Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 137

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 137
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 that does not materially adversely affect the interests of any holder of debt securities 
 of any series issued pursuant to such indenture.                                                            |

In addition, under the indentures, the rights
of holders of a series of debt securities may be changed by us and the debenture trustee with the written consent of the holders of at
least a majority in aggregate principal amount of the outstanding debt securities of each series (or, at a meeting of holders of such
series at which a quorum is present, the holders of a majority in principal amount of the debt securities of such series represented at
such meeting) that is affected. However, the debenture trustee and we may make the following changes only with the consent of each holder
of any outstanding debt securities affected:

| · | extending the fixed maturity of the series of debt securities; |

| · | reducing the principal amount, reducing the rate of or extending the time of payment of interest, or any 
 premium payable upon the redemption of any debt securities;                                              |

| · | reducing the principal amount of discount securities payable upon acceleration of maturity; |

| · | making the principal of or premium or interest on any debt security payable in currency other than that 
 stated in the debt security; or                                                                         |

| · | reducing the percentage of debt securities, the holders of which are required to consent to any amendment 
 or waiver.                                                                                                |

Except for certain specified provisions, the holders
of at least a majority in principal amount of the outstanding debt securities of any series (or, at a meeting of holders of such series
at which a quorum is present, the holders of a majority in principal amount of the debt securities of such series represented at such
meeting) may on behalf of the holders of all debt securities of that series waive our compliance with provisions of the indenture. The
holders of a majority in principal amount of the outstanding debt securities of any series may on behalf of the holders of all the debt
securities of such series waive any past default under the indenture with respect to that series and its consequences, except a default
in the payment of the principal of, premium or any interest on any debt security of that series or in respect of a covenant or provision,
which cannot be modified or amended without the consent of the holder of each outstanding debt security of the series affected; provided,
however, that the holders of a majority in principal amount of the outstanding debt securities of any series may rescind an acceleration
and its consequences, including any related payment default that