Financial Data and Key Metrics - The company reported a net loss of approximately $12.5 million or $0.04 per share in Q3 2023, compared to a net loss of $27.9 million or $0.12 per share in Q3 2022 [33] - Exploration and evaluation expenses decreased to $7.9 million in Q3 2023 from $22.7 million in Q3 2022, primarily due to reduced environmental study spending and completion of the pilot mining test system [33] - General and administrative expenses were $4.6 million in Q3 2023, down from $5.9 million in Q3 2022, reflecting lower share-based compensation and insurance costs [34] - Free cash flow for Q3 2023 was negative $12.6 million, compared to negative $9.1 million in Q3 2022 [35] - The company held $22.5 million in cash as of September 30, 2023, with total pro forma liquidity standing at $56 million, including expected additional capital raise proceeds and an undrawn $25 million credit facility [36] Business Line Updates - The company has made significant progress on pre-feasibility work and the environmental impact statement for the NORI D Area, key prerequisites for the exploitation contract application [3] - The expected maximum capacity of the Hidden Gem vessel has been upgraded to 3 million wet tons of nodules per year, a 130% increase from the previous estimate of 1.3 million wet tons per year [10] - Pacific Metals Co (PAMCO) in Japan has validated that seafloor nodules can be processed through their current facility, producing intermediate products that align with the company's specifications [11] - The company expects to complete the pre-feasibility study in the first half of 2024, which will inform the application for an exploitation contract over the NORI D Area [11] Market and Regulatory Updates - The company has been sharing environmental data with stakeholders worldwide, including presentations at the recent ISA Meeting in Jamaica, where the data was well-received [4] - The ISA member states are working on streamlining regulatory tax into one document, with progress expected over the next two scheduled ISA meetings [5] - The company has a pro forma liquidity position of roughly $56 million, including $9 million expected from additional capital raise proceeds, $22.5 million in cash, and a $25 million undrawn credit facility [6] - The company's NORI and TOML projects are ranked as the largest undeveloped nickel projects in the world, with a nickel equivalent grade that stands apart from other resources [7] Strategic Direction and Industry Competition - The company is focused on delivering its mission with a capital-light approach, leveraging existing facilities like PAMCO in Japan for initial production [9] - The company's NORI D project outperforms all analyzed land-based production routes for nickel and copper and most for cobalt, according to a lifecycle assessment by Benchmark Minerals [14] - The company has developed a comprehensive set of sustainability goals and is engaging stakeholders for feedback to refine and finalize a robust set of targets and KPIs [17][18] Management Commentary on Operating Environment and Future Outlook - The company is encouraged by the progress at the ISA and the positive commentary from the ISA Secretary General on the close-to-final form of the regulations [28] - The company maintains its guidance on the intention to launch an application for an exploitation contract over the NORI D Area following the July 2024 ISA meeting [29] - The company believes its liquidity will be sufficient to meet working capital and capital expenditure requirements for the next 12 months [37] Other Important Information - The company has published its Second Annual Impact Report, examining the full scope of existing and future potential impacts, including lifecycle comparisons versus land-based resources [5] - The company has executed a complex three-desal campaign and continues to build upon its rich deep-sea dataset, with eight peer-reviewed papers published and many more to come [15] - The company has advanced its industry-first digital twin, DPE, in collaboration with Kongsberg Digital, bringing AI and hybrid machine learning to future deep-sea nodule collection operations [15] Q&A Session Summary Question: Regulatory concerns and potential delays - The company noted that 23 ISA member states have expressed reservations, but the majority continue to work on finalizing robust regulations [39] - The company believes that the legal obligation to deliver the mining code is not up for debate and expects more states to support the regulations as they near finalization [43] Question: Timing of profitability - The company expects to provide more detail on the economic model and profitability timeline with the release of the pre-feasibility study results in the first half of 2024 [44] Question: Processing of nodules sent to Japan - The 22 tons of nodules delivered to PAMCO in Japan have been used to demonstrate the viability of processing through existing facilities, while the remaining 2,980 tons are being used for testing and sharing with potential strategic partners [46][47] Question: Timing of additional capital raise - The $9 million capital raise is expected to be completed in staggered amounts, with $2.5 million expected by the end of November and the remaining $6.5 million in January [48] Question: China's potential illegal mining activities - The company views China's engagement with the ISA as constructive and does not speculate on potential illegal activities [49] Question: Post-collection test campaign - The company is not disclosing specific timing for the post-collection test campaign for security reasons but expects initial results to be available by the end of Q1 2024 [50][51] Question: China's potential application submission - The company believes it is unlikely for China or any other contractor to submit an application within several years due to the prerequisite of having at least three-plus years of environmental baseline data [52] Question: Cost of additional offshore campaign - The cost of the additional offshore campaign is within the company's guidance and is expected to be covered by the capital raise proceeds [53]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) British Columbia, Canada Not Applicable (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or For the transition period from to TMC THE METALS COMPANY INC. ☐ TR ...

metals company The Metals Company Q2 2023 Corporate Update: Unlocking the World's Largest Estimated Undeveloped Source of Battery Metals August 14, 2023 Forward looking statements. This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that relate to future events, TMC the metals company Inc.'s ("TMC" or the "Company") future operations and financial performance, ...

TMC the metals company Inc. (NASDAQ:TMC) Q2 2023 Results Earnings Conference Call August 15, 2023 4:30 PM ET Company Participants Craig Shesky - Chief Financial Officer Gerard Barron - Chairman and Chief Executive Officer Conference Call Participants Dmitry Silversteyn - Water Tower Research Malcolm McDonald - Bank of America Securities Frank Jones - Norbury Partners Operator Good day. And welcome to The Metals Company Second Quarter 2023 Corporate Update Conference Call. At this time, all participants are ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39281 TMC THE METALS COMPANY INC. (Exact name of registrant as specified in its charter) British Columbia, Can ...

TMC the metals company Inc. (NASDAQ:TMC) Q1 2023 Earnings Conference Call May 11, 2023 4:30 PM ET Company Participants Craig Shesky - Chief Financial Officer Gerry Barron - Chairman & Chief Executive Officer Conference Call Participants Dmitry Silversteyn - Water Tower Research Malcolm McDonald - BAML Frank Jones - Norbury Partners Operator Good day and thank you for standing by. Welcome to The Metals Company First Quarter 2023 Corporate Update Conference Call. At this time, all participants are in a listen ...

| --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|--------------------------------------|-------|---------------------------------------------------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Undeveloped Source of Battery Metals | | The Metals Company Q1 2023 Corporate Update: Unlocking the World's Largest Estimated | | | Forward looking statements. This presentation contains ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or For the transition period from to Commission File Number: 001-39281 TMC THE METALS COMPANY INC. (Exact name of registrant as specified in its charter) British Columbia, Canada Not Applicable (State or other jurisdiction of incorporation or organization) (IRS Employer Iden ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-39281 TMC THE METALS COMPANY INC. (Exact name of registrant as specified in its charter) British Columbia, Canada ...

metals company The Metals Company Q4 and FY 2022 Corporate Update Call: Unlocking the World's Largest Estimated Undeveloped Source of Battery Metals 23 March 2023 Forward looking statements. This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that relate to future events, TMC the metals company Inc.'s ("TMC" or the "Company") future operations and financial per ...