13D Filing: Blue Mountain Capital and SAExploration Holdings Inc. (SAEX)

Item 5. Interest in Securities of the Issuer.

The information contained
in Item 5 of the Schedule 13D is hereby amended and supplemented by adding the information below.

(a-b) All percentages set forth in this Schedule 13D are based on the Issuer’s 14,913,837 shares of Common Stock, outstanding
as of March 8, 2018, as set forth in the Form 8-K filed by the Issuer on March 8, 2018. The information set forth in Rows 7-13
and the footnotes of each Cover Page, as well as the information set forth in Item 3 of this Schedule 13D, are hereby incorporated
herein by reference.

During the past sixty (60)
days on or prior to March 6, 2018 (the “Event Date”), and from the Event Date to the
Filing Date, other than as set forth herein, there have been no additional transactions in Issuer’s securities.

Item 7.     Material to be Filed
as Exhibits.

16.  Joint Filing Agreement, dated as of December 22, 2017 (incorporated by reference to Exhibit 7 to Amendment
No. 2 to Schedule 13D, filed with the Securities and Exchange Commission on December 26, 2017).

17.  Warrant Agreement for the Series D Warrants (incorporated by reference to Exhibit 10.1 to the Current Report
on Form 8-K filed by the Issuer on March 8, 2018).