Grants of Plan-Based Awards for Fiscal Year <strong>2010</strong> The following table sets forth certain information concerning grants of plan-based awards for the year ended December 31, <strong>2010</strong> for the Named Executive Officers. Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1) Estimated Future Payouts Under Equity Incentive Plan Awards(2) All Other Option Awards: Number of Securities Underlying Exercise or Base Price of Option Grant Date Fair Value of Stock <strong>and</strong> Option Grant Threshold Target Maximum Threshold Target Maximum Options(3) Awards Awards(4) Name Date ($) ($) ($) (#) (#) (#) (#) ($/Sh) ($) Steven L. Newman 0 900,000 1,800,000 3/1/<strong>2010</strong> 63,675 80.26 1,872,682 3/1/<strong>2010</strong> 7,727 30,906 54,806 2,038,251 Ricardo H. Rosa 0 337,500 675,000 2/18/<strong>2010</strong> 17,688 83.32 557,703 2/18/<strong>2010</strong> 2,146 8,585 15,024 669,156 11/17/<strong>2010</strong> 12,549(5) 846,932 Eric B. Brown 0 304,200 608,400 2/18/<strong>2010</strong> 17,688 83.32 557,703 2/18/<strong>2010</strong> 2,146 8,585 15,024 669,156 2/18/<strong>2010</strong> 8,013(5) 667,643 Arnaud A.Y. Bobillier 0 294,000 588,000 2/18/<strong>2010</strong> 17,688 83.32 557,703 2/18/<strong>2010</strong> 2,146 8,585 15,024 669,156 11/17/<strong>2010</strong> 9,412(5) 635,216 Ihab M. Toma 0 285,000 570,000 2/18/<strong>2010</strong> 14,150 83.32 446,150 2/18/<strong>2010</strong> 1,717 6,868 12,019 527,325 11/17/<strong>2010</strong> 9,412(5) 635,216 Cheryl D. Richard 0 213,000 426,000 2/18/<strong>2010</strong> 14,150(7) 83.32 446,150 2/18/<strong>2010</strong> 1,717 6,868(6) 12,019 527,325 (1) This column shows the amount of cash payable to the Named Executive Officers under our Performance Award <strong>and</strong> Cash Bonus Plan. For more information regarding our Performance Award <strong>and</strong> Cash Bonus Plan, including the performance targets used for <strong>2010</strong>, see ‘‘Compensation Discussion <strong>and</strong> Analysis—Performance Award <strong>and</strong> Cash Bonus Plan.’’ (2) The February 18, <strong>2010</strong> contingent deferred unit award is subject to a three-year performance period ending on December 31, 2012. The actual number of deferred units received will be determined in the first 60 days of 2013 <strong>and</strong> is contingent on our performance in total shareholder return relative to the Performance Peer Group. Any earned shares will vest on December 31, 2012. For more information regarding our LTIP, including the performance targets used for <strong>2010</strong> <strong>and</strong> the contingent nature of the awards granted under our LTIP, please read, ‘‘Compensation Discussion <strong>and</strong> Analysis—Long-Term Incentive Plan.’’ (3) This column shows the number of time-vested stock options granted to the Named Executive Officers under the LTIP. The options vest in one-third increments over a three-year period on the anniversary of the date of grant. (4) This column represents the grant date fair value of these awards calculated in accordance with accounting st<strong>and</strong>ards for recognition of share-based payment awards. (5) These time-vested deferred units were granted as retention bonuses <strong>and</strong> vest in one-third increments over a three-year period on the anniversary date of the applicable grant. (6) As a result of her resignation, Ms. Richard was only entitled to a pro-rata portion of these deferred units. Accordingly, 6,198 of these deferred units were forfeited on May 31, <strong>2010</strong>. (7) These options were forfeited in accordance with their terms upon the resignation of Ms. Richard. P-60
Outst<strong>and</strong>ing Equity Awards at Fiscal Year-End <strong>2010</strong> The following table sets forth certain information with respect to outst<strong>and</strong>ing equity awards at December 31, <strong>2010</strong> for the Named Executive Officers. Option Awards Stock Awards Equity Incentive Plan Equity Awards: Incentive Market or Plan Payout Awards: Value of Market Number of Unearned Value of Unearned Shares, Number of Number of Number of Shares or Shares, Units or Securities Securities Shares or Units of Units or Other Underlying Underlying Units of Stock Other Rights Unexercised Unexercised Option Stock That Have Rights That Have Options Options Exercise Option Option That Have Not That Have Not Exercisable Unexercisable Price Grant Expiration Not Vested Vested(1) Not Vested Vested(1) Name (#) (#) ($/Share) Date Date (#) ($) (#) ($) Steven L. Newman 17,248 $ 83.70 7/13/06 7/12/16 17,248 $ 73.21 10/12/06 7/12/16 18,485 9,243 $144.32 7/9/08 7/8/18 18,666 37,344 $ 60.19 2/12/09 2/11/19 63,675 $ 80.26 3/1/10 2/29/20 Ricardo H. Rosa 6,470 3,235 $144.32 7/9/08 7/8/18 8,145 16,291 $ 60.19 2/12/09 2/11/19 17,688 $ 83.32 2/18/10 2/17/20 Eric B. Brown 5,545 11,092 $144.32 7/9/08 7/8/18 10,181 20,364 $ 60.19 2/12/09 2/11/19 17,688 $ 83.32 2/18/10 2/17/20 Arnaud A.Y. Bobillier 9,858 4,930 $144.32 7/9/08 7/8/18 10,181 20,364 $ 60.19 2/12/09 2/11/19 17,688 $ 83.32 2/18/10 2/17/20 Ihab M. Toma 2,425 4,852 $ 72.51 8/17/09 8/16/19 14,150 $ 83.32 2/18/10 2/17/20 Robert L. Long 103,491 $ 83.70 7/13/06 7/12/16 70,244 $144.32 7/9/08 7/8/18 154,763 $ 60.19 2/12/09 2/11/19 Cheryl D. Richard 1 $ 58.86 2/28/05 2/27/15 3,188 $144.32 7/9/08 7/8/18 8,145 $ 60.19 2/12/09 2/11/19 P-61 1,713(2) 119,071 12,549(5) 872,281 1,437(2) 99,886 8,013(6) 556,984 9,412(5) 654,228 2,822 196,157 9,412(5) 654,228 27,149(3) 1,887,127 30,906(4) 2,148,276 11,847(3) 823,485 8,585(4) 596,743 14,808(3) 1,029,304 8,585(4) 596,743 14,808(3) 1,029,304 8,585(4) 596,743 6,868(4) 477,395 75,029(3) 5,215,266 5,327(3) 370,280 670(4) 46,572
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Transocean Proxy Statement and 2010
