Transocean Ltd

In accordance with Transocean’s previously announced succession planning strategy, Mr. Thad Vayda has been appointed Chief Financial Officer of Transocean effective as of May 1, 2024. Mr. Vayda will assume the responsibilities of Principal Financial Officer from Mr. Mark Mey as of such date. The appointment of Mr. Vayda is not pursuant to any agreement between him and any other person. There is no family relationship between Mr. Vayda and any director or executive officer of Transocean, and there are no transactions between Mr. Vayda and Transocean that are required to be reported under Item 404(a) of Regulation S-K. At this time, there are no changes to Mr. Vayda’s compensation arrangements with Transocean.

On April 26, 2024, each of Mr. Howard Davis, Transocean’s Executive Vice President, Chief Administrative Officer and Chief Information Officer, and Mr. David Tonnel, Transocean’s Senior Vice President and Chief Accounting Officer, elected to retire pursuant to Transocean’s 2024 voluntary early retirement plan (the “plan”). The plan was open to all eligible employees aged 55 or above who also met certain service requirements. Each of Messrs. Davis and Tonnel are expected to continue serving in their respective positions until July 31, 2024, or such other date to facilitate an orderly transition of their respective duties and responsibilities. No other executives participated in the plan.

During the three months ended March 31, 2024, nodirector orofficer of Transocean adopted orterminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

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