SAExploration Holdings, Inc., along with its affiliates, filed a joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on August 27, 2020. As per the plan filed, administrative claims, statutory fees, priority tax claims, professional fee claims, other priority claims, other secured claims and secured tax claims will be paid full in cash. Credit Agreement Claims of $20.50 million with a recovery range of 65%-70% will be paid through pro rata share of Second Lien Exit Facility, the right to purchase pursuant to the Rights Offering up to its Pro Rata share of 78% of the term loans under the First Lien Exit Facility and the New First Lien Exit Facility Equity; and the payment in full in Cash. Term loan claims of $29 million with a recovery range of 1.6%-3% will be paid through pro rata share of 60% of the New Equity under the Plan and the right to purchase pursuant to the Rights Offering up to its pro rata share of 12.5% of the term loans under the First Lien Exit Facility and the New First Lien Exit Facility Equity. Convertible Notes Claims of $60 million with a recovery range of 0.5%-1% will be paid through pro rata share of 40% of the New Equity under the Plan and the right to purchase pursuant to the Rights Offering up to its pro rata share of 9.5% of the term loans under the First Lien Exit Facility and the New First Lien Exit Facility Equity. PPP loan claims will be reinstated while general unsecured claims will be paid full in cash. Section 510(b) claims will be cancelled with no distribution and intercompany claims will be reinstated or cancelled. Intercompany interests will be reinstated and SAE Holdings interests will be cancelled. The plan will be funded through cash in hand, sale of assets, First Lien Exit facility of $15 million, Second lien exit facility, issuance of the new equity, including the new first lien exit facility equity, the first lien exit facility put option premium and options or other equity awards.