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2010 LETTER TO THE SHAREHOLDERS We
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In addition to a focus on meeting o
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Agenda Items INVITATION TO ANNUAL G
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(9) Election of Three New Directors
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We may accept a proxy by any form o
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PROXY STATEMENT FOR ANNUAL GENERAL
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of the dividend reserve from capita
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You may revoke your proxy card at a
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AGENDA ITEM 2. Discharge of the Mem
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We are subject to litigation that,
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these tests, “passive income” i
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Item 2. Properties The description
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LDEQ would not rescind the enforcem
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Patent litigation—In 2007, severa
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Executive Officers of the Registran
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PART II Item 5. Market for Registra
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the “virtual second trading line
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Item 6. Selected Financial Data The
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payment of $453 million. In connect
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Midwater Floaters—For our Midwate
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Fleet average daily revenue—The f
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services operations and (d) approxi
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Depreciation, depletion and amortiz
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AR-49 Years ended December 31, 2010
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During the year ended December 31,
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applicable margin, ranging from 3.1
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Contractual obligations—As of Dec
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Plan assets—We review our investm
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Ports and Waterways Safety Act, the
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such U.S. business. In November 200
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Related Party Transactions Pacific
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and the long-term impact of those u
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in partial exposure to foreign exch
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REPORT OF INDEPENDENT REGISTERED PU
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To the General Meeting of Transocea
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TRANSOCEAN LTD. AND SUBSIDIARIES CO
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TRANSOCEAN LTD. AND SUBSIDIARIES CO
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PART III Item 10. Directors, Execut
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(3) Exhibits The following exhibits
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4.26 Third Supplemental Indenture,
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* 10.36 GlobalSantaFe Corporation 2
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SIGNATURES Pursuant to the requirem
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TRANSOCEAN LTD. STATUTORY FINANCIAL
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TRANSOCEAN LTD. STATEMENT OF OPERAT
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Note 1—General TRANSOCEAN LTD. NO
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TRANSOCEAN LTD. NOTES TO STATUTORY
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Note 7—Board of Directors Compens
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TRANSOCEAN LTD. NOTES TO STATUTORY
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As of December 31, 2009 Name TRANSO
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As of December 31, 2009 TRANSOCEAN
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TRANSOCEAN LTD. NOTES TO STATUTORY
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provided, however, that: TRANSOCEAN
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Transocean is a leading internation
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Under the terms and conditions cont
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As of December 31, 2010, December 3
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3. Board of Directors 3.1/ The memb
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Corporation during 1994 and 1995 an
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� Members of Executive Management
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Long-Term Incentive Plan The annual
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Pension Benefits for Fiscal Year 20
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Our Articles of Association further
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7. Mandatory Offer Requirement / Ch
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Annex 1 Subsidiaries of Transocean
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Name Jurisdiction Registered Office
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Name Jurisdiction Registered Office
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Board Of Directors Robert E. Rose C