiCorp, as amended as of October 11, 1990 and as of July 18, 1991 10.1 to APS June 30, 1991 Form 10-Q Report 8/8/1991

10.18 Pinnacle West

APS Long-Term Power Transaction Agreement dated September 21, 1990 between APS and PacifiCorp, as amended as of October 11, 1990, and as of July 8, 1991 10.2 to APS’s June 30, 1991 Form 10-Q Report, File No.

1-4473 8/8/1991

Registrant(s) Description Previously Filed as Exhibit:

APS Long-Term Power Transaction Agreement dated September 21, 1990 between APS and PacifiCorp, as amended as of October 11, 1990, and as of July 8, 1991 10.2 to APS June 30, 1991 Form 10-Q Report 8/8/1991

10.18(a) Pinnacle West

1 unchanged sentence

1 dated April 5, 1995 to the Long-Term Power Transaction Agreement and Asset Purchase and Power Exchange Agreement between PacifiCorp and APS

10.3 to APS’s 1995 Form 10-K Report, File No.

1-4473 3/29/1996

10.3 to APS 1995 Form 10-K Report 3/29/1996

10.19 Pinnacle West

APS Restated Transmission Agreement between PacifiCorp and APS dated April 5, 1995

10.4 to APS’s 1995 Form 10-K Report, File No.

1-4473 3/29/1996

10.4 to APS 1995 Form 10-K Report 3/29/1996

10.20 Pinnacle West

APS Reciprocal Transmission Service Agreement between APS and PacifiCorp dated as of March 2, 1994

10.6 to APS’s 1995 Form 10-K Report, File No.

1-4473 3/29/1996

10.11(1) Pinnacle West Second Amended and Restated Five-Year Credit Agreements dated as of April 10, 2023, among Pinnacle West, as Borrower, Barclays Bank PLC, as Agent, Co-Sustainability Structuring Agent and Issuing Bank, and the lenders and other parties thereto

10.1 to Pinnacle West/APS April 10, 2023 Form 8-K Report, File No.

1-8962 4/10/2023

10.11(1)(a) Pinnacle West Amendment No.

1 to the Second Amended and Restated Five-Year Credit Agreement, dated as of April 10, 2023, among Pinnacle West, as Borrower, Barclays Bank PLC, as Agent, Co-Sustainability Structuring Agent and Issuing Bank, and the lenders and other parties thereto

10.1 to Pinnacle West/APS August 2, 2024 Form 8-K Report, File Nos.

1-8962 and 1-4473 8/2/2024

10.6 to APS 1995 Form 10-K Report 3/29/1996

10.21 Pinnacle West Third Amended and Restated Five-Year Credit Agreements dated as of February 18, 2026 , among Pinnacle West, as Borrower, Barclays Bank PLC, as Agent and Issuing Bank, and the lenders and other parties thereto

10.1 to Pinnacle West/APS February 17, 2026 Form 8-K Report 2/19/2026

Registrant(s) Description Previously Filed as Exhibit:

10.22 Pinnacle West

APS Five-Year Credit Agreement dated as of April 10, 2023, among APS, as Borrower, Barclays Bank PLC, as Agent, Co-Sustainability Structuring Agent and Issuing Bank, and the lenders and other parties thereto

10.2 to Pinnacle West/APS April 10, 2023 Form 8-K Report, File No.

1-8962 4/10/2023

10.11(2)(a) APS Amendment No.

1 to the Five-Year Credit Agreement, dated as of April 10, 2023, among APS, as Borrower, Barclays Bank PLC, as Agent, Co-Sustainability Structuring Agent and Issuing Bank, and the lenders and other parties thereto

10.2 to Pinnacle West/APS August 2, 2024 Form 8-K Report, File Nos.

