PINNACLE WEST CAPITAL CORP 10-K

ITEM 9A. CONTROLS AND PROCEDURES (a) Disclosure Controls and Procedures The term “disclosure controls and procedures” means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Securities Exchange Act of 1934 (the “Exchange Act”) (15 U.S.C. 78a et seq .) is recorded, processed, summarized, and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to a company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Pinnacle West’s management, with the participation of Pinnacle West’s Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of Pinnacle West’s disclosure controls and procedures as of December 31, 2025. Based on that evaluation, Pinnacle West’s Chief Executive Officer and Chief Financial Officer have concluded that, as of that date, Pinnacle West’s disclosure controls and procedures were effective. APS’s management, with the participation of APS’s Chief Executive Officer and Chief Financial Officer, have evaluated the effectiveness of APS’s disclosure controls and procedures as of December 31, 2025. Based on that evaluation, APS’s Chief Executive Officer and Chief Financial Officer have concluded that, as of that date, APS’s disclosure controls and procedures were effective. (b) Management’s Annual Reports on Internal Control Over Financial Reporting Reference is made to “Management’s Report on Internal Control over Financial Reporting (Pinnacle West Capital Corporation)” in Item 8 of this report and “Management’s Report on Internal Control over Financial Reporting (Arizona Public Service Company)” in Item 8 of this report. (c) Attestation Reports of the Registered Public Accounting Firm Reference is made to “Report of Independent Registered Public Accounting Firm” in Item 8 of this report and “Report of Independent Registered Public Accounting Firm” in Item 8 of this report on the internal control over financial reporting of Pinnacle West and APS, respectively. (d) Changes In Internal Control Over Financial Reporting No change in Pinnacle West’s or APS’s internal control over financial reporting occurred during the fiscal quarter ended December 31, 2025, that materially affected, or is reasonably likely to materially affect, Pinnacle West’s or APS’s internal control over financial reporting. 200 Table of Contents ITEM 9B. OTHER INFORMATION Rule 10b5-1 Trading Plans 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.” ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS Not applicable. PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS 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. Pinnacle West has adopted a Code of Ethics for Financial Executives that applies to financial executives including Pinnacle West’s Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, Controller, Treasurer, and General Counsel, the President and Chief Operating Officer of APS and other persons designated as financial executives by the Chair of the Audit Committee. The Code of Ethics for Financial Executives is posted on Pinnacle West’s website ( www.pinnaclewest.com) . Pinnacle West intends to satisfy the requirements under Item 5.05 of Form 8-K regarding disclosure of amendments to, or waivers from, provisions of the Code of Ethics for Financial Executives by posting such information on Pinnacle West’s website. Pinnacle West has adopted an insider trading policy governing the purchase, sale, and/or other dispositions of its securities by directors, officers and employees, and Pinnacle West itself, that Pinnacle West believes are reasonably designed to promote compliance with insider trading laws, rules and regulations, and New York Stock Exchange listing standards. This policy is set forth in our Securities Trading Policy included as Exhibit 19.1 to this report. ITEM 11. EXECUTIVE COMPENSATION Reference is hereby made to “Director Compensation,” “Executive Compensation,” and “Human Resources Committee Interlocks and Insider Participation” in the 2026 Proxy Statement. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS Reference is hereby made to “Ownership of Pinnacle West Stock” in the 2026 Proxy Statement. 201 Table of Contents Securities Authorized for Issuance Under Equity Compensation Plans The following table sets forth information as of December 31, 2025, with respect to the 2021 Plan, 2012 Plan, the 2007 Plan, under which our equity securities are outstanding or currently authorized for issuance. Equity Compensation Plan Information Plan Category Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) Weighted- average exercise price of outstanding options, warrants and rights (b) Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) Equity compensation plans approved by security holders 1,624,697 — 2,477,607 Equity compensation plans not approved by security holders — — — Total 1,624,697 — 2,477,607 (a) This amount includes shares subject to outstanding performance share awards and restricted stock unit awards at the maximum amount of shares issuable under such awards. However, payout of the performance share awards is contingent on the Company reaching