On April 3, 2020, SAExploration Holdings, Inc. was notified that its previously disclosed contracts for two joint 3D/4D Ocean Bottom Node Seismic Programs offshore West Africa, valued at approximately $42 million, have been terminated by the operator. Although the Company has been mobilizing vessels and equipment in compliance with project requirements and timelines, the operator terminated the project presumably due to uncertainty on government restrictions on operations during the COVID-19 pandemic. The company anticipates reimbursement of all of its direct and documented costs reasonably incurred due to the early termination.