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

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CUSIP No. 78636X204

The executive officers, directors and control persons of the Reporting Persons are as follows:

Andrew Feldstein

Chief Executive Officer and Chief Investment Officer of the Investment Manager; Chief Executive Officer and Chief Investment Officer of GP Holdings; Director of BMT; Manager of BMGP GP; Manager of BMKH GP; Manager of BMST
GP

Michael Liberman

Co-President and Chief Operating Officer of the Investment Manager; Co-President and Chief Operating Officer of GP Holdings

Stephen Siderow

Co-President of the Investment Manager; Co-President of GP Holdings

Paul Friedman

Manager of BMM GP

Alan Gerstein

Director of BMT; Manager of BMGP GP; Manager of BMKH GP; Manager of BMST GP; Manager of BMM GP

Elizabeth Gile

Manager of BMGP GP; Manager of BMKH GP; Manager of BMST GP

Todd Groome

Manager of BMM GP

Gary Linford

Manager of BMGP GP; Manager of BMKH GP; Manager of BMST GP

Mark Shapiro

Director of BMT; Manager of BMGP GP; Manager of BMKH GP; Manager of BMST GP; Manager of BMM GP

Elli Stevens

Manager of BMM GP

The business address of each BlueMountain Fund (other than BMGP, BMST and BMM) is c/o Maples Corporate Services Limited, P.O.
Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The business address of BMGP, BMST, each General Partner, GP Holdings, the Investment Manager, Mr. Feldstein, Mr. Liberman,
Mr. Siderow, Mr. Friedman, Mr. Gerstein, Ms. Gile and Mr. Shapiro is 280 Park Avenue, 12th Floor, New York, New York 10017. The business address of Mr. Groome and Mr. Linford is c/o HighWater, Pavilion Commercial
Centre, 1st Floor, 802 West Bay Road, P.O. Box 30599, KY1-1203, Grand Cayman, Cayman Islands. The business address of each of BMM, BMM GP and Ms. Stevens is 6D, Route de Treves, L-2633 Seningerberg, Luxembourg B176.316.

(f) Mr. Feldstein, Mr. Liberman, Mr. Siderow,
Mr. Friedman, Mr. Gerstein, Ms. Gile, Mr. Groome and Mr. Shapiro are U.S. citizens. Mr. Linford is a South African citizen. Ms. Stevens is a British citizen.

Item 5. Interest in Securities of the Issuer.

Paragraphs (a), (b), (c) and (e) of Item 5 of the Schedule 13D are hereby deleted and replaced with the following:

(a-b) All percentages set forth in this Schedule 13D are based on the 9,424,534 shares of Common Stock of the Issuer,
outstanding as of November 1, 2017, as reported on the Issuers Form 10-Q filed with the SEC on November 8, 2017 (Form 10-Q). The
information set forth in Rows 7-13 of each Cover Page of this Schedule 13D is hereby incorporated herein by reference.

Each of the General Partners, BMM GP and GP Holdings expressly declares that this filing shall not be construed as an admission that each is, for the purposes
of sections 13(d) or 13(g) of the Act, the beneficial owner of any securities covered by this filing. BMCM expressly declares that this filing shall not be construed as an admission that it is, for the purposes of Sections 13(d) or 13(g) of the Act,
the beneficial owner of the securities owned by the BlueMountain Funds.

None of the Reporting Persons beneficially own any other shares of Common Stock.

(c) During the last 60 days, no transactions in the Common Stock were effected by any of the Reporting Persons.

(e) Each of Blue Mountain Credit Alternatives Master Fund L.P. and Blue Mountain CA Master Fund GP, Ltd. ceased to be the beneficial owner of more than five
percent of Common Stock on July 1, 2017.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the
Issuer.

Item 6 of the Schedule 13D is hereby amended by adding the following:

(iii) Restructuring Support Agreement

On December 19, 2017,
the Issuer entered into a restructuring support agreement (the 2017 RSA) with the BlueMountain Funds and other holders (collectively, the 2017 Supporting Holders) that beneficially own in excess of 85% in
principal amount of the 10.000% Senior Secured Second Lien Notes due 2019 (the Second Lien Notes), pursuant to which the 2017 Supporting Holders and the Issuer have agreed to enter into and implement a proposed deleveraging
restructuring transaction (the Restructuring Transaction).

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