Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 76

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 76
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audit committee financial experts.” In addition, the Board of Directors has determined that all of the current members of the Audit Committee qualify under NYSE rules as having accounting or related financial management expertise. Ms. Changwas previously partner in charge of Corporate Finance for KPMG Peat Marwick LLP. Mr. Barkeris a chartered accountant, served as an audit partner in an accounting firm and served as the Vice Chair-U.K. of PricewaterhouseCoopers LLP from 2008 to 2011.

Transocean 2025 P-78 Proxy Statement

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| ​ | BOARD MEETINGS AND COMMITTEES |

Mr. Merksameris an Executive Director at Mubadala Capital and a former partner at One Investment Management and a former Managing Director at Icahn Capital. Finally, NYSE rules restrict directors who have relationships with the Company that may interfere with the exercise of their independence from management and the Company from serving on the Audit Committee. We believe that the members of the Audit Committee have no such relationships and are therefore independent for purposes of NYSE rules. PRIMARY RESPONSIBILITIES The responsibilities of the Audit Committee include, among others, the following: ■Review at least annually, together with management, the Company’s ESG and cybersecurity disclosures and the adequacy and effectiveness of internal controls related to such disclosures; ■The appointment, retention, oversight, evaluation and termination of our independent registered public accounting firm and recommending our statutory auditor pursuant to the Swiss Code to the Board of Directors and to shareholders for approval at a general meeting of shareholders; ■Directly responsible for the compensation and oversight of our independent registered public accounting firm and our statutory auditor pursuant to the Swiss Code; ■Advise as necessary in the selection of the lead audit partner, including with respect to the lead audit partner rotation; ■Reviews our financial reporting processes, oversees the integrity of our financial statements, the reporting and assurance process for sustainability disclosures that require third party assurance and the independence, qualifications and performance of our auditors and their lead audit partner; ■Review and report to the Board of Directors the scope and results of audits by our independent registered public accounting firm, our statutory auditor pursuant to the Swiss Code and our internal auditing staff and evaluates the audit, audit-related and permitted non-audit services rendered by the accounting firm; ■Review any material information security or cybersecurity matters that may affect the Company; ■Review with the accounting firm the adequacy of our system of internal controls over financial reporting; ■Review transactions between us and our directors and