About this guide

This guide provides highlights of the Transocean, Inc. benefit programs for employees who are U.S. Expatriate employees. It is not an official plan document. The guide is a general summary of certain terms and conditions of the health and welfare benefits and is for information purposes only. If there are any discrepancies or conflicts between this guide and the terms of the official plan documents and any underlying insurance contracts, as applicable, the official plan documents and insurance contracts, as applicable, will control. Nothing in this document creates an employment contract between Transocean Inc. and any employees. Transocean Inc. reserves the right to amend, change or terminate the plans or any underlying contract, at any time and without notice, at its sole discretion, according to the terms of the applicable plan.

Annual Enrollment

Around the 4th quarter of each year you will be given an opportunity to change your coverage, to be effective the first of the coming year. Coverage cannot be changed outside of this time period, unless you experience a qualifying family status change during the year (e.g. marriage, divorce, birth or adoption of a child, change in spouse's eligibility for medical coverage, etc.) If you did not enroll, you will default into your most recently elected coverage, except for HSA and FSA, which have to be elected every year.

New Hire Enrollment

You have 60 days from your hire date to enroll in benefits. The elections you make as a new hire become effective on your hire date and remain in effect through the end of that year. They can't be changed unless you experience a qualifying family status change during the year.

If you don't take action within 60 days:

• You will have Medical (Employee Only coverage), Dental (Employee Only coverage), Basic Life Insurance, Basic Accidental Death & Dismemberment (AD&D) Insurance, Short-Term Disability, and Long-Term Disability.
• You will not have any Voluntary Life Insurance or Voluntary AD&D Insurance.
• After 60 days, you will be automatically enrolled in the U.S. Savings Plan at a 3% pre-tax contribution rate in the Plan's default investment option. Your contribution rate will automatically increase by 1% each year on the anniversary of your original auto-enrollment until you are contributing 5%.

Qualifying Family Status Change

You can notify Transocean of a Qualifying Family Status Change online at Your​Transocean​Benefits.com. You will need to log into your account and select “Life Changes” at the top of the page. Then, select the type of qualifying status change you are making (i.e., marriage, birth of a child, etc.). If the change you are making is not listed, select “Other Life Changes” and follow the prompts to process your change. If you have a question, you can click "contact us" or call the Benefits Center at 1 855 RIG 5005 or +1 646 259 0401, 7 a.m. to 7 p.m. Central Standard Time. Please refer to the Summary Plan Descriptions (SPDs) of each plan on Rig Central for a complete list of qualifying events. After you have added a new dependent, you will receive information from the Dependent Verification team about how to provide the required documentation.

Transferring Employee Enrollment

You have 60 days from your transfer date (the date in which you change your home address) to enroll in benefits. A transfer is defined as a change that affects your employee status and/or causes you to lose coverage due to a move.

The elections you make at enrollment will be effective on your transfer date and remain in effect through the end of that year. They cannot be changed unless you experience a qualifying family status change during the year.

If you don't enroll

• AND you had Transocean coverage before you transferred, you will be enrolled for Medical, Dental, Vision, Voluntary Life Insurance, and Voluntary Accidental Death & Dismemberment (AD&D) Insurance at the same coverage level that you had before you transferred.
• AND you did not have Transocean coverage before you transferred; you will be enrolled for Medical, Dental, Vision, Voluntary Life Insurance, and Voluntary AD&D Insurance at the Employee Only coverage level.
• You will have Basic Life Insurance, Basic AD&D Insurance, Short-Term Disability and Long-Term Disability.
• After 60 days, you will be automatically enrolled in the U.S. Savings Plan at a 3% pre-tax contribution rate in the Plan's default investment option. Your contribution rate will automatically increase by 1% each year on the anniversary of your original auto-enrollment until you are contributing 5%. You can make changes to your account at any time.

Why do we need to ensure only eligible dependents are covered?