1-8962 and 1-4473 8/2/2024

APS Amen ded a nd Restated F ive-Year Credit Agreement dated as of February 18, 202 6 , among APS, as Borrower, Barclays Bank PLC, as Agent and Issuing Bank, and the lenders and other parties thereto

10.2 to Pinnacle West/APS February 17, 2026 Form 8-K Report 2/19/2026

10.23 Pinnacle West

APS Facility Lease, dated as of August 1, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its capacity as Owner Trustee, as Lessor, and APS, as Lessee 4.3 to APS’s Form 18 Registration Statement, File No.

33-9480 10/24/1986

Registrant(s) Description Previously Filed as Exhibit:

10.12(1)(a) c

Pinnacle West

10.23(a) Pinnacle West

APS Amendment No.

1, dated as of November 1, 1986, to Facility Lease, dated as of August 1, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its capacity as Owner Trustee, as Lessor, and APS, as Lessee 10.5 to APS’s September 30, 1986 Form 10-Q Report by means of Amendment No.

1 on December 3, 1986 Form 8, File No.

1-4473 12/4/1986

10.12(1)(b) c

Pinnacle West

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its capacity as Owner Trustee, as Lessor, and APS, as Lessee 10.5 to APS September 30, 1986 Form 10-Q Report by means of Amendment No.

1 on December 3, 1986 Form 8 12/4/1986

10.23(b) Pinnacle West

APS Amendment No.

2 dated as of June 1, 1987 to Facility Lease dated as of August 1, 1986 between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Lessor, and APS, as Lessee 10.3 to APS’s 1988 Form 10-K Report, File No.

1-4473 3/8/1989

10.12(1)(c) c

Pinnacle West

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Lessor, and APS, as Lessee 10.3 to APS 1988 Form 10-K Report 3/8/1989

10.23(c) Pinnacle West

APS Amendment No.

3, dated as of March 17, 1993, to Facility Lease, dated as of August 1, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Lessor, and APS, as Lessee 10.3 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

10.12(1)(d) c

Pinnacle West

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Lessor, and APS, as Lessee 10.3 to APS 1992 Form 10-K Report 3/30/1993

10.23(d) Pinnacle West

APS Amendment No.

1 unchanged sentence

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee under a Trust Agreement with Emerson Finance LLC, as Lessor, and APS, as Lessee

10.2 to Pinnacle West/APS September 30, 2015 Form 10-Q Report, File Nos.

1-8962 and 1-4473 10/30/2015

10.12(1)(e) c

Pinnacle West

APS Amendment No.

3, dated as of September 30, 2015, to Facility Lease, dated as of August 1, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee under a Trust Agreement with Security Pacific Capital Leasing Corporation, as Lessor, and APS, as Lessee

10.3 to Pinnacle West/APS September 30, 2015 Form 10-Q Report, File Nos.

1-8962 and 1-4473 10/30/2015

10.12(2) Pinnacle West

APS Facility Lease, dated as of December 15, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its capacity as Owner Trustee, as Lessor, and APS, as Lessee 10.1 to APS’s November 18, 1986 Form 8-K Report, File No.

1-4473 1/20/1987

Registrant(s) Description Previously Filed as Exhibit:

10.12(2)(a) Pinnacle West

APS Amendment No.

1, dated as of August 1, 1987, to Facility Lease, dated as of December 15, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Lessor, and APS, as Lessee 4.13 to APS’s Form 18 Registration Statement No.

33-9480 by means of August 1, 1987 Form 8-K Report, File No.

1-4473 8/24/1987

10.12(2)(b) Pinnacle West

APS Amendment No.

2, dated as of March 17, 1993, to Facility Lease, dated as of December 15, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Lessor, and APS, as Lessee 10.4 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

10.12(2)(c) Pinnacle West

APS Amendment No.

3, dated July 10, 2014, to Facility Lease, dated as of December 15, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to the First National Bank of Boston, as Lessor, and APS, as Lessee

10.2 to Pinnacle West/APS June 30, 2014 Form 10-Q Report, File Nos.

1-8962 and 1-4473 7/31/2014

10.12(2)(d) Pinnacle West

APS Amendment No.

4, dated April 1, 2021, to Facility Lease, dated as of December 15, 1986, between U.S.

