Letter Regarding Qualified Person Status

TRANSOCEAN INC.

August 10 , 2020

To the beneficial owners, or representatives acting on behalf of beneficial owners, of the securities listed below:

Transocean Inc. (the “Company”) is undertaking a transaction with respect to the outstanding notes listed in the table below (collectively, the “Existing Notes”):

Title of Series Issuer CUSIP Number(s)

6.375% Senior Notes due 2021
Transocean Inc.
893830BB4

3.800% Senior Notes due 2022
Transocean Inc.
893830BC2

7.25% Senior Notes due 2025
Transocean Inc.
893830BK4 / G90073AD2

7.50% Senior Notes due 2026
Transocean Inc.
893830 BF5 / G90073AB6

8.00% Senior Notes due 2027
Transocean Inc.
893830BL2 / G90073AE0

8.00% Debentures due 2027
Transocean Inc.
893817AB2

7.45% Notes due 2027
Transocean Inc.
893817AA4

7.00% Notes due 2028
Global Marine Inc.
379352AL1

7.50% Notes due 2031
Transocean Inc.
893830AF6

6.80% Senior Notes due 2038
Transocean Inc.
893830AT6

7.35% Senior Notes due 2041
Transocean Inc.
893830AZ2

The transaction will be available only to the following holders of Existing Notes (collectively, “Eligible Holders”):
(a) persons other than “U.S. persons” as defined in Regulation S, who are in compliance with the requirements of Regulation S and
(b) persons who are reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”); provided that, in each case, if such holder is in the European Economic Area or the United Kingdom, such holder is not a “retail investor”. For these purposes, a “retail investor” means a person who is one (or more) of:
(i) a “retail client” as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or
(ii) a “customer” within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or
(iii) not a “qualified investor” as defined in Regulation (EU) 2017/1129.

To receive further information, please complete the attached eligibility letter and return it to D.F. King & Co., Inc., as information agent, at the address set forth therein.

This letter neither is an offer or solicitation with respect to the Existing Notes nor any other security.

I am an "Eligible Holder"

I am not an "Eligible Holder"


PLEASE RESPOND NO LATER THAN 5:00 P.M., NEW YORK CITY TIME, ON SEPTMEBER 4, 2020.

You may direct any questions to D.F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, New York 10005, Attn: Andrew Beck, Email: transocean@dfking.com, Telephone number: (212) 269-5550, (800) 967-5051 (toll-free).

Very truly yours,

TRANSOCEAN INC.