Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 175

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 175
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 Common Share) of all other
Common Shares held as capital property by such Non-Resident Holder immediately prior to such acquisition.

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Dividends on Common Shares

Every Non-Resident Holder is liable to pay a Canadian
withholding tax on every dividend that is or is deemed to be paid or credited to the Non-Resident Holder on the Non-Resident Holder’s
Common Shares. The statutory rate of withholding tax is 25% of the gross amount of the dividend paid. Generally, the Canada - United States
Tax Convention (1980), as amended (the “Treaty”) reduces the statutory rate with respect to dividends paid to a Non-Resident
Holder who is resident in the U.S. for purposes of the Treaty, the beneficial owner of such dividends, and entitled to benefits under
the Treaty, to 15% of the gross amount of the dividend. The Company is required to withhold the applicable tax from dividends payable
to the Non-Resident Holder, and to remit the tax to the Receiver General of Canada for the account of the Non-Resident Holder.

Dispositions of Common Shares and Public Warrants

A Non-Resident Holder will not be subject to tax
under the Tax Act on any capital gain realized on a disposition or deemed disposition of Common Shares (other than a disposition to us,
which may result in a deemed dividend, unless purchased by us in the open market in the manner in which Common Shares are normally purchased
by any member of the public in the open market, in which case other considerations may arise) or public warrants, unless the Common Shares
or public warrants (as applicable) are “taxable Canadian property” of the Non-Resident Holder for purposes of the Tax Act
and the Non-Resident Holder is not entitled to relief under the Treaty or any other applicable income tax treaty or convention.

Generally, the Common Shares and public warrants
will not constitute “taxable Canadian property” of a Non-Resident Holder at a particular time provided that the Common Shares
are listed at that time on a “designated stock exchange” for purposes of the Tax Act (which currently includes the Nasdaq),
unless, at any particular time during the 60-month period that ends at that time, both of the following are true:

| 1. | (a) the Non-Resident Holder, (b) persons with whom the Non-Resident Holder does not deal at arm’s