David Frankenberg Email & Phone Number

Nashville, Tennessee, Us

•Oversees company financial strategic direction and responsible for accounting, finance and treasury, external/internal audit, compliance, enterprise risk, insurance, pension and related funding oversight, rate development and analysis, and procurement • Implemented monthly business performance reports as well as cross-departmental savings and use process• Current Executive Sponsor for current major Customer Information System (meter and billing) transformation project as well as upgrade of Financial Information and Procurement System, reducing meter and billing system budget by approximately 20%.• Oversaw development of new rate structure around electric vehicles and implementation of TVA local generation program• Lead interactions with ratings agencies/lenders, including two major ratings firms as a AA+ rated Public Power Entity; completed largest ever bond issuance and re-financing transaction in NES history ($400M+) • As board secretary, streamlined monthly board reporting process and internal materials collection and review and work one-on-one with board members around financial education and collaboration• Developed multi-year financial plan and successfully executed strategy to delay rate increase in second year in role

Little Rock, Arkansas, Us

• Responsible for the overall financial strategic direction for both the regulated utility and for-profit businesses, covering accounting, tax, budgeting, planning, treasury, procurement, and facilities • Led interactions with ratings agencies/lenders, including all three major ratings firms as well as RUS, CFC, and private banks, as one of only three Cooperative G&Ts with a AA- or better credit rating • Reported monthly to full board of directors for both regulated/for-profit entities with quarterly audit committee touch points • Developed long-range financial management plan that supports integrated resource planning, financial metric achievement, and business strategic planning (including responses to accelerated coal plant closures and winter storm recoveries) • Spearheaded efforts to initiate ERP needs assessment and organizational structure and resource benchmarking • Provided parent company guidance and board support for ERMCO, the largest distribution transformer manufacturer in North America, and Today’s Power Incorporated, a solar generation developer providing services throughout the U.S. • Coordinated with other business units to create Arkansas Fiber Network, a subsidiary that leverages the Cooperative’s fiber network to enable broadband connectivity throughout the state and support distribution level “fiber-to-home" initiatives • Implemented monthly performance reviews as well as ten-year board planning options to facilitate discussions around patronage retirement, rates, and investment levels to support credit rating and long-term financial health • Coordinated with legal around collaboration and strategy with the State of Arkansas Public Service Commission (PSC)

• Responsible for developing TVA's Long Range Financial Plan (20+ years) to achieve strategic objectives of the organization • Provided leadership and direction in the oversight of forecasting all key drivers of the electric power market and the impact to TVA’s service territory, including weather, economics, technology, consumer behavior, and logistics.• Collaborated with other key departments on the development of alternative scenarios and considerations, including impacts of COVID-19• Oversaw the development of approximately 25 professionals (including Managers and Senior Managers) plus seasonal interns and contractors• One of 24 TVA employees selected in 2020 to participate in TVA's Advanced Leadership Program, which partners with the Center for Creative Leadership to develop future executives

• Informed enterprise risk decisions for use in TVA’s strategic plan, including the development of a new risk framework for evaluation of multiple strategic options• Coordinated risk assessment process throughout 26 business units at TVA• Developed and executed cross-cutting deep dive risk alignments and risk assessments across multiple business units, including topics such as environmental compliance, cybersecurity, and employee safety• Facilitated discussion around appropriate metrics and indicators to Executive Management and TVA’s Board of Directors and Audit, Risk, and Regulation committee• Implemented and governed TVA’s Fraud Risk Management Program with integration to associated ethics and audit departments• Conducted domestic and foreign road shows with TVA’s Corporate Insurance program to sell TVA’s performance and story in an effort to obtain appropriate coverage at the lowest rates possible• Documented TVA’s initial COSO 2017 ERM framework compliance to illustrate alignment with components (obtained personal AICPA COSO ERM Certification)

Relations activities • Oversaw SEC and Federal filing processes, including leading Ernst & Young audit interaction, and drove best in class format improvements while adhering to a 45 day 10-K reporting timeline• Responsible for oversight of accounting policy development and technical GAAP/SEC research, including Revenue and Lease Accounting projects • Coordinated the accounting processes for TVA’s $3.5B of annual fuels expense, driving automation of fuel cost adjustment process• Responsible for TVA Financial System support (general ledger and internal reporting) as well as external billing for TVA’s non-power revenue• Oversaw the development of approximately 25 professionals (including Managers and Senior Managers) plus seasonal interns and contractors• Established streamlined monthly and quarterly close processes, including post-close entry reviews and automated closing checklist process• Oversaw TVA’s tax equivalents process

• Supported the accounting and budgeting for all non-Generation activities, including HR, IT, Financial Services, Supply Chain, Facilities, Customer Relations, Economic Development, Legal• Actively collaborated with “C”-Suite officers to evaluate business results, evaluate trends and run rates, review savings and use options, and develop forecasts for consolidated reporting• Coordinated the implementation of SOX/Accounting Policy decisions across the business• Oversaw the development of approximately 20 professionals (including Managers) plus seasonal interns and contractors

• One of 35 TVA employees selected in 2011 to attend a six-week MBA Leadership and Management for Accelerated Performers Program taught by Vanderbilt University’s Owen School of Business • Oversaw compliance regarding management’s attestation to internal controls over financial reporting, including coordination of related external audit and reporting of result to CEO and Audit Committee• Drove improved SOX environment to reduce total control fails by 45% and open deficiencies at 10-K filing by 60% over two-year cycle• Spearheaded efforts to implement New Hire Training, Systems Training, and in-house CPE process• Coordinated ERM assessments and mitigation plan documentation for Financial Services • Oversaw the development of approximately 8 professionals plus seasonal interns and contractors

• Monitored all emerging accounting literature and documented the impact to TVA’s accounting• Oversaw monthly internal reporting obligations and led monthly review meetings to explain key drivers of operational results and budget variance explanations for functions supporting COO• Developed disclosures for Securities and Exchange Commission (SEC) reporting purposes, including implementation of fair value accounting, restatement effort, derivatives, etc.• Implemented department monthly processes and on-line accessibility of opinion papers• Oversaw the development of approximately 6 professionals

Us

• Oversaw department of thirteen individuals for a start-up company with revenues of $350M• Developed internal reporting package for senior management and discussed monthly with the CEO • Responsible for development of all external reporting, including financial statements, quarterly MD&A for creditors, and financial portion of board of directors presentation• Led KPMG auditor interaction, including negotiation of audit fees• Implemented start-up processes for department activities and balance sheet reconciliations• Responsible for various ad-hoc projects including accounting for product acquisitions, accounting research, company policy development, impairment analysis lender presentations, etc.

Us

Knoxville, Tn, Us

Bristol, Tn, Us

Bachelor Of Science (B.S.), Accounting

Master Of Science (M.S.), Accounting