Tmc The Metals Company Inc. · NASDAQ:TMC
Tmc The Metals — The Metals Company — ESG Presentation (February 2026)
65 slides from Tmc The Metals's sustainability presentation, February 2026
Slide 1: Environmental Impacts of Polymetallic Nodule Collection: What does the data tell us?
1 Environmental Impacts of Polymetallic Nodule Collection: What does the data tell us? Prepared by TMC Environment Team
Slide 2: Forward looking statement and cautionary information
2 Nasdaq: TMC Forward looking statement and cautionary information. This presentation contains forward looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Forward looking statements include, but are not limited to, st
Slide 3: Why explore the seafloor? Most of the planet's nickel, cobalt & manganese is there
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 - 1,504 21 - Australia Russia - 7 20- 16 Brazil DRC 3.6 Australia RSA 520 7.5 Cuba -
Slide 4: Oceans host much less life than land
4 Nasdaq: TMC Oceans—despite covering a much larger area than land—host much less life. 3% 97% of biomass lives of biomass lives in the ocean on land Note: Ocean life is defined as marine life and deep-subsurface life but excluding 1.5GtC of life inside oceanic crus ts as that life will not be impac
Slide 5: The deeper you go, the less life you find
5 Nasdaq: TMC And the deeper you go, the less life you find. 28% of ocean life 65% of ocean life Abyssal plain is a vast sedimentary seabed, oxic to 2m. 7% of ocean life It has gentle depressions, troughs and ridges. There is intense pressure (5,700-8,500 psi) and no sound or light except the ones m
Slide 6: Deep-sea mining usually covers three types of resources
6 6 Nasdaq: TMC “Deep-sea mining” usually covers three types of resources. Polymetallic nodules Cobalt crusts Seafloor massive sulfides 27 28 25 78 29 79 47 30 25 28 29 27 Mn Ni Cu Co Co Ni Ni cke l Mn Mang ane se Pt Pla ti num CuCop per Au Gold Ag Sil ver ZnZinc Cob alt Mang ane se Ni cke l Cop per
Slide 7: This is what a nodule field looks like
7 Nasdaq: TMC This is what a nodule field looks like.
Slide 8: One new nodule project can replace three new mines on land
8 Nasdaq: TMC Polymetallic: One new nodule project can replace three new mines on land. Dry nodule mass composition breakdown 25 0.70% Mn 29.20% Manganese 54.938 29 41.8% Hydroxide Cu 1.08% Copper 63.546 28 Ni 1.30% Nickel 8% 58.693 Fe 27 18% Co 0.18% Cobalt Mg, Na , Al, Si 58.933
Slide 9: Far offshore, far away from people and communities
9 Nasdaq: TMC Far offshore: The distance between Commercial Recovery Area far away from and selected territories people and physical impacts on Commercial Recovery Area communities. 5 days of sailing COMMERCIAL RECOVERY AREA
Slide 10: Very deep: an ecosystem with least life
10 Nasdaq: TMC Very deep: an ecosystem with Living biomass density by biome least life… Mean kg of contained carbon / m2 50.00 OCEANIC BIOMES TERRESTRIAL BIOMES 17.5 gigatons total (3%) 533 gigatons total (97%) 45.00 40.00 35.00 30.00 25.00 20.00 15.00 Nodules 10.00 5.00 - Source: Terrestrial biomas
Slide 11: Relatively low levels of biodiversity
11 Nasdaq: TMC …and relatively Species richness by biome Estimated number of species, excluding microbial life low levels of Already d escribed Total estimated biodiversity. 3,500,000 OCEANIC BIOMES TERRESTRIAL BIOMES ~0.4 million species described ~1.8 million species described ~2.2 million species
Slide 12: One of the largest deep-sea datasets ever compiled
12 Nasdaq: TMC Over more than a decade, we’ve put together one of the largest 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 of a ca
Slide 13: Working with leading marine research organizations
13 Nasdaq: TMC Working with the world’s leading marine research organizations to gather over a petabyte of data.
Slide 14: This is what nodule collection looks like
14 This is what nodule collection looks like. Video available at: https://vimeo.com/653068330/7f4d928878?fl=tl&fe=ec
Slide 15: 2022 collection system test in the CCZ
15 Nasdaq: TMC In 2022, we conducted the first INSERT collection SHORT system VIDEO test in theOF TEST MINING CCZ since the 1970s. Video available at: https://www.youtube.com/watch?v=iydMJToa2iU
Slide 16: Data show minimal impacts, media coverage differs
16 Nasdaq: TMC But while the data we’ve gathered over more than a decade show the impacts are minimal and manageable, media coverage paints a very different picture.
