TMC the metals Co Inc. 8K

TMC the metals company Inc. issued a Q2 2026 corporate and financial update outlining higher exploration-driven losses, substantial but finite liquidity, major regulatory and legal milestones for its U.S. and ISA seabed mining permits, and new strategic agreements with Allseas, Mariana Minerals and Eco Minerals to advance its offshore collection and U.S.-based processing plans toward targeted Q4 2027 commissioning.

TMC the metals company Inc. reported its second quarter 2026 results and a broad corporate update, highlighting $98.7 million of cash and $143 million of total liquidity with no financial debt, a quarterly net loss of $60.1 million ($0.14 per share) driven largely by higher exploration, evaluation and Allseas-related costs, and management’s view that existing liquidity covers at least 12 months of needs. The company described significant regulatory and legal milestones, including NOAA determinations that its USA-A consolidated deep-seabed mining application is in full compliance and certification of its USA-B exploration license application, continued progression of both USA-A and USA-B through DSHMRA review ahead of targeted Q4 2027 offshore system commissioning, a favorable ITLOS provisional measures order protecting subsidiaries NORI and TOML’s due process rights against the ISA, and ISA Council approval of a five-year extension of NORI’s exploration contract. Operationally, TMC detailed a new Master Services Agreement between TMC USA and Mariana Minerals to advance a phased onshore nodule processing and refining park in the Port of Brownsville, Texas; a Mutual Master Services Agreement with Eco Minerals for exclusive offshore vessel charter and advanced survey services plus a non-binding offtake MoU for Eco Minerals’ nodules; and a definitive commercial agreement with Allseas to develop, commission and operate the Hidden Gem nodule collection system with a 3.0 million wet tonne per annum nameplate capacity from Q4 2027, subject to approvals. The update also noted submission of extensive environmental datasets by NORI and TOML to the ISA’s DeepData database, the public listing of The Metals Royalty Co. (Nasdaq: TMCR) which holds a 2.0% gross overriding royalty on NORI and in which TMC owns 22.4% equity with repurchase rights on most of the royalty, and the company’s ongoing confidential U.S. government funding processes under President Trump’s Executive Order 14285, with an indication that TMC does not plan other capital markets transactions until at least one of these processes is completed.

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CIK

1798562

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Form

8K

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sec

Accession

0001104659-26-095883

Alert Tier

7