Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 91

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 91
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, subject to the federal government’s prerogative to conduct a national-security
review, including:

| ● | the acquisition of Common Shares                                                   
 by a person in the ordinary course of that person’s business as a trader or dealer 
 in securities;                                                                     |

| ● | the acquisition of control of us                                                                
 in connection with the realization of security granted for a loan or other financial assistance 
 and not for any purpose related to the provisions of the Investment Canada Act; and             |

| ● | the acquisition of control of us                                                          
 by reason of an amalgamation, merger, consolidation or corporate reorganization following 
 which the ultimate direct or indirect control in fact of us, through ownership of Common  
 Shares, remains unchanged.                                                                |

Other

There is no law, governmental decree or regulation
in Canada that restricts the export or import of capital, or that would affect the remittance of dividends (if any) or other payments
by us to non-resident holders of Common Shares, other than withholding tax requirements.

<div align='center'>36

MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</div>

The following discussion
is a summary of material U.S. federal income tax considerations applicable to you if you are a U.S. Holder (as defined below) of our
Common Shares and/or public warrants. This discussion addresses only those U.S. Holders that hold our Common Shares and/or public warrants
as capital assets within the meaning of Section 1221 of the Internal Revenue Code of 1986, as amended, or the Code (generally property
held for investment). This summary does not discuss all aspects of U.S. federal income taxation that may be relevant to particular investors
in light of their particular circumstances, or to investors subject to special tax rules, such as:

| ● | financial institutions; |

| ● | insurance companies; |

| ● | mutual funds; |

| ● | pension plans; |

| ● | S corporations; |

| ● | broker-dealers; |

| ● | traders in securities that      
 elect mark-to-market treatment; |

| ● | regulated investment companies; |

| ● | real estate investment 
 trusts;                |

| ● | trusts and estates; |

| ● | tax-exempt organizations         
 (including private foundations); |

| ● | investors that hold our                                                                              
 Common Shares or public warrants as part of a “straddle,” “hedge,” “conversion,” “synthetic          
 security,” “constructive ownership transaction,” “