The Metals Company Announces an Extensive Deep-sea Environmental Data Submission to the International Seabed Authority

Foraminifera from the NORI-D area

Macrofauna from NORI-D area

Nodule obligate fauna from the NORI-D area

• TMC’s subsidiary NORI submits data collected during two benthic baseline campaigns on the NORI-D area, adding more than 270,000 benthic biological occurrences to the International Seabed Authority’s ‘DeepData’ catalogue of contractor exploration data.
• This submission is part of a broader dataset of hundreds of terabytes of data collected by leading independent scientists and expert industry partners during 17 offshore environmental baseline and resource definition campaigns conducted by NORI over the last decade.
• Remaining baseline data and samples including geochemical samples and biological samples from the water column are being collated and categorized, with all data expected to be shared with the ISA in the coming months.
• The complete NORI-D dataset will be one of the most comprehensive datasets ever gathered in the CCZ and will form the basis of NORI’s Environmental Impact Statement, an integral part of the application to the International Seabed Authority for an exploitation contract in NORI-D area.

NEW YORK, March 28, 2023 (GLOBE NEWSWIRE) — TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or the “Company”), an explorer of the world’s largest estimated undeveloped source of critical battery metals, today announced that its subsidiary NORI had begun the process of submitting data collected during 17 offshore resource definition and environmental baseline campaigns in the NORI-D exploration area to DeepData, an open database of contractor data managed by the International Seabed Authority (ISA).

The submission of the initial batch of data, which includes an extensive set of biological samples and images from the seafloor, follows NORI’s decade-long research efforts to define the polymetallic nodule resource and develop an environmental baseline for its NORI-D exploration area, as part of its Environmental and Social Impact Assessment (ESIA) for the NORI-D Nodule Project. Since 2012, the Company has collaborated with leading industry experts and independent scientists from marine research institutions from around the world on its ESIA, gathering data throughout 17 offshore campaigns, representing over 470 operational research days on the NORI-D area.

Collected using a suite of high-tech equipment, the dataset submitted to the ISA includes over 1,400 biological samples from extensive boxcore and multicore sampling, and over 8,000 images analysed for benthic megafauna captured by Remotely Operated Vehicles from two offshore campaigns. This first submission of benthic data will provide a significant expansion to the biological holdings contained within the ISA’s ‘DeepData’ platform by contributing over 270,000 occurrences.

Dr Michael Clarke, Environmental Manager at The Metals Company, said: “There are over a quarter of a million data occurrences in the batch that has just been submitted to the ISA and yet, it is just the tip of the data iceberg collected by NORI to date. This and upcoming data submissions by NORI will help facilitate informed decision-making about the potential impacts of nodule collection operations based on actual environmental data rather than conjecture and speculation which has often dominated the conversation up to this point.”

The data-gathering efforts of the independent scientists involved in NORI’s ESIA program have already begun to yield novel insights about biodiversity, ecosystem processes and how we observe oceanic ecosystems with various papers in peer-reviewed journals.

Dr Adrian Glover, Merit Researcher at Natural History Museum London and benthic macrofauna research lead, commented: “Seven taxonomic papers are currently in preparation from the studies, including two already published” and “The new data from this first tranche of baseline data form the largest molecular-based assessment of quantitative macrofaunal box cores to date in the CCZ. Analysis of an additional 40 box cores is under way to be completed by August 2023.”

Contributions from ROV imagery and specimens collected during NORI-D pelagic campaigns have assisted in resolving diagnostic characteristics of hydrozoans (related to jellyfish). The novel use of the Saildrone ASV (autonomous surface vehicle) to examine micronekton in the open ocean provides some of the only remote sampling of pelagic prey communities in the eastern Pacific Ocean. Such studies are essential to describing the interactions between mesoscale features and pelagic fauna to help understand how these communities will respond to a changing ocean environment that may be induced by nodule collection activities and broader climate-related shifts.

Over the coming months, NORI will continue working with research teams to fully collate and categorize the hundreds of terabytes of data and thousands of biological samples that have been collected to date. The total NORI-D dataset is expected to be one of the most comprehensive datasets ever compiled in the deep sea. Given the breadth of the dataset, NORI expects numerous further papers to be published in peer-reviewed journals in the coming months and years, adding significantly to society’s understanding of the deep sea.

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 clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. 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. The forward-looking statements contained in this press release include, without limitation, statements regarding the submission and review of our data collected during two benthic baseline campaigns on the NORI-D areas well as the remaining baseline data and samples, including geochemical samples and biological samples from the water column, currently being collated and categorized by TMC. 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 TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the Clarion Clipperton Zone and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; 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 TMC may recover; risks associated with collection, development and processing polymetallic nodules; risks associated with TMC’s limited operating history;; risks associated with TMC’s intellectual property and the validity, use and ownership of any new technology or intellectual property subsisting therein; and other risks and uncertainties indicated from time to time in the Company’s Form 10K, dated and filed with the U.S. Securities and Exchange Commission (SEC) on March 27, 2023, including those under “Risk Factors” therein, and in TMC’s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC 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.

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