Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 172

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 172
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 by filing a protective statement with such return and
if certain other conditions are met or with the consent of the IRS. U.S. Holders are urged to consult their tax advisors regarding the
availability and tax consequences of a retroactive QEF election under their particular circumstances.

Related PFIC Rules

If the Company is a PFIC and, at any time, has
a foreign subsidiary that is classified as a PFIC, a U.S. Holder generally would be deemed to own a proportionate amount of the shares
of such lower-tier PFIC, and generally could incur liability for the deferred tax and interest charge described above if the Company receives
a distribution from, or disposes of all or part of its interest in, the lower-tier PFIC, or the U.S. Holder otherwise was deemed to have
disposed of an interest in the lower-tier PFIC. In certain circumstances, a U.S. Holder may make a QEF election with respect to any lower-tier
PFIC.

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A U.S. Holder that owns (or is deemed to own)
shares in a PFIC during any taxable year of the U.S. Holder, may have to file an IRS Form 8621 (whether or not a QEF or mark-to-market
election is made) and to provide such other information as may be required by the U.S. Treasury Department. Failure to do so, if required,
will extend the statute of limitations applicable to such U.S. Holder until such required information is furnished to the IRS.

The rules dealing with PFICs and with the
QEF and mark-to-market elections are very complex and are affected by various factors in addition to those described above. Accordingly,
U.S. Holders of Common Shares and public warrants are urged to consult their own tax advisors concerning the application of the PFIC rules to
the Company’s securities under their particular circumstances.

Information Reporting and Backup Withholding

Payments of dividends and sales proceeds that
are made within the United States or through certain U.S.-related financial intermediaries are subject to information reporting, and may
be subject to backup withholding, unless (i) the U.S. Holder is a corporation or other exempt recipient or (ii) in the case
of backup withholding, the U.S. Holder provides a correct taxpayer identification number and certifies that it is not subject to backup
withholding.

The amount of any backup withholding from a payment
to a U.S. Holder will be allowed as a credit against the