Transocean Proxy Statement and 2010 Annual Report

Audit Committee Pre-Approval of Audit and Non-Audit Services
The Audit Committee pre-approves all auditing services, review or attest engagements and permitted
non-audit services to be performed by our independent registered public accounting firm. The Audit
Committee has considered whether the provision of services rendered in 2010 other than the audit of our
financial statements and reviews of quarterly financial statements was compatible with maintaining the
independence of Ernst & Young LLP and determined that the provision of such services was compatible
with maintaining such independence.
The Audit Committee has adopted policies and procedures for pre-approving all audit and non-audit
services performed by the independent registered public accounting firm. The policy requires advance
approval by the Audit Committee of all audit and non-audit work. Unless the specific service has been
previously pre-approved with respect to the 12-month period following the advance approval, the Audit
Committee must approve a service before the independent registered public accounting firm is engaged to
perform the service. The Audit Committee has given advance approval for specified audit, audit-related
and tax services for 2011. Requests for services that have received this pre-approval are subject to specified
fee or budget restrictions as well as internal management controls.
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