Perestroika

SEC source: 0001729635-25-000007 · form4-11252025_101104.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By Perestroika (Cyprus) Ltd.

Disclosed balance after: 96,574,894

F1 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001729635-25-000005 · form4-10012025_011046.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Perestroika (Cyprus) Ltd.

Disclosed balance after: 95,074,894

F1 · kind: The transaction reported herein was made in connection with a registered public offering of securities at the reported public offering price offered by the Issuer, as described in the Issuer's prospectus supplement filed with the U.S. Securities and Exchange Commission on September 26, 2025.

F1 · shares: The transaction reported herein was made in connection with a registered public offering of securities at the reported public offering price offered by the Issuer, as described in the Issuer's prospectus supplement filed with the U.S. Securities and Exchange Commission on September 26, 2025.

F2 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-24-023388 · form4-09132024_090948.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Perestroika (Cyprus) Ltd.

Disclosed balance after: 91,074,894

F1 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-24-020698 · form4-08052024_100811.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 89,574,894

F1 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-24-013589 · form4-05172024_090536.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 87,574,894

F1 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-24-005890 · form4-02292024_090242.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 85,574,894

F1 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-23-013425 · form4-09192023_090933.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Perestroika (Cyprus) Ltd.

Disclosed balance after: 84,574,894

F1 · shares: In connection with the acquisition of all of the issued and outstanding equity interest in Liquila Ventures Ltd. ("Liquila"), Transocean Ltd. (the "Company") paid 1,978,396 shares of the Company valued at $15,870,000 for the equity interests of Liquila owned by Perestroika (Cyprus) Ltd.

F1 · price: In connection with the acquisition of all of the issued and outstanding equity interest in Liquila Ventures Ltd. ("Liquila"), Transocean Ltd. (the "Company") paid 1,978,396 shares of the Company valued at $15,870,000 for the equity interests of Liquila owned by Perestroika (Cyprus) Ltd.

F2 · ownership.direct: These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

F2 · ownership.nature: These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-23-006857 · form4-04252023_110414.xml · derivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Perestroika (Cyprus) Ltd.

Disclosed balance after: 0

Underlying: Registered Shares · 34,600,147 shares

Expires 2027-01-30

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F2 · derivative.exercise_price: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F2 · reported_value: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F3 · reported_value: On April 21, 2023, Perestroika (Cyprus) Ltd. exchanged its 2.5% Exchangeable Bonds pursuant to the terms of the Indenture referred to in footnote 1.

F2 · price: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F2 · derivative.exercise_date: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F2 · derivative.expiration_date: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F2 · derivative.underlying_shares: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F3 · derivative.underlying_shares: On April 21, 2023, Perestroika (Cyprus) Ltd. exchanged its 2.5% Exchangeable Bonds pursuant to the terms of the Indenture referred to in footnote 1.

F2 · balance_after: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F3 · balance_after: On April 21, 2023, Perestroika (Cyprus) Ltd. exchanged its 2.5% Exchangeable Bonds pursuant to the terms of the Indenture referred to in footnote 1.

F2 · ownership.nature: The 2.5% Senior Guaranteed Exchangeable Bonds due January 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of Transocean Ltd. (the "Company"), pursuant to an Indenture dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors, and Computershare Trust Company, N.A., as successor trustee to Wells Fargo Bank, National Association, and are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds.

F3 · ownership.nature: On April 21, 2023, Perestroika (Cyprus) Ltd. exchanged its 2.5% Exchangeable Bonds pursuant to the terms of the Indenture referred to in footnote 1.

SEC source: 0001415889-23-006857 · form4-04252023_110414.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Perestroika (Cyprus) Ltd.

Disclosed balance after: 82,596,498

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · shares: These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

F1 · balance_after: These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

F1 · ownership.direct: These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

F1 · ownership.nature: These shares are owned directly by Perestroika (Cyprus) Ltd., which is a wholly owned subsidiary of Perestroika AS. Mr. Frederik Mohn is the sole director and owner of Perestroika AS and is the indirect beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-22-005147 · form4-05172022_020522.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 82,636,646

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.55 to $3.85, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (1) to this Form 4.

