Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 6

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 6
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 ØvrumFormer Executive Vice President for Equinor ASA, Development and Production Brazil         |  66 |           2021 | ✓           | ​                  | ​            | ​       |                                     |     |                                   3 |
|                        |     | Jeremy D. ThigpenCEO, Transocean Ltd.                                                                     |  50 |           2015 | ​           | ​                  | ​            | ​       | ​                                   |     |                                   1 |

Transocean 2025 P-8 Proxy Statement

| ​ | ​                       |
| ​ | PROXY STATEMENT SUMMARY |

| ​ | MEETINGS IN 2024:  BOARD:  4 
 BOARD AND COMMITTEES:   28   |     | 9 | 4 | 5 | 6 |

| ​               | ​ |     | ​                | ​ |     | ​                                               | ​ | ​ |   | ​                                                                                                        |
| Committee Chair | ​ |     | Committee Member | ​ |     | Audit Committee financial expert (SEC and NYSE) | ​ | ​ | ✓ | Independent, as determined by the Board of Directors in accordance with applicable rules and regulations |

(1)During 2024, the Board of Directors combined the former Health, Safety, Environment & Sustainability Committee (the "HSES Committee") and the former Corporate Governance Committee into the Governance, Safety & Environment Committee. The number of committee meetings held includes two meetings held by each of the former HSES Committee and former Corporate Governance Committee. (2)Mr. Lacey’s committee assignments will be made by the Board of Directors after his election. GOVERNANCE HIGHLIGHTS Our Board of Directors believes that strong corporate governance practices promote long-term shareholder interests and strengthen Board and management accountability. The Board continues to monitor evolving governance standards and enhance our governance practices to serve Transocean shareholders. Key features of the Company’s corporate governance program include: ■Highly independent Board of Directors ■Independent Committees ■Annual director elections ■One share, one vote – no dual-class stock ■Shareholder right to call special meetings ■Shareholder proxy access ■Annual performance evaluations of the Board of Directors, Board Committees and individual directors ■Retirement age and term limits ■No poison pill ■No hedging or pledging Company stock by directors or executives ■No blank check preferred stock ACTIVE SHAREHOLDER ENGAGEMENT PROGRAM As part of our ongoing shareholder engagement program, our Board of Directors and management team are committed to meeting with our shareholders and incorporating their feedback into