Slide 17: Our EIS addresses six key concerns and two extraordinary claims
17 Our EIS addresses six key concerns and two extraordinary claims.. Seafloor plumes Midwater plumes Noise & light Dark oxygen “Seafloor plumes could “Midwater plumes could “Noise and light from “Nodules produce oxygen travel 1,000s km from travel over a 1,000 km and operations could disrupt through
Slide 18: Seafloor plumes could spread 10,000s km2 beyond mining sites
18 Key Concern: “Seafloor plumes could spread 10,000s km2 beyond mining sites.”
Slide 19: Seafloor plumes form a gravity-driven turbidity current
19 Seafloor plumes: evidence shows that the sediment forms a gravity-driven turbidity current that hugs the seafloor. Video available at: https://www.youtube.com/watch?v=8gYJJjxY8g0 Source: Peacock. T. The GSR Patania II Expedition: Technical Achievements & Scientific Learnings. Global Sea Mineral R
Slide 20: Seafloor plumes monitored during pilot test
20 20 Seafloor plumes: successfully monitored during our pilot collection system test.
Slide 21: In-field data and modeling contradict prior speculation
21 Seafloor plumes: in-field observed data and modeling are contradicting prior speculation by opposition groups. Good enough for swimming Good enough for drinking if it were freshwater Natural sedimentation level © DHI Video available at: https://vimeo.com/851319010/79c7c9ff18
Slide 22: Most plume mass resettles within 1 km
22 Nasdaq: TMC Seafloor plumes will not travel 1,000s of km — most mass resettles within 1 km. Redeposition of seafloor plumes by distance Cumulative distribution based on DHI seafloor plume model developed for Near field Project Zero and validated based on in-field measurements during NORI pilot -
Slide 23: High impact blanketing limited to 100s of meters
23 Nasdaq: TMC Seafloor plume blanketing with high impact (>5mm) is limited to 100s of meters. Zones of Impact measured during NORI pilot trial ZONES OF IMPACT High Impact >5mm Moderate Impact 5-0.5mm Influence 0.5-0.1mm
Slide 24: Zones of impact constrained to several kms after 18 months
24 Nasdaq: TMC Seafloor plumes’ zones of impact (red and green) are constrained to Zones of Impact —18 months of Project Zero operations several kms after 18 DHI plume model for Project Zero system, validated based on in-field measurements of NORI pilot trial months of operations.
Slide 25: Zones of impact video after 18 months of operations
25 Nasdaq: TMC Seafloor plumes’ zones of impact (red and green) are constrained to several kms after 18 months of operations. Full video: https://www.youtube.com/watch?v=f9Hi1ks5EyE
Slide 26: Midwater plumes could travel over 1,000 km and poison tuna fisheries
26 Key Concern: “Midwater plumes could travel over a 1,000 km and poison tuna fisheries.”
Slide 27: Desktop modelling by NGOs with no in-field data
27 Midwater plumes: Desktop modelling by NGOs based upon zero in-field data warned plumes could spread far and wide.
Slide 28: Midwater plumes modelled using actual test mining data
28 Nasdaq: TMC We modelled midwater plumes based upon actual test mining data using a multiphase model. NORI Multiphase Sediment Plume Model - Solid Phase: Includes equations for specific sediment volume fractions - Liquid Phase: Consists of water and dissolved solids - Incorporates Earth's rotation
Slide 29: Sediment and seawater leaving the return outlet
29 Nasdaq: TMC Midwater plumes: Here’s what the sediment and seawater looks like as it leaves the return outlet.
Slide 30: Disks on return outlet accelerate dilution
30 Midwater plumes: disks attached to the return outlet accelerate dilution.
Slide 31: Midwater plumes rapidly dilute within 10s of km
31 Nasdaq: TMC Midwater plumes will not travel 1,000s of km — but rapidly dilute to within natural range of background variation within 10s of km. Speed of dilution Dispersal distance In-field measurements of how quickly midwater plume Plume model developed for Project Zero and validated based on in
Slide 32: Water volume impacted is negligible in the Pacific
The volume of 32 water impacted by the midwater plume is negligible in the vast Pacific Ocean. Video available: https://www.youtube.com/watch?v=Fb9qAytaT-M