certain levels of performance during a three-year performance period. If the performance criteria for these awards are not fully satisfied, the award recipient will receive less than the maximum number of shares available under these grants and may receive nothing from these grants. (b) The weighted-average exercise price in this column does not take performance share awards or restricted stock unit awards into account, as those awards have no exercise price. (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, 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. Equity Compensation Plans Approved By Security Holders Amounts in column (a) in the table above include shares subject to awards outstanding under three equity compensation plans that were previously approved by our shareholders: (a) the 2007 Plan, which was approved by our shareholders at our 2007 Annual Meeting of Shareholders, under which no new stock awards may be granted; (b) the 2012 Plan, which was approved by our shareholders at our 2012 Annual Meeting of Shareholders, as amended by the First Amendment to the 2012 Plan, which was approved by our shareholders at our 2017 Annual Meeting of Shareholders, under which no new stock awards may be granted; and (c) the 2021 Plan, which was approved by our shareholders at our 2021 Annual Meeting of Shareholders, as amended by the First Amendment to the 2021 Plan, which was approved by our shareholders at our 2023 Annual Meeting of Shareholders. See Note 10 of the Notes to Consolidated Financial Statements for additional information regarding these plans. Equity Compensation Plans Not Approved by Security Holders The Company does not have any equity compensation plans under which shares can be issued that have not been approved by the shareholders. 202 Table of Contents ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE Reference is hereby made to “Information About Our Board and Corporate Governance” and “Related Party Transactions” in the 2026 Proxy Statement. ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES Pinnacle West Reference is hereby made to “Audit Matters — Audit Fees and — Pre-Approval Policies” in the 2026 Proxy Statement. APS The following fees were paid to APS’s independent registered public accountants, Deloitte & Touche LLP, for the last two fiscal years: Type of Service 2025 2024 Audit Fees (1) $ 2,971,594 $ 2,967,862 Audit-Related Fees (2) 403,620 384,372 Tax Fees — — (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. 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. The Chair must report any pre-approval decisions to the Audit Committee at its next scheduled meeting. All of the services performed by Deloitte & Touche LLP for APS in 2025 were pre-approved by the Audit Committee or the Chair consistent with the pre-approval policy. 203 Table of Contents PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES Financial Statements and Financial Statement Schedules See the Index to Financial Statements and Financial Statement Schedule in Part II, Item 8. Exhibits Filed The documents listed below are being filed or have previously been filed on behalf of Pinnacle West or APS and are incorporated herein by reference from the documents indicated and made a part hereof. Exhibits not identified as previously filed are filed herewith. Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 3.1 Pinnacle West Articles of Incorporation, restated as of May 22, 2025 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 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 6/20/2017 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 4.1 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 APS Indenture dated as of January 15, 1998 between APS and The Bank of New York Mellon Trust Company N.A. (successor to JPMorgan Chase Bank, N.A., formerly known as The Chase Manhattan Bank), as Trustee 4.10 to APS’s Registration Statement Nos. 333-15379 and 333-27551 by means of APS January 13, 1998 Form 8-K Report 1/16/1998 4.3(a) Pinnacle West APS Seventh Supplemental Indenture dated as of May 1, 2003 4.1 to APS’s Registration Statement No. 333-90824 by means of APS May 7, 2003 Form 8-K Report 5/9/2003 4.3(b) Pinnacle West APS Ninth Supplemental Indenture dated as of August 15, 2005 4.1 to APS’s Registration Statements Nos. 