Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 81

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 81
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 was the Chair of the Health, Safety & Environment Committee with Mr. Mohn and Ms. Øvrum serving as members. The below information provides the members of the Governance, Safety & Environment Committee and its primary responsibilities. MEMBERS Frederico F. Curado Domenic J. “Nick” Dell’Osso, Jr. Frederik W. Mohn Margareth Øvrum The purpose of the Governance, Safety & Environment Committee is to carry out the responsibilities delegated by the Board of Directors relating to the Company’s corporate governance matters and health, safety environment and sustainability matters. PRIMARY RESPONSIBILITIES The responsibilities of the Governance, Safety and Environment Committee include, among others, the following: ■Identifying, evaluating and recommending to the Company’s Board of Directors individuals qualified to be nominated and elected to the Board of Directors in accordance with criteria set by the NYSE, SEC and Board of Directors; ■Periodically reviewing the Articles of Association and the Organizational Regulations of the Company and recommending any changes to the Board of Directors; ■Developing and evaluating corporate governance principles and policies applicable to the Company, including our Corporate Governance Guidelines, and recommending any changes to the Board of Directors; ■Assessing and recommending committee assignments, structure, duties and operations, and reporting to the Board of Directors; ■Overseeing the annual evaluation of the performance of the Board of Directors; ■Reviewing and overseeing the Company’s programs, policies and practices with respect to health, safety, environment, and sustainability matters relevant to the Company’s operations, performance, and strategic planning; and ■Exercising oversight of sustainability reporting that does not require third party assurance and does not otherwise fall within the scope of the Audit Committee’s responsibilities.

Transocean 2025 P-83 Proxy Statement

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| BOARD MEETINGS AND COMMITTEES | ​ |

Director Compensation Strategy Directors who are employees of the Company do not receive compensation for service on the Board of Directors. All of the directors in the 2024/2025 term except Mr. Thigpen, as Chief Executive Officer, were non-employees that receive compensation for their service on the Board of Directors. We use a combination of cash and equity compensation to attract and retain qualified candidates to serve on the Board of Directors. The Board of Directors believes that any compensation method should be weighted more toward compensation in the form of equity in order to more closely align director compensation with shareholders’ interests. In the 2024/2025 term, non-employee director target compensation in U