Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 27

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 27
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operating costs set forth in Section 18 of the NORI Initial Assessment, including any references thereto throughout the NORI
Initial Assessment, should no longer be relied upon or used by investors for any reason.

The NORI Initial Assessment
and TOML Mineral Resource Statement do not include the conversion of mineral resources to mineral reserves.

As used in this prospectus
supplement or in the applicable report summary, the terms “mineral resource,” “measured mineral resource,” “indicated
mineral resource” and “inferred mineral resource”, as applicable, are defined and used in accordance with the SEC Mining
Rules.

You are specifically cautioned
not to assume that any part or all of the mineral deposits in these categories will ever be converted into mineral reserves, as defined
by the SEC. You are also cautioned that mineral resources do not have demonstrated economic value. Information concerning our mineral
properties in the NORI and TOML Technical Report Summaries and in this prospectus supplement includes information that has been prepared
in accordance with the requirements of the SEC Mining Rules set forth in S-K 1300. Under SEC standards, mineralization, such as mineral
resources, may not be classified as a “reserve” unless the determination has been made that the mineralization would be economically
and legally produced or extracted at the time of the reserve determination. Inferred mineral resources have a high degree of uncertainty
as to their existence and to whether they can be economically or legally commercialized. Under the SEC Mining Rules, estimates of inferred
mineral resources may not form the basis of an economic analysis. It cannot be assumed that all or any part of an inferred mineral resource
will ever be upgraded to a higher category. A significant amount of exploration must be completed in order to determine whether an inferred
mineral resource may be upgraded to a higher category. Therefore, you are cautioned not to assume that all or any part of an inferred
mineral resource exists, that it can be economically or legally commercialized, or that it will ever be upgraded to a higher category.
Approximately 97% of the NORI Area D resource is categorized as measured or indicated.

<div align='center'>S-14</div>

Likewise, you are cautioned
not to assume that all or any part of measured or indicated mineral resources will ever be upgraded to mineral reserves.

Further information on each
of the polymetallic nodule areas in the CCZ and the Technical Reports referred to above can be found in our Annual Report on Form