Transocean Ltd. — Director's Dealing 2010

Mar 3, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Transocean Ltd. (RIG)
CIK: 0001451505
Period of Report: 2010-03-01

Reporting Person: CASON THOMAS W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-01	Registered Shares	M	1270	$60.5057	Acquired	10039	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-01	Stock Options	$60.5057	M	1270	Disposed	2010-05-11	Registered Shares (1270)	Direct

Footnotes

F1: On December 19, 2008, Transocean Ltd., a Swiss corporation, became the successor of Transocean Inc., a Cayman Islands company, pursuant to a merger by way of schemes of arrangement under Cayman Islands law (the "Transaction") in which each holder of Transocean Inc. ordinary shares outstanding immediately prior to the Transaction received one registered share of Transocean Ltd. in exchange for each outstanding ordinary share of Transocean Inc. The Transaction had the effect of changing the place of incorporation of Transocean's group holding company from the Cayman Islands to Switzerland but did not alter the proportionate interests of security holders.

F2: The number of shares reported as beneficially owned following the reported transactions on the reporting person's Form 4 filed on November 29, 2007 included one share more than the number that should have been reported due to a rounding error. As of such date, the reporting person beneficially owned 8,697 ordinary shares, not 8,698 ordinary shares.

F3: The options are fully vested and exercisable.