TMC Q2 2026 net loss $60.1M; cash $98.7M; NOAA/ITLOS progress

TMC the metals Co Inc.

Net loss $60.1M ($0.14/sh) vs $74.3M ($0.20/sh) in Q2 2025; exploration costs $56.1M incl. $37.2M Allseas settlement.
Cash $98.7M, no debt; liquidity ~$143M; $20.1M cash used in ops incl. $9M equity withholdings.
NOAA progressing USA-A/B permits; USA-B certified May 26, 2026; permit expected before Q4 2027 commissioning.
ITLOS ordered ISA to respect NORI/TOML due process on Jul 18; ISA approved 5-yr NORI contract extension Jul 20.
Signed MSA with Mariana Minerals (Jul 21) and MMSA with Eco Minerals (Jul 22); Allseas system 3.0M wet t/yr.

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