F2 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001415889-23-006853 · form4a-04252023_110408.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,900,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.55 to $3.85, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote (1) to this Form 4.

F2 · balance_after: Due to an administrative error, the original Form 4, filed on May 17, 2022, referenced an incorrect number of securities beneficially owned following the reported transaction. This amendment to Form 4 is being made solely to reflect the correct number of securities beneficially owned following the transaction.

SEC source: 0001179110-21-007071 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 80,640,354

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.44 to $4.72, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

F2 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-007052 · edgar.xml · nonDerivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 79,640,354

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.36 to $4.65, inclusive.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-007052 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 78,640,354

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.25 to $4.51, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-006985 · edgar.xml · nonDerivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 77,640,354

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.14 to $4.25, inclusive.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-006985 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 76,640,354

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.93 to $4.22, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-006918 · edgar.xml · nonDerivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 75,640,354

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.83 to $4.06, inclusive.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-006918 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 74,640,354

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $3.80 to $4.21, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-006837 · edgar.xml · nonDerivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 72,740,354

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.09 to $4.29, inclusive.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-21-006837 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 70,740,354

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $4.02 to $4.255, inclusive. The reporting person undertakes to provide Transocean Ltd. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) to this Form 4.

F3 · ownership.direct: These securities are held directly by Perestroika AS. Mr. Frederik Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS.

SEC source: 0001179110-20-009133 · edgar.xml · derivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: Not disclosed

Underlying: Shares · Not disclosed shares

Expires 2027-01-30

F2 · derivative.exercise_price: On August 14, 2020, Perestroika (Cyprus) Ltd. exchanged its 0.5% Exchangeable Bonds for 2.5% Exchangeable Bonds (as defined below) in a private exchange.

F4 · derivative.exercise_price: The 2.5% Senior Guaranteed Exchangeable Bonds due 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company and certain subsidiary guarantors on August 14, 2020. The 2.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors and Wells Fargo Bank, National Association. The 2.5% Exchangeable Bonds are exchangeable at any time prior to the close of business on the second business day immediately preceding the maturity date of January 30, 2027.

F4 · reported_value: The 2.5% Senior Guaranteed Exchangeable Bonds due 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company and certain subsidiary guarantors on August 14, 2020. The 2.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors and Wells Fargo Bank, National Association. The 2.5% Exchangeable Bonds are exchangeable at any time prior to the close of business on the second business day immediately preceding the maturity date of January 30, 2027.

F4 · price: The 2.5% Senior Guaranteed Exchangeable Bonds due 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company and certain subsidiary guarantors on August 14, 2020. The 2.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors and Wells Fargo Bank, National Association. The 2.5% Exchangeable Bonds are exchangeable at any time prior to the close of business on the second business day immediately preceding the maturity date of January 30, 2027.

F4 · derivative.underlying_shares: The 2.5% Senior Guaranteed Exchangeable Bonds due 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company and certain subsidiary guarantors on August 14, 2020. The 2.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors and Wells Fargo Bank, National Association. The 2.5% Exchangeable Bonds are exchangeable at any time prior to the close of business on the second business day immediately preceding the maturity date of January 30, 2027.

F2 · valueOwnedAfter: On August 14, 2020, Perestroika (Cyprus) Ltd. exchanged its 0.5% Exchangeable Bonds for 2.5% Exchangeable Bonds (as defined below) in a private exchange.

F4 · valueOwnedAfter: The 2.5% Senior Guaranteed Exchangeable Bonds due 2027 (the "2.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company and certain subsidiary guarantors on August 14, 2020. The 2.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 162.1626 Shares per $1,000 principal amount of 2.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated August 14, 2020, among Transocean Inc., the Company and certain subsidiary guarantors and Wells Fargo Bank, National Association. The 2.5% Exchangeable Bonds are exchangeable at any time prior to the close of business on the second business day immediately preceding the maturity date of January 30, 2027.

