Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 19

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 19
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 on this report is advisory. As required by the Swiss Code, the report addresses certain environmental, social, employee-related, human rights and anti-corruption topics. Our Swiss Statutory Report on Non-Financial Matters for the fiscal year 2024 is included in Appendix B.

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

Transocean 2025 P-26 Proxy Statement

AGENDA ITEM 2 Discharge of the Members of the Board of Directors and the Executive Management Team from Liability for Activities During Fiscal Year 2024 PROPOSAL OF THE BOARD OF DIRECTORS

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| The Board of Directors proposes that the members of the Board of Directors and Messrs. Jeremy D. Thigpen, R. Thaddeus Vayda, Keelan I. Adamson and Mark L. Mey, who served as members of our Executive Management Team in 2024, be discharged from liability for activities during fiscal year 2024. |

EXPLANATION As is customary for Swiss corporations and in accordance with Article 698, subsection 2, item 5 of the Swiss Code, shareholders are requested to discharge the members of the Board of Directors and our Executive Management Team from liability for their activities during the past fiscal year. Discharge pursuant to the proposed resolution is only effective with respect to facts that have been disclosed to shareholders (including through any publicly available information, whether or not included in our filings with the SEC) and only binds shareholders who either voted in favor of the proposal or who subsequently acquired shares with knowledge that the shareholders have approved this proposal. In addition, shareholders who vote against this proposal, abstain from voting on this proposal, do not vote on this proposal, or acquire their shares without knowledge of the approval of this proposal, may bring, as a plaintiff, any claims in a shareholder derivative suit within 12 months after the approval of the proposal. After the expiration of the 12-month period, such shareholders will generally no longer have the right to bring, as a plaintiff, claims in shareholder derivative suits against members of the Board of Directors or Executive Management Team with respect to activities during fiscal year 2024.

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| RECOMMENDATIONThe Board of Directors recommends a vote FOR this Agenda Item 2. |

Transocean 2025 P-27 Proxy Statement

AGENDA ITEM 3 Appropriation of the Accumulated Losses for Fiscal Year 2024