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 July 31, 2006 Form 8-K Report 8/3/2006 204 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 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 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 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 2/20/2015 4.3(g) 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 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 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 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 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 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 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 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 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 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 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 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 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 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 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 11/25/2008 4.5 Pinnacle West APS Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 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 6/6/2024 205 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 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 September 30, 1991 Form 10-Q Report 11/14/1991 10.1(a) Pinnacle West APS Amendment No. 1 to Decommissioning Trust Agreement (PVGS Unit 1), dated as of December 1, 1994 10.1 to APS 1994 Form 10-K Report 3/30/1995 10.1(b) Pinnacle West APS Amendment No. 1 to Decommissioning Trust Agreement (PVGS Unit 3), dated as of December 1, 1994 10.2 to APS 1994 Form 10-K Report 3/30/1995 10.1(c) Pinnacle West APS Amendment No. 2 to APS Decommissioning Trust Agreement (PVGS Unit 1) dated as of July 1, 1991 10.4 to APS 1996 Form 10-K Report 3/28/1997 10.1(d) Pinnacle West APS Amendment No. 2 to APS Decommissioning Trust Agreement (PVGS Unit 3) dated as of July 1, 1991 10.6 to APS 1996 Form 10-K Report 3/28/1997 10.1(e) Pinnacle West APS Amendment No. 3 to the Decommissioning Trust Agreement (PVGS Unit 1), dated as of March 18, 2002 10.2 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002 10.1(f) Pinnacle West APS Amendment No. 3 to the Decommissioning Trust Agreement (PVGS Unit 3), dated as of March 18, 2002 10.4 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002 10.1(g) Pinnacle West APS Amendment No. 4 to the Decommissioning Trust Agreement (PVGS Unit 1), dated as of December 19, 2003 10.3 to Pinnacle West 2003 Form 10-K Report 3/15/2004 10.1(h) Pinnacle West APS Amendment No. 4 to the Decommissioning Trust Agreement (PVGS Unit 3), dated as of December 19, 2003 10.5 to Pinnacle West 2003 Form 10-K Report 3/15/2004 10.1(i) Pinnacle West APS Amendment No. 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 5/9/2007 10.1(j) Pinnacle West APS Amendment No. 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 5/9/2007 206 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 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 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 1992 Form 10-K Report 3/30/1993 10.2(b) Pinnacle West APS Amendment No. 2 to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of November 1, 1994 10.3 to APS 1994 Form 10-K Report 3/30/1995 10.2(c) Pinnacle West APS Amendment No. 3 to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of June 20, 1996 10.1 to APS June 30, 1996 Form 10-Q Report 8/9/1996 10.2(d) Pinnacle West APS Amendment No. 4 to Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2) dated as of December 16, 1996 APS 10.5 to APS 1996 Form 10-K Report 3/28/1997 10.2(e) Pinnacle West APS Amendment No. 5 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of June 30, 2000 10.1 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002 10.2(f) Pinnacle West APS Amendment No. 6 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of March 18, 2002 10.3 to Pinnacle West March 31, 2002 Form 10-Q Report 5/15/2002 10.2(g) Pinnacle West APS Amendment No. 7 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of December 19, 2003 10.4 to Pinnacle West 2003 Form 10-K Report 3/15/2004 10.2(h) Pinnacle West APS Amendment No. 8 to the Amended and Restated Decommissioning Trust Agreement (PVGS Unit 2), dated as of April 1, 2007 10.1.2h to Pinnacle West 2007 Form 10-K Report 2/27/2008 10.3 a Pinnacle West 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 10.3(a) a 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 1993 Form 10-K Report 3/30/1994 207 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 10.3(b) a 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 September 30, 1994 Form 10-Q Report 11/10/1994 10.3(c) a 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 1999 Form 10-K Report 3/30/2000 10.4 a 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 2/19/2016 10.5 a 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 2/19/2016 10.5(a) a 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 2/24/2017 10.5(b) a 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 2/23/2018 10.6 a 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 2/27/2023 10.7 ab 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 8/5/2021 10.8 a 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 4/20/2007 10.8(a) a 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 4/20/2007 10.8(b) ab 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 4/29/2011 10.9 a 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 3/29/2012 10.9(a) a 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 3/31/2017 208 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 10.10 a 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 10.10(a) ab 