Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 176

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 176
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 length (for the                   
 purposes of the Tax Act), (c) partnerships in which the Non-Resident Holder or a person described in (b) holds an interest directly 
 or indirectly through one or more partnerships, or (d) any combination of persons or partnerships described in (a) to (c), owned    
 25% or more of the issued shares of any class or series of our capital stock; and                                                   |

| 2. | more than 50% of the fair market value of the Common Shares was derived directly or indirectly from one or any combination of: (a) real 
 or immovable properties situated in Canada; (b) “Canadian resource properties” (as defined in the Tax Act); (c) “timber                 
 resource properties” (as defined in the Tax Act); and (d) options in respect of, or interests in, or for civil law rights in,           
 any of the foregoing property, whether or not the property exists.                                                                      |

NOTWITHSTANDING THE FOREGOING, IN CERTAIN CIRCUMSTANCES SET OUT IN THE TAX ACT, COMMON SHARES AND PUBLIC WARRANTS MAY BE DEEMED TO BE TAXABLE CANADIAN PROPERTY. NON-RESIDENT HOLDERS WHOSE COMMON SHARES OR PUBLIC WARRANTS MAY CONSTITUTE TAXABLE CANADIAN PROPERTY SHOULD CONSULT THEIR OWN TAX ADVISORS.

<div align='center'>43

LEGAL MATTERS</div>

Fasken Martineau DuMoulin LLP, or Fasken, has
passed upon the validity of the securities offered by this prospectus and certain other legal matters related to Canadian law. Mintz,
Levin, Cohn, Ferris, Glovsky and Popeo, P.C., or Mintz, has passed upon the validity of certain other legal matters. Fasken and Mintz
own 14,630 and 36,361 Common Shares, respectively.

<div align='center'>EXPERTS</div>

The financial statements of TMC the metals company
Inc. as of December 31, 2022 and 2021 and for the years then ended have been incorporated by reference herein and in the registration
statement in reliance on the report of Ernst & Young LLP, independent registered public accounting firm, incorporated by reference
herein, and upon the authority of said firm as experts in accounting and auditing.

<div align='center'>WHERE YOU CAN FIND MORE INFORMATION</div>

We have filed a registration statement on Form S-3,
including exhibits, under