Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 18

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 18
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| RECOMMENDATIONThe Board of Directors recommends that you vote FOR this Agenda Item 1A. |

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| 1B | Advisory Vote to Approve Swiss Statutory Compensation Report for Fiscal Year 2024 |

PROPOSAL OF THE BOARD OF DIRECTORS

EXPLANATION The Swiss Code requires that we prepare each year a separate Swiss Statutory Compensation Report. The current Swiss Statutory Compensation Report sets forth, for the years ended December 31, 2024 and 2023, the aggregate compensation of the members of the Board of Directors and the members of the Company’s Executive Management Team. Swiss law further requires us to submit our Swiss Statutory Compensation Report annually to shareholders for approval on an advisory basis. With regard to the compensation of our Executive Management Team, we note that at the 2024 Annual General Meeting, shareholders ratified, with a 98.3% approval, the fiscal year 2025 maximum aggregate compensation amount for our Executive Management Team in the aggregate amount of $26 million. Shareholders also ratified at that meeting, with a 98.6% approval, the maximum aggregate compensation amount for the Board of Directors (for the period between the 2024 Annual General Meeting and the 2025 Annual General Meeting) in the aggregate amount of $4.121 million. Our 2024 Swiss Statutory Compensation Report accompanies this proxy statement and is part of our Annual Report.

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| RECOMMENDATIONThe Board of Directors recommends that you vote FOR this Agenda Item 1B. |

Transocean 2025 P-25 Proxy Statement

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| AGENDA ITEM 1 | ​ |

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| 1C | Advisory Vote to Approve Swiss Statutory Report on Non-Financial Matters for Fiscal Year 2024 |

PROPOSAL OF THE BOARD OF DIRECTORS

EXPLANATION In accordance with the Swiss Code, companies organized in Switzerland that have equity securities listed on a securities exchange and exceed, on a consolidated basis, certain workforce and financial thresholds are required to prepare a report on non-financial matters and submit the report to a vote of shareholders at each annual general meeting. The Company meets such thresholds, and accordingly, shareholders are being asked to approve at the 2025 Annual General Meeting our Swiss Statutory Report on Non-Financial Matters for the fiscal year 2024. The shareholder vote on this report is advisory. As required by the Swiss Code, the