Bank National Association, successor to State Street Bank and Trust Company, as successor to the First National Bank of Boston, as Lessor, and APS, as Lessee

10.1 to Pinnacle West/APS March 31, 2021 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/5/2021

10.13(1) Pinnacle West

APS Agreement between Pinnacle West Energy Corporation and APS for Transportation and Treatment of Effluent by and between Pinnacle West Energy Corporation and APS dated as of the 10th day of April, 2001

10.102 to Pinnacle West/APS 2004 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/16/2005

10.2 to Pinnacle West/APS September 30, 2015 Form 10-Q Report 10/30/2015

10.24 Pinnacle West

APS Agreement for the Transfer and Use of Wastewater and Effluent by and between APS, SRP and PWE dated June 1, 2001

10.103 to Pinnacle West/APS 2004 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/16/2005

10.103 to Pinnacle West/APS 2004 Form 10-K Report 3/16/2005

10.25 Pinnacle West

APS Agreement for the Sale and Purchase of Wastewater Effluent dated November 13, 2000, by and between the City of Tolleson, Arizona, APS and SRP

10.104 to Pinnacle West/APS 2004 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/16/2005

10.104 to Pinnacle West/APS 2004 Form 10-K Report 3/16/2005

Registrant(s) Description Previously Filed as Exhibit:

10.26 Pinnacle West

APS Operating Agreement for the Co-Ownership of Wastewater Effluent dated November 16, 2000 by and between APS and SRP

10.105 to Pinnacle West/APS 2004 Form 10-K Report, File Nos.

1-8962 and 1-4473 3/16/2005

Registrant(s) Description Previously Filed as Exhibit:

10.105 to Pinnacle West/APS 2004 Form 10-K Report 3/16/2005

10.27 Pinnacle West

APS Municipal Effluent Purchase and Sale Agreement dated April 29, 2010, by and between City of Phoenix, City of Mesa, City of Tempe, City of Scottsdale, City of Glendale, APS and SRP

10.1 to Pinnacle West/APS March 31, 2010 Form 10-Q Report, File Nos.

1-8962 and 1-4473 5/6/2010

10.1 to Pinnacle West/APS March 31, 2010 Form 10-Q Report 5/6/2010

10.28 Pinnacle West

3 unchanged sentences

APS Territorial Agreement between APS and SRP

10.1 to APS’s March 31, 1998 Form 10-Q Report, File No.

1-4473 5/15/1998

10.1 to APS March 31, 1998 Form 10-Q Report 5/15/1998

10.30 Pinnacle West

APS Power Coordination Agreement between APS and SRP

10.2 to APS’s March 31, 1998 Form 10-Q Report, File No.

1-4473 5/15/1998

10.2 to APS March 31, 1998 Form 10-Q Report 5/15/1998

10.31 Pinnacle West

APS Memorandum of Agreement between APS and SRP

10.3 to APS’s March 31, 1998 Form 10-Q Report, File No.

1-4473 5/15/1998

10.3 to APS March 31, 1998 Form 10-Q Report 5/15/1998

10.31(a) Pinnacle West

APS Addendum to Memorandum of Agreement between APS and SRP dated as of May 19, 1998

10.2 to APS’s May 19, 1998 Form 8-K Report, File No.

1-4473 6/26/1998

10.2 to APS May 19, 1998 Form 8-K Report 6/26/1998

10.32 Pinnacle West Forward Sale Agreement, dated February 28, 2024, between Pinnacle West and Wells Fargo Bank, National Association

10.1 to Pinnacle West February 28, 2024 Form 8-K Report, File No.

1-8962 3/4/2024

10.16(2) Pinnacle West Additional Forward Sale Agreement, dated February 28, 2024, between Pinnacle West and Wells Fargo Bank, National Association

10.2 to Pinnacle West February 28, 2024 Form 8-K Report, File No.

1-8962 3/4/2024

10.17(1) Pinnacle West Forward Sale Agreement, dated February 28, 2024, between Pinnacle West and Mizuho Markets Americas LLC (with Mizuho Securities USA LLC acting as its agent)

10.3 to Pinnacle West February 28, 2024 Form 8-K Report, File No.

