Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 74

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 74
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 Party Transactions In connection with our acquisition of Songa in 2018, Mr. Mohn acquired beneficial ownership of $355,813,000 aggregate principal amount of Transocean Inc.’s 0.5% Exchangeable Senior Bonds due 2023 (the “2023 Exchangeable Bonds”), including 2023 Exchangeable Bonds acquired by Perestroika AS (an entity affiliated with Mr. Mohn) as part of our private exchange offers undertaken to refinance certain of Songa’s previously outstanding indebtedness. All outstanding 2023 Exchangeable Bonds were repaid at their maturity as of January 30, 2023. In connection with our acquisition of Songa, we also entered into a registration rights agreement with Perestroika AS. This registration rights agreement provided certain customary registration rights over the 2023 Exchangeable Bonds received as part of our private exchange offers undertaken to refinance certain of Songa’s previously outstanding indebtedness and provides similar customary registration rights over any shares that Perestroika AS received in the acquisition as a former shareholder of Songa or that it may acquire in the future. In August 2020, we completed a private exchange of $355,611,000 aggregate principal amount of 2023 Exchangeable Bonds owned by Mr. Mohn, including 2023 Exchangeable Bonds owned by Perestroika AS, for $213,367,000 original principal amount of Transocean Inc.’s 2.50% Senior Guaranteed Exchangeable Bonds due 2027 (the “2027 Exchangeable Bonds”). In connection with the completion of this private exchange, we also entered into an amendment to the existing registration rights agreement with Perestroika AS to reflect, among other things, that certain of the Company’s shares issuable upon the exchange of the 2027 Exchangeable Bonds would be subject to registration rights. Transocean 2025 P-76 Proxy Statement

BOARD MEETINGS AND COMMITTEES During 2024, the Board of Directors held four meetings. The Board of Directors, and the committees of the Board of Directors, met at least once a quarter, and such quarterly meetings generally occurred over a period of two days. Each of our directors attended 100% of the Board of Directors’ meetings and meetings of committees on which he or she served during 2024. The Board of Directors has the following standing committees: Audit, Compensation, Finance, and Governance, Safety & Environment. During 2024, the Board of Directors combined the former Health, Safety, Environment &