Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 63

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 63
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 Shares, if (a) on any twenty (20) trading days                 
 within any thirty (30) trading day period, the Common Shares trade on the principal securities 
 exchange or securities market on which Common Shares are then traded for a price that is       
 greater than or equal to $12.00, or (b) there occurs any transaction resulting in a            
 Change of Control with a valuation of the Common Shares that is greater than or equal to       
 $12.00 per Common Share.                                                                       |

No fractional Common Share will be issued upon
the conversion of the Special Shares and no payment will be made to the holders of Special Shares in lieu thereof. Rather, the holders
of Special Shares shall be entitled to the number of Common Shares determined by rounding the entitlement down to the nearest whole number.

In the event that the Common Shares are at any
time sub-divided, consolidated, converted or exchanged for a greater or lesser number of shares of the same or another class, then appropriate
adjustments will be made in the rights and conditions attaching to the Special Shares so as to preserve in all respects the benefits
of the holders of Special Shares.

In the event of any merger, amalgamation, consolidation,
arrangement, reorganization or other business combination involving the Company with another entity, other than a Change of Control,
the holders of Special Shares will be entitled to receive, on conversion, such securities or other property as if on the effective date
of the event they were registered holders of the number of Common Shares which such holders of Special Shares were entitled to receive
upon conversion of their Special Shares.

<div align='center'>18

DESCRIPTION OF PREFERRED SHARES</div>

The following description of our preferred shares and the description of the terms of any particular series of preferred shares that we choose to issue hereunder are not complete. These descriptions are qualified in their entirety by reference tonotice of articles and
articles, both of which are included as exhibits to the registration statement of which this prospectus is a part.

We are authorized to
issue an unlimited number of preferred shares, issuable in series. Accordingly, the board of directors is authorized, without shareholder
approval but subject to the provisions of the BCBCA and notice of articles, to determine the maximum number of shares of each series,
create an identifying name for each series and attach such special rights or restrictions, including dividend, liquidation and voting
rights, as the board of directors may determine, and such special rights or restrictions, including dividend, liquidation and voting