Transocean (RIG) Proxy Filing summary

Executive summary

• Plans announced for the acquisition of Valaris, with completion anticipated in the second half of 2026, while both companies will operate independently until closing.

• Integration planning team to be established, with strict legal guidelines for engagement between the two companies.

• Emphasis on maintaining business as usual and focusing on safe, reliable, and efficient operations during the transition period.

• Regular communication on transaction progress promised, with staff encouraged to direct questions to supervisors or legal contacts.

Voting matters and shareholder proposals

• Shareholder approval will be sought for transaction-related proposals via a joint proxy statement to be filed with the SEC.

• The business combination will proceed under a scheme of arrangement pursuant to Bermuda law.

Board of directors and corporate governance

• Directors, executive officers, and certain employees of both companies may be considered participants in the solicitation of proxies.

• Information about directors and executive officers, including their interests, will be included in the joint proxy statement.