Tmc The Metals Company Inc. · NASDAQ:TMC
Tmc The Metals — The Metals Company — Investor Presentation (August 2024)
32 slides from Tmc The Metals's investor presentation, August 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 August 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: Solving the key metals bottleneck through seafloor polymetallic nodules
3 Nasdaq: TMC TMC: solving the key metals bottleneck in the energy transition through seafloor polymetallic nodules. The metal problem We believe that to solve the climate problem, the world must solve the battery problem, and to solve the battery problem, the world must solve the metal problem. – A
Slide 4: Why explore the seafloor? Most of the planet's nickel, cobalt & manganese
4 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 94 Indonesia - 21 Australia - 20 1,300 Russia - 7 Brazil - 16 DRC 3.6 Australia 230 RSA 520 Cuba -
Slide 5: Why nodules?
5 Why nodules? Polymetallic Far offshore Very deep High grades of four critical Far away from people, The deeper you go, metals: nickel, copper, cobalt no physical impact on the less life you will find. and manganese. communities. Unattached Portable No tailings, near No overburden to remove, no Onc
Slide 6: Nodule composition is well suited for battery metal needs
6 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 ELECTRIC CAR 53 kg 18% COPPER 75kWh battery with NMC811 chemistry 1 Contained metal value of polymet
Slide 7: Nodule composition also suited for infrastructure, defense and energy transition
7 Nasdaq: TMC Nodule composition is also well- suited for infrastructure, defense and the energy transition in general.
Slide 8: TMC estimated resources could supply U.S. demand for nickel, cobalt and manganese
8 Nasdaq: TMC TMC estimated resources have the The Metals Company 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 to
Slide 9: Ranked #1 and #2 largest undeveloped nickel projects
9 Nasdaq: TMC TMC: ranked in 2022 and 2023 as #1 and #2 largest undeveloped nickel projects on the planet 1; 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,
Slide 10: Key countries announced actions on seafloor resources this year
10 Nasdaq: TMC The world’s three most populous countries and other key industrial economies have announced key actions this year on seafloor resources. US House April 2024allocated $2M in defense funding to assess the feasibility of domestic nodule refining capacity Two Chinese April 2024 and contra
Slide 11: Tesla and GM shareholders and boards reject activist push on seafloor resources
11 Nasdaq: TMC Tesla and GM shareholders and boards reject activist push to exclude seafloor resources from future supply chains: only 8% of Tesla shareholders supported and 12% of GM. Proxy filing on April 17, AGM on June 13 Proxy filing on April 24, AGM on June 6 “The Board recommends a vote AGAIN
Slide 12: Steve Jurvetson joins Board of Directors as Vice Chairman
12 Nasdaq: TMC TMC welcomes renowned Silicon Valley investor Steve Jurvetson to Board of Directors as Vice Chairman and Special Advisor to CEO. ‒ As a former long-standing board member of Tesla and a current board member of SpaceX, Mr. Jurvetson brings a wealth of experience in helping companies nav
Slide 13: Technical resource statements issued on NORI and TOML
13 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 14: Significant milestones achieved, over $500 million raised
14 Nasdaq: TMC We have achieved significant milestones, having already raised over $500 million to progress our projects. What we have already raised1 What we have already done Key remaining items for NORI exploitation contract application Equity Resource definition / Initial Assessment: Year Raised
Slide 15: Pilot collection system test and environmental monitoring completed Dec 2022
15 Nasdaq: TMC Pilot collection system test and initial environmental impact monitoring campaign completed in Dec 2022. Over ~3,000 wet tonnes of nodules lifted to surface. PILOT COLLECTOR SYSTEM TEST PROGRAM IN 2022 January Riser acceptance test February Thruster re-lift, dockside vessel commission
Slide 16: Video: NORI & Allseas first integrated collection system trials
Click for Video: NORI & Allseas - First Integrated Collection System Trials Since 1970s https://vimeo.com/778303976/28d019f234
Slide 17: 3,000 wet tonnes of nodules in the hold of the Hidden Gem
3,000 wet tonnes of polymetallic nodules in the hold of the Hidden Gem vessel during the pilot collection system test in Q4 2022.