F3 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., a wholly owned subsidiary of Perestroika AS. Mr. Frederik W. Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS and Perestroika (Cyprus) Ltd.

SEC source: 0001179110-20-009133 · edgar.xml · derivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: Not disclosed

Underlying: Shares · Not disclosed shares

Expires 2023-01-30

F1 · derivative.exercise_price: The 0.5% Exchangeable Senior Bonds due 2023 (the "0.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company on January 30, 2018. The 0.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 97.29756 Shares per $1,000 principal amount of 0.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The 0.5% Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · reported_value: The 0.5% Exchangeable Senior Bonds due 2023 (the "0.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company on January 30, 2018. The 0.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 97.29756 Shares per $1,000 principal amount of 0.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The 0.5% Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F2 · reported_value: On August 14, 2020, Perestroika (Cyprus) Ltd. exchanged its 0.5% Exchangeable Bonds for 2.5% Exchangeable Bonds (as defined below) in a private exchange.

F1 · price: The 0.5% Exchangeable Senior Bonds due 2023 (the "0.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company on January 30, 2018. The 0.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 97.29756 Shares per $1,000 principal amount of 0.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The 0.5% Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · derivative.underlying_shares: The 0.5% Exchangeable Senior Bonds due 2023 (the "0.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company on January 30, 2018. The 0.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 97.29756 Shares per $1,000 principal amount of 0.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The 0.5% Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · valueOwnedAfter: The 0.5% Exchangeable Senior Bonds due 2023 (the "0.5% Exchangeable Bonds") were issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company on January 30, 2018. The 0.5% Exchangeable Bonds are exchangeable into shares of the Company at an initial exchange rate of 97.29756 Shares per $1,000 principal amount of 0.5% Exchangeable Bonds, which initial exchange rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The 0.5% Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F2 · valueOwnedAfter: On August 14, 2020, Perestroika (Cyprus) Ltd. exchanged its 0.5% Exchangeable Bonds for 2.5% Exchangeable Bonds (as defined below) in a private exchange.

F3 · ownership.nature: These securities are held directly by Perestroika (Cyprus) Ltd., a wholly owned subsidiary of Perestroika AS. Mr. Frederik W. Mohn is a sole director and owner of Perestroika AS and is the beneficial owner of all securities owned by Perestroika AS and Perestroika (Cyprus) Ltd.

SEC source: 0001179110-18-003454 · edgar.xml · nonDerivative · entry 2

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,096,351

SEC source: 0001179110-18-003454 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 32,096,351

SEC source: 0001179110-18-001357 · edgar.xml · derivative · entry 2

Perestroika · CIK 0001729635 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: Not disclosed

Underlying: Shares · Not disclosed shares

Expires 2023-01-30

F1 · derivative.exercise_price: In connection with the acquisition by Transocean Ltd. (the "Company") of Songa Offshore SE ("Songa Offshore"), as consideration for tendering its shares of Songa Offshore and in exchange for the transfer to the Company of the $50,000,000 shareholder loan owed by Songa Offshore to Perestroika AS ("Perestroika") and certain Songa Offshore bonds, Perestroika received 31,096,351 Shares of Transocean Ltd. ("Shares") and $355,611,000 aggregate principal amount of 0.5% Exchangeable Senior Bonds due 2023 issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company (the "Exchangeable Bonds").

F2 · derivative.exercise_price: Perestroika's Exchangeable Bonds are exchangeable into Shares at an initial rate of 97.29756 Shares per $1,000 principal amount of Exchangeable Bonds, which initial rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · reported_value: In connection with the acquisition by Transocean Ltd. (the "Company") of Songa Offshore SE ("Songa Offshore"), as consideration for tendering its shares of Songa Offshore and in exchange for the transfer to the Company of the $50,000,000 shareholder loan owed by Songa Offshore to Perestroika AS ("Perestroika") and certain Songa Offshore bonds, Perestroika received 31,096,351 Shares of Transocean Ltd. ("Shares") and $355,611,000 aggregate principal amount of 0.5% Exchangeable Senior Bonds due 2023 issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company (the "Exchangeable Bonds").

