Transocean Ltd. Announces Results of Tender Offers - Seite 2

The Company intends to accept all of the Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on April 17, 2024 (the “Expiration Date”), subject to the conditions to the Offers having been either satisfied or waived by the Company. In respect of all Notes validly tendered and not validly withdrawn on or prior to the Expiration Date, the Company will make payment in same-day funds on April 18, 2024, the first business day after the Expiration Date (the “Settlement Date”). In respect of all Notes for which a properly completed and duly executed Notice of Guaranteed Delivery is delivered pursuant to the guaranteed delivery procedures on or prior to the Expiration Date, and accepted for purchase, the Company will make payment in same-day funds promptly on the first business day after April 19, 2024, the Guaranteed Delivery Expiration Date, which is anticipated to be April 22, 2024. Subject to the terms and conditions of each Offer, including the completion of one or more debt financing transactions on terms satisfactory to the Company, in its sole discretion, and subject to applicable law (the “Financing Condition”), the consideration for each series per $1,000 principal amount of Notes validly tendered at or prior to the applicable Expiration Date and accepted for purchase pursuant to such Offers will be the total consideration for such series set forth in the table above (with respect to each series of Notes, the “Total Consideration”) at the applicable time and on the applicable date.

In addition to the Total Consideration, all Holders of Notes accepted for purchase will also receive accrued and unpaid interest on such Notes from the last interest payment date with respect to the Notes to, but not including, the Settlement Date (with respect to each series of Notes, the “Accrued Interest”).

The withdrawal deadline for the Offers was 5:00 p.m., New York City time, on April 17, 2024 and has not been extended. Accordingly, previously tendered Notes and Notes tendered after such withdrawal deadline may not be withdrawn, subject to applicable law.

This press release does not constitute a notice of redemption under the optional redemption provisions of the applicable indenture governing the Notes, nor does it constitute an offer to sell, or a solicitation of an offer to buy, any security, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.