Company: RIG
Filing Date: 2025-09-26
Form Type: 424B5
Source: 0001451505-25-000102
Chunk: 60

Company: Transocean Ltd.
Filing Date: 2025-09-26
Form: 424B5
Chunk 60
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 Forward-looking statements in this prospectus are identifiable by use of the following words and other similar expressions:

| ● “anticipates” | ● “could”     | ● “forecasts” | ● “might”    | ● “projects”  |
| ● “believes”    | ● “estimates” | ● “intends”   | ● “plans”    | ● “scheduled” |
| ● “budgets”     | ● “expects”   | ● “may”       | ● “predicts” | ● “should”    |

Such statements are subject to numerous risks, uncertainties and assumptions, including, but not limited to:

| ● | the effects of actions by, or disputes among or between, members of the Organization of Petroleum Exporting Countries and other oil and natural gas producing countries with respect to production levels or other matters related to the prices of oil and natural gas; |

| ● | the adequacy of and access to our sources of liquidity; |

| ● | our inability to renew drilling contracts at comparable, or improved, dayrates and to obtain drilling contracts for our rigs that do not have contracts; |

| ● | operational performance; |

| ● | the cancellation of drilling contracts currently included in our reported contract backlog; |

| ● | losses on impairment of long-lived assets; |

| ● | shipyard, construction and other delays; |

| ● | the results of meetings of our shareholders; |

| ● | changes in political, social and economic conditions; |

| ● | the effect and results of litigation, regulatory matters, settlements, audits, assessments and contingencies; |

| ● | the effects of public health threats, pandemics and epidemics and the potential adverse impacts thereof; and |

| ● | other factors discussed in this prospectus and in our other filings with the SEC, which are available free of charge on the SEC website at www.sec.gov. |

The foregoing risks and uncertainties are beyond our ability to control, and in many cases, we cannot predict the risks and uncertainties that could cause our actual results to differ materially from those indicated by the forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Each

iii

forward-looking statement speaks only as