TMC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• 1 Certification under DSHMRA and its implementing regulations is an intermediate determination by the NOAA Administrator confirming an applicant’s eligibility (based on financial responsibility, technological capability, prior obligations, and plan adequacy) for an exploration license or commercial …

• 2 In July 2026, the Republic of Nauru officially changed its name to the Republic of Naoero, restoring the country’s traditional Indigenous name to more faithfully reflect its heritage, language and national identity.

• We have key strategic partnerships with (i) Allseas, a leading global offshore engineering contractor, which developed and tested a pilot collection system, and is now modifying it into the first commercial production system, (ii) Pacific Metals Co. Ltd. (“PAMCO”), an experienced Japanese ferronicke…

• NOAA Certifies TMC USA’s USA-B Exploration License Application

• On May 28, 2026, NOAA formally certified the USA-B exploration license application submitted by our U.S. subsidiary, TMC USA, representing another key milestone in the regulatory approval process. Following certification, NOAA will begin preparation of an Environmental Impact Statement (EIS) for TMC…

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• We have key strategic partnerships with (i) Allseas, a leading global offshore engineering contractor, which developed and tested a pilot collection system, and is now modifying it into the first commercial production system, (ii) Pacific Metals Co. Ltd. (“PAMCO”), an experienced Japanese ferronicke…

• TMC Subsidiaries Submit Extensive Deep-Sea Dataset to Public Database as Company Launches Video Series on Findings of Environmental Research

• On April 15, 2026, we announced that our subsidiaries NORI and TOML submitted extensive datasets to the ISA’s DeepData, covering a decade of exploration in the Clarion Clipperton Zone. Dataset includes 777 equipment deployments and over 4,800 distinct environmental samples, generating 76,000 biologi…

• On March 27, 2026, we announced that TMC USA currently holds an exclusive right of negotiation with the Port of Brownsville, Texas on a lease and / or lease option for land sufficient to develop a domestic nodule processing and refining ecosystem for TMC USA and other American nodule developers, wit…

• On March 19, 2026, we signed a Strategic Partnership Agreement with Mariana Minerals (“Mariana”) focusing on the potential development of a nodule processing and refining facility in the Port of Brownsville, Texas as part of our owner’s team. Mariana brings an AI, software-first approach to the perm…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• During the three months ended June 30, 2026, we completed the implementation of a new financial close and reporting system. The implementation resulted in a change to the Company’s internal control over financial reporting by replacing certain manual financial close and reporting processes with auto…

• The Company adopted its Incentive-Based Compensation Recovery Policy (the “Clawback Policy”) in accordance with SEC Rule 10D-1 and Nasdaq listing standards. The Clawback Policy was in effect during the second quarter of 2026 reporting period and provides for the mandatory recoupment of erroneously a…

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• There were no changes in our internal control over financial reporting identified in connection with the evaluation of such internal controls that occurred during the three months ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control …

Text added vs the prior filing · source: 10-Q · 2026-08-13

• On May 18, 2026, NORI and TOML each issued a Notice of Dispute to the ISA concerning the ISA’s inquiries into their possible non-compliance with their exploration contracts. By Applications filed on June 5, 2026, each instituted proceedings against the ISA, together with a request for provisional me…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• The ISA’s inquiry into the possible non-compliance of NORI and TOML with their exploration contracts, and the related proceedings before the Seabed Disputes Chamber, could adversely affect our rights under the ISA regime.

• In March 2026, the ISA identified our subsidiaries NORI and TOML as contractors requiring specific attention for possible non-compliance with their exploration contracts. NORI and TOML maintain that they have complied with their contractual obligations and have each instituted proceedings against th…

• On July 18, 2026, the Chamber prescribed provisional measures in both proceedings. Those orders are interim, do not prejudge the merits, and did not suspend the inquiries, which the ISA remains able to continue in accordance with the applicable legal framework, including rules of due process. There …

• The timing of the merits phase is uncertain and may extend well beyond our current expectations. The ISA has asked the Chamber to defer its defense on the merits to March 30, 2027 and, if that request is granted, the merits would not be heard before the second half of 2027 at the earliest. We expect…

• An adverse outcome in the inquiry could result in findings of non-compliance and in remedial measures, sanctions or other action by the ISA in respect of the exploration contracts, including, in certain circumstances, their suspension or termination. The Council of the ISA’s approval of a five-year …