13D Filing: Whitebox Advisors and Saexploration Holdings Inc. (SAEX)

Item
6 is hereby amended and supplemented as follows:

On February 28, 2018,
the Issuer entered into a second amendment to the New Credit Agreement (“NCA Amendment 2”) among the Borrower and the
other guarantors party thereto, the lenders party thereto, including WMP, WCP, and WAP (the “Credit Agreement Lenders”),
and Cantor Fitzgerald Securities, as administrative agent and collateral agent for the Lenders. NCA Amendment 2, among other things,
removes the condition providing for an early maturity of September 14, 2018. The maturity date of the New Credit Agreement is January
2, 2020.

The summary of the
Issuer’s NCA Amendment 2 set forth above does not purport to be complete and is qualified in its entirety by reference to
the Issuer’s 8-K, dated as of February 27, 2018, a copy of which is being filed as Exhibit Z and is incorporated herein by
reference.

Per the Issuer’s
Schedule 14C filed on February 9, 2018, on January 26, 2018, the Issuer’s board of
directors unanimously adopted a resolution pursuant to which it sought stockholder approval to authorize the issuance of up to
92.76% of the currently outstanding shares of Common Stock, on a fully diluted basis as of the closing of the 2018 Exchange Offer
(approximately 131,292,475 shares) on January 29, 2018, to eligible holders of the Company’s outstanding Exchange Offer
Notes who tendered their Exchange Offer Notes in the exchange offer and consent solicitation. In addition, the consenting stockholders
executed the consent approving the share issuance as described in the Issuer’s Schedule 14C.

The summary of the
Issuer’s Schedule 14C set forth above does not purport to be complete and is qualified in its entirety by reference to the Issuer’s
Schedule 14C, dated as of February 9, 2018, a copy of which is being filed as Exhibit AA hereto and is incorporated herein by reference.

Exhibit A:  Joint Filing Agreement

Exhibit B:  Executive Officers and Board
of Managers of Whitebox Advisors LLC

Exhibit C:  Board Members of Whitebox
General Partner LLC

Exhibit D: Schedule of Transactions in the
Common Stock by the Reporting Persons

Exhibit Z: Amendment No. 2 to First Amended
and Restated Credit and Security Agreement, dated as of February 28, 2018 (incorporated herein by reference to Exhibit 10.1 to
the Current Report on Form 8-K filed by the Issuer on March 2, 2018)

Exhibit AA: Schedule 14C dated as of February 9, 2018 (incorporated
herein by reference to the Schedule 14C filed by the Issuer on February 9, 2018)