Slide 33: Extent of measurable midwater plume at full-scale production
33 Midwater plumes: This would be the extent of measurable midwater plume from full- scale production.
Slide 34: Plumes at 2,000m depth unlikely to impact tuna fisheries
34 Nasdaq: TMC Midwater plumes released at 2,000m depth are Day 1 Day 2 Day 3 unlikely to impact tuna Vertical biomass migration during day-night fisheries. cycle Acoustic measurements in the upper 1,000m at a reference site in December 2015 Key takeaways: - Most vertical migration of mesopelagic or
Slide 35: Multiple papers point to low risks to fisheries
35 Nasdaq: TMC Midwater plumes: Multiple papers point to low risks to fisheries due to operational depth. “Tuna fisheries were classified as low risk during both exploration and mining phases for the three mineral types. This was largely due to a depth separation of most mining operations from the t
Slide 36: Dissolved metals dilute to background within 1.5 km
36 Nasdaq: TMC Dissolved metals in midwater plumes dilute to background within 1.5 km of source. A Dissolved Manganese & Zinc [Dilution factor 280-285] B C Dissolved Mangan 1500 m A B C Source: *Source concentration values derived from technical report submitted to NORI by Texas A&M University; **Ba
Slide 37: Pelagic organisms already experience metal spikes from East Pacific Rise
37 Nasdaq: TMC Pelagic organisms impacted by midwater plumes already experience spikes in metal concentrations from the nearby East Pacific Rise (EPR). The EPR is a linear submarine volcanic chain on the floor of the The volcanic activity of the EPR appears to be the southeastern Pacific Ocean, roug
Slide 38: Metals highly unlikely to bioaccumulate in fish
38 Nasdaq: TMC Midwater plumes: Research by Australia’s national science agency and universities found that metals are highly unlikely to bioaccumulate in fish. Classification of bioaccumulation on model simulated increased in metal group 1 concentration for functional groups under discharge exposur
Slide 39: Noise and light from operations could disrupt wildlife
39 Key Concern: “Noise and light from operations could disrupt wildlife.”
Slide 40: Noise highest from the surface vessel
40 Nasdaq: TMC Noise measured during pilot was highest from the surface vessel. Noise measurements during NORI test mining Used to validate noise model developed for Project Zero commercial system by Scottish Association for Marine Science (SAMS) Surface vessel Riser pipe / Thrusters ᠆ Empirical noi
Slide 41: Noise footprint constrained to 3.8 km radius
41 Nasdaq: TMC For initial production, the noise Noise generation during Project Zero footprint above NOAA behavioral Based on noise model developed by Scottish Association for Marine Science (SAMS) Operational scenario: Hidden Gem production vessel collecting nodules threshold for marine mammals is
Slide 42: Light generated by vessel, collector and ROVs/AUVs
42 Nasdaq: TMC Light is generated by the surface vessel, collector and ROVs/AUVs. ᠆ Sources of light at the surface and in the epipelagic zone will be from production vessels. The Hidden Gem is the primary source of Artificial Light at Night (ALAN) ᠆ ROVs, AUVs, and the collector vehicle are equippe
Slide 43: Light footprint constrained to 200m surface and 11m seafloor
43 Nasdaq: TMC Light footprint will be constrained to 200m radius on the surface and 11m on the seafloor. Light from the surface vessel Normal working light from a vessel may disrupt fish and zooplankton behaviour down to at least 200m depth across an area of > 0.125 km2 around the ship (Berge et al
Slide 44: Planet's biggest carbon sink could be disturbed
44 Key Concern: “Planet’s biggest carbon sink could be disturbed.”
Slide 45: Carbon sequestration will not be materially impacted
45 Nasdaq: TMC Carbon sequestration will not be materially impacted. “Proposed mining of these nodule-bearing sediments and resulting resuspension of particles and organic matter will have a trivial impact on the ecosystem service of carbon sequestration.” Orcutt, B.N., et al. (2020) “…the localized
Slide 46: Seafloor sediments host less than 5% of oceanic carbon sink
46 Nasdaq: TMC Oceans are the planet’s biggest carbon sink but seafloor sediments host less than 5% of The global carbon cycle the total oceanic Anthropogenic fluxes 2013-2022 average GtC per year carbon sink. Stocks GtC Carbon cycling GtC per year Fossil CO2 EFOS Land-use change ELUC Land uptake S
Slide 47: Only 1.5% of sediment carbon is on abyssal plains
47 Nasdaq: TMC Only 1.5% of total carbon buried in Organic carbon pools in surface sediments by depth Percent of total ocean area by depth / Percent of total organic sedimentary carbon by depth sediments are found on the abyssal plains Rise/plain (>2,000m) Slope (200-2,000m) Shelf (<200m) and rises—
Slide 48: No meaningful mechanisms for carbon to reach the atmosphere
48 Nasdaq: TMC 0-200m There are no MES OP ELAGIC meaningful 200-1000m mechanisms for carbon in abyssal 1000m floor sediments BA T HYPE L AG IC 1000-3000m disturbed by nodule collection to reach the atmosphere. 2000m Observed data from in-field pilot tests show that 92-98% of mobilized sediment stays
Slide 49: Bottom-trawled carbon is bioavailable, abyssal carbon is not
49 Nasdaq: TMC In shallow waters, carbon Bioavailability of organic carbon for microbial conversion to CO 2 in sediments disturbed by Percent of total organic carbon contained in surface sediments bottom-trawling is 35 bioavailable for microbial conversion to CO2 – this is 30-100%* 30 not the case f