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 2/25/2022 10.10(b) ab 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 2/25/2022 10.10(c) ab 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 2/25/2022 10.10(d) ab 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 2/25/2022 10.10(e) ab 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 2/25/2022 10.10(f) ab 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 2/25/2022 10.10(g) ab Pinnacle West Form of Restricted Stock Unit Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan 10.10(h) ab Pinnacle West Form of Performance Share Award Agreement under the Pinnacle West Capital Corporation 2021 Long-Term Incentive Plan 10.11 a Pinnacle West APS Summary of 2026 Variable Incentive Plan and Officer Variable Incentive Plan 10.12 Pinnacle West APS Indenture of Lease with Navajo Tribe of Indians, Four Corners Plant 5.01 to APS’s Form S-7 Registration Statement, File No. 2-59644 9/1/1977 10.12(a) Pinnacle West APS Supplemental and Additional Indenture of Lease, including amendments and supplements to original lease with Navajo Tribe of Indians, Four Corners Plant 5.02 to APS’s Form S-7 Registration Statement, File No. 2-59644 9/1/1977 10.12(b) Pinnacle West APS Amendment and Supplement No. 1 to Supplemental and Additional Indenture of Lease Four Corners, dated April 25, 1985 10.36 to Pinnacle West’s Registration Statement on Form 8-B Report, File No. 1-8962 7/25/1985 10.12(c) Pinnacle West APS Amendment and Supplement No. 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 4/29/2011 209 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 10.12(d) Pinnacle West APS Amendment and Supplement No. 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 4/29/2011 10.13 Pinnacle West APS Application and Grant of multi-party rights-of-way and easements, Four Corners Plant Site 5.04 to APS’s Form S-7 Registration Statement, File No. 2-59644 9/1/1977 10.13(a) Pinnacle West APS Application and Amendment No. 1 to Grant of multi-party rights-of-way and easements, Four Corners Site dated April 25, 1985 10.37 to Pinnacle West’s Registration Statement on Form 8-B, File No. 1-8962 7/25/1985 10.14 Pinnacle West APS Application and Grant of APS rights- of-way and easements, Four Corners Site 5.05 to APS’s Form S-7 Registration Statement, File No. 2-59644 9/1/1977 10.14(a) Pinnacle West APS Application and Amendment No. 1 to Grant of APS rights-of-way and easements, Four Corners Site dated April 25, 1985 10.38 to Pinnacle West’s Registration Statement on Form 8-B, File No. 1-8962 7/25/1985 10.15 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 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 1988 Form 10-K Report 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 March 31, 1991 Form 10-Q Report 5/15/1991 210 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 10.16(b) Pinnacle West APS Amendment No. 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 June 30, 2000 Form 10-Q Report 8/14/2000 10.16(c) Pinnacle West APS Amendment No. 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 2/18/2011 10.16(d) Pinnacle West APS Amendment No. 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 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 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 June 30, 1991 Form 10-Q Report 8/8/1991 10.18(a) Pinnacle West APS Amendment No. 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 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 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 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 211 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 10.22 Pinnacle West 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 Form 18 Registration Statement, File No. 33-9480 10/24/1986 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 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 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 1992 Form 10-K Report 3/30/1993 10.23(d) Pinnacle West APS Amendment No. 4, 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 Emerson Finance LLC, as Lessor, and APS, as Lessee 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 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 3/16/2005 212 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 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 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 5/6/2010 10.28 Pinnacle West APS Contract, dated July 21, 1984, with DOE providing for the disposal of nuclear fuel and/or high-level radioactive waste, ANPP 10.31 to Pinnacle West’s Form S-14 Registration Statement, File No. 2-96386 3/13/1985 10.29 Pinnacle West APS Territorial Agreement between APS and SRP 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 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 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 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 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 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 213 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 