THOMAS J. MCNULTY 2401 South Gessner #265 832.472.3717

Houston, TX 77063 tomjmcnulty@aol.com

TREASURY/M&A/CORPORATE FINANCE

VALUATION/RISK MANAGEMENT/STRATEGIC PLANNING

SEC REPORTING/ENERGY MARKETS/INTERNATIONAL EXPERTISE

CAREER HISTORY

Plains All American Pipeline, LP Houston, Texas 7/2010-3/2011

Assistant Treasurer

Managed all credit and financial services functions – department staffing of five personnel.

o Crude Oil, LPG, and Refined Products lines of business

o Obtained open credit from suppliers and producers-$1.4 billion

o Responsible for managing credit extension process with aggregate credit exposures of more than

$2.5 billion

o Managed all credit support instruments – incoming and outgoing; including L/C’s, cash collateral,

and parental guarantees

Maintained, enforced, and improved key SOX404 controls.

Part of merger integration team for two acquisitions-Southern Pines and Nexen USA.

Oversaw other financial services, including $275MM in leasing and the $500MM Hedged Inventory Facility.

One of two AT’s supporting Treasurer with:

o Multiple credit facilities

o Liquidity management

o Debt compliance, negotiation, and detailed covenant sensitivity analysis

o General support of our commercial and operating groups

o Negotiating & raising debt capital: debt capital markets, credit facilities, project financings

o Bank relations

o Rating agency contact and advocacy – Moody’s and S&P

o Preparation and delivery of Board of Directors presentations

o Development of bank and investor presentations

Primary Treasury professional assigned to PAA Natural Gas LP (NYSE=“PNG”)

o Regulated natural gas storage and merchant natural gas trading

o Developed PNG’s first cash forecast and liquidity model

o Established all credit policies and procedures

o Successfully negotiated $85MM in open credit lines for PNG Marketing LLC

o Approved more than $100MM in outbound open credit

Opportune, LLP Houston, Texas 4/2009-7/2010

Director-CFO Practice

Corporate Finance: Advised and assisted oil and gas companies and their bankers in the restructuring of more

than $175 MM in distressed senior and subordinated debt.

SEC Reporting: Advised and assisted CFO’s and CAO’s with 8K, 10K, and 10Q preparation with extensive

Big 4 interaction.

M&A Advisory: Led financial and accounting due diligence for client companies in the acquisition of $105

MM of oil and natural gas assets.

Complex Valuation Services: Assessed, analyzed, and documented the fair values of more than $145 MM of

commodity & financial derivatives, stock options, and performance grants for several clients.

Business Valuations: Firm specialist for valuation of closely held, illiquid businesses and business units.

THOMAS J. MCNULTY Page 2

Sirius Solutions, LLP Houston, Texas 8/2006-3/2009

Director-Financial Reporting and Operations Practice

SEC Reporting

Ensured the timeliness, completeness, accuracy, and reliability of financial information. Oversaw the

preparation of business unit financial statements and support for SEC filings for clients. Detected symptoms of

possible material errors and irregularities; identified types and symptoms of fraud. Ensured compliance with

corporate and public financial accounting and reporting standards.

Gathered, reviewed, consolidated, and reported corporate financial results for clients on a monthly, quarterly

and annual basis.

8K, 10K, and 10Q preparation

Direct contact with Big 4 Partners and Senior Managers

Specific technical specialization in ASC’s 350, 718, 805, 808, & 815-820 reporting requirements.

Risk Management

Measured and managed market, credit, and operational risk in business enterprises, as well as identified

associated legal, regulatory, and accounting issues. Led quarterly valuation analysis and documentation for

purposes of derivatives disclosures, hedge effectiveness, fair value of credit risk, interest rate & FX swaps, &

convertible debt deals. VaR and CFaR modeling.

Directed a credit risk project for the energy trading arm of a large New York bank, completing 155

counterparty credit reviews. The diverse list included large natural gas producers, midstream companies,

cogeneration facilities, energy traders and brokers, merchant power players, and several large industrials.

Led a project to migrate the valuation and complex options models from one bank’s energy risk system to an

acquiring bank’s system as part of a takeover. Led valuation efforts for power and gas assets as part of fresh-

start accounting for the new combined global commodities entity. Developed new approaches to cash flow

models and reporting, as well as power and gas hedge valuations. Used TriplePoint ETRM system.

