Tmc The Metals Company Inc. · NASDAQ:TMC
Tmc The Metals — The Metals Company — Investor Presentation (May 2024)
25 slides from Tmc The Metals's investor presentation, May 2024
Slide 1: Unlocking the World's Largest Estimated Undeveloped Source of Battery Metals
The Metals Company (Nasdaq: TMC) – Unlocking the World’s Largest Estimated Undeveloped Source of Battery Metals May 2024
Slide 2: Forward looking statements
2 Nasdaq: TMC 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.
Slide 3: Why explore the seafloor?
3 Nasdaq: TMC Why explore the seafloor? That’s where most of the planet’s nickel, cobalt & manganese is. Nickel Cobalt Manganese Million metric tons Million metric tons Million metric tons 94 306 7,706 95 Indonesia - 21 Australia - 20 1,504 Russia - 7 Brazil - 16 DRC 3.6 Australia 230 RSA 520 Cuba -
Slide 4: Why nodules?
Why nodules? Polymetallic Far offshore Very deep One new nodule project Far away from people, The deeper you go, can replace three new mines no physical impact on the less life you will find. on land. communities. Unattached Portable No tailings, near No overburden to remove, no Once nodules are tra
Slide 5: Nodule composition is well suited for battery metal needs
5 Nasdaq: TMC Nodule composition is well suited for battery metal needs. Metal Metal contained value1 MANGANESE requirements 6.6 kg 7.1 kg 28% COBALT 11% 56 kg NICKEL 43% POLYMETALLIC SEAFLOOR NODULE 53 kg ELECTRIC CAR 18% COPPER 75kWh battery with NMC811 chemistry 1 Contained metal value of polymet
Slide 6: Nodule composition is also well suited for infrastructure, defense and energy transition
6 Nasdaq: TMC Nodule composition is also well- suited for infrastructure, defense and the energy transition in general.
Slide 7: TMC estimated resource alone has the potential to supply U.S. demand
7 Nasdaq: TMC TMC estimated resource alone has The Metals Company the potential to supply U.S. demand for nickel, cobalt and manganese. 15,700,000 t Ni / 2,400,000 t Co / 13,300,000 t Cu / 350,000,000 t Mn Total Resource Estimated In situ quantities of nickel, copper, cobalt and manganese equivalent
Slide 8: TMC ranked #1 and #2 largest undeveloped nickel projects
8 Nasdaq: TMC TMC: ranked in 2022 and 2023 as #1 and #2 largest undeveloped nickel projects on the planet1; the high- grade alternative to Russian- and Chinese-funded supply. World’s largest nickel projects – 2023 World’s largest nickel operations ranked by resource Total est. resources (inferred, i
Slide 9: Recent media coverage notes impacts are relatively low
9 Nasdaq: TMC Recent media coverage notes impacts are relatively low, and that commercial operations are inevitable. Contractors like The Metals Company ‘It’s time to mine the seabed’: “Clearly now, we are reaching — the only firm to test a full deep-sea Getting nickel from the deep a very high leve
Slide 10: Recent headlines point to increasing U.S. interest
10 Nasdaq: TMC Recent headlines point to increasing U.S. interest in and prioritization of marine minerals to support national and energy security. U.S Lawmakers Push for Deep-Sea Mining Former National Security, Defense Officials Funding in New Bill Push for Ratification of UN Treaty to Boost Mar 2
Slide 11: Technical resource statements issued on NORI + TOML
11 Nasdaq: TMC TMC: technical resource statements issued on NORI + TOML, with an in situ estimated resource of Ni, Cu, Co and Mn sufficient to electrify the entire U.S. passenger car fleet1. TMC exploration contract area NORI2 TOML3 Marawa Sponsoring Republic of Kingdom of Republic of State Nauru To
Slide 12: Milestone progress on the NORI-D Project
12 Nasdaq: TMC Milestone progress: we are doing what we said we’d do on the NORI-D Project. What we said we’d do What we have already done Key remaining items for NORI exploitation contract application Resource & project economics: Resource definition / Initial Assessment: COMPLETE show the resource
Slide 13: Pilot collection system test and initial environmental impact monitoring
13 Nasdaq: TMC Pilot collection system test and initial environmental impact monitoring campaign completed in Dec 2022. Over ~3,000 tonnes of nodules lifted to surface. PILOT COLLECTOR SYSTEM TEST PROGRAM IN 2022 January Riser acceptance test February Thruster re-lift, dockside vessel commissioning,