Slide 50: Mining could irreversibly destroy ancient deep-sea habitats
50 Key Concern: ”Mining could irreversibly destroy ancient deep-sea habitats.”
Slide 51: 43% of the CCZ already set aside
51 Nasdaq: TMC Best mitigation is conservation: 43% of the CCZ already set aside. 1.97m km2 under protection 1.28m km2 under exploration APEI-3 APEI-6 APEI-2 The High Seas APEI-10 APEI-12 APEI-13 Treaty agreed in APEI-1 June 2023 aims to APEI-9 APEI-11 protect 30% of the APEI-5 PROTECTED AREAS Areas
Slide 52: Habitat types observed across NORI-D before pilot test
52 Nasdaq: TMC These are the different habitat types observed in seabed imagery collected across NORI-D before pilot test. A. Nodules type I B. Nodules type II C. Nodules type III D. Nodule-free E. Exposed rock / fragments F. Exposed rock / bedrock
Slide 53: Seafloor after nodule collection
53 And this is what the seafloor looks like after nodule collection: it’s a nodule free habitat.
Slide 54: Nodule collection could transform up to 0.18% of seafloor
54 Nasdaq: TMC Nodule collection could transform up to 0.18% of the seafloor from one habitat type to another. 1 Assuming a scenario where 50% of the 1.28 million km 2 of nodule exploration area in the CCZ gets exploited—an ambitious estimate given that some contractors have already stated that they
Slide 55: Trawling impacts 175x more seafloor than nodule collection
55 Nasdaq: TMC Trawling today impacts 175x more seafloor every year than Future seafloor use Offshore wind 2050: seafloor use2 nodule collection. Global seafloor Current seafloor use Trawling: annual seafloor use 1 0.42 m km 2 = 6 squares Nodule collection: annual seafloor use 3 361m km 2 = 4,800 sq
Slide 56: Organisms present and alive one year after test mining
56 Nasdaq: TMC Qualitative data shows individual organisms are present and alive one year following test mining, even right next to the vehicle tracks.
Slide 57: A tale of two tracks: ecosystem recovery
57 Nasdaq: TMC A tale of two tracks: ecosystem recovery measured after 40+ years but could be faster with our technology. Archimedes-screw Added buoyancy and 80cm drivetrain results in deep furrows and significant 3cm low-impact Coandǎ nozzles reduce depth of depth of sediment sediment disturbance d
Slide 58: Nodules produce oxygen through electrolysis
58 Extraordinary claim: “Nodules produce oxygen through electrolysis.”
Slide 59: Dark oxygen claim attracted five rebuttals
59 Nasdaq: TMC The claim that nodules produce dark oxygen has attracted a record of five rebuttals. Is Abyssal Dark Oxygen Production Even Possible at All? Angel Cuesta, Marcel Jaspars Published: 2025-03-10 Subjects: Chemistry, Environmental Sciences, Oceanography and Atmospheric Sciences and Meteor
Slide 60: Five rebuttals call for the paper to be retracted
60 Nasdaq: TMC Despite heavy media coverage, the five “There is a high probability that the paper is wrong” – Kentaro Nakamura, University of published rebuttals call for the paper to Tokyo geochemist quoted in Science, September 18, 2024 be retracted over serious concerns with the validity of its c
Slide 61: Peer-reviewed critique in Frontiers in Marine Science
61 Nasdaq: TMC A recent peer-reviewed critique in Frontiers in Marine Science synthesizes all prior concerns, further questioning the validity of the dark oxygen claims. Conclusion: “The proposed mechanism-seawater electrolysis driven by polymetallic nodules at voltages <1.23V lacks credible evidenc
Slide 62: Alpha radiation from nodules is a health hazard
62 Extraordinary claim: “Alpha radiation from nodules is a health hazard.”
Slide 63: Studies show alpha radiation not expected to be a health hazard
63 Nasdaq: TMC Multiple studies show alpha radiation from nodules is not expected to be a health hazard. In response to a 2023 paper by Volz et al. claiming alpha radiation from nodules posed health risks to workers, scientists at Germany’s Institute for Geosciences and Natural Resources (BGR) publi
Slide 64: Results are encouraging for all six primary concerns
64 Results are encouraging for all six primary concerns, and the scientific community has debunked two extraordinary claims. Seafloor plumes Midwater plumes Noise & light Dark oxygen Status: In-field observed Status: Midwater plumes Status: Both noise and light Status: Unprecedented five data shows
Slide 65: Contact
65 Corey Dr Michael McLachlan Clarke corey@metals.co corey@metals.co mike@metals.co Follow us
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