Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 49

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 49
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| 12B | Ratification of the Maximum Aggregate Amount of Compensation of the Executive Management Team for Fiscal Year 2026 |

PROPOSAL OF THE BOARD OF DIRECTORS

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| The Board of Directors proposes that the shareholders ratify an amount of $26,000,000 as the maximum aggregate amount of compensation of the Executive Management Team for fiscal year 2026. |

EXPLANATION As required by our Articles of Association and the Swiss Code, our shareholders are provided the opportunity to vote on the maximum aggregate amount of compensation that can be paid or granted to the members of the Executive Management Team for fiscal year 2026. The shareholder vote is binding. EXECUTIVE MANAGEMENT TEAM COMPOSITION Our Executive Management Team for fiscal year 2026 is expected to be comprised of our Executive Chair, our Chief Executive Officer, and our Chief Financial Officer. Each of our Executive Management Team members serves an integral role as an executive officer in making significant operational decisions to implement the Company’s strategic objectives. EXECUTIVE MANAGEMENT TEAM COMPENSATION PRINCIPLES The general principles of the compensation for the Executive Management Team are described in article 29b of our Articles of Association. We use a combination of cash and equity compensation to attract, motivate and retain leaders from the global executive talent market within and outside our highly competitive industry and to achieve our objective of pay and performance alignment by delivering the vast majority of our Executive Management Team’s compensation opportunity as performance-based, ‘at-risk’ compensation. Our Executive Management Team’s compensation consists of: ■base salary, ■annual performance bonus, ■long-term incentives, which may be comprised of grants of restricted share units, performance share units, performance cash and stock options, and ■other compensation, including Company contributions to savings plans, pension plans, and life insurance premiums. For a detailed description of our compensation principles currently in effect for the Executive Management Team (and our other Named Executive Officers who are not members of the Executive Management Team), please refer to the section of this proxy statement under the caption: “Compensation Discussion and Analysis.” We recommend that our shareholders read our Articles of Association and the Compensation Discussion and Analysis to understand our Executive Management Team compensation principles and process when considering this proposal. The actual amounts paid to each member of the Executive Management Team for fiscal years 2022-2024 are disclosed in this proxy statement under the caption: “Executive Compensation—Summary Compensation Table,” and for fiscal years 2023 and 2024 in