Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 114

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 114
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 generations
to come. Significant quantities of newly mined metal are required because existing metal stocks are insufficient to meet rapidly rising
demand.

Exploration and exploitation of seabed minerals
in international waters is regulated by the International Seabed Authority, or the ISA, an intergovernmental organization established
pursuant to the 1994 Agreement Relating to the Implementation of the United Nations Convention on the Law of the Sea, or UNCLOS. The ISA
grants contracts to sovereign states or to private contractors who are sponsored by a sovereign state. The ISA requires that a contractor
obtain and maintain sponsorship by a host nation that is a member of the ISA and signatory to UNCLOS, and that such nation maintains effective
supervision and regulatory control over such sponsored contractor. The ISA has issued a total of 19 polymetallic nodule exploration contracts
covering approximately 1.28 million km, or 0.4% of the global seafloor, 17 of which are in the CCZ. We hold exclusive exploration
and commercial rights to three of the 17 polymetallic nodule contract areas in the CCZ through our subsidiaries Nauru Ocean Resources
Inc., or NORI, and Tonga Offshore Mining Limited, or TOML, sponsored by the Republic of Nauru and the Kingdom of Tonga, respectively,
and exclusive commercial rights through our subsidiary, DeepGreen Engineering Pte. Ltd.’s, arrangement with Marawa Research and
Exploration Limited, a company owned and sponsored by the Republic of Kiribati.

We are still in the exploration phase and have
not yet obtained any exploitation contracts from the ISA to commence commercial scale polymetallic nodule collection in the CCZ nor do
we have the applicable environmental and other permits required to build and/ or operate commercial-scale polymetallic nodule processing
and refining plants on land.

We are currently focused on preparing to submit
our application to the ISA for our first exploitation contract for the NORI Area D contract area following the July 2024 meetings
of the ISA’s twenty-ninth session. To reach our objectives and initiate commercial production, if our potential application is approved,
we are: (i) defining our resource and project economics, (ii) developing a commercial offshore nodule collection system, (iii) assessing
the environmental and social impacts of offshore nodule collection, and (iv) developing onshore technology to process collected polymetallic
nodules into a manganese silicate product, and an intermediate