Workspace:
  - App:
    - MainApp (iOS app)
    - MainAppTests (iOS unit tests)
  - Framework1:
    - Framework1 (dynamic iOS framework)
    - Framework1Tests (iOS unit tests)

A standalone Framework2 project is used to generate a prebuilt dynamic framework:

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  - Framework2:
    - Framework2 (dynamic iOS framework)

Dependencies:

App -> Framework1
Framework1 -> Framework2 (prebuilt)

Note: to re-create Framework2.framework run ios_app_with_transitive_framework/Framework2/build.sh

Check out example