Transocean enters support agreement with Famatown to nominate Kristian Johansen to board

Transocean Ltd.

Transocean will nominate Kristian Johansen for election to board at EGM to approve Valaris acquisition.
If Johansen not elected, Famatown can designate a replacement director acceptable to the board.
Famatown parties get board observer rights if no director from them is on board.
Agreement includes standstill and voting covenants; ends if Famatown ownership falls below 3.5%.
Re-nomination period lasts 2 years from EGM, extendable if Johansen re-elected.

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