Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 158

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 158
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’s
request; or (iii) an individual who, at the request of the company, held, or holds, an equivalent position in another entity, or
an indemnifiable person, against all judgments, penalties or fines, or amounts paid to settle a proceeding or an action, in respect of
any legal proceeding or investigative action (whether current, threatened, pending or completed) in which he or she is involved because
of that person’s position as an indemnifiable person, or an eligible proceeding, unless: (i) the individual did not act honestly
and in good faith with a view to the best interests of such company or the other entity, as the case may be; or (ii) in the case
of a proceeding other than a civil proceeding, the individual did not have reasonable grounds for believing that the individual’s
conduct in respect of which proceeding was brought was lawful. A company cannot indemnify an indemnifiable person if it is prohibited
from doing so under its articles or by applicable law. A company may pay, as they are incurred in advance of the final disposition of
an eligible proceeding, the expenses actually and reasonably incurred, subject to the indemnifiable person providing an undertaking that
such person will repay the amounts advanced if it is ultimately determined that the payment of such expenses is prohibited by the BCBCA.

<div align='center'>32

OWNERSHIP AND EXCHANGE CONTROLS</div>

There is no limitation imposed by Canadian law
or by the notice of articles and articles on the right of a non-resident to hold or vote Common Shares, other than discussed below.

Competition Act

Limitations on the ability to acquire and hold
Common Shares may be imposed by the Competition Act (Canada). This legislation permits the Commissioner of Competition, or the Commissioner,
to review any acquisition or establishment, directly or indirectly, including through the acquisition of shares, of control over or of
a significant interest in us. This legislation grants the Commissioner jurisdiction, for up to one year after the acquisition has been
substantially completed, to challenge this type of acquisition by seeking a remedial order, including an order to prohibit the acquisition
or require divestitures, from the Canadian Competition Tribunal, which may be granted where the Competition Tribunal finds that the acquisition
substantially prevents or lessens, or is likely to substantially prevent or lessen, competition.

This legislation also requires any person or persons
who intend to acquire more than 20% of our voting shares or, if such person or persons already