Slide 14: Click for Video: NORI & Allseas collection trials
Click for Video: NORI & Allseas - First Integrated Collection System Trials Since 1970s https://vimeo.com/778303976/28d019f234
Slide 15: NORI-D Project: binding MoU with PAMCO
15 Nasdaq: TMC NORI-D Project: binding MoU with PAMCO to explore processing at existing RKEF facility in Japan, in line with our capital-light strategy. A Binding Memorandum of Understanding (MoU) with the Pacific Metals Company (PAMCO) of Japan was signed in November 2023 - PAMCO intends to process
Slide 16: Environmental Impact Statement (EIS)
16 Nasdaq: TMC Environmental Impact Statement (EIS): based on one of the largest ever deep-sea datasets ever compiled. Campaign 4D Campaign 5C Campaign 7C Campaign 5A Campaign 5D Campaign 7B 1&2 Campaign 4E Campaign 5E Campaign 8A Campaign 5B Campaign 7A 1&2 Campaign 8B * Assuming the average length
Slide 17: Our EIS is focusing on addressing six primary concerns
Our EIS is focusing on addressing six primary concerns. Preliminary results are encouraging on every one of them. Seafloor plumes Midwater plumes Carbon Concern: “Seafloor plumes could travel Concern: “Midwater plumes could travel Concern: “Planet’s biggest carbon sink 10,000s km2 beyond mining site
Slide 18: Seafloor plume: in-field observed data and modeling
Seafloor plume: in-field observed data and modeling are contradicting prior speculation by opposition groups, with 92-98% of sediment staying within 2 meters of seafloor and settling within ~24 hours. Good enough for swimming Good enough for drinking if it were freshwater Natural sedimentation level
Slide 19: Nodules are found in an ecosystem with least life
Nodules are found in an ecosystem with least life... Living biomass density by biome Mean kg of contained carbon / m? 50 45 17.5 gigatons total (3%) 533 gigatons total (97%) Nodules Ss «és ‘Source: Terrestrial biomass estimates from Houghton, R.A., and S. J. Gostz (2008), New satellites help quantif
Slide 20: And low levels of biodiversity
And low levels of biodiversity. Species richness by biome Estimated number of species, excluding microbial life Already described —_ Total estimated 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 ~250,000 species described ~2.2 million species estimated Nodules ~1.7 million spec
Slide 21: Nickel from NORI-D could have dramatically lower lifecycle impacts
21 Nasdaq: TMC Benchmark: Nickel from NORI-D could have dramatically lower lifecycle impacts including substantially lower CO2e emissions. Global Warming Potential Kilogram of CO2e emissions per kilogram of nickel in nickel sulfate Lowest impact value 102.0 64.4 29.2 28.5 19.2 13.9 8.0 6.2 Laterite
Slide 22: Regulated by the International Seabed Authority
22 Nasdaq: TMC Regulated by the International Seabed UNCLOS Parties Authority established UNCLOS Signatories in 1994 by UNCLOS. - The International Seabed Authority (ISA) was established in 1994 by the United Nations Convention on the Law of the Sea (“UNCLOS”) and regulates seabed minerals beyond na
Slide 23: ISA making progress toward final regulations
23 Nasdaq: TMC ISA making progress toward final regulations, while TMC subsidiary NORI reserves legal rights to submit application before final Timeline regulations are in place. 2011 Fiji requests the ISA to prepare workplan for adopting the Mining Code 2012 ISA Secretariat prepares a workplan for
Slide 24: Based on SEC-compliant Initial Assessment
24 Nasdaq: TMC Based on SEC-compliant NORI-D Financial Model2 Initial Assessment, NORI-D $ billions unless otherwise noted project estimated at $6.8 Estimated March 21 Initial Current prices, Increase billion NPV (est. $11.5 billion Prices Assess. w/CRU price forecast all other inputs unchanged usin
Slide 25: TMC liquidity of $49 million at March 31, 2024
25 Nasdaq: TMC TMC liquidity of $49 million at March 31, 2024, including $45 million credit facility capacity. $2.9 million drawn on ERAS/Barron facility subsequent to March 31. USD Millions 225.0 200.0 175.0 Add'l capacity on new S-3 universal shelf filing 150.0 100.0 125.0 100.0 Add'l capacity on
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