Not if it's region locked.
Honestly, I wouldn't worry about it. Paramount have the rights to the film globally, and being a former backer of HD-DVD prior to Blu-ray Disc, Paramount don't lock their titles with the possible exception being films licensed for certain territories.
Long story short, all TF movies (well, Bay TF movies) have been Paramount titles globally, all have been region free on Blu-ray Disc.
Technically it's still hedging your bets, but the odds are VERY much in your favour, if you know what I mean.
If you want to look into region coding hell, try drooling at some of the Image Entertainment, Criterion Collection, or Shout Factory Blu-ray releases. There's a reason I ensured my player is region free!
General rule: Anything Warner/Universal/Paramount will be region free, except where they don't own the rights globally (and even then, it's just occasionally). Sony is generally pretty lax these days, as is Disney, and the back of their boxes are usually pretty accurate in their region coding IIRC. Fox are a pain, and anything smaller (distributor wise) is very hit and miss!!!
Oh, and Roadshow over here lock all their stuff to Zone B. And are dicks. But that's kind of beside the point.