Transocean delivered a robust performance in Q3 2025, marked by significant debt reduction and strategic fleet rationalization, positioning the company favorably for future growth amid an evolving market landscape.

• Achieved approximately $1.2 billion in debt reduction by end of 2025, exceeding scheduled maturities of $714 million.
• Annualized interest expense reduced by approximately $87 million, enhancing cash flow for opportunistic debt repayment.
• Announced plans to retire 9 older rigs to streamline the fleet, focusing on high-specification, marketable assets.
• Secured key contract extensions with BP and Petrobras, contributing $232 million in backlog and ensuring continued operational activity.
• Anticipating a 10% increase in contracted deepwater rigs within the next 18 months driven by rising demand and strategic industry shifts.