F2 · reported_value: Perestroika's Exchangeable Bonds are exchangeable into Shares at an initial rate of 97.29756 Shares per $1,000 principal amount of Exchangeable Bonds, which initial rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · price: In connection with the acquisition by Transocean Ltd. (the "Company") of Songa Offshore SE ("Songa Offshore"), as consideration for tendering its shares of Songa Offshore and in exchange for the transfer to the Company of the $50,000,000 shareholder loan owed by Songa Offshore to Perestroika AS ("Perestroika") and certain Songa Offshore bonds, Perestroika received 31,096,351 Shares of Transocean Ltd. ("Shares") and $355,611,000 aggregate principal amount of 0.5% Exchangeable Senior Bonds due 2023 issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company (the "Exchangeable Bonds").

F2 · price: Perestroika's Exchangeable Bonds are exchangeable into Shares at an initial rate of 97.29756 Shares per $1,000 principal amount of Exchangeable Bonds, which initial rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · derivative.underlying_shares: In connection with the acquisition by Transocean Ltd. (the "Company") of Songa Offshore SE ("Songa Offshore"), as consideration for tendering its shares of Songa Offshore and in exchange for the transfer to the Company of the $50,000,000 shareholder loan owed by Songa Offshore to Perestroika AS ("Perestroika") and certain Songa Offshore bonds, Perestroika received 31,096,351 Shares of Transocean Ltd. ("Shares") and $355,611,000 aggregate principal amount of 0.5% Exchangeable Senior Bonds due 2023 issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company (the "Exchangeable Bonds").

F2 · derivative.underlying_shares: Perestroika's Exchangeable Bonds are exchangeable into Shares at an initial rate of 97.29756 Shares per $1,000 principal amount of Exchangeable Bonds, which initial rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

F1 · valueOwnedAfter: In connection with the acquisition by Transocean Ltd. (the "Company") of Songa Offshore SE ("Songa Offshore"), as consideration for tendering its shares of Songa Offshore and in exchange for the transfer to the Company of the $50,000,000 shareholder loan owed by Songa Offshore to Perestroika AS ("Perestroika") and certain Songa Offshore bonds, Perestroika received 31,096,351 Shares of Transocean Ltd. ("Shares") and $355,611,000 aggregate principal amount of 0.5% Exchangeable Senior Bonds due 2023 issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company (the "Exchangeable Bonds").

F2 · valueOwnedAfter: Perestroika's Exchangeable Bonds are exchangeable into Shares at an initial rate of 97.29756 Shares per $1,000 principal amount of Exchangeable Bonds, which initial rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.

SEC source: 0001179110-18-001357 · edgar.xml · nonDerivative · entry 1

Perestroika · CIK 0001729635 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,096,351

F1 · price: In connection with the acquisition by Transocean Ltd. (the "Company") of Songa Offshore SE ("Songa Offshore"), as consideration for tendering its shares of Songa Offshore and in exchange for the transfer to the Company of the $50,000,000 shareholder loan owed by Songa Offshore to Perestroika AS ("Perestroika") and certain Songa Offshore bonds, Perestroika received 31,096,351 Shares of Transocean Ltd. ("Shares") and $355,611,000 aggregate principal amount of 0.5% Exchangeable Senior Bonds due 2023 issued by Transocean Inc., a wholly owned subsidiary of the Company, and fully and unconditionally guaranteed by the Company (the "Exchangeable Bonds").

F2 · price: Perestroika's Exchangeable Bonds are exchangeable into Shares at an initial rate of 97.29756 Shares per $1,000 principal amount of Exchangeable Bonds, which initial rate is subject to adjustment in accordance with the Indenture, dated January 30, 2018, among Transocean Inc., the Company, Computershare Trust Company, N.A. and Computershare Trust Company of Canada. The Exchangeable Bonds are exchangeable at any time prior to and up to the maturity date of January 30, 2023.