As a self-insured medical plan, Transocean is responsible for paying the claims submitted by members in the plan, including covered dependents. That’s right; Transocean pays the claims submitted by each of us as members in the plan. For example, if you go to the doctor and your statement says, “Insurance paid $200,” that is $200 paid by Transocean to the cost of your medical care.

The claims submitted and paid by Transocean are a direct contributor to the amount you pay for insurance premiums. The more claims experienced and paid by the company, the larger future annual premiums will be. As a plan sponsor, Transocean is responsible for ensuring claims are paid appropriately (utilizing MSH) and only eligible claims expenses for eligible dependents are paid, to ensure costs for all plan participants are managed.

*Coinsurance is the amount that the employee owes after the deductible has been met. This chart reflects Transocean's portion of the coinsurance amount.

All coinsurance reimbursements are based on Reasonable & Customary rates.

UHC Options PPO Network

MSH partners with United Healthcare International in the U.S. to provide you with an extensive network of contracted providers. A list of in-network providers can be found at www.myuhc.com. Just click on Find Physician, Laboratory or Facility and select UnitedHealthcare Options PPO.

OptumRx

OptumRx is the prescription drug provider in the U.S. If you have questions, contact the member services number on the back of your ID card.

Dependent Care Flexible Spending Account (FSA)

The FSA is used to reimburse yourself for day care, day camp, elder care, or other expenses you pay because both you and your spouse work, your spouse goes to school full-time or your spouse isn't mentally or physically able to care for himself or herself.

• Set aside $240 to $5,000 each calendar year (if you and your spouse file separate tax returns, the maximum is $2,500).
• Leftover FSA dollars are forfeited. Be sure to file claims by the 31 March deadline.
• The Dependent Care FSA is not for healthcare costs. Put medical care dollars in your Healthcare FSA.
• The Internal Revenue Service has strict rules about eligible dependents and eligible costs. For details, speak with your tax advisor, visit the IRS website, or call the IRS at +1 800 829 3676.

Healthcare Flexible Spending Account

You can use this FSA to reimburse yourself for any healthcare costs you pay out of your own pocket, like deductibles, coinsurance and other costs not covered by your healthcare plan.

Use your Healthcare FSA to pay for your family's costs too.

• Set aside $240 to $2,850 each calendar year.
• You have until 31 December to use your current year Healthcare FSA.
• Leftover FSA dollars are forfeited. Be sure to file claims by the 31 March deadline.
• You must have a prescription to claim expenses for over-the-counter medicines. There are certain exceptions. Visit the IRS website to learn more.
• You do not have to be enrolled in other Transocean benefits to use the Healthcare FSA.
• The Internal Revenue Service has strict rules about eligible dependents and eligible costs. For details, speak with your tax advisor, visit the IRS website, or call the IRS at +1 800 829 3676.

Learn even more at www.myuhc.com.

Guaranteed Issue Coverage and Evidence of Insurability

The Guaranteed Issue (GI) amounts are:

• Up to $250,000 of Voluntary Life coverage for you
• Up to $50,000 of Dependent Life coverage for your spouse
• Up to $20,000 of Dependent Life coverage for each of your dependent children

During annual enrollment, you may enroll or increase your coverage by one times your annual base salary, up to $250,000 without providing Evidence of Insurability. In addition you can enroll or increase your spouse life insurance by one increment up to $50,000 without providing Evidence of Insurability.

If you wish to buy more coverage than the Guaranteed Issue limit, you must provide Evidence of Insurability to the insurance carrier. If you select Voluntary or Dependent Life coverage that requires EOI, the insurance carrier will ask for additional information after enrollment. New York Life will approve or deny your request for excess coverage based on this information.

While your request for extra coverage is being processed by New York Life, you will be covered for the maximum GI amount for which you are eligible. If your request for excess coverage is approved by New York Life, your coverage will become effective on the first of the month following the date of approval.

Voluntary AD&D Insurance

You can elect to cover yourself alone or add your family to your coverage. Here's how Voluntary AD&D works: