<?xml version="1.0" encoding="UTF-8"?><own:edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns:own="http://www.sec.gov/edgar/ownership">
  <!-- Generated by Workiva -->
  <own:headerData>
    <own:submissionType>144</own:submissionType>
    <own:filerInfo>
      <own:filer>
        <own:filerCredentials>
          <own:cik>0001862964</own:cik>
          <own:ccc>XXXXXXXX</own:ccc>
        </own:filerCredentials>
      </own:filer>
      <own:liveTestFlag>LIVE</own:liveTestFlag>



    </own:filerInfo>
  </own:headerData>
  <own:formData>
    <own:issuerInfo>
      <own:issuerCik>0000764622</own:issuerCik>
      <own:issuerName>Pinnacle West Capital Corporation</own:issuerName>
      <own:secFileNumber>001-08962</own:secFileNumber>
      <own:issuerAddress>
        <com:street1>400 North 5th Street</com:street1>
        <com:street2>PO Box 53999</com:street2>
        <com:city>Phoenix</com:city>
        <com:stateOrCountry>AZ</com:stateOrCountry>
        <com:zipCode>85004</com:zipCode>
      </own:issuerAddress>
      <own:issuerContactPhone>602-250-4402</own:issuerContactPhone>
      <own:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Jacob Tetlow</own:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <own:relationshipsToIssuer>
        <own:relationshipToIssuer>EVP and COO, APS</own:relationshipToIssuer>
      </own:relationshipsToIssuer>
    </own:issuerInfo>
    <own:securitiesInformation>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:brokerOrMarketmakerDetails>
        <own:name>Wells Fargo Advisors</own:name>
        <own:address>
          <com:street1>One North Jefferson Avenue</com:street1>
          <com:city>St. Louis</com:city>
          <com:stateOrCountry>MO</com:stateOrCountry>
          <com:zipCode>63103</com:zipCode>
        </own:address>
      </own:brokerOrMarketmakerDetails>
      <own:noOfUnitsSold>6567</own:noOfUnitsSold>
      <own:aggregateMarketValue>654795.57</own:aggregateMarketValue>
      <own:noOfUnitsOutstanding>121187166</own:noOfUnitsOutstanding>
      <own:approxSaleDate>05/12/2026</own:approxSaleDate>
      <own:securitiesExchangeName>NYSE</own:securitiesExchangeName>
    </own:securitiesInformation>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>03/18/2026</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>6567</own:amountOfSecuritiesAcquired>
      <own:paymentDate>03/18/2026</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</own:nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <own:remarks>Aggregate value based on 5/11/26 stock price.  Number of shares outstanding as of 4/28/26.  The filing of this Form 144 shall not be construed as an admission that the undersigned is an Affiliate of the Issuer.</own:remarks>
    <own:noticeSignature>
      <own:noticeDate>05/12/2026</own:noticeDate>
      <own:signature>/s/ Jacob Tetlow</own:signature>
    </own:noticeSignature>
  </own:formData>
</own:edgarSubmission>
