Transocean Offers Dividend Schedule

Transocean Ltd.

today announced the schedule for the payment of the first installment of its U.S. dollar-denominated dividend. The installment of $0.75 per share, or approximately $271 million, is based upon the number of currently outstanding shares.  The installment represents the first of four quarterly installments totaling $3.00 per share, or approximately $1.1 billion in the aggregate, from additional paid-in capital ("APIC") approved by shareholders at the company's 2014 Annual General Meeting held on May 16, 2014. 2014 Dividend Schedule - First Installment o May 28, 2014 - Ex-Dividend Date o May 30, 2014 - Record Date o June 18, 2014 - Installment Payment Date Currency Election Period On or about June 16, 2014, the dividend payment will be converted into Swiss francs ("CHF") by Computershare. The equivalent CHF per share will be posted to the company's website at www.deepwater.com.  Shareholders who wish to receive the payment in CHF must make their election between 5 p.m. EDT (11 p.m. CEST) on June 2, 2014 and 8 p.m. EDT on June 6, 2014 (2 a.m. CEST June 7, 2014). Holders of shares registered in the share register who would like to receive this payment in CHF must send their election during the election period, in writing, to the following address: o Computershare Attn: Steven Myers, 480 Washington Boulevard, 29^th Floor, Jersey City, NJ 07310 USA o Email: steven.myers@computershare.com o Phone: +1 201-680-5333 If you hold your shares in the name of a bank, broker or nominee, you must contact them directly to make the election arrangements.