1. Harmonization for Grades 21 and above February 2010

2. 2 What’s changing & Why  Who will be effected?  Shore based employees in grades 21 and above  What’s changing?  Employees affected by this process will see changes in the way their Business Title is displayed in all applications that display Business Title; e.g. TED, ERP, reports generated from PeopleSoft HCM, etc…  What’s not changing?  Employee’s grade  Employee’s compensation  Employee’s eligibility for AIP/LTIP  Employee’s Job Description  Title on your business card  Why is this changing?  Enable automation, workflow and data consistency within PS HCM, ERP and downstream applications  Support the organization’s global reporting needs  Facilitate consistency in titles and grades globally  Provide accurate analytics for compensation purposes

3. 3  Business Title  The Title displayed on all reports generated from PeopleSoft HCM and anywhere Title is displayed currently; e.g. TED, GTMS and other applications  Derived from a combination of the Manager Level, Job Family and Job Description  Overrides for any derived Business Title must be approved by the Functional VP  Job Title  Job Description within a PS HCM Compensation Module  Will no longer appear in any other applications or on any reports unless requested  Business Card Title  The approved Title displayed on your business card  Position Title  Not used by Transocean in the PeopleSoft HCM application Definitions

4. 4 Compensation Philosophy  Standardize Manager Levels to Grades across all functions  Standardize Grades for Non Manager jobs within each Function

5. 5 Timeline  Phase I (grades 21 and above)  Implementation – 29 March 2010  New data will be loaded to PeopleSoft 26 March  The Business Title will be updated wherever Job Title exists today  Effective Date – 1 January 2010  The changes will be retroactive to 1 January 2010 to support the 2010 AIP/LTIP processes  All employees in jobs graded 21 and above will be harmonized  Phase II (grades 20 and below)  Implementation – 1 October 2010  More to come

6. 6 Questions