Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 99

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 99
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 reporting requirements such as the European Sustainability Reporting Standards (“ESRS”) contained in the EU Corporate Sustainability Reporting Directive (“CSRD”) and other anticipated reporting standards such as the International Financial Reporting Standards (“IFRS”) Climate-Related Disclosures which is based on the Task Force on Climate-Related Financial Disclosures (“TCFD”) framework. The CSRD is applicable to the Company in FY 2025 for reporting year 2026. The Sustainability Governance goal contains two primary and two secondary objectives related to preparation for TCFD and ESRS compliance. ■The primary TCFD performance criteria are to adopt and implement the required framework with secondary performance criteria based on integrating into our Enterprise Risk Management System the risks identified in the TCFD implementation.

Transocean 2025 P-102 Proxy Statement

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| ​ | COMPENSATION DISCUSSION AND ANALYSIS |

■The primary ESRS performance criteria are to complete a Double Materiality Assessment to identify the required disclosures with secondary performance criteria based on completing a Gap Analysis on each required ESRS disclosure. Completion of each measure’s primary performance criteria objectives results in 5% achievement toward the cumulative Sustainability Governance Goal, weighted in total at 10%. Results of the primary performance criteria are binary. Completion of the secondary performance criteria for each measure modifies the primary measure achievement result between 100% and 200% as described in the scorecard below:

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| ●    The overall Governance Performance payout range is 0% - 20%.                                                                               |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| ●    The primary TCFD and ESRS payout calculations are binary and are valued at 5% each.                                                        |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| ●    The integration in ERM and the ESRS Gap Analysis are secondary elements that serve as modifiers in the governance performance calculation. |                                                                                                                                                                                                                                                                                                                                                                                                                                                      |   |
| ​                                                                                                                                               | ●    The ERM integration will action the inventory of climate-related risks identified in the primary TCFD goal by embedding it in the Company’s risk management system. The inclusion of each risk in the ERM determines the performance outcome on a straight-line interpolation, which is determined based on a calculation of the total number of inventory items embedded in the ERM divided by the total number of risks identified.           |   |
| ​                                                                                                                                               | ●    The Gap Analysis will action the inventory of required ESRS disclosures identified in the primary ESRS goal (DMA) by comparing it