Transocean Ltd.

Net cash provided by operating activities was $236 million; net of capital expenditures of $24 million, free cash flow was $212 million.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Ended the period with total liquidity of more than $1.3 billion, including the undrawn revolving credit facility.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

We believe certain financial measures, such as Adjusted Net Income, EBITDA, Adjusted EBITDA, Free Cash Flow and Net Debt, which are non-GAAP measures, provide users of our financial statements with supplemental information that may be useful in evaluating our operating performance.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Throughout the term of the Secured Credit Facility, we pay a facility fee on the amount of the underlying commitment, which ranges from - 8 - Table of Contents TRANSOCEAN LTD.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS continued (Unaudited) 0.375 percent to 1.00 percent based on the credit rating of the Secured Credit Facility.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

We may borrow under the Secured Credit Facility at a forward-looking term rate based on the secured overnight financing rate ( Term SOFR ) plus a margin and a Term SOFR spread adjustment of 0.10 percent.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

The Company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

We specialize in technically demanding regions of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

As a result, governmental policy makers are reassessing their energy strategies and are prioritizing energy security, taking steps to improve the diversity and resiliency of their supply portfolios, including the exploitation of hydrocarbons from domestic sources.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

These shifts underscore the continued need for accessible, reliable, cost-effective, and transportable energy sources, with offshore oil and gas increasingly viewed as a key strategic asset.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

Forward-looking statements are based on management s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Should one or more of these risks or uncertainties materialize, or the other consequences of such a development worsen, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or expressed or implied by such forward-looking statements.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

All subsequent written and oral forward-looking statements attributable to the Company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties.

SEC original ↗Transocean Ltd. — Earnings release (8-K exhibit)EX-99Aug 5, 2026

Legal Proceedings 22 Item 1A.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS continued (Unaudited) Note 9 Contingencies Legal proceedings Asbestos litigation In 2014, several of our subsidiaries were named, along with numerous other unaffiliated defendants, in complaints filed in Louisiana.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026

We intend to defend these lawsuits vigorously, although we can provide no assurance as to the outcome.

SEC original ↗Transocean Ltd. — 10-Q Quarterly report10-QAug 7, 2026