Transocean (RIG) Proxy filing summary

Executive summary

• Announced a business combination agreement for the acquisition of all issued and outstanding shares of Valaris in exchange for 15.235 shares per Valaris share, with closing anticipated in Q4 2026.

• The U.S. Department of Justice closed its antitrust investigation, and the HSR Act waiting period has expired.

• Forward-looking statements caution about uncertainties and risks that could affect the transaction's completion and anticipated benefits.

Voting matters and shareholder proposals

• Shareholders of both companies will be asked to approve transaction-related proposals via a joint proxy statement.

• The joint definitive proxy statement will be mailed or disseminated to shareholders when available.

Board of directors and corporate governance

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

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