Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 115

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 115
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 nickel-copper-cobalt matte or nickel-copper-cobalt alloy product and/or
end-products like nickel and cobalt sulfates, and copper cathode.

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Cautionary Statements Regarding the NORI Initial Assessment and TOML Mineral Resource Statement

We have estimated the size and quality of our
resource in the NORI and TOML contracted areas in our SEC Regulation S-K (subpart 1300), referred to herein as the SEC Mining Rules, compliant
Technical Report Summary - Initial Assessment, of the NORI Property, Clarion-Clipperton Zone, Pacific Ocean dated March 17, 2021,
or the NORI Initial Assessment, and Technical Report Summary - TOML Mineral Resource, Clarion-Clipperton Zone, Pacific Ocean dated March 26,
2021, or the TOML Mineral Resource Statement, respectively, prepared by AMC Consultants Ltd., each of which is filed as an exhibit to
the registration statement to which this prospectus forms a part. We plan to continue to refine our resource estimate for the NORI and
TOML areas and better resolve the project economics. The initial assessment included in the NORI Initial Assessment Report is a conceptual
study of the potential viability of mineral resources in NORI Area D. This initial assessment indicates that development of the mineral
resource in NORI Area D is potentially technically and economically viable; however, due to the preliminary nature of project planning
and design, and the untested nature of the specific seafloor production systems at a commercial scale, economic viability has not yet
been demonstrated.

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 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 includes information that has been prepared in accordance with the requirements
of the SEC Mining Rules. Under SEC standards, mineralization, such as mineral resources, may not be classified