Transocean Ltd.

Transocean Ltd. is a leading international provider of offshore contract drilling services for oil and gas wells. As of February 17, 2026, the company owned or had partial ownership interests in and operated 27 mobile offshore drilling units, comprising 20 ultra-deepwater drillships and seven harsh environment semisubmersibles. Transocean's primary business is providing contract drilling services in a single operating segment. This involves contracting its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. The company specializes in technically demanding regions of the global offshore drilling business, with a particular focus on ultra-deepwater and harsh environment drilling services. Its drilling fleet, consisting of drillships and semisubmersible floaters, supports offshore drilling activities and offshore support services worldwide. Transocean Ltd. is a Swiss corporation with its registered office in Steinhausen, Canton of Zug, Switzerland. Its shares are listed on the New York Stock Exchange under the ticker symbol "RIG." On February 9, 2026, Transocean and Valaris entered into a Business Combination Agreement, under which Transocean will acquire all issued and outstanding common shares of Valaris in exchange for Transocean Ltd. shares at an exchange ratio of 15.235 Transocean Ltd. shares for each Valaris Share.