Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 99

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 99
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 these rules:

| ● | the U.S. Holder’s                                                                                                  
 gain or excess distribution will be allocated ratably over the U.S. Holder’s holding period for the Common Shares; |

| ● | the amount allocated to                                                                                                     
 the U.S. Holder’s taxable year in which the U.S. Holder recognized the gain or received the excess distribution, and to any 
 period in the U.S. Holder’s holding period before the first day of the Company’s first taxable year in which the            
 Company is a PFIC, will be taxed as ordinary income;                                                                        |

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| ● | the amount allocated to                                                                                                          
 other taxable years (or portions thereof) of the U.S. Holder and included in its holding period will be taxed at the highest tax 
 rate in effect for that year and applicable to the U.S. Holder; and                                                              |

| ● | an additional tax equal                                                                                                                     
 to the interest charge generally applicable to underpayments of tax will be imposed on the U.S. Holder with respect to the tax attributable 
 to each such other taxable year of the U.S. Holder.                                                                                         |

PFIC Elections

In general, if the Company is determined to be
a PFIC, a U.S. Holder may avoid the adverse PFIC tax consequences described above in respect of Common Shares by making and maintaining
a timely and valid QEF election (if eligible to do so) to include in income its pro rata share of the Company’s net capital gains
(as long-term capital gain) and other earnings and profits (as ordinary income), on a current basis, in each case whether or not distributed,
in the first taxable year of the U.S. Holder in which or with which the Company’s taxable year ends and each subsequent taxable
year. A U.S. Holder generally may make a separate election to defer the payment of taxes on undistributed income inclusions under the
QEF rules, but if deferred, any such taxes will be subject to an interest charge.

In order to comply with
the requirements of a QEF election, a U.S. Holder must receive a PFIC Annual Information Statement from us. If the Company determines
that it is a PFIC, the Company intends to provide the information necessary for U.S. Holders to make or maintain a QEF election, including
information necessary to determine the appropriate income inclusion amounts for purposes of the QEF election. However, there is also
no assurance that the Company will have timely