Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 83

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 83
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 | ​ |
| Frederik W. Mohn                 | ​ |         100,000 | ​ |   | ​ |   217,954 | ​ |   | ​ | —            | ​ | ​ | 317,954 | ​ |
| Edward R. Muller(2)              | ​ |          41,250 | ​ |   | ​ |         — | ​ |   | ​ | —            | ​ | ​ |  41,250 | ​ |
| Margareth Øvrum                  | ​ |         100,000 | ​ |   | ​ |   217,954 | ​ |   | ​ | —            | ​ | ​ | 317,954 | ​ |

(1) This represents the aggregate grant-date fair value under accounting standards for recognition of share-based compensation expense for restricted share units granted to our directors in 2024. For a discussion of our policies for estimating fair values of, and additional information about, our share-based awards, please see Notes to Consolidated Financial Statements—Note 2—Significant Accounting Policies and Note 14—Share-Based Compensation included in Item 8 of our annual report on Form 10-K for the fiscal year ended December 31, 2024. (2) Mr. Muller retired from the Board of Directors in accordance with our Corporate Governance Guidelines following the completion of his term of service, which concluded at the 2024 Annual General Meeting.

Transocean 2025 P-85 Proxy Statement

AUDIT COMMITTEE REPORT The Audit Committee, consisting of three independent directors, operates under the Audit Committee Charter as adopted by the Board of Directors, in overseeing: ■The integrity of the financial reporting process resulting in the Company’s financial statements; ■Compliance with legal and regulatory requirements;

| ■ | The reporting and assurance process for sustainability disclosures that require third party assurance; |

■The independence, qualifications and performance of the Company’s independent registered public accounting firm, Ernst & Young LLP (“EY”); and ■The performance of the internal audit function. The Audit Committee also recommends our statutory auditor pursuant to the Swiss Code to the Board of Directors and to shareholders for approval at a general meeting of shareholders. The Audit Committee complied in 2024 with all of the requirements described in its Charter, which is available on the Governance page of the Company’s website: www.deepwater.com. The Board of Directors has determined that all the members of the Audit Committee are independent, in accordance with criteria set by the NYSE