Transocean Completes Transaction to Move Incorporation to Switzerland

Transocean announced the completion today of the change of place of incorporation of its group holding company from the Cayman Islands to Switzerland (the "Transaction").

In the Transaction, each outstanding ordinary share of Transocean Inc. immediately prior to the effective time of the Transaction was exchanged for one share of Transocean Ltd. The shares of Transocean Ltd. will be listed on the New York Stock Exchange under the trading symbol "RIG," the same symbol under which the ordinary shares of Transocean Inc. were listed.