Waiting to hear back from company A I interviewed with - received another job offer from company B that I will 99% take. Should I tell company A?

I had a very good interview with company A, but I have no clue if I'd be offered the position. I didn't have a lot of experience in the specific role they are looking for, but I have experience in the general field. I was interested in the position of company A, but I think the current offer (company B) is an equally good opportunity. Because this offer is guaranteed, I plan to take it.

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Once I sign with company B, should I reach out to company A to withdraw my application, or wait to see if they offer me a position, and then tell them? The main reason I would want to tell them in advance is because I don't want them to go through any extra work and then I'm not actually able to take the position. However I also don't want to sound arrogant when they haven't actually offered me a job yet. It is a large, affluent company so I'm sure they aren't having issues finding other candidates, and even if they offered me a job, they will probably have backups in mind.

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Thanks!

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