1-8962 3/4/2024

10.17(2) Pinnacle West Additional Forward Sale Agreement, dated February 28, 2024, between Pinnacle West and Mizuho Markets Americas LLC (with Mizuho Securities USA LLC acting as its agent)

10.4 to Pinnacle West February 28, 2024 Form 8-K Report, File No.

1-8962 3/4/2024

10.1 to Pinnacle West February 28, 2024 Form 8-K Report 3/4/2024

10.32(a) Pinnacle West Additional Forward Sale Agreement, dated February 28, 2024, between Pinnacle West and Wells Fargo Bank, National Association

10.2 to Pinnacle West February 28, 2024 Form 8-K Report 3/4/2024

10.32(b) Pinnacle West Amendment , dated as of August 28, 2025, to Forward Sale Agreement, dated February 28, 2024 , and Additional Forward Sale Agreement, dated February 2 9 , 2024 , between the Company and Wells Fargo Bank, National Association

10.1 to Pinnacle West September 2, 2025 Form 8-K Report 9/2/2025

19.1 Pinnacle West Securities Trading Policy of Pinnacle West

19.1 to Pinnacle West/APS 2024 Form 10-K Report 2/25/2025

21.1 Pinnacle West Subsidiaries of Pinnacle West

21.1 to Pinnacle West/APS 2024 Form 10-K Report 2/25/2025

23.1 Pinnacle West Consent of Deloitte & Touche LLP

23.2 APS Consent of Deloitte & Touche LLP

31.1 Pinnacle West Certificate of Jeffrey B.

Guldner, Chief Executive Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

Registrant(s) Description Previously Filed as Exhibit:

31.1 Pinnacle West Certificate of Theodore N.

Geisler , Chief Executive Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

31.2 Pinnacle West Certificate of Andrew Cooper, Chief Financial Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

31.3 APS Certificate of Jeffrey B.

Guldner, Chief Executive Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

Registrant(s) Description Previously Filed as Exhibit:

31.3 APS Certificate of Theodore N.

Geisle r , Chief Executive Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

31.4 APS Certificate of Andrew Cooper, Chief Financial Officer, pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act, as amended

4 unchanged sentences

97 Pinnacle West Policy Relating to Recovery of Erroneously Awarded Compensation

97 to Pinnacle West/APS 2023 Form 10-K Report, File Nos.

1-8962 and 1-4473 2/27/2024

Pinnacle West

APS Participation Agreement, dated as of August 1, 1986, among PVGS Funding Corp., Inc., Bank of America National Trust and Savings Association, State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its individual capacity and as Owner Trustee, Chemical Bank, in its individual capacity and as Indenture Trustee, APS, and the Equity Participant named therein 28.1 to APS’s September 30, 1992 Form 10-Q Report, File No.

1-4473 11/9/1992

97 to Pinnacle West/APS 2023 Form 10-K Report 2/27/2024

99.1 Pinnacle West

99.1(a) Pinnacle West

APS Amendment No.

1 dated as of November 1, 1986, to Participation Agreement, dated as of August 1, 1986, among PVGS Funding Corp., Inc., Bank of America National Trust and Savings Association, State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its individual capacity and as Owner Trustee, Chemical Bank, in its individual capacity and as Indenture Trustee, APS, and the Equity Participant named therein 10.8 to APS’s September 30, 1986 Form 10-Q Report by means of Amendment No.

1, on December 3, 1986 Form 8, File No.

1-4473 12/4/1986

1 dated as of November 1, 1986, to Participation Agreement, dated as of August 1, 1986, among PVGS Funding Corp., Inc., Bank of America National Trust and Savings Association, State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its individual capacity and as Owner Trustee, Chemical Bank, in its individual capacity and as Indenture Trustee, APS, and the Equity Participant named therein 10.8 to APS September 30, 1986 Form 10-Q Report by means of Amendment No.

