Company: RIG
Filing Date: 2025-04-01
Form Type: DEF 14A
Source: 0001451505-25-000029
Chunk: 70

Company: Transocean Ltd.
Filing Date: 2025-04-01
Form: DEF 14A
Chunk 70
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, with the exception of Messrs. Thigpen (the Company’s current Chief Executive Officer) and Adamson (the Company’s current President and Chief Operating Officer), are independent and meet the applicable independence standards set by the NYSE, the SEC and our guidelines. Additionally, our Compensation, Audit and Governance, Safety & Environment Committees are composed solely of directors who meet the applicable NYSE and SEC independence standards for membership on these committees, including the enhanced independence standards required for Compensation and Audit Committee, as applicable. Transocean 2025 P-73 Proxy Statement

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In making its independence determinations, the Board of Directors considered the fact that certain current and former directors, as described below, are or within the past three years have been directors or officers of, or have had relationships with, companies with which we conduct business in the ordinary course. The Board of Directors also considered the transactions with these companies and believes they were on arm’s-length terms that were reasonable and competitive. ■Since 2016, Mr. Curado has been a non-executive director of ABB Ltd, from which the Company has purchased rig-related services and equipment. ■ Mr. Curado’s son began working in the corporate audit department of General Electric Company (“GE”) in 2017. GE sold its interest in Baker Hughes in 2019, and his son worked as a finance manager for Baker Hughes until April 2024. Baker Hughes has provided services or products to the Company. ■Mr. Dell’Osso’s cousin works as an executive director for Lazard, which has provided professional services to the Company. ■As of March 6, 2025, Mr. Mohn was the beneficial owner of approximately 91.4 million Company shares, corresponding to approximately 10.35% of the Company’s outstanding shares. The Board of Directors evaluated Mr. Mohn’s overall beneficial ownership of shares and concluded that his ownership of shares would not affect his independence or service as a director of the Company, and that he meets the standards for independence adopted by the SEC and the NYSE. ■In November 2022, Mr. Mohn beneficially acquired a noncontrolling 13.33% interest in Liquila Ventures Ltd. (“Liquila”), a joint venture company owned by a subsidiary of the Company, Lime Rock Partners and Perestroika AS, formed to acquire the ultra-deepwater drillship, Deepwater Aquila, in exchange for $10