TMC TMC the Metals Company Inc

TMC The Metals Company Inc. (“TMC” or “The Metals Company”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced that the District Court of Amsterdam in the Netherlands has issued a court order requiring Greenpeace International (“Greenpeace”) to disembark from the research vessel, MV Coco, with immediate effect. The vessel is currently undertaking environmental and scientific studies as part of its subsidiary Nauru Ocean Resources Inc (NORI)’s Environmental and Social Impact Assessment.

Since disruptions began on November 23, Greenpeace’s unsafe and unlawful activities have hindered independent scientists from leading marine research institutions around the world in conducting environmental and scientific studies to assess ecosystem function and recovery one year on from NORI’s integrated collector test. Upon notification of the court order, Greenpeace have promptly complied with the order and have disembarked the vessel.

TMC CEO & Chairman Gerard Barron commented: “We are pleased with today’s court opinion. We respect Greenpeace’s right to peaceful protest and expression of opinions. However, our foremost responsibility is to ensure the safe continuance of our legally-mandated operations, and the safety of all those involved. Greenpeace are free to protest from a safe distance and to assert their opinion, but theirs is not the only one that matters and we will continue to gather the important scientific data that all ISA members have requested for informed decision-making.”

The court-ordered penalties were issued to compel Greenpeace to comply with the order, and TMC and NORI retain their legal rights to pursue compensation for any financial losses incurred due to Greenpeace’s actions.

The exploration contract granted to The Metals Company’s (TMC) subsidiary NORI by the International Seabed Authority (ISA) legally requires NORI to conduct environmental and scientific research, studies which are contributing to society’s collective knowledge of the deep ocean. All of the ISA’s 168 Member States plus the European Union have stated that any decision must be based on evidence and data and they have called for more scientific research on the impacts of collecting polymetallic nodules from atop the seafloor.

TMC remains dedicated to collaboration and dialogue with all stakeholders, including environmental groups, as our CEO stated in a recent open letter to the ocean conservation community. NORI will continue its pioneering work to collect and openly share this important data with the world to enable informed decision-making.

About The Metals Company

The Metals Company is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the global energy transition with the least possible negative impacts on planet and people and (2) trace, recover and recycle the metals we supply to help create a metals commons that can be used in perpetuity. The Company through its subsidiaries holds exploration and commercial rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga.

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Forward Looking Statements

Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, including related to: the Company’s expectations with respect to filing an application for an exploitation contract with the ISA and the timing and content thereof and the actions of Greenpeace International and the potential impact these actions may have on the Company. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the risk that Greenpeace International does not promptly comply with the order of the Court; the risk that Greenpeace International’s, or any other group’s, activities continue to disrupt the Company’s operations; the Company’s strategies and future financial performance; the ISA’s ability to timely adopt the final mining regulations and/or willingness to review and/or approve a plan of work for exploitation under the United Nations Convention on the Laws of the Sea (UNCLOS); the Company’s ability to obtain exploitation contracts or approved plans of work for exploitation for its areas in the CCZ; regulatory uncertainties and the impact of government regulation and political instability on the Company’s resource activities; changes to any of the laws, rules, regulations or policies to which the Company is subject, including the terms of the final mining regulations, if any, adopted by ISA and the potential timing thereof; the impact of extensive and costly environmental requirements on the Company’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; the Company’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; the Company’s ability to successfully enter into binding agreements with Allseas Group S.A. and other parties in which it is in discussions, if any; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that the Company may recover; risks associated with collective, development and processing operations, including with respect to the development of onshore processing capabilities and capacity and Allseas Group S.A.’s expected development efforts with respect to the Project Zero offshore system; the Company’s dependence on Allseas Group S.A.; fluctuations in transportation costs; fluctuations in metals prices; testing and manufacturing of equipment; risks associated with the Company’s limited operating history, limited cash resources and need for additional financing; risks associated with the Company’s intellectual property; Low Carbon Royalties’ limited operating history; and other risks and uncertainties, including those under Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, filed by the Company with the Securities and Exchange Commission (“SEC”) on March 27, 2023, as updated and/or supplemented by the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, filed with the SEC on August 14, 2023, the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, filed with the SEC on November 9, 2023, this press release and in the Company’s other future filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8e834674-527b-46ab-858d-ee985d475c82