• As part of TMC's pilot-scale nodule processing, SGS and TMC produced the world's first cobalt sulfate from deep-seafloor polymetallic nodules, continuing to indicate TMC's resource is suitable for battery and energy transition markets
• The cobalt sulfate was produced in a testing program conducted in collaboration with SGS applying TMC's efficient flowsheet design that processes high-grade nickel-copper-cobalt matte directly to high-purity cobalt sulfate (without making cobalt metal) and produces fertilizer products instead of solid waste or tailings
• Key milestone advances TMC's aim to decrease reliance on land-based cobalt deposits and supply chains, and follows last month's successful production of the world's first nickel sulfate derived exclusively from seafloor polymetallic nodules
  

NEW YORK, June 12, 2024 (GLOBE NEWSWIRE) -- TMC the metals company Inc. (NASDAQ:TMC) ("TMC" or the "Company"), an explorer of the world's largest estimated undeveloped source of critical battery metals, today announced that it has successfully produced the world's first cobalt sulfate derived exclusively from seafloor polymetallic nodules. The cobalt sulfate was generated during bench-scale testing of TMC's hydrometallurgical flowsheet design with SGS Canada Inc. ("SGS"). The test work was carried out at SGS' Metallurgical Centre of Excellence testing facility in Lakefield, Ontario.