Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 75

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 75
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rum                  | ​ | ✓           | ​ |                                (2)​ | ​ |            ​ | ​ |       ​ | ​ |                                     |     | ​  |
| Jeremy D. Thigpen                | ​ | ​           | ​ |                                     | ​ |            ​ | ​ |       ​ | ​ |                                   ​ |     | ​  |
| MEETINGS IN 2024                 | ​ | ​           | ​ |                                   9 | ​ |            4 | ​ |       5 | ​ |                                   6 |     | ​  |

|                 | ​ |     |                  | ​ |     |                                                 | ​ | ​ |   |                                                                                                          |
| Committee Chair | ​ |     | Committee Member | ​ |     | Audit Committee financial expert (SEC and NYSE) | ​ | ​ | ✓ | Independent, as determined by the Board of Directors in accordance with applicable rules and regulations |

| (1) | During 2024, the Board of Directors combined the HSES Committee and the former Corporate Governance Committee into the Governance, Safety & Environment Committee. The number of committee meetings held includes two meetings held by each of the former HSES Committee and former Corporate Governance Committee. |

| (2) | Ms. Øvrum previously served on the Audit Committee through fiscal year 2024 and into 2025. |

Transocean 2025 P-77 Proxy Statement

|                               | ​ |
| BOARD MEETINGS AND COMMITTEES | ​ |

| ​ | ​                                     |
|   | AUDIT COMMITTEE | Meetings in 2024: 9 |

MEMBERS Vanessa C.L. Chang Glyn A. Barker Samuel J. Merksamer Ms. Øvrum served on the Audit Committee throughout fiscal year 2024 and into 2025. Mr. Merksamer was appointed as a member in early 2025. The Board of Directors requires that all members of the Audit Committee meet the financial literacy standard required under the NYSE rules and that at least one member qualifies as having accounting or related financial management expertise under the NYSE rules. In addition, the SEC has adopted rules requiring that we disclose whether or not the Audit Committee has an “audit committee financial expert” as a member. An “audit committee financial expert” is defined as a person who, based on his or her experience, possesses all of the following attributes: ■An understanding of generally accepted accounting principles and financial statements; ■The ability to assess the general application of such principles in