Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 98

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 98
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 work-related injuries or illnesses that result in medical care or treatment beyond minor first aid. The result is the number of such occurrences for every 200,000 hours worked. The cumulative Safety & Environmental Performance achievement is calculated using a scorecard, which determines the outcome based on the Operational Integrity and Occupational Safety results.

| ■ | Occupational Integrity results are based on the prevention of Tier 1 and Tier 2 Operational Integrity events. In the event a Tier 1 event occurs, the entire Safety & Environmental Performance achievement component is automatically reduced to 0%. In the event a Tier 2 event occurs, the Safety & Environmental Performance maximum achievement possible is reduced from 200% to 150%. |

Transocean 2025 P-101 Proxy Statement

|                                      | ​ |
| COMPENSATION DISCUSSION AND ANALYSIS | ​ |

| ■ | Occupational Safety performance is calculated based on TRIR performance relative to target. The Committee approved a TRIR target for 2024 of 0.22 based on input from the GSE Committee. This target represents a five-year actual TRIR results and applies to a 0.95 modifier to ensure the pursuit of continuous improvement. The TRIR target has increased by 29% in the last 5 years driven by continuously improving TRIR results. |

In setting the threshold and maximum values, the Committee applied a 25% range above and below target. This range created a threshold, or entry point, of 0.28 and a maximum of 0.17.

|                                   | ​ | ​ |              | ​ |
| TRIR TARGET AND PERFORMANCE RANGE | ​ |   | BONUS PAYOUT 
 (%)          |   |
| Entry (Threshold) = 0.28          | ​ | ​ | 0%           | ​ |
| Mid-Point (Target) = 0.22         | ​ | ​ | 100%         | ​ |
| Maximum = 0.17                    | ​ | ​ | 200%         | ​ |

Environmental & Safety Performance Scorecard: Comprehensive measures are in place to safeguard against underreporting of safety events by our workforce. These measures encompass a robust framework of oversight, including stringent auditing procedures, transparent reporting mechanisms, and a culture of accountability aimed at fostering an environment where safety reporting is conducted without concern for retaliation. Sustainability Governance Performance Upon recommendation from the GSE Committee, the Committee approved the Sustainability Governance Performance measure for the 2024 award based on the critical imperative that the Company is prepared to comply with new sustainability