Company Overview Market Overview Value Creation Financial Flexibility Capital Investment Dividend Litigation Update 33
Company Overview Industry Leader Premier position in ultradeepwater market segment Largest fleet of high spec and midwater floaters Operates in most major markets worldwide Significant relationships across the customer…
Company Overview Largest Worldwide Rig Fleet 5
Company Overview Strong Backlog Total Backlog From Continuing Operations 27.2 billion(4) 6
Company Overview Diversified Revenue Sources By Asset Class By Customer 12% 12% 31% 17% 29% 48% 5% 6% 40% UltraDeepwater Deepwater Harsh Environment Integrated NOC Independent Midwater HighSpec Jackups ADTI/Other…
Transocean is a technical leader and innovator, and has achieved many industry firsts Partnered with Shell to develop a new Blow Out Preventer (BOP) control system Designed to be fault resistant and fault tolerant Designed to…
Market Overview Ultra-Deepwater New Field Resources Discovered Exploration success indicates (by Water Depth) Volume Discovered (billion boe) of Discoveries significant longterm ultra 18 16 180 deepwater demand 14 12 160 140…
Market Overview Other Floaters, Jackups Deepwater Midwater HighSpec Jackups Discoverer Seven Seas GSF Rig 140 Transocean Honor Nearterm increase in rig Strong presence in the UK High utilization and steady availability and…
Value Creation 800 million margin expansion Financial Pursue MLP Divest non-core assets Flexibility Debt reduction Shareholder Value Dividends: Building 14 high- 2.24/sh in 13 Return of Capital spec rigs; seven are 3.00/sh…
Manage financial exposure Sustain investment grade rating while renewing the fleet MLPlike yield vehicle (MLP) Progress towards gross debt targets Continue to divest noncore assets Since 2011 have divested 63 noncore rigs, including…
500 million targeted in additional Item Relative Opportunity margin improvement by yearend 2015 Revenue Efficiency 55% Revenue Shipyard/Project Operations, projects Execution 45% Costs InService Maintenance Optimization Perform…
Launch anticipated in 3Q14 MLP structure permits acceleration of strategic initiatives Improves financial flexibility Supports balance sheet objectives Represents attractive value proposition Proceeds allocated consistent with…
Completed Program: 16 HighSpec Rigs 2009 20102012 2013 Americas Inspiration Andaman Clear Leader KG2 Siam Driller KG1 India Ao Thai Petrobras 10000 Luanda DD III Champion Barents Honor Spitsbergen Current Program: Nine UDW…
High-Grading of Fleet Offshore Rigs Floaters Floaters Rigs at risk of Potential newbuilds displacement Longterm growth in deepwater 215 500 Lower spec rigs at risk 110 120 298 160 floaters are 30+ years old Customers prefer…
Strategic imperative to highgrade the fleet through consistent investment in highspecification floaters and jackups Fleet renewal options include Acquire existing, highspecification rigs Build highspecification, contractbacked rigs…
Current Fleet Future Fleet Existing Under Total construction Ultra-deepwater 27 +7 34 Ultra-deepwater 50% Floaters Deepwater 12 12 Deepwater Midwater 22 22 Midwater Harsh Environment 7 7 Harsh Environment 10% Jackups…
On average, need to add oneplus floater(s) and multiple high spec jackups per year to maintain satisfactory pace of renewal Average annual capital investment for fleet renewal 1.52.0 billion Will be opportunistic; investment may…
Current and proposed dividend yields are very competitive (%) Indicated Dividend Yield (Average of Peer Groups) 10.0 8.0 7.7 6.0 5.7 5.2 3.9 4.0 2.3 2.0 1.4 1.0 0.6 - RIG Proposed RIG Current Floating Storage,…
Norway Tax Cases Norwegian court overturned Arcade civil tax assessment; state filed appeal scheduled for hearing in Appeals Court in October 2014 Court scheduled to hear second civil tax case in May 2014 Criminal trial concluded…
We are delivering on our commitment to create value for all our stakeholders Improving financial flexibility to capitalize on highreturn opportunities and increase competitiveness Margin improvement MLP Executing plan to…
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