Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 94

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 94
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 dividends that
the Company pays to a U.S. Holder that is a taxable corporation generally will be taxed at regular rates and will not qualify for the
dividends received deduction generally allowed to U.S. corporations in respect of dividends received from other U.S. corporations. With
respect to non-corporate U.S. Holders, under tax laws currently in effect and subject to certain exceptions (including, but not limited
to, dividends treated as investment income for purposes of investment interest deduction limitations), dividends generally will be taxed
at the lower applicable long-term capital gains rate only if Common Shares are readily tradable on an established securities market in
the United States or the Company is eligible for benefits under an applicable tax treaty with the United States, and the Company is not
treated as a PFIC with respect to such U.S. Holder at the time the dividend was paid or in the preceding year and provided certain holding
period requirements are met. The amount of any dividend distribution paid in Canadian dollars will be the U.S. dollar amount calculated
by reference to the exchange rate in effect on the date of actual or constructive receipt, regardless of whether the payment is in fact
converted into U.S. dollars at that time. A U.S. Holder may have foreign currency gain or loss if the dividend is converted into U.S.
dollars after the date of receipt.

Subject to applicable limitations,
non-refundable Canadian income taxes withheld from dividends on Common Shares at a rate not exceeding the rate provided by the applicable
treaty with the United States will be eligible for credit against the U.S. treaty beneficiary’s U.S. federal income tax liability.
The rules governing foreign tax credits are complex and U.S. Holders are urged to consult their tax advisers regarding the creditability
of foreign taxes in their particular circumstances. In lieu of claiming a foreign tax credit, a U.S. Holder may deduct foreign taxes,
including any Canadian income tax, in computing their taxable income, subject to generally applicable limitations under U.S. law. An
election to deduct foreign taxes instead of claiming foreign tax credits applies to all foreign taxes paid or accrued in the taxable
year.

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Sale, Taxable Exchange or Other Taxable Disposition of Common Shares and Public Warrants

Subject to the PFIC rules discussed
below under the heading “- Passive Foreign Investment Company Rules,” upon any sale, exchange or other taxable disposition
of Common Shares or public warrants, a U.S. Holder generally will