SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Metals Royalty Co Inc

(Name of Issuer)

Common Shares, without par value

(Title of Class of Securities)

02462A104

(CUSIP Number)

03/27/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP Number(s):

02462A104

Names of Reporting Persons

TMC the metals company Inc.

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

Citizenship or Place of Organization

BRITISH COLUMBIA, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 13,846,154.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 13,846,154.00
8	Shared Dispositive Power 0.00

Aggregate Amount Beneficially Owned by Each Reporting Person

13,846,154.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

25.15 %

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person: The percent of Common Shares beneficially owned by the reporting person was calculated based on 55,061,113 Common Shares issued and outstanding as described in the issuer's Registration Statement on Form F-1 filed with the Securities and Exchange Commission on March 27, 2026.

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Metals Royalty Co Inc

(b)

Address of issuer's principal executive offices:

1900 Dome Tower, 333 7th Ave SW, Calgary, A0 T2P 2Z1

Item 2.

(a)

Name of person filing:

TMC the metals company Inc., a publicly-traded corporation

(b)

Address or principal business office or, if none, residence:

1111 West Hastings Street, 15th Floor, Vancouver, British Columbia, Canada V6E 2J3

(c)

Citizenship:

The reporting person is a corporation formed under the laws of British Columbia, Canada

(d)

Title of class of securities:

Common Shares, without par value

(e)

CUSIP Number(s):

02462A104

Item 3.

If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h)

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:

(k)

Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

Item 4.

Ownership

(a)

Amount beneficially owned:

13,846,154

(b)

Percent of class:

25.15%

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

13,846,154

(ii) Shared power to vote or to direct the vote:

(iii) Sole power to dispose or to direct the disposition of:

13,846,154

(iv) Shared power to dispose or to direct the disposition of:

Item 5.

Ownership of 5 Percent or Less of a Class.

Not Applicable

Item 6.

Ownership of more than 5 Percent on Behalf of Another Person.

Not Applicable

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not Applicable

Item 8.

Identification and Classification of Members of the Group.

Not Applicable

Item 9.

Notice of Dissolution of Group.

Not Applicable

Item 10.

Certifications:

Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TMC the metals company Inc.

Signature:	/s/ Craig Shesky
Name/Title:	Craig Shesky, CFO
Date:	04/09/2026

SEC Form SCHEDULE 13G filed by The Metals Royalty Company Inc.