Slide 18: NORI-D binding MoU with PAMCO for processing in Japan
18 Nasdaq: TMC NORI-D Project: binding MoU with PAMCO to explore processing at Hachinohe facility 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
Slide 19: Nodules turned into nickel sulfate and cobalt sulfate
19 Nasdaq: TMC We have demonstrated we can turn nodules into nickel sulfate and cobalt sulfate, indicative of battery grade material. - NORI, in collaboration with SGS, has Nickel sulfate crystals from nodules Cobalt sulfate crystals from nodules produced what is believed to be the first nickel sulf
Slide 20: Environmental Impact Statement based on one of the largest deep-sea datasets
20 Nasdaq: TMC Environmental Impact Statement (EIS): based on 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
Slide 21: EIS addresses six primary concerns
21 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 s
Slide 22: Nodules are found in an ecosystem with least life
Nodules are found in an ecosystem Living biomass density by biome with least life... Mean kg of contained carbon / m2 4G 17.5 gigatons total (3%) 533 gigatons total (97%) Nodules s «sé ‘Source: Terrestrial biomass estimates from Houghton, R.A., and S. J. Gostz (2008), New satellites help quantify ca
Slide 23: 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 species
Slide 24: Seafloor plume: in-field data contradicts prior speculation
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.1 Good enough for swimming Good enough for drinking if it were freshwater Natural sedimentation leve
Slide 25: Concerns raised on validity of the 'dark oxygen' paper
25 Nasdaq: TMC Despite heavy media coverage, serious concerns on the validity of the recent ‘dark oxygen’ paper are being raised from within the scientific community. Activists and media have amplified the story to back the narrative that there are too many unknowns about nodule collection. Due to S
Slide 26: Nickel from NORI-D could have much lower lifecycle impacts
26 Nasdaq: TMC Benchmark: Nickel from NORI-D could have dramatically lower lifecycle impacts including substantially lower CO2e emissions.1 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 27: Regulated by the International Seabed Authority
27 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 28: ISA working toward adopting the Mining Code in 2025
28 Nasdaq: TMC After over a decade of negotiations and multiple drafts, the ISA has published a consolidated regulatory text and reiterated in their last four meetings that they are working with a view to adopting the Mining Code in 2025. Fiji requests the ISA to prepare workplan for adopting the Mi
Slide 29: Mining Code timeline driven by ISA Council
29 Nasdaq: TMC Timeline for development of Mining Code is driven by ISA Council, with support from other primary organs. Council (Norway as President) Assembly The publication of the consolidated regulatory text in February 2024 marked the transition to the final phase of ᠆ Supreme / political organ
Slide 30: Draft review process for NORI-D application
30 Nasdaq: TMC Draft review process for NORI-D application assuming submission prior to ISA’s March 2025 session. Summary of Exploitation Contract Application Submission and Review Process NORI right to submit application based on Exploitation Regulations, NORI SG checks for LTC reviews LTC rec. / w
Slide 31: NORI-D project estimated at $6.8 billion NPV
31 Nasdaq: TMC Based on NORI Report, NORI- NORI-D Financial Model2 D project estimated at $6.8 $ billions unless otherwise noted billion NPV (est. $8.5 billion Estimated March 21 Initial Current prices, Increase/ using current metal prices). Prices Assess. w/CRU price forecast all other inputs uncha
Slide 32: TMC liquidity of ~$40 million at June 30, 2024
32 Nasdaq: TMC TMC liquidity (cash plus unsecured borrowing capacity) of ~$40 million at June 30, 2024, prior to $7.5 million increase in unsecured credit facility capacity. USD Millions - Our credit facilities are being used as intended, as 225.0 a bridge to what we believe will be attractive finan
The Metals Company — Investor Presentation (August 2024) on 6ix