Company: RIG
Filing Date: 2025-09-26
Form Type: 424B5
Source: 0001451505-25-000102
Chunk: 99

Company: Transocean Ltd.
Filing Date: 2025-09-26
Form: 424B5
Chunk 99
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 national or international capital markets or through private placements. For further information on preemptive rights and advance subscription rights, see “Description of Transocean Ltd. Shares—Preemptive Rights and Advance Subscription Rights” above.

For other provisions that could be considered to have an anti-takeover effect, see “Description of Transocean Ltd. Shares—General Meetings of Shareholders” above.

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PLAN OF DISTRIBUTION The issuers may sell the offered securities in and outside the United States (1) through underwriters or dealers, (2) directly to purchasers, (3) through agents or (4) through a combination of any of these methods. The prospectus supplement will set forth the following information:

| ● | the terms of the offering, |

| ● | the names of any underwriters or agents, |

| ● | the purchase price of the securities, |

| ● | the net proceeds to the respective issuers from the sale of the securities, |

| ● | any delayed delivery arrangements, |

| ● | any underwriting discounts, commissions and other items constituting underwriters’ compensation, |

| ● | any initial public offering price, |

| ● | any discounts or concessions allowed or reallowed or paid to dealers, and |

| ● | any commissions paid to agents. |

Sale Through Underwriters or Dealers If underwriters are used in the sale, the underwriters will acquire the securities for their own account. The underwriters may resell the securities from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. Underwriters may offer securities to the public either through underwriting syndicates represented by one or more managing underwriters or directly by one or more firms acting as underwriters. Unless the issuer informs you otherwise in the prospectus supplement, the obligations of the underwriters to purchase the securities will be subject to certain conditions, and the underwriters will be obligated to purchase all the offered securities if they purchase any of them. The underwriters may change from time to time any initial public offering price and any discounts or concessions allowed or reallowed or paid to dealers. Underwriters may sell Transocean Ltd.’s shares under this prospectus by any method permitted by law deemed to be an “at the market” offering as defined in Rule 415 under the Securities Act, which includes sales made directly on the NYSE, on any other existing trading market for Transo