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 32.1 c Pinnacle West Certification of Chief Executive Officer and Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 32.2 c APS Certification of Chief Executive Officer and Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 97 Pinnacle West Policy Relating to Recovery of Erroneously Awarded Compensation 97 to Pinnacle West/APS 2023 Form 10-K Report 2/27/2024 99.1 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 September 30, 1992 Form 10-Q Report 11/9/1992 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 September 30, 1986 Form 10-Q Report by means of Amendment No. 1 on December 3, 1986 Form 8 12/4/1986 214 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 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 1992 Form 10-K Report 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 Form 18 Registration Statement, File No. 33-9480 10/24/1986 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 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 1992 Form 10-K Report 3/30/1993 99.3 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 Form 18 Registration Statement, File No. 33-9480 10/24/1986 99.3(a) 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 September 30, 1986 Form 10-Q Report by means of Amendment No. l on December 3, 1986 Form 8 12/4/1986 215 Table of Contents Exhibit No. Registrant(s) Description Previously Filed as Exhibit: Date Filed 99.3(b) 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 1992 Form 10-K Report 3/30/1993 99.4 Pinnacle West 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 Inline XBRL Taxonomy Extension Schema Document 101.CAL Pinnacle West APS Inline XBRL Taxonomy Extension Calculation Linkbase Document 101.LAB Pinnacle West APS Inline XBRL Taxonomy Extension Label Linkbase Document 101.PRE Pinnacle West APS Inline XBRL Taxonomy Extension Presentation Linkbase Document 101.DEF Pinnacle West 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) 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. (c) Furnished herewith. ITEM 16. FORM 10-K SUMMARY None. 216 Table of Contents SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PINNACLE WEST CAPITAL CORPORATION (Registrant) Date: February 25, 2026 /s/ Theodore N. Geisler (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 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/ Theodore N. Geisler Principal Executive Officer February 25, 2026 (Theodore N. Geisler, Chairman and Director of the Board of Directors, President and Chief Executive Officer) /s/ Andrew Cooper Principal Financial Officer February 25, 2026 (Andrew Cooper, Senior Vice President and Chief Financial Officer) /s/ Elizabeth A. Blankenship Principal Accounting Officer February 25, 2026 (Elizabeth A. Blankenship, Vice President, Controller and Chief Accounting Officer) 217 Table of Contents /s/ Glynis A. Bryan Director February 25, 2026 (Glynis A. Bryan) /s/ Ronald Butler, Jr. Director February 25, 2026 (Ronald Butler, Jr.) /s/ Gonzalo A. de la Melena, Jr. Director February 25, 2026 (Gonzalo A. de la Melena, Jr.) /s/ Carol S. Eicher Director February 25, 2026 (Carol S. Eicher) /s/ Susan T. Flanagan Director February 25, 2026 (Susan T. Flanagan) /s/ Richard P. Fox Director February 25, 2026 (Richard P. Fox) /s/ Paula J. Sims Director February 25, 2026 (Paula J. Sims) /s/ William H. Spence Director February 25, 2026 (William H. Spence) /s/ Kristine L. Svinicki Director February 25, 2026 (Kristine L. Svinicki) /s/ James E Trevathan, Jr. Director February 25, 2026 (James E. Trevathan, Jr.) 218 Table of Contents SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ARIZONA PUBLIC SERVICE COMPANY (Registrant) Date: February 25, 2026 /s/ Theodore N. Geisler (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 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/ Theodore N. Geisler Principal Executive Officer February 25, 2026 (Theodore N. Geisler, Chairman and Director of the Board of Directors, President and Chief Executive Officer) /s/ Andrew Cooper Principal Financial Officer February 25, 2026 (Andrew Cooper, Senior Vice President and Chief Financial Officer) /s/ Elizabeth A. Blankenship Principal Accounting Officer February 25, 2026 (Elizabeth A. Blankenship Vice President, Controller and Chief Accounting Officer) 219 Table of Contents /s/ Glynis A. Bryan Director February 25, 2026 (Glynis A. Bryan) /s/ Ronald Butler, Jr. Director February 25, 2026 (Ronald Butler, Jr.) /s/ Gonzalo A. de la Melena, Jr. Director February 25, 2026 (Gonzalo A. de la Melena, Jr.) /s/ Carol S. Eicher Director February 25, 2026 (Carol S. Eicher) /s/ Susan T. Flanagan Director February 25, 2026 (Susan T. Flanagan) /s/ Richard P. Fox Director February 25, 2026 (Richard P. Fox) /s/ Paula J. Sims Director February 25, 2026 (Paula J. Sims) /s/ William H. Spence Director February 25, 2026 (William H. Spence) /s/ Kristine L. Svinicki Director February 25, 2026 (Kristine L. Svinicki) /s/ James E Trevathan, Jr. Director February 25, 2026 (James E. Trevathan, Jr.) 220