Company: RIG
Filing Date: 2025-09-26
Form Type: 424B5
Source: 0001451505-25-000102
Chunk: 36

Company: Transocean Ltd.
Filing Date: 2025-09-26
Form: 424B5
Chunk 36
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potentially in connection with a QEF election) if applicable requirements are satisfied, a U.S. Holder that holds shares during a period in which we are a PFIC will be subject to the foregoing rules for that taxable year and all subsequent taxable years in which the U.S. Holder holds shares, even if we cease to be a PFIC. There are several forms of purging election with various requirements, each of which may result in adverse U.S. federal tax consequences. Classification as a PFIC may have other adverse tax consequences, including in the case of individual U.S. Holders, the denial of a step-up in the tax basis of the shares at death. The PFIC rules are very complex. U.S. Holders are urged to consult their tax advisors regarding the potential application of the PFIC rules to their investment in the shares, including the advisability of choosing to make a QEF election, mark-to-market election or purging election. Backup Withholding and Information Reporting Dividend payments made to U.S. Holders and proceeds paid from the sale or other disposition by U.S. Holders of shares may be subject to information reporting and possible U.S. federal backup withholding. Certain exempt recipients (such as corporations) are not subject to these information reporting or backup withholding requirements. Backup withholding generally will not apply to a U.S. Holder who furnishes a correct taxpayer identification number (generally, on IRS Form W-9) and makes any other required certification, or who is otherwise exempt from backup withholding. Backup withholding is not an additional tax and may be credited against a U.S. Holder’s regular U.S. federal income tax liability or, if in excess of such liability, refunded by the IRS if a timely refund claim is filed with the IRS. Information Reporting Regarding Foreign Financial Assets Individual U.S. Holders that hold “specified foreign financial assets” (which generally includes stock and other securities issued by a foreign person unless held in an account maintained by certain financial institutions) that exceed certain thresholds are required to report to the IRS information relating to such assets. Under certain circumstances, an entity may be treated as an individual for purposes of these rules. Significant penalties may apply for failure to satisfy these reporting obligations. Individual U.S. Holders are urged to consult their tax advisors regarding the effect, if any, of these reporting obligations on their investment in the shares. Non-U.S. Holders Distributions on the Shares Subject to the discussion under “—Backup Withholding and Information Reporting” below, a Non-U.S