Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 73

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 73
---
Subordination of Subordinated Debt Securities

Our obligations pursuant
to any subordinated debt securities will be unsecured and will be subordinate and junior in priority of payment to certain of our other
indebtedness to the extent described in a prospectus supplement. The subordinated indenture does not limit the amount of senior indebtedness
we may incur. It also does not limit us from issuing any other secured or unsecured debt.

<div align='center'>25

DESCRIPTION OF WARRANTS</div>

General

We may issue warrants
to purchase our common shares, preferred shares and/or debt securities in one or more series together with other securities or separately,
as described in the applicable prospectus supplement. Below is a description of certain general terms and provisions of the warrants
that we may offer. Particular terms of the warrants will be described in the warrant agreements and the prospectus supplement relating
to the warrants.

The applicable prospectus supplement will
contain, where applicable, the following terms of and other information relating to the warrants:

| ● | the specific designation and aggregate number of, and the price 
 at which we will issue, the warrants;                           |

| ● | the currency or currency units in which the offering price, 
 if any, and the exercise price are payable;                 |

| ● | the designation, amount and terms of the securities purchasable 
 upon exercise of the warrants;                                  |

| ● | if applicable, the exercise price                                                         
 for our common shares and the number of our common shares to be received upon exercise of 
 the warrants;                                                                             |

| ● | if applicable, the exercise price                                                          
 for our preferred shares, the number of preferred shares to be received upon exercise, and 
 a description of that series of our preferred shares;                                      |

| ● | if applicable, the exercise price                                                        
 for our debt securities, the amount of debt securities to be received upon exercise, and 
 a description of that series of debt securities;                                         |

| ● | the date on which the right to exercise                                                              
 the warrants will begin and the date on which that right will expire or, if you may not continuously 
 exercise the warrants throughout that period, the specific date or dates on which you may            
 exercise the warrants;                                                                               |

| ● | whether the warrants will be issued                                                             
 in fully registered form or bearer form, in definitive or global form or in any combination     
 of these forms, although, in any case, the form of a warrant included in a unit will correspond 
 to the form of