Transocean Ltd (switzerland) · NYSE:RIG
Transocean Ltd (switzerland) — Transocean — Investor Presentation (November 2025)
17 slides from Transocean Ltd (switzerland)'s investor presentation, Nov 10, 2025
Slide 1: Leading the Future of Offshore Drilling
Leading the Future of Offshore Drilling November 10, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements • The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain wo
Slide 3: Today's Presentation
PRESENTATION TODAY’S 01 Market Outlook 02 Preferred Provider of Offshore Drilling Services 03 Unique Investment Opportunity 3
Slide 4: Market Outlook
Market Outlook Increasing oil and gas Deepwater projects offer Rig utilization expected demand compelling economics to increase 4
Slide 5: Projected Oil Demand Requires More Deepwater Development
Projected Oil Demand Requires More Deepwater Development Global Oil Demand Oil Requirements from Deepwater ~ in mbbld ~ in mbbld Historical Forecast Historical Forecast 120 10 Total Demand Total Demand 100 9 80 8 60 7 40 6 20 0 5 2000 2005 2010 2015 2020 2025 2030 2023 2024 2025 2026 2027 2028 2029
Slide 6: Deepwater Economics Remain Attractive for Project Sanctioning
Deepwater Economics Remain Attractive for Project Sanctioning Deepwater 2P Breakevens Global Oil and Gas CapEx By Supply Segment ~ in mbbld 2P is the sum of Proved (P90) and Probable (P50) Reserves USD billion, nominal 99% 100% 100% 30% 600 20% 100% 91% 88% 85% 18% 90% 25% 500 16% 80% 72% 47% Deepwa
Slide 7: RIG has Industry's Highest-Specification Rig Fleet
RIG has Industry’s Highest-Specification Rig Fleet TRANSOCEAN Transocean Peers OWNERSHIP High Spec HE Semi 7 14 33% 1700 ST 2 100% 1 1400 ST 8 4 67% Up to 1250 ST 7 56 11% 2 Stacked 3 4 43% 1. Includes dual activity, globally marketed assets 2. Includes 7G “stranded” and delivered uncontracted newbu
Slide 8: Competitive Floater Supply and Projected Demand through 2027
Competitive Floater Supply1 and Projected Demand through 2027 Drillships HE Semis UK & North Sea Current 63 19 Working 17 Projected 70-75 18-21 North Demand America Med & Black Sea 22 Latin America 5 6 Africa SE Asia Ultra-Deepwater Drillships 15 4 Brazil Transocean Peers Australia 27 Harsh Environm
Slide 9: High Specification Harsh Environment Outlook Remains Robust
High Specification Harsh Environment Outlook Remains Robust Sources: Wood Mackenzie, Fearnley Offshore, Westwood Global Energy Group, and Transocean Marketing as of October 28, 2025 9
Slide 10: Drillship Utilization Is Projected To Exceed 90%
Drillship Utilization Is Projected To Exceed 90% Sources: Wood Mackenzie, Fearnley Offshore, Westwood Global Energy Group, and Transocean Marketing as of October 28, 2025 10
Slide 11: Trusted to Perform
Trusted to Perform Highest Uniquely qualified, Safe, reliable, Consistent, specification disciplined, high- efficient predictable fleet performing team operations customer experience 11
Slide 12: Creating Value Through the Cycle
Creating Value Through the Cycle Optimizing the value of Maximizing cash flow Building a strong, full- our assets and service cycle capital structure 12
Slide 13: Capital Markets Transactions Result in Improvement to Debt Maturity Profile
Capital Markets Transactions Result in Improvement to Debt Maturity Profile ($B)1 On December 31, 2024 Pro Forma December 31, 2025 $2.5 $2.1 $0.8 $1.3 $1.3 $1.3 $0.6 $0.7 $0.7 $0.5 $0.5 $0.4 $0.4 $0.0 2025 2026 2027 2028 2029 2030 Thereafter Total debt to be reduced by ~$1.3B since beginning of 2025
Slide 14: Why Transocean?
Why Transocean? • Global demand for oil and gas continues to rise OPTIMALLY POSITIONED for favorable fundamentals • Offshore prospects are key to offset declines in reserves & production • Economics are attractive now and long-term • Highest specification rigs work sooner, longer, and at the best da
Slide 15: Slide 15
Slide 16: Approximately $6.7 Billion Contract Backlog
Approximately $6.7 Billion Contract Backlog 1,2 USD Billions 3.5 3.0 Ultra-Deepwater 1.05 Harsh Environment 2.5 2.0 1.5 0.35 1.0 2.11 0.23 1.35 0.5 1.05 0.58 0.0 2025 2026 2027 2028-2030 1. As of October 15, 2025 2. Contracted operating dayrate multiplied by the firm contract duration for future per
Slide 17: Projected Liquidity
Projected Liquidity 3.0 ~$1.0B - $1.1B ~$0.1B ~$0.5B 2.0 ~$1.6B - $1.7B USD Billions ~$0.5B 1.0 ~$0.7B 0.0 Cash & Short-Term Revolving Credit Facility Operating Cash Flows CapEx / Net Investments Scheduled Debt Repayment Projected Liquidity @ Investments at 09/30/25 (1) Through 4Q26 Through 4Q26 Thr