1 on December 3, 1986 Form 8 12/4/1986

Registrant(s) Description Previously Filed as Exhibit:

Pinnacle West

99.1(b) Pinnacle West

APS Amendment No.

2, dated as of March 17, 1993, to Participation Agreement, dated as of August 1, 1986, among PVGS Funding Corp., Inc., PVGS II Funding Corp., Inc., State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its individual capacity and as Owner Trustee, Chemical Bank, in its individual capacity and as Indenture Trustee, APS, and the Equity Participant named therein 28.4 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

99.2 Pinnacle West

APS Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease, dated as of August 1, 1986, between State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, and Chemical Bank, as Indenture Trustee 4.5 to APS’s Form 18 Registration Statement, File No.

33-9480 10/24/1986

Pinnacle West

99.2(a) Pinnacle West

APS Supplemental Indenture No.

1, dated as of November 1, 1986 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease, dated as of August 1, 1986, between State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, and Chemical Bank, as Indenture Trustee 10.6 to APS’s September 30, 1986 Form 10-Q Report by means of Amendment No.

1 on December 3, 1986 Form 8, File No.

1-4473 12/4/1986

Pinnacle West

1 on December 3, 1986 Form 8 12/4/1986

99.2(b) Pinnacle West

APS Supplemental Indenture No.

2 to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease, dated as of August 1, 1986, between State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, and Chemical Bank, as Lease Indenture Trustee 4.4 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

Pinnacle West

APS Assignment, Assumption and Further Agreement, dated as of August 1, 1986, between APS and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee 28.3 to APS’s Form 18 Registration Statement, File No.

33-9480 10/24/1986

Pinnacle West

APS Amendment No.

1, dated as of November 1, 1986, to Assignment, Assumption and Further Agreement, dated as of August 1, 1986, between APS and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee 10.10 to APS’s September 30, 1986 Form 10-Q Report by means of Amendment No.

l on December 3, 1986 Form 8, File No.

1-4473 12/4/1986

Registrant(s) Description Previously Filed as Exhibit:

Pinnacle West

APS Amendment No.

2, dated as of March 17, 1993, to Assignment, Assumption and Further Agreement, dated as of August 1, 1986, between APS and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee 28.6 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

99.3 Pinnacle West

APS Participation Agreement, dated as of December 15, 1986, among PVGS Funding Report Corp., Inc., State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its individual capacity and as Owner Trustee, Chemical Bank, in its individual capacity and as Indenture Trustee under a Trust Indenture, APS, and the Owner Participant named therein 28.2 to APS’s September 30, 1992 Form 10-Q Report, File No.

33-9480 10/24/1986

1 unchanged sentence

APS Amendment No.

1, dated as of August 1, 1987, to Participation Agreement, dated as of December 15, 1986, among PVGS Funding Corp., Inc.

as Funding Corporation, State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, Chemical Bank, as Indenture Trustee, APS, and the Owner Participant named therein 28.20 to APS’s Form 18 Registration Statement No.

33-9480 by means of a November 6, 1986 Form 8-K Report, File No.

1-4473 8/10/1987

99.4(b) Pinnacle West

APS Amendment No.

2, dated as of March 17, 1993, to Participation Agreement, dated as of December 15, 1986, among PVGS Funding Corp., Inc., PVGS II Funding Corp., Inc., State Street Bank and Trust Company, as successor to The First National Bank of Boston, in its individual capacity and as Owner Trustee, Chemical Bank, in its individual capacity and as Indenture Trustee, APS, and the Owner Participant named therein 28.5 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

99.5 Pinnacle West

APS Trust Indenture, Mortgage Security Agreement and Assignment of Facility Lease, dated as of December 15, 1986, between State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, and Chemical Bank, as Indenture Trustee 10.2 to APS’s November 18, 1986 Form 10-K Report, File No.

1-4473 1/20/1987

99.5(a) Pinnacle West

APS Supplemental Indenture No.

