Company: RIG
Filing Date: 2025-03-21
Form Type: PRE 14A
Source: 0001451505-25-000024
Chunk: 17

Company: Transocean Ltd.
Filing Date: 2025-03-21
Form: PRE 14A
Chunk 17
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 for Fiscal Year 2024, and the Audited Statutory Financial Statements of Transocean Ltd. for Fiscal Year 2024 |

PROPOSAL OF THE BOARD OF DIRECTORS

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| The Board of Directors proposes that the 2024 Annual Report, including the audited consolidated financial statements of Transocean Ltd. for fiscal year 2024 and the audited statutory financial statements of Transocean Ltd. for fiscal year 2024, be approved. |

EXPLANATION The audited consolidated financial statements of Transocean Ltd. for fiscal year 2024 and the audited Swiss statutory financial statements of Transocean Ltd. for fiscal year 2024 are contained in the 2024 Annual Report, which, along with this proxy statement, are available at: www.deepwater.comby selecting Financial Reports, then Annual and Quarterly Reports in the Investors section dropdown. The 2024 Annual Report also contains information on the Company’s business activities, the Company’s business and financial situation, and the reports of Ernst & Young Ltd, Zurich, the Company’s auditors pursuant to the Swiss Code, on the Company’s consolidated financial statements for fiscal year 2024 and statutory financial statements for fiscal year 2024. In its reports, Ernst & Young Ltd recommended without qualification that the Company’s consolidated financial statements and statutory financial statements for the year ended December 31, 2024, be approved. Ernst & Young Ltd expresses its opinion that the consolidated financial statements present fairly, in all material respects, the consolidated financial position of Transocean Ltd. and its subsidiaries as of December 31, 2024 and 2023, and the consolidated results of operations and cash flows for each of the three years in the period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States (“GAAP”) and comply with Swiss law. Ernst & Young Ltd further expresses its opinion and confirms that the statutory financial statements for fiscal year 2024 comply with Swiss law and the Articles of Association of the Company. Under Swiss law, the annual report, the consolidated financial statements and Swiss statutory financial statements must be submitted to shareholders for approval at each annual general meeting. If the shareholders do not approve this proposal, the Board of Directors may call an extraordinary general meeting of shareholders for reconsideration of this proposal by shareholders.

Transocean 2025 P-24 Proxy Statement

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