Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 127

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 127
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h) 24,999,860 Class H Special Shares, (i) 500,000
Class I Special Shares and (j) 741,000 Class J Special Shares.

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Holders of Special Shares are not entitled to
any voting rights, except as required under the BCBCA in certain circumstances, and are not entitled to receive dividends. Subject to
the prior rights of the holders of preferred shares, in the event of our liquidation, dissolution or winding-up or other distribution
of our assets among our shareholders, the holders of Special Shares will be entitled to receive an amount equal to $0.00000000001 per
Special Share, or the Redemption Price. Holders of Special Shares have no pre-emptive or exchange rights or other subscription rights.
There is no provision in our notice of articles and articles requiring holders of Special Shares to contribute additional capital. The
special rights or restrictions attached to Special Shares are subject to and may be adversely affected by, the rights attached to any
series of preferred shares that the board of directors may designate in the future. Our notice of articles and articles provide that the
Special Shares may not be, directly or indirectly, sold, transferred, assigned, pledged, mortgaged, exchanged, hypothecated or encumbered
without the prior approval of the board of directors, which shall only be given under certain circumstances specified in our notice or
articles and articles, referred to herein as a Permitted Transfer. Notwithstanding the foregoing, any holder of Special Shares may, at
any time, provide an irrevocable direction and agreement in favor of us that a proposed transfer shall be deemed not to be a Permitted
Transfer and that irrevocable direction may provide that any other Permitted Transfer shall require that the transferee provide an identical
type of irrevocable direction and agreement.

Subject to the provisions of the BCBCA, any Special
Shares then outstanding shall be redeemed by us without any action on the part of the holders of Special Shares (i) at any time after
the 15th year anniversary of the original issue date of the Special Shares or (ii) at any time after a Change of Control, in each
case at the Redemption Price. For the purposes of our notice of articles and articles, “Change of Control” shall mean any
transaction or series of related transactions (x) under which any person or one or more persons that are affiliates or that are acting