Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 92

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 92
---
constructive sale” or other integrated transaction 
 for U.S. federal income tax purposes;                                                                |

| ● | investors subject to the                        
 alternative minimum tax provisions of the Code; |

| ● | U.S. Holders that have                            
 a functional currency other than the U.S. dollar; |

| ● | U.S. expatriates or former                
 long-term residents of the United States; |

| ● | investors subject to the 
 U.S. “inversion” rules;  |

| ● | U.S. Holders owning or                                                                                                           
 considered as owning (directly, indirectly, or through attribution) 5% (measured by vote or value) or more of our Common Shares; |

| ● | persons that acquired our                                                                                                       
 Common Shares or public warrants pursuant to an exercise of employee share options, in connection with employee share incentive 
 plans or otherwise as compensation as compensation;                                                                             |

| ● | controlled foreign corporations; |

| ● | accrual method taxpayers                                                              
 that file applicable financial statements as described in Section 451(b) of the Code; |
| ● | passive foreign investment                                                            
 companies (except to the limited extent provided herein); and                         |

| ● | persons who are not U.S.                                                                             
 Holders, all of whom may be subject to tax rules that differ materially from those summarized below. |

This summary does not discuss
any state, local, or non-U.S. tax considerations, any non-income tax (such as gift or estate tax) considerations, the alternative minimum
tax or the Medicare tax on net investment income. If a partnership (including an entity or arrangement treated as a partnership for U.S.
federal income tax purposes) holds Common Shares or public warrants the tax treatment of a partner in such partnership will generally
depend upon the status of the partner, the activities of the partnership and the partner and certain determinations made at the partner
level. If you are a partner of a partnership holding Common Shares or public warrants, you are urged to consult your tax advisor regarding
the tax consequences to you of the ownership and disposition of Common Shares or public warrants by the partnership.

This summary is based upon
the Code, the U.S. Department of Treasury regulations, or Treasury Regulations, current administrative interpretations and practices
of the Internal Revenue Service, or IRS, and judicial decisions, all as currently in effect and all of which are subject to differing
interpretations or to change, possibly with retroactive effect. No assurance can be given that the IRS would not