TRANSOCEAN INC.

Offers to Purchase for Cash for Certain Outstanding Debt Securities
Any and All of the Outstanding Notes Listed Below (collectively, the “Notes”)

Title of Security	CUSIP Number1	Principal Amount Outstanding	U.S. Treasury Reference Security
11.500% Senior Guaranteed Notes due 2027 (“11.500% Notes”)	144A: 893830BQ1 Reg S: G90073AG5	$687,343,000	1.750% UST due 07/31/2024
7.250% Senior Notes due 2025 (“7.250% Notes”)	144A: 893830BK4 Reg S: G90073AD2	$354,244,000	N/A

THE OFFERS (AS DEFINED HEREIN) FOR THE NOTES WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON APRIL 17, 2024 UNLESS EXTENDED (SUCH DATE AND TIME, AS MAY BE EXTENDED, THE “EXPIRATION DATE”), OR UNLESS EARLIER TERMINATED. TO BE ELIGIBLE TO RECEIVE THE APPLICABLE TOTAL CONSIDERATION (AS DEFINED HEREIN) PAYABLE FOR THE NOTES, YOU MUST (I) VALIDLY TENDER YOUR NOTES ON OR PRIOR TO THE EXPIRATION DATE OR (II) DELIVER A PROPERLY COMPLETED AND DULY EXECUTED NOTICE OF GUARANTEED DELIVERY ATTACHED AS SCHEDULE B HERETO (AS MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, THE “NOTICE OF GUARANTEED DELIVERY”) PURSUANT TO THE GUARANTEED DELIVERY PROCEDURES DESCRIBED HEREIN (THE “GUARANTEED DELIVERY PROCEDURES”) ON OR PRIOR TO THE EXPIRATION DATE. TENDERED NOTES MAY BE WITHDRAWN ON OR PRIOR TO, BUT NOT AFTER, 5:00 P.M., NEW YORK CITY TIME, ON APRIL 17, 2024 (SUCH DATE AND TIME, AS MAY BE EXTENDED WITH RESPECT TO A SERIES, THE “WITHDRAWAL DEADLINE”). THE OFFERS ARE SUBJECT TO THE SATISFACTION OR WAIVER OF THE CONDITIONS, INCLUDING THE FINANCING CONDITION (AS DEFINED BELOW) DESCRIBED UNDER THE HEADING “TERMS OF THE OFFERS—CONDITIONS TO THE OFFERS.”

To view copies of the Tender Offer document(s) please click on the link(s) below:

Offer to Purchase

Press Release

Questions, requests for assistance and requests for additional copies of this Offer to Purchase may be directed to the Information Agent or the Dealer Manager at their respective addresses and telephone numbers set forth below.