Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 64

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 64
---
 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 BELIEVE THAT OUR ACTIONS HAVE REFLECTED OUR LONG-STANDING ADHERENCE TO THOSE HIGH STANDARDS. ■We annually review and, as necessary, update our Corporate Governance Guidelines and our Code of Integrity. ■We conduct online mandatory training for our employees and officers on our Code of Integrity and other relevant compliance topics. ■We also require all of our officers and managerial and supervisory employees to certify compliance with our Code of Integrity each year and to proactively report any non-compliance they may discover. ■Management and the Board of Directors solicit and are responsive to shareholder feedback that informs our governance practices. The Governance, Safety & Environment Committee of the Board of Directors evaluates the Company’s and the Board of Directors’ governance practices and formally reviews, at least annually, all committee charters, with recommendations from the various committees of the Board of Directors, and the Board of Directors’ governance principles. The Governance, Safety & Environment Committee receives updates at each meeting regarding new developments and regulatory trends in the corporate governance arena. Our Corporate Governance Guidelines and committee charters also require, among other things, that each committee and the Board of Directors annually conduct a self-evaluation of their own performance. The evaluation provides an opportunity for an assessment of each member of the Board of Directors. Director Shareholding Requirement

| ​                       | ​                       |
|