PINNACLE WEST CAP CORP

Ticker: PNW CUSIP: 723484101 Class: COM

SIR Capital Management, L.P.'s Holding History (CIK: 0001434997)

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

Q1 2015

Shares 131,700 Value ($000) $8,396 Avg Close $43.61 Range $40.31 - $47.62

Q4 2014

Shares 104,965 Value ($000) $7,170 Avg Close $40.25 Range $35.11 - $46.19

Q3 2014

Shares 81,400 Value ($000) $4,448 Avg Close $35.72 Range $33.53 - $37.13

Q4 2013

Shares 15,798 Value ($000) $836 Avg Close $34.02 Range $32.61 - $36.23

Q3 2013

Shares 103,965 Value ($000) $5,691 Avg Close $34.55 Range $32.11 - $37.02

Q2 2013

Shares 38,400 Value ($000) $2,130 Avg Close $35.40 Range $31.53 - $37.84

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	131,700	$8,396	$43.61	$40.31 - $47.62
Q4 2014	104,965	$7,170	$40.25	$35.11 - $46.19
Q3 2014	81,400	$4,448	$35.72	$33.53 - $37.13
Q4 2013	15,798	$836	$34.02	$32.61 - $36.23
Q3 2013	103,965	$5,691	$34.55	$32.11 - $37.02
Q2 2013	38,400	$2,130	$35.40	$31.53 - $37.84