EX-99.1 2 tm2614595d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 TMC Provides First Quarter 2026 Corporate Update NEW YORK, May 14, 2026 - TMC the metals company Inc. (Nasdaq: TMC) (“TMC” or “the Company”), a leading developer of the world’s largest resource of critical metals essential to energy, defense, manufacturing and infrastructure, today provided a corporate update and first quarter financial results for the period ending March 31, 2026. Q1 2026 Financial Highlights Current liquidity available from our cash on hand and our credit facilities of approximately $164 million as of March 31, 2026 $0.6 million cash used in operations for the quarter ended March 31, 2026 Net loss of $20.6 million and net loss per share of $0.05 for the quarter ended March 31, 2026 TMC and Allseas Sign Commercial Agreement for First Nodule Recovery Operation Allseas, a global leader in offshore pipeline installation, heavy lift and subsea construction, will complete the development of and operate the first commercial nodule collection system The commercial system will have a nameplate production capacity of 3.0 million wet tonnes per annum with the surface vessel Hidden Ge…
Open exhibit ↗Current Report · Items 2.02, 9.01 · 8-K
TMC the metals Co Inc.
Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On May 14, 2026, TMC the metals company Inc. (the “Company”) issued a press release announcing its results for the first quarter ended March 31, 2026 and providing a business update. A copy of the press release is furnished as Exhibit 99.1 hereto. In addition, the Company will hold a conference call on May 14, 2026 at 4:30 p.m.…
Company context
The Metals Company is an explorer of lower-impact critical metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for energy, defense, manufacturing and infrastructure with net positive impacts compared to conventional production routes and (2) trace, recover and recycle the metals we supply to help create a metal commons that can be used in perpetuity. The Company has conducted more than a decade of research into the environmental and social impacts of offshore nodule collection and onshore processing. More information is available at www.metals.co.