June 24, 2016

To the beneficial owners, or representatives acting on behalf of beneficial owners, of the outstanding senior secured notes (the "Notes") of SAExploration Holdings, Inc. (the "Company") listed below.

 

Title of Notes

CUSIP Number

ISIN Number


10.000% Senior Secured Notes due 2019


78636X AC9


US78636X AC92

      We are considering undertaking certain transactions with respect to the Notes. If you are a beneficial owner, or a representative acting on behalf of a beneficial owner, of Notes that qualifies as an "Exchange Eligible Holder" (as defined below), please complete the online form at www.dfking.com/sae. If you are a beneficial owner of the Notes that is not an Exchange Eligible Holder, please do not take any action at this time.

An "Exchange Eligible Holder" is a beneficial owner that certifies that it is:

(a) a "qualified institutional buye" (as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"));

(b) an "accredited investor" (as defined in Rule 501 under the Securities Act); or

(c) (i) a person other than a "U.S. Person" (as that term is defined in Rule 902 of Regulation S under the Securities Act) and outside the United States and (ii) not acting for the account or benefit of a U.S. Person.

I am an "Exchange Eligible Holder"

I am not an "Exchange Eligible Holder"

 

      This letter is neither an offer nor a solicitation of an offer with respect to the Notes or another security nor creates any obligations whatsoever on the part of the Company to make any offer or on the part of the recipient to participate if an offer is made.

      You may direct any questions to D.F. King & Co., Inc., at 48 Wall Street, 22nd Floor, New York, New York 10005, telephone numbers:
(212) 269-5550 (bank and brokers) or (877) 283-0317 (toll free) or email: sae@dfking.com.

Very truly yours,

SAExploration Holdings, Inc.