ILVES ERIKA (Head of Strategy and BD) sold 58.1% of their position (1.59M shares) of TMC THE METALS CO INC. on the open market

Open‑market sale worth $9.18M — a major position exit. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

ILVES ERIKA

Filed: 9/24/2025ACC: 0001104659-25-093050

InsiderILVES ERIKACIK 1878778

→

IssuerTMC THE METALS CO INC.CIK 1798562

Officer· Head of Strategy and BD

Since Sep 2021

+1.36M

Net shares

Net buyer

$9.18M

Total sold

Open market trades

0B · 1S

Total transactions

4.57M acquired · 3.21M disposed

Non-Derivative Transactions5

Common Shares

Direct

S · Sale

−1.59M

Price / share

$5.77

Trade value

$9.18M

% of position

58.1%

9/22/2025

2.74M→1.15M

Common Shares

Direct

A · Award

+2M

Price / share

—

Trade value

—

% of position

174.6%

9/23/2025

1.15M→3.15M

Common Shares

Direct

M · Option Exercise

+1.10M

Price / share

$0.65

Trade value

$714.98K

% of position

35.0%

9/24/2025

3.15M→4.25M

Common Shares

Direct

M · Option Exercise

+262.11K

Price / share

$0.65

Trade value

$170.37K

% of position

6.2%

9/24/2025

4.25M→4.51M

Common Shares

Direct

M · Option Exercise

+252.81K

Price / share

$0.65

Trade value

$164.33K

% of position

5.6%

9/24/2025

4.51M→4.76M

Total

Net shares

+2.02M

Net value

-$8.13M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Shares Direct	9/22/2025	S · Sale	−1.59M	$5.77	$9.18M	58.1%	2.74M	1.15M
Common Shares Direct	9/23/2025	A · Award	+2M	—	—	174.6%	1.15M	3.15M
Common Shares Direct	9/24/2025	M · Option Exercise	+1.10M	$0.65	$714.98K	35.0%	3.15M	4.25M
Common Shares Direct	9/24/2025	M · Option Exercise	+262.11K	$0.65	$170.37K	6.2%	4.25M	4.51M
Common Shares Direct	9/24/2025	M · Option Exercise	+252.81K	$0.65	$164.33K	5.6%	4.51M	4.76M
Total			+2.02M		-$8.13M

Derivative Transactions11

Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Shares

1.10M shares

−1.10M

Strike price

0.65

Held after

0.00

Exercisable

—

9/24/2025

Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Shares

262.11K shares

−262.11K

Strike price

0.65

Held after

0.00

Exercisable

—

9/24/2025

Stock Option (right to buy)

Direct

M · Option Exercise

Converts to

Common Shares

252.81K shares

−252.81K

Strike price

0.65

Held after

758.44K

Exercisable

—

9/24/2025

Class A Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

35.23K shares

+35.23K

Strike price

Held after

39.97K

Exercisable

—

9/24/2025

Class B Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

70.47K shares

+70.47K

Strike price

Held after

79.94K

Exercisable

—

9/24/2025

Class C Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

70.47K shares

+70.47K

Strike price

Held after

79.94K

Exercisable

—

9/24/2025

Class D Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

140.94K shares

+140.94K

Strike price

Held after

159.88K

Exercisable

—

9/24/2025

Class E Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

140.94K shares

+140.94K

Strike price

Held after

159.88K

Exercisable

—

9/24/2025

Class F Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

140.94K shares

+140.94K

Strike price

Held after

159.88K

Exercisable

—

9/24/2025

Class G Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

176.17K shares

+176.17K

Strike price

Held after

199.85K

Exercisable

—

9/24/2025

Class H Special Shares

Direct

M · Option Exercise

Converts to

Common Shares

176.17K shares

+176.17K

Strike price

Held after

199.85K

Exercisable

—

9/24/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Stock Option (right to buy) Direct	Common Shares1.10M shares	9/24/2025	M · Option Exercise	−1.10M	0.65	—	0.00
Stock Option (right to buy) Direct	Common Shares262.11K shares	9/24/2025	M · Option Exercise	−262.11K	0.65	—	0.00
Stock Option (right to buy) Direct	Common Shares252.81K shares	9/24/2025	M · Option Exercise	−252.81K	0.65	—	758.44K
Class A Special Shares Direct	Common Shares35.23K shares	9/24/2025	M · Option Exercise	+35.23K		—	39.97K
Class B Special Shares Direct	Common Shares70.47K shares	9/24/2025	M · Option Exercise	+70.47K		—	79.94K
Class C Special Shares Direct	Common Shares70.47K shares	9/24/2025	M · Option Exercise	+70.47K		—	79.94K
Class D Special Shares Direct	Common Shares140.94K shares	9/24/2025	M · Option Exercise	+140.94K		—	159.88K
Class E Special Shares Direct	Common Shares140.94K shares	9/24/2025	M · Option Exercise	+140.94K		—	159.88K
Class F Special Shares Direct	Common Shares140.94K shares	9/24/2025	M · Option Exercise	+140.94K		—	159.88K
Class G Special Shares Direct	Common Shares176.17K shares	9/24/2025	M · Option Exercise	+176.17K		—	199.85K
Class H Special Shares Direct	Common Shares176.17K shares	9/24/2025	M · Option Exercise	+176.17K		—	199.85K

Non-Derivative Holdings (Post-Transaction)1

Common Shares

Indirect

Shares owned30.68K

Total

30.68K indirect30.68K

Security Title	Shares Owned	Ownership Type
Common Shares	30.68K	Indirect
Total	30.68K	30.68K indirect

Derivative Holdings (Post-Transaction)0

No derivative holdings reported