C. Chang Vanessa - May 30, 2025 Form 4 Insider Report for Transocean Ltd. (RIG)

Role: Director
Signature: /s/ Daniel Ro-Trock by Power of Attorney
Stock symbol: RIG
Transactions as of: May 30, 2025
Transactions value $: $0
Form type: 4
Date filed: 6/2/2025, 05:03 PM
Previous filing: May 2, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
CHANG VANESSA C L	Director	TURMSTRASSE 30, STEINHAUSEN, SWITZERLAND	/s/ Daniel Ro-Trock by Power of Attorney	2025-06-02	0001226487

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	RIG	Restricted Units	Award	$0	+82.4K		$0.00	82.4K	May 30, 2025	Registered Shares	82.4K	$0.00	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted Units, which are 1-for-1 registered share equivalents, were acquired on May 30, 2025, pursuant to the Issuer's long-term incentive plan. Restricted Units vest on the earlier of: (i) May 30, 2026, or (ii) the date of the next Annual General Meeting of the Company's shareholders following the May 30, 2025 grant date. Pursuant to the award agreement, such Restricted Units will be payable in registered shares of the Issuer following the vesting date, as defined above.

Content

Restricted Units, which are 1-for-1 registered share equivalents, were acquired on May 30, 2025, pursuant to the Issuer's long-term incentive plan. Restricted Units vest on the earlier of: (i) May 30, 2026, or (ii) the date of the next Annual General Meeting of the Company's shareholders following the May 30, 2025 grant date. Pursuant to the award agreement, such Restricted Units will be payable in registered shares of the Issuer following the vesting date, as defined above.