March 27, 2026 25 45 70 •‧‧‧‧‧‧‧‧••‧‧‧••‧‧•‧ The Metals Company (Nasdaq: TMC) – Unlocking the World's Largest Undeveloped Resource of Metals for Energy, Defense, Manufacturing and Infrastructure 2 Nasdaq: TMC Forward looking statements. 0 145 255 253 226 83 169 170 174 249 50 0 115 175 210 Master Headline | Arial 25, Bold Headline | Arial 21, Bold BLUE SUBHEAD | Arial 12, all caps Subhead | Arial 16, Bold Body Copy | Arial 14 For Bullets, use - 115 175 210 25 45 70 0 145 255 253 226 83 169 170 174 249 50 0 ...

Group 1: Industry Overview - The International Energy Agency (IEA) reported in 2021 that demand for critical minerals like cobalt, lithium, and copper will exceed mining production by 2030, highlighting the concentration of control in countries like China [1] - As of now, China continues to dominate the supply of critical minerals, with increasing demand driven by electric vehicles, renewable energy, data center construction, and battery storage [2] Group 2: Company Focus - TMC The Metals Company - TMC The Metals Company (NASDAQ: TMC) is positioned as a crucial player for the U.S. government due to the lack of strategic control over the critical mineral supply chain and an impending supply gap [3] - TMC aims to harvest poly metallic rocks, known as nodules, from the Pacific Ocean, which contain essential ingredients for electric car batteries [4] - The company plans to utilize a robotic vacuum to collect these nodules, process them into battery-grade metals, and sell them to battery manufacturers [5] Group 3: Regulatory Environment - The deep-sea mining process TMC is pursuing is unprecedented, with no established regulatory framework for approval, leading to delays due to environmental concerns [6] - TMC may leverage a U.S. mining law that allows it to pursue deep-sea mining outside the International Seabed Authority (ISA) process, as the U.S. is not a member of the ISA [7] - An executive order by President Trump last year expedited the deep-sea mining approval process, allowing TMC to be the first company to have its consolidated application approved under this new framework [8]

FORM F-1 TABLE OF CONTENTS REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 As filed with the Securities and Exchange Commission on March 13, 2026 Registration No. 333-293837 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to 1040 The Metals Royalty Company Inc. (Exact name of registrant as specified in its charter) British Columbia, Canada (State or other jurisdiction of (Primary Standard Industrial Classification Code Number) 1900 Dome Tower 333 7 Ave SW th C ...

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on February 27, 2026 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 The Metals Royalty Company Inc. (Exact name of registrant as specified in its charter) 1040 British Columbia, Canada (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) 1900 Dome Tower 333 7 Av ...

Group 1: Critical Minerals Investment Theme - The investment theme of critical minerals is gaining traction among growth investors, particularly in the context of rare-earth companies and metal producers that support advanced technologies [1] - The focus is on identifying mineral stocks that offer significant opportunities for personal wealth building [1] Group 2: USA Rare Earth - USA Rare Earth is set to debut on public markets in March 2025 after merging with a special purpose acquisition company (SPAC) and aims to become a vertically integrated provider of rare-earth magnets [5] - The company’s Round Top deposit contains 15 of the 17 rare-earth elements, including all heavy rare-earth elements, setting it apart from other U.S. rare-earth companies [5] - A recent letter of intent (LOI) with the U.S. government includes a planned investment of $1.6 billion in equity, which mitigates previous risks related to the Round Top project [6] - With the U.S. government focused on strengthening domestic supply chains for rare-earth materials, USA Rare Earth presents a promising opportunity for investors as it prepares for commercial-scale production in Q1 2026 [7] Group 3: TMC The Metals Company - TMC The Metals Company is targeting the production of copper, cobalt, nickel, and manganese, which are essential for various applications, including defense and technology [8] - The company plans to harvest polymetallic nodules from the seafloor, which contain the aforementioned metals, and transport them for processing [9] - TMC has formed a partnership with Korea Zinc, which includes an equity investment and collaboration on refining metals from the recovered nodules [9]

Core Viewpoint - TMC the metals company Inc. experienced a significant decline of 17.69% in stock price, closing at $7.77, as investors engaged in profit-taking while awaiting updates on its deep-sea mining application in the Clarion Clipperton Zone (CCZ) [1][4]. Group 1: Company Developments - TMC submitted an application to the National Oceanic and Atmospheric Administration (NOAA) for an exploration license and a commercial recovery permit, expanding its coverage area in the CCZ from 25,000 square kilometers to 65,000 square kilometers [2]. - The new application is described as a culmination of over a decade of scientific, engineering, and environmental work, aiming to establish a critical minerals project with an estimated 800 million tonnes of nodules containing high-grade nickel, copper, cobalt, and manganese [3]. - TMC's Chairman and CEO, Gerard Barron, emphasized that the application reflects the project's maturity and readiness for commercial operations under the US regulatory framework [4]. Group 2: Regulatory and Market Context - TMC, originally a Canadian company, faced criticism from members of the International Seabed Authority (ISA) for allegedly bypassing Canada in its submission to the US, although the company defended its actions by stating the submission was made through its US subsidiary [5].

