PINNACLE WEST CAP CORP

Ticker: PNW CUSIP: 723484101 Class: COM

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 7,263 Value ($000) $413 Avg Close $39.75 Range $37.04 - $42.55

Q1 2015

Shares 42,369 Value ($000) $2,701 Avg Close $43.61 Range $40.31 - $47.62

Q4 2014

Shares 30,812 Value ($000) $2,105 Avg Close $40.25 Range $35.11 - $46.19

Q3 2014

Shares 50,212 Value ($000) $2,744 Avg Close $35.72 Range $33.53 - $37.13

Q1 2014

Shares 9,300 Value ($000) $508 Avg Close $33.65 Range $32.14 - $35.28

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	7,263	$413	$39.75	$37.04 - $42.55
Q1 2015	42,369	$2,701	$43.61	$40.31 - $47.62
Q4 2014	30,812	$2,105	$40.25	$35.11 - $46.19
Q3 2014	50,212	$2,744	$35.72	$33.53 - $37.13
Q1 2014	9,300	$508	$33.65	$32.14 - $35.28