Last Updated 8/2/2016 Line 2016 2015 Incr (Decr) 2016 2015 Incr (Decr) EARNINGS CONTRIBUTION BY SUBSIDIARY (Dollars in Millions) 1 Arizona Public Service 132$ 130$ 2$ 144$ 154$ (10)$ 2 El Dorado - - - - - - 3 Parent Company (6) (2) (4) (8) (6) (2) 4 Net Income 126 128 (2) 136 148 (12) 5 Less: Net Income Attributable to Noncontrolling Interests 5 5 - 10 9 1 6 Net Income Attributable to Common Shareholders 121$ 123$ (2)$ 126$ 139$ (13)$ EARNINGS PER SHARE BY SUBSIDIARY - DILUTED 7 Arizona Public Service 1.18$ 1.17$ 0.01$ 1.29$ 1.39$ (0.10)$ 8 El Dorado - - - - - - 9 Parent Company (0.06) (0.03) (0.03) (0.08) (0.06) (0.02) 10 Net Income 1.12 1.14 (0.02) 1.21 1.33 (0.12) 11 Less: Net Income Attributable to Noncontrolling Interests 0.04 0.04 - 0.09 0.08 0.01 12 Net Income Attributable to Common Shareholders 1.08$ 1.10$ (0.02)$ 1.12$ 1.25$ (0.13)$ 13 BOOK VALUE PER SHARE 41.24$ 39.63$ 1.61$ 41.24$ 39.63$ 1.61$ COMMON SHARES OUTSTANDING (Thousands) 14 Average - Diluted 112,004 111,460 544 111,930 111,426 504 15 End of Period - Basic 111,368 110,986 382 111,336 110,958 378 6 Months Ended June 30, Pinnacle West Capital Corporation Quarterly Consolidated Statistical Summary Periods Ended June 30, 2016 and 2015 3 Months Ended June 30, Page 1 of 4

Last Updated 8/2/2016 Line 2016 2015 Incr (Decr) 2016 2015 Incr (Decr) ELECTRIC OPERATING REVENUES (Dollars in Millions) Retail 16 Residential 453$ 423$ 30$ 751$ 717$ 34$ 17 Business 422 413 9 763 749 14 18 Total retail 875 836 39 1,514 1,466 48 Wholesale revenue on delivered electricity 19 Traditional contracts 2 4 (2) 4 6 (2) 20 Off-system sales 18 34 (16) 36 57 (21) 21 Native load hedge liquidation - - - - - - 22 Total wholesale 20 38 (18) 40 63 (23) 23 Transmission for others 5 7 (2) 14 15 (1) 24 Other miscellaneous services 10 9 1 18 16 2 25 Total electric operating revenues 910$ 890$ 20$ 1,586$ 1,560$ 26$ ELECTRIC SALES (GWH) Retail sales 26 Residential 3,313 3,143 170 5,821 5,560 261 27 Business 3,756 3,721 35 7,069 6,981 88 28 Total retail 7,069 6,864 205 12,890 12,541 349 Wholesale electricity delivered 29 Traditional contracts 12 71 (59) 29 111 (82) 30 Off-system sales 931 1,361 (430) 1,909 2,371 (462) 31 Retail load hedge management - - - - - - 32 Total wholesale 943 1,432 (489) 1,938 2,482 (544) 33 Total electric sales 8,012 8,296 (284) 14,828 15,023 (195) 3 Months Ended June 30, 6 Months Ended June 30, Pinnacle West Capital Corporation Quarterly Consolidated Statistical Summary Periods Ended June 30, 2016 and 2015 Page 2 of 4

Last Updated 8/2/2016 Line 2016 2015 Incr (Decr) 2016 2015 Incr (Decr) AVERAGE ELECTRIC CUSTOMERS Retail customers 34 Residential 1,057,620 1,042,275 15,345 1,060,686 1,045,615 15,071 35 Business 131,573 130,396 1,177 131,368 130,274 1,094 36 Total retail 1,189,193 1,172,671 16,522 1,192,054 1,175,889 16,165 37 Wholesale customers 46 49 (3) 45 47 (2) 38 Total customers 1,189,239 1,172,720 16,519 1,192,099 1,175,936 16,163 39 Total customer growth (% over prior year) 1.4% 1.2% 0.2% 1.4% 1.2% 0.2% RETAIL SALES (GWH) - WEATHER NORMALIZED 40 Residential 3,223 3,166 57 5,801 5,759 42 41 Business 3,704 3,762 (58) 6,997 6,963 34 42 Total 6,927 6,928 (1) 12,798 12,722 76 43 Retail sales (GWH) (% over prior year) - 0.7% (0.7)% 0.6% - 0.6% RETAIL USAGE (KWh/Average Customer) 44 Residential 3,132 3,015 117 5,488 5,318 170 45 Business 28,551 28,538 13 53,809 53,586 223 RETAIL USAGE - WEATHER NORMALIZED (KWh/Average Customer) 46 Residential 3,047 3,038 9 5,469 5,508 (39) 47 Business 28,152 28,849 (697) 53,265 53,445 (180) ELECTRICITY DEMAND (MW) 48 Native load peak demand 7,025 6,622 403 7,025 6,622 403 WEATHER INDICATORS - RESIDENTIAL Actual 49 Cooling degree-days 503 484 19 503 484 19 50 Heating degree-days 1 1 - 397 254 143 51 Average humidity 20% 24% (4)% 20% 24% (4)% 10-Year Averages 52 Cooling degree-days 491 491 - 491 491 - 53 Heating degree-days 9 9 - 489 489 - 54 Average humidity 15% 15% - 15% 15% - 3 Months Ended June 30, 6 Months Ended June 30, Pinnacle West Capital Corporation Quarterly Consolidated Statistical Summary Periods Ended June 30, 2016 and 2015 Page 3 of 4

Last Updated 8/2/2016 Line 2016 2015 Incr (Decr) 2016 2015 Incr (Decr) ENERGY SOURCES (GWH) Generation production 55 Nuclear 2,147 2,217 (70) 4,692 4,727 (35) 56 Coal 1,329 2,862 (1,533) 2,631 5,136 (2,505) 57 Gas, oil and other 2,432 1,428 1,004 4,300 2,459 1,841 58 Total generation production 5,908 6,533 (625) 11,623 12,322 (699) Purchased power 59 Firm load 2,219 2,002 217 3,546 3,258 288 60 Marketing and trading 265 105 160 343 189 154 61 Total purchased power 2,484 2,107 377 3,889 3,447 442 62 Total energy sources 8,392 8,640 (248) 15,512 15,769 (257) POWER PLANT PERFORMANCE Capacity Factors 63 Nuclear 86% 89% (3)% 94% 95% (1)% 64 Coal 36% 68% (32)% 36% 61% (25)% 65 Gas, oil and other 33% 24% 9% 29% 20% 9% 66 System average 43% 45% (2)% 43% 41% 2% ECONOMIC INDICATORS Building Permits (a) 67 Metro Phoenix 8,215 6,117 2,098 13,500 10,580 2,920 Arizona Job Growth (b) 68 Payroll job growth (% over prior year) 2.9% 2.2% 0.7% 2.2% 2.3% (0.1)% 69 Unemployment rate (%, seasonally adjusted) 5.6% 6.1% (0.5)% 6.1% 6.2% (0.1)% Sources: (a) U.S. Census Bureau (b) Arizona Department of Economic Security 6 Months Ended June 30, Pinnacle West Capital Corporation Quarterly Consolidated Statistical Summary Periods Ended June 30, 2016 and 2015 3 Months Ended June 30, Page 4 of 4