Company: RIG
Filing Date: 2025-09-26
Form Type: 424B5
Source: 0001451505-25-000102
Chunk: 4

Company: Transocean Ltd.
Filing Date: 2025-09-26
Form: 424B5
Chunk 4
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 maintaining agreements with labor unions. |

Forward-looking statements are identifiable by use of the following words and other similar expressions:

| · | anticipates | · | budgets | · | estimates | · | forecasts | · | may   | · | plans    | · | projects  | · | should |
| · | believes    | · | could   | · | expects   | · | intends   | · | might | · | predicts | · | scheduled |   |        |

Such statements are subject to numerous risks, uncertainties and assumptions, including, but not limited to:

| ● | the effects of actions by, or disputes among or between, members of the Organization of Petroleum Exporting Countries and other oil and natural gas producing countries with respect to production levels or other matters related to the prices of oil and natural gas; |

| ● | the adequacy of and access to our sources of liquidity; |

| ● | our inability to renew drilling contracts at comparable, or improved, dayrates and to obtain drilling contracts for our rigs that do not have contracts; |

| ● | our operational performance; |

| ● | the cancellation of drilling contracts currently included in our reported contract backlog; |

| ● | losses on impairment of long-lived assets; |

| ● | shipyard and other delays; |

| ● | the results of meetings of our shareholders; |

| ● | changes in political, social and economic conditions, including the effects of political and military disputes; |

| ● | the possibility of changes in tax, environmental, trade, immigration and other laws, regulations and policies, including the imposition of tariffs, economic or trade sanctions or other trade barriers and actions of government that impact, whether directly or indirectly, oil and gas operations; |

| ● | the effect and results of litigation, regulatory matters, settlements, audits, assessments and contingencies; |

| ● | the effects of public health threats, pandemics and epidemics and the potential adverse impacts thereof; |

| ● | the availability of borrowings under our bank credit facility; |

| ● | the expected use of proceeds for the repayment or redemption of indebtedness, including the repayment or redemption of a portion of the $655 million aggregate principal amount of the 8.00% Senior Notes due February 2027 issued by Transocean International Limited, a wholly owned subsidiary of the Company, to the extent such principal is not otherwise refinanced, repaid or redeemed; and |

| ● | other factors discussed in this prospectus supplement and in our other filings with the SEC