1, dated as of August 1, 1987, to Trust Indenture, Mortgage, Security Agreement and Assignment of Facility Lease, dated as of December 15, 1986, between State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, and Chemical Bank, as Indenture Trustee 4.13 to APS’s Form 18 Registration Statement No.

33-9480 by means of August 1, 1987 Form 8-K Report, File No.

1-4473 8/24/1987

1, dated as of November 1, 1986, to Assignment, Assumption and Further Agreement, dated as of August 1, 1986, between APS and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee 10.10 to APS September 30, 1986 Form 10-Q Report by means of Amendment No.

l on December 3, 1986 Form 8 12/4/1986

Registrant(s) Description Previously Filed as Exhibit:

99.3(b) Pinnacle West

APS Supplemental Indenture No.

2 to Trust Indenture Mortgage, Security Agreement and Assignment of Facility Lease, dated as of December 15, 1986, between State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee, and Chemical Bank, as Lease Indenture Trustee 4.5 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

99.6 Pinnacle West

APS Assignment, Assumption and Further Agreement, dated as of December 15, 1986, between APS and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee 10.5 to APS’s November 18, 1986 Form 8-K Report, File No.

1-4473 1/20/1987

99.6(a) Pinnacle West

APS Amendment No.

1, dated as of March 17, 1993, to Assignment, Assumption and Further Agreement, dated as of December 15, 1986, between APS and State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee 28.7 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

Pinnacle West

APS Indemnity Agreement dated as of March 17, 1993 by APS 28.3 to APS’s 1992 Form 10-K Report, File No.

1-4473 3/30/1993

99.4 Pinnacle West

APS Extension Letter, dated as of August 13, 1987, from the signatories of the Participation Agreement to Chemical Bank 28.20 to APS’s Form 18 Registration Statement No.

33-9480 by means of a November 6, 1986 Form 8-K Report, File No.

1-4473 8/10/1987

APS Indemnity Agreement dated as of March 17, 1993 by APS 28.3 to APS 1992 Form 10-K Report 3/30/1993

101.SCH Pinnacle West

APS XBRL Taxonomy Extension Schema Document

APS Inline XBRL Taxonomy Extension Schema Document

101.CAL Pinnacle West

APS XBRL Taxonomy Extension Calculation Linkbase Document

APS Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB Pinnacle West

APS XBRL Taxonomy Extension Label Linkbase Document

APS Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE Pinnacle West

APS XBRL Taxonomy Extension Presentation Linkbase Document

APS Inline XBRL Taxonomy Extension Presentation Linkbase Document

101.DEF Pinnacle West

APS XBRL Taxonomy Definition Linkbase Document

APS Inline XBRL Taxonomy Definition Linkbase Document

104 Pinnacle West APS The Cover Page Interactive Data File (formatted as Inline iXBRL and contained in Exhibit 101)

a Reports filed under File No.

1-4473 and 1-8962 were filed in the office of the SEC located in Washington, D.C.

b Management contract or compensatory plan or arrangement to be filed as an exhibit pursuant to Item 15(b) of Form 10-K.

c An additional document, substantially identical in all material respects to this Exhibit, has been entered into, relating to an additional Equity Participant.

Although such additional document may differ in other respects (such as dollar amounts, percentages, tax indemnity matters, and dates of execution), there are no material details in which such document differs from this Exhibit.

d Additional agreements, substantially identical in all material respects to this Exhibit have been entered into with additional persons.

(a) Management contract or compensatory plan or arrangement to be filed as an exhibit pursuant to Item 15(b) of Form 10-K.

(b) Additional agreements, substantially identical in all material respects to this Exhibit, have been entered into with additional persons.

Although such additional documents may differ in other respects (such as dollar amounts and dates of execution), there are no material details in which such agreements differ from this exhibit.

e Furnished herewith as an Exhibit.

FORM 10-K SUMMARY

2 unchanged sentences

February 25, 2026

/s/ Jeffrey B.

Guldner, Chairman of

/s/ Theodore N.

