Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 63

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 63
---
 Agenda Item 13A. |

Transocean 2025 P-67 Proxy Statement

| ​              | ​ |
| AGENDA ITEM 13 | ​ |

| ​   | ​                                                                 |
| 13B | Approval of Capital Authorization for Share-Based Incentive Plans |

PROPOSAL OF THE BOARD OF DIRECTORS

| The Board of Directors proposes that its authority to issue shares using a capital authorization to satisfy the Company’s equity incentive plans obligations be reapproved, and any share issuances thereunder be limited to 16,000,000 shares, corresponding to approximately 1.7% of the Company’s issued share capital as of March 6, 2025 for a five-year period expiring on May 30, 2030.The proposed amendments to the Articles of Association in respect of this Agenda Item 13B are included in Annex A. |

EXPLANATION The Board of Directors believes that the Company must be able to satisfy its obligations to deliver shares under its equity incentive plans in effect from time to time. The number of shares that the Company seeks authorization to issue under the capital authorization described in this Agenda item 13B is approximately equivalent to the number of shares that would be issuable under the 2015 LTIP if shareholders approve Agenda item 13A. All shares under the proposed authorization would be issuable without advance subscription rights or preemptive rights as provided for in our Articles of Association in accordance with the Swiss Code and used to satisfy the share delivery requirements pursuant to the Company’s equity incentive plans in effect from time to time. The Board of Directors believes that the authorization under this Agenda Item 13B is advisable for shareholders to approve for the Company to be able to satisfy its obligations to deliver shares under its equity incentive plans, consistent with the authorization granted at the 2024 Annual General Meeting. As of March 6, 2025, the issued share capital of the Company consisted of 940,828,901 shares. Shareholder approval of the current proposal would grant the Company authority to issue 16,000,000 additional shares pursuant to this authorization for a five-year period expiring May 30, 2030.

| ​                                                                                       |
| RECOMMENDATIONThe Board of Directors recommends that you vote FOR this Agenda Item 13B. |

Transocean 2025 P-68 Proxy Statement

CORPORATE GOVERNANCE WE ARE COMMITTED TO UPHOLDING HIGH STANDARDS OF CORPORATE GOVERNANCE AND BUSINESS CONDUCT AND BELIE