Company: TMCWW
Filing Date: 2025-04-08
Form Type: PRE 14A
Source: 0001104659-25-032724
Chunk: 62

Company: TMC the metals Co Inc.
Filing Date: 2025-04-08
Form: PRE 14A
Chunk 62
---
 2024 Credit Facility to December 31, 2025. On March 26, 2025, we entered into the Third Amendment to the 2024 Credit Facility with the 2024 Lenders, to, among other things, increase the borrowing limit to $44 million in the aggregate ($22 million from each of the 2024 Lenders) and extend the maturity of the 2024 Credit Facility to June 30, 2026. The Third Amendment also provides that the 2024 Lenders may extend the term of the 2024 Credit Facility by up to two additional one-year periods (until June 30, 2028 at the latest) and that the 2024 Lenders may terminate the 2024 Credit Facility upon certain company financings.

#### Gregory Stone Consulting Agreement
Gregory Stone, our Chief Ocean Scientist, regularly provides consulting services to us through Ocean Renaissance LLC (“Ocean Renaissance”), where he is a principal. Consulting services during

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each of the years ended December 31, 2024 and 2023 totaled $200,000 and $331,000, respectively. Mr. Stone is no longer an executive officer.

#### Stephen Jurvetson Consulting Agreement
On April 9, 2024, we entered into a consulting agreement with Mr. Jurvetson. The consulting agreement provides, among other things, that Mr. Jurvetson will serve as a special advisor to our Chief Executive Officer for a term of five years. As the sole compensation for his advisory services, Mr. Jurvetson was granted a stock option to purchase 3,440,000 common shares, with an exercise price equal of $1.71 and expiry period of seven years. The stock options were issued under the TMC Incentive Equity Plan, and shall vest in three equal annual installments on the first, second and third anniversary of the date of grant of the options provided that Mr. Jurvetson is still providing services to us at such time. Pursuant to the terms of the consulting agreement, Mr. Jurvetson waived his right to any compensation he may have been entitled to for serving on the board of directors, including under our non-employee director compensation policy.

**Robertsbridge and Brendan May Consulting Agreements**

On March 7, 2023, we entered into a consulting agreement with Robertsbridge Consultants Ltd, a consulting firm founded by Mr. May of which he is a director, which