Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 3

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 3
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 “Notice”) to our shareholders as of the close of business on [ ], 2025. All shareholders will have the ability to access the proxy materials on the website referred to in the Notice or to request to receive a printed set of the proxy materials. Instructions on how to access the proxy materials over the internet or to request a printed copy may be found in the Notice. The Notice also provides instructions on how to submit your proxy over the internet, by telephone or via mail. If you receive the Notice, you will not receive a printed copy of the proxy materials unless you request one in the manner set forth in the Notice or as otherwise described in the proxy statement. A copy of the proxy materials, including a proxy card or voting instruction form, will also be sent to any additional shareholders who are registered in our share register as shareholders with voting rights, or who become beneficial owners through a nominee registered in our share register as a shareholder with voting rights, as of the close of business on May 12, 2025, but who were not registered as of March 25, 2025. The Notice or proxy statement and form of proxy, as appropriate, are first being mailed or sent, as appropriate, to shareholders on or about [ ], 2025. A note to Swiss and other European investors: Transocean Ltd. is incorporated in Switzerland, has issued registered shares and trades on the New York Stock Exchange (“NYSE”); however, unlike some Swiss incorporated companies, share blocking and re-registration are not requirements for any shares of Transocean Ltd. to be voted at the meeting, and all shares may be traded after the record date. Thank you in advance for your vote.

Transocean 2025 P-2 Proxy Statement

| ​ | ​                      |
| ​ | NOTICE TO SHAREHOLDERS |

Sincerely,

| ​ | ​                               | ​ | ​ | ​                       |
|   | ​                               | ​ |   | ​                       |
| ​ | ChaDWICK C. Deaton              |   | ​ | Jeremy D. Thigpen       |
| ​ | Chair of the Board of Directors | ​ | ​ | Chief Executive Officer |

[ ], 2025

Transocean 2025 P-3 Proxy Statement

PROXY STATEMENT SUMMARY 2025 ANNUAL GENERAL MEETING DETAILS

| ​                    
 WHEN                 
 Friday, May 30, 2025 | ​                     
 WHERE                 
 Parkhotel Zug         | RECORD DATE  
 May 12, 2025 |
|:----------------