Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 7

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 7
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 tonnes of copper, 2.0 million tonnes of cobalt, and 345 million tonnes of manganese.

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These applications reflect our belief that DSHMRA provides a viable and independent regulatory path to commercial production, distinct from the ISA regime under UNCLOS. We also welcomed the recent Executive Order signed by President Trump on April 24, 2025, titled
“Unleashing America’s Offshore Critical Minerals and Resources”, which directs the Commerce Secretary to implement
an expedited permitting process under DSHMRA. In addition to directing the International Development Finance Corporation, Export-Import
Bank and Trade and Development Agency to identify tools to support this new industry, the Executive Order also instructs the Departments
of Defense and Energy to assess the use of the National Defense Stockpile for nodule-derived minerals and of entering into offtake agreements
for the procurement of these minerals. In addition, these departments are also directed to review and revise domestic processing capabilities
for seabed mineral resources.

At the same time as we pursue the U.S. pathway, we continue to preserve our rights under the ISA system. The ISA is an intergovernmental organization established pursuant to UNCLOS and the 1994 Agreement Relating to the Implementation of UNCLOS and regulates seabed mineral activities by its member states and their sponsored contractors. While the ISA does not have jurisdiction over U.S.-based operations, we maintain two exploration contracts in the CCZ—one held by our subsidiary Nauru Ocean Resources Inc., or NORI, sponsored by the Republic of Nauru, and one held by Tonga Offshore Mining Limited, or TOML, sponsored by the Kingdom of Tonga. The ISA has issued a total of 19 exploration contracts covering approximately 1.28 million square kilometers, 17 of which are located in the CCZ.On November 12,
2024, we announced our intention to submit an application for an exploitation contract to the ISA on June 27, 2025. Today, we are
increasingly focused on pursuing commercial production through the U.S. regulatory pathway under DSHMRA, following the April 2025
submission of TMC USA’s exploration license and commercial recovery permit applications to NOAA. We do not believe pursuing licenses
and permits with NOAA under DSHMRA nullifies our ISA exploration contracts. However, if ISA progress on adopting final exploitation regulations
stalls or the resulting regulations prove commercially or legally unworkable, we may pivot