Transocean (RIG) investor relations material

Executive summary

• Brazilian competition authorities issued an unrestricted decision on October 13, 2026; it is expected to be published October 15 or 16, starting a 15-day waiting period before becoming final.

• Once the decision is final, all regulatory approval conditions will be satisfied; closing is anticipated in Q4 2026, subject to remaining conditions.

Voting matters and shareholder proposals

• A joint definitive proxy statement was filed October 14, 2026 and disseminated to shareholders of both parties to seek approval of their respective transaction-related proposals.

Risk oversight and compliance

• Key transaction risks include failure to close on anticipated terms or timing, litigation, business disruption, loss of customers or key personnel, integration costs, and failure to achieve expected synergies or deleveraging.

• Other identified exposures include oil and gas price volatility, offshore rig demand and operating hazards, weather events, inflation, tariffs, rising interest rates, geopolitical conflicts, cybersecurity threats, and regulatory complexity.

• Forward-looking statements are subject to uncertainty; actual outcomes may differ materially, and no assurance is given that the transaction will close or deliver anticipated benefits.