X0306 4 2017-02-10 0 0001451505 Transocean Ltd. RIG 0001228413 DAVIS HOWARD E 4 GREENWAY PLAZA HOUSTON TX 77046 0 1 0 0 EVP, CAO & CIO Stock Options 13.35 2017-02-10 4 A 0 74861 0 A 2027-02-10 Registered Shares 74861 74861 D Deferred Units 0 2017-02-10 4 A 0 38837 0 A Registered Shares 38837 38837 D On February 10, 2017, the reporting person was awarded 74,861 stock options which vest as follows: 24,953 on February 10, 2018; 24,954 on February 10, 2019; and 24,954 on February 10, 2020. The Deferred Units were acquired on February 10, 2017, by the reporting person pursuant to the Issuer's long-term incentive plan, and vest as follows: 12,945 on March 1, 2018; 12,946 on March 1, 2019; and 12,946 on March 1, 2020. /s/ Daniel Ro-Trock By Power of Attorney 2017-02-13