X0306 4 2020-05-08 0 0001451505 Transocean Ltd. RIG 0001226487 CHANG VANESSA C L TURMSTRASSE 30 STEINHAUSEN V8 6312 SWITZERLAND 1 0 0 0 Restricted Units 0 2020-05-08 4 A 0 98182 0 A Registered Shares 98182 98182 D Restricted Units, which are 1-for-1 registered share equivalents, were acquired on May 8, 2020, pursuant to the Issuer's long-term incentive plan. Restricted Units vest on the earlier of: (i) May 8, 2021, or (ii) the date of the next Annual General Meeting of the Company's shareholders following the May 8, 2020 grant date. Pursuant to the award agreement, such Restricted Units will be payable in registered shares of the Issuer following the vesting date, as defined above. /s/ Daniel Ro-Trock By Power of Attorney 2020-05-12