Duke Energy Corporation Houston, Texas 4/1999-6/2006

Senior Director-Treasury & Risk Management, (1/2005-6/2006) Duke Energy Americas LLC

Leadership responsibility for corporate finance, capital structure and planning, banking relationships, credit and

collections, cash management, interest rate hedging, and risk management.

Led business unit negotiation and execution for $310MM multicurrency non-recourse financings for Latin

America power portfolio. Heavy focus on detailed covenant sensitivity analysis.

Engaged directly with third party financial institutions to secure financing for power generation projects on a

global basis.

Developed mitigation plans for key business risks.

Ensured development of capabilities within the business by managing the people pipeline and skills

development process. This included managing a team of 7 directly and 12 indirectly (overseas-Europe, Latin

America, & Asia-Pacific).

Expertise and experience in raising, structuring, negotiating, and managing third party capital/debt.

Served as business partner to business unit leader and CFO; assisted business unit in understanding the

financial implications of operating strategy and performance. Translated data into knowledge that business unit

leaders used in daily operations and in setting strategy.

Managed the A/R and A/P functions for the division.

Leveraged capital markets and banking relationships to manage cost of capital and optimal borrowing and

investment decisions. Demonstrated success in managing bank relations and interactions with investment

bankers, financial analysts, attorneys, rating agencies and board committees. Negotiated effectively to represent

corporate interests.

Exhibited leadership skills, including a proven ability to provide training and development to subordinates as

part of a coordinated, strategic talent development plan.

THOMAS J. MCNULTY Page 3

Treasury Director, (1/2003-12/2004) Duke Energy International LLC

Led global cash management and planning, emphasizing tax-effective repatriation & optimization, and Monte

Carlo risk modeling of corporate cash flows. Supervised global foreign exchange exposure and cash flow

forecasting. Spearheaded reduction of total offshore balance sheet cash by $100MM in 2003. Directed systemic

and procedural enhancements to quantify and mitigate cash-flow-at-risk.

Participated actively in corporate development and merger and acquisition activities, from deal generation,

initial screening and qualification, valuation and financial modeling, negotiations and contract development; to

signing, closing and deal integration, ensuring that business transactions maximized value and were integrated

smoothly.

Supported business development teams with deal support and expertise in structuring financial component of

projects.

Established key operating performance and productivity metrics that were measurable against predetermined

objectives.

Served as both a financial and business advisor to the chief financial officer and to other members of the top

leadership team. Contributed actively to the evolution and execution of the company’s strategic and operating

plans.

Advised on and researched cost of capital, optimal borrowing and investment decisions.

Highly adept at forecasting, working capital and liquidity management, as well as interest rate and currency

hedging, commodities trading and yield maximization.

Developed and recommended treasury and risk management policies and procedures to fully support the

corporate treasury function. Drafted all global cash management and banking policies and procedures as part

of Sarbanes-Oxley team.

Finance Manager, (1/2001-12/2002) Duke Energy International LLC

Designed operating plans, forecasts, and budgets. Led M&A valuation modeling of businesses as part of expansion

plans across three continents. Partnered with business unit leader in the development and measurement of plans

and forecasts, as well as with the commercial team for pipeline information to serve as inputs to forecasts.

Project Manager, (4/1999-12/2000) Duke Energy International LLC

Managed risk modeling and valuations of mergers and acquisitions (M&A) targets, including: Mission Energy,

UNA and EPON (Netherlands), International Power (UK), Endesa (Chile), and El Paso International.

Enron International LLC Houston, Texas 9/1996-3/1999

Associate, Corporate Finance Rotation Program

U.S. Department of State Washington, DC & Overseas 7/1990-8/1994

Foreign Service Officer

Brown Brothers Harriman and Co., New York, New York 8/1987-6/1990

Financial Analyst and Associate

EDUCATION AND CREDENTIALS

MBA, Finance and Accounting, 1996, Kellogg Graduate School of Management (Northwestern)

BA, History, cum laude, 1987, Yale University. Varsity football letterman.

FRM, Financial Risk Manager Certification, 2003 (GARP-London, UK)

Articulate Russian (US State Department Trained).