Pinnacle West enters $900M ATM equity distribution agreement with multiple banks

PINNACLE WEST CAPITAL CORP

Up to $900M in common stock may be sold at-the-market through agents or forward sellers.
Commissions of up to 1% of gross proceeds for Managers and Forward Sellers.
Proceeds to fund APS capex, repay commercial paper, or for general corporate purposes.
Company may also enter forward sale agreements; initial proceeds from borrowed shares not received.
No obligation to sell; program terminates upon sale of all shares or termination.

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