Transocean Ltd. — Director's Dealing 2026

Mar 3, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Transocean Ltd. (RIG)
CIK: 0001451505
Period of Report: 2026-03-01

Reporting Person: THIGPEN JEREMY D (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-03-01	Registered Shares	M	193518	$6.25	Acquired	2442643	Direct
2026-03-01	Registered Shares	M	245640	$6.25	Acquired	2688283	Direct
2026-03-01	Registered Shares	M	171821	$6.25	Acquired	2860104	Direct
2026-03-03	Registered Shares	F	245556	$6.12	Disposed	2614548	Direct

Footnotes

F1: Restricted Units, which are 1-for-1 share equivalents, acquired on February 9, 2023, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares.

F2: The amount of securities beneficially owned following the reported transaction reflects a prior transfer of shares to the reporting person's former spouse pursuant to a domestic relations order.

F3: Restricted Units, which are 1-for-1 share equivalents, acquired on February 8, 2024, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares.
The remaining restricted share units vest as follows: 245,640 on March 1, 2027.

F4: Restricted Units, which are 1-for-1 share equivalents, acquired on February 13, 2025, pursuant to the Issuer's long-term incentive plan. One third of such restricted units vested on March 1, 2026, resulting in the right of the reporting person to receive the registered shares.
The remaining restricted share units vest as follows: 171,821 on March 1, 2027 and 171,822 on March 1, 2028.

F5: Shares sold upon vesting to satisfy tax withholding obligations.