Geisler, Chairman of

the Board of Directors, President and

1 unchanged sentence

Power of Attorney

We, the undersigned directors and executive officers of Pinnacle West Capital Corporation, hereby severally appoint Andrew Cooper and Robert E.

Smith, and each of them, our true and lawful attorneys with full power to them and each of them to sign for us, and in our names in the capacities indicated below, any and all amendments to this Annual Report on Form 10-K filed with the Securities and Exchange Commission.

We, the undersigned directors and executive officers of Pinnacle West Capital Corporation, hereby severally appoint Andrew Cooper and Shirley A.

Baum, and each of them, our true and lawful attorneys with full power to them and each of them to sign for us, and in our names in the capacities indicated below, any and all amendments to this Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature Title Date

/s/ Jeffrey B.

Guldner Principal Executive Officer February 25, 2025

Guldner, Chairman and Director

/s/ Theodore N.

Principal Executive Officer February 25, 2026

Geisler, Chairman and Director

of the Board of Directors, President

and Chief Executive Officer)

/s/ Andrew Cooper Principal Financial Officer February 25, 2025

/s/ Andrew Cooper

Principal Financial Officer February 25, 2026

(Andrew Cooper,

2 unchanged sentences

/s/ Elizabeth A.

Blankenship Principal Accounting Officer February 25, 2025

Principal Accounting Officer February 25, 2026

(Elizabeth A.

2 unchanged sentences

/s/ Glynis A.

Bryan Director February 25, 2025

Director February 25, 2026

/s/ Ronald Butler, Jr.

5 unchanged sentences

de la Melena, Jr.)

Eicher Director February 25, 2025

Flanagan Director February 25, 2025

Director February 25, 2026

/s/ Richard P.

Fox Director February 25, 2025

/s/ Theodore N.

Geisler Director February 25, 2025

Nordstrom Director February 25, 2025

Sims Director February 25, 2025

Director February 25, 2026

/s/ William H.

Spence Director February 25, 2025

Director February 25, 2026

/s/ Kristine L.

Svinicki Director February 25, 2025

Director February 25, 2026

/s/ James E Trevathan, Jr.

4 unchanged sentences

February 25, 2026

/s/ Jeffrey B.

Guldner, Chairman of

the Board of Directors and

/s/ Theodore N.

Geisler, Chairman of

the Board of Directors, President and

Chief Executive Officer)

Power of Attorney

We, the undersigned directors and executive officers of Arizona Public Service Company, hereby severally appoint Andrew Cooper and Robert E.

We, the undersigned directors and executive officers of Arizona Public Service Company, hereby severally appoint Andrew Cooper and Shirley A.

Signature Title Date

/s/ Jeffrey B.

Guldner Principal Executive Officer February 25, 2025

Guldner, Chairman and Director

of the Board of Directors and

/s/ Theodore N.

Principal Executive Officer February 25, 2026

Geisler, Chairman and Director

of the Board of Directors, President and

Chief Executive Officer)

/s/ Andrew Cooper Principal Financial Officer February 25, 2025

/s/ Andrew Cooper

Principal Financial Officer February 25, 2026

(Andrew Cooper,

2 unchanged sentences

/s/ Elizabeth A.

Blankenship Principal Accounting Officer February 25, 2025

Principal Accounting Officer February 25, 2026

(Elizabeth A.

2 unchanged sentences

/s/ Glynis A.

Bryan Director February 25, 2025

Director February 25, 2026

/s/ Ronald Butler, Jr.

5 unchanged sentences

de la Melena, Jr.)

Eicher Director February 25, 2025

Flanagan Director February 25, 2025

Director February 25, 2026

/s/ Richard P.

Fox Director February 25, 2025

/s/ Theodore N.

Geisler Director February 25, 2025

Nordstrom Director February 25, 2025

Sims Director February 25, 2025

Director February 25, 2026

/s/ William H.

Spence Director February 25, 2025

Director February 25, 2026

/s/ Kristine L.

Svinicki Director February 25, 2025

Director February 25, 2026

/s/ James E Trevathan, Jr.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures