Transocean Ltd. (RIG)

[Mother Lode]

STEINHAUSEN, Switzerland—July 24, 2024—Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet
Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.

This quarter’s report includes the following updates:

• Deepwater Atlas – Awarded a four-well contract in the U.S. Gulf of Mexico at a dayrate of $505,000,
with contingencies to perform three completions at the same dayrate.

• Deepwater Atlas – Awarded a two-well contract for drilling operations in the U.S. Gulf of Mexico
at a dayrate of $580,000 with contingencies to perform two 20K completions at a dayrate of
$650,000.

• Deepwater Asgard – Awarded a 365-day contract extension in the U.S. Gulf of Mexico at a dayrate
of $515,000.

• Deepwater Invictus – Awarded a 40-day contract extension in the U.S. Gulf of Mexico.
• Transocean Norge – Awarded a three-well contract extension in Norway at a current dayrate of
$517,000.

• Transocean Spitsbergen – Awarded a three-well contract extension in Norway at a current dayrate
of $483,000.

• Transocean Endurance – Customer exercised a one-well option in Australia at a dayrate of
$390,000.

• Deepwater Mykonos – Customer exercised a 279-day option in Brazil at a current dayrate of
$366,000.

The aggregate incremental backlog associated with these fixtures is approximately $656 million. As of July
24, 2024, the company’s total backlog is approximately $8.8 billion.

The report can be accessed on the company’s website: www.deepwater.com.