Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 70

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 70
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 of or premium or interest on any debt security 
 payable in currency other than that stated in the debt security; or |

| ● | reducing the percentage of debt securities, the holders of which 
 are required to consent to any amendment or waiver.              |

Except for certain specified provisions, the
holders of at least a majority in principal amount of the outstanding debt securities of any series (or, at a meeting of holders of such
series at which a quorum is present, the holders of a majority in principal amount of the debt securities of such series represented
at such meeting) may on behalf of the holders of all debt securities of that series waive our compliance with provisions of the indenture.
The holders of a majority in principal amount of the outstanding debt securities of any series may on behalf of the holders of all the
debt securities of such series waive any past default under the indenture with respect to that series and its consequences, except a
default in the payment of the principal of, premium or any interest on any debt security of that series or in respect of a covenant or
provision, which cannot be modified or amended without the consent of the holder of each outstanding debt security of the series affected;
provided, however, that the holders of a majority in principal amount of the outstanding debt securities of any series may rescind an
acceleration and its consequences, including any related payment default that resulted from the acceleration.

Discharge

Each indenture provides that we can elect to
be discharged from our obligations with respect to one or more series of debt securities, except for obligations to:

| ● | the transfer or exchange of debt securities of the series; |

| ● | replace stolen, lost or mutilated debt securities of the series; |

| ● | maintain paying agencies; |

| ● | hold monies for payment in trust; |

| ● | compensate and indemnify the trustee; and |

| ● | appoint any successor trustee. |

In order to exercise our rights to be discharged
with respect to a series, we must deposit with the trustee money or government obligations sufficient to pay all the principal of, the
premium, if any, and interest on, the debt securities of the series on the dates payments are due.

Form, Exchange and Transfer

We will issue the debt securities of each series
only in fully registered form without coupons and, unless we otherwise specify in the applicable prospectus supplement, in denominations
of $1,000 and any integral multiple thereof. The indentures provide that we may issue