Jeffery G. Browning Vice President – Audit Services and Chief Ethics and Compliance Officer

Jeff Browning is vice president of audit services and chief ethics and compliance officer for Duke Energy. He serves as the chief audit executive and provides executive oversight for the Duke Energy internal audit function. Browning is responsible for establishing the audit function’s strategic direction, ensuring the execution of a risk-based audit approach, attracting and developing exceptional professional talent, and serving as the function’s interface with the Audit Committee and executive management.

In his role as chief ethics and compliance officer, Browning directs Duke Energy’s compliance program, which provides oversight, tracking, and management of the organization’s compliance with laws, regulations and business conduct standards.

Browning joined Duke Energy in January 2001. He has held various positions in the financial services industry, including vice president of audit services for Genworth Financial and audit director for Transamerica Corporation. He also served as director of management assurance services for KPMG.

Browning received a bachelor of science degree in business administration, with an accounting concentration, from the Indiana University School of Business and earned a master of business administration degree from the University of Notre Dame Graduate School of Business. He also completed the Advanced Management Program at the Harvard Business School. Browning is a certified public accountant and certified internal auditor.

Browning serves as chairman of the board of governors for the Charlotte chapter of the Institute of Internal Auditors (IIA) and is also a member of the IIA’s international conference committee. An active member of the community, he has served in a volunteer capacity with the United Way of Central Carolinas, the Arts & Science Council, and the American Cancer Society. He is a graduate of the Charlotte Arts & Science Council Cultural Leadership Training Program and currently serves on the board of directors for the Children’s Theatre of Charlotte.

Duke Energy, one of the largest power companies in the United States, supplies and delivers electricity to approximately 4 million customers in the Carolinas and the Midwest. The company also distributes natural gas in Ohio and Kentucky. Its commercial power and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK.

April 14, 2009