Company: RIG
Filing Date: 2025-09-24
Form Type: 424B5
Source: 0001451505-25-000097
Chunk: 45

Company: Transocean Ltd.
Filing Date: 2025-09-24
Form: 424B5
Chunk 45
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 or other securities, in cash or otherwise, or publicly disclose the intention to enter into any such transaction, without, in each case, the prior written consent of the representatives for a period of 60 days (the “Restricted Period”) after the date of this prospectus supplement.

These lock-up restrictions are subject to certain specific exceptions, including (but not limited to) (a) transactions relating to our shares or other securities acquired in open market transactions after the completion of the offering; provided that no filing under Section 16(a) of the Exchange Act shall be required or shall be voluntarily made in connection with subsequent sales of our shares or other securities acquired in such open market transactions, (b) transfers of our shares or any security convertible into our shares as a bona fidegift; providedthat any such transfer shall not involve a disposition for value, (c) distributions of our shares or any security convertible into our shares to limited partners or shareholders of the lock-up party; provided that in the case of any transfer or distribution pursuant to above clause (c), (i) each donee or distributee shall sign and deliver a lock up agreement substantially in the form of this agreement and (ii) no filing under Section 16(a) of the Exchange Act, reporting a reduction in beneficial ownership of our shares, shall be required or shall be voluntarily made during the Restricted Period, (d) facilitating the establishment of a written trading plan on behalf of a shareholder, officer or director of Transocean pursuant to Rule 10b5-1 under the Exchange Act for the transfer of our shares (a “10b5-1 Plan”); provided that (i) such plan does not provide for the transfer of our shares during the Restricted Period and (ii) to the extent a public announcement or filing under the Exchange Act, if any, is required of or voluntarily made by or on behalf of the lock-up party or Transocean regarding the establishment of such plan, such announcement or filing shall include a statement to the effect that no transfer of our shares may be made under such plan during the Restricted Period, (e) sales made pursuant to a 10b5-1 Plan entered into prior to the effective date of the underwriting agreement and (f) sale or transfers for up to 400,000 shares by certain officers of Transocean.

The representatives, in their sole discretion, may release the shares and other securities subject to the lock-up agreements described above in whole or in part at any time. When determining whether or not