Group 1 - TMC the metals company Inc. (NASDAQ:TMC) experienced a significant stock increase of 13.46%, closing at $9.44, following its application for exploration approval in the Clarion Clipperton Zone (CCZ) [1][2] - The company aims to secure an exploration license and a commercial recovery permit for polymetallic nodules, covering an area of approximately 65,000 square kilometers, which is an expansion from a previous application of 25,000 square kilometers in April 2025 [2] - TMC's Chairman and CEO, Gerard Barron, highlighted that the new application is the result of over a decade of scientific and engineering work, estimating over 800 million tonnes of nodules containing high-grade nickel, copper, cobalt, and manganese, with metal grades of approximately 3.2% nickel equivalent and 7% copper equivalent [3][4]

Core Insights - Rising geopolitical trade tensions have highlighted the importance of critical minerals and rare-earth elements for national security and energy independence [2] - TMC The Metals Company aims to meet the growing demand for domestically sourced critical minerals through deep-sea mining of polymetallic nodules [3][5] - The stock of TMC has experienced significant volatility, surging as much as 1,576% from its low last year due to increased investor interest in rare-earth companies [3] Industry Overview - Deep-sea mining is positioned as a potential new frontier for sourcing critical minerals, with TMC targeting the Clarion-Clipperton Zone for polymetallic nodules rich in nickel, copper, cobalt, and manganese [5][6] - The seabed mining industry could play a crucial role in building domestic reserves of critical minerals, as highlighted by TMC's CEO during a testimony to the U.S. House Committee on Natural Resources [6] Regulatory Environment - TMC faces significant regulatory hurdles before commencing deep-sea mining operations, including the need to obtain necessary permits [7][9] - An executive order signed by U.S. President Donald Trump emphasizes the administration's commitment to developing a domestic supply of critical minerals and aims to expedite the permitting process under the Deep Seabed Hard Mineral Resources Act [8]

Company Overview - TMC The Metals Company (NASDAQ: TMC) is a deep-sea mining specialist aiming to become a major mineral-sourcing player, having gone public through a SPAC merger in 2021 [1] - The company's share price has decreased by 15.5% since its market debut, despite a significant rally of 627% over the last year [2][4] - TMC is currently in a pre-revenue state, focusing on tests and obtaining regulatory approvals necessary for commercial operations [2] Industry Context - The U.S. heavily relies on China for mineral sourcing, particularly for rare-earth minerals, creating economic and national security concerns amid deteriorating U.S.-China relations [3] - TMC's strategy primarily involves collecting nodules containing base minerals, but there is growing investor interest in its potential to enter the rare-earth minerals market [4] Competitive Landscape - Kraken Robotics (OTC: KRKN.F) is highlighted as a company with exposure to the deep-sea mining space, providing technologies that could help reduce reliance on Chinese mineral sourcing [5] - Kraken specializes in deep-sea battery systems and synthetic aperture sonar (SAS), enabling uncrewed underwater vehicles (UUVs) to operate at significant depths and for extended periods [6] - The demand outlook for Kraken's technologies in deep-sea mining appears promising, contrasting with TMC's current pre-revenue status [7]

Core Viewpoint - TMC the metals company Inc. is experiencing positive market performance due to progress in its request for deep-sea exploration in international waters, with a notable stock price increase of 4.24% to $7.62 per share [1]. Group 1: Company Developments - TMC's submission for deep-sea mining activities will be formally reviewed by the US government next month, despite criticisms from the International Seabed Authority regarding the company's Canadian origins [2]. - The company, through its US subsidiary, has expressed intentions to mine in international waters, leveraging the US's non-membership in the International Seabed Authority [3]. - TMC argues that the International Seabed Authority does not have exclusive regulatory authority over seabed mining, citing existing claims outside of the United Nations Convention on the Law of the Sea (UNCLOS) [4].