Company: TMCWW
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001104659-25-047372
Chunk: 164

Company: TMC the metals Co Inc.
Filing Date: 2025-05-12
Form: 424B5
Chunk 164
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Subject to applicable limitations, non-refundable
Canadian income taxes withheld from dividends on Common Shares at a rate not exceeding the rate provided by the applicable treaty with
the United States will be eligible for credit against the U.S. treaty beneficiary’s U.S. federal income tax liability. The rules governing
foreign tax credits are complex and U.S. Holders are urged to consult their tax advisers regarding the creditability of foreign taxes
in their particular circumstances. In lieu of claiming a foreign tax credit, a U.S. Holder may deduct foreign taxes, including any Canadian
income tax, in computing their taxable income, subject to generally applicable limitations under U.S. law. An election to deduct foreign
taxes instead of claiming foreign tax credits applies to all foreign taxes paid or accrued in the taxable year.

Sale, Taxable Exchange or Other Taxable Disposition of Common Shares and Public Warrants

Subject to the PFIC rules discussed
below under the heading “- Passive Foreign Investment Company Rules,” upon any sale, exchange or other taxable
disposition of Common Shares or public warrants, a U.S. Holder generally will recognize gain or loss in an amount equal to the
difference between (i) the sum of (x) the amount cash and (y) the fair market value of any other property, received
in such sale, exchange or other taxable disposition and (ii) the U.S. Holder’s adjusted tax basis in such Common Shares
or public warrants, in each case as calculated in U.S. dollars. If a U.S. Holder acquired such Common Shares or public warrants as
part of a unit, the adjusted tax basis in the Common Shares or public warrants will be the portion of the acquisition cost allocated
to the shares or warrants, respectively, or if such Common Shares were received upon exercise of public warrants, the initial basis
of the Common Shares upon exercise of public warrants (generally determined as described below under the heading “- Tax Consequences of Ownership and Disposition of Common Shares and Public Warrants - Exercise or Lapse of a Public Warrant”).
Any such gain or loss generally will be capital gain or loss and will be long-term capital gain or loss if the U.S. Holder’s
holding period for such Common Shares or public warrants exceeds one (1) year. Long-term capital gain realized by a
non-corporate U.S. Holder generally will be taxable at a reduced rate. The deduction of capital losses is subject to limitations.
This