Geokinetics Files for Chapter 11 Bankruptcy Protection, Enters into Asset Purchase Agreement

HOUSTON, TEXAS — June 26, 2018 — Geokinetics Inc. (“GOK” or the “Company”) announced today that
the Company and certain of its subsidiaries have filed voluntary petitions under chapter 11 of the United
State Code in the United States Bankruptcy Court for the Southern District of Texas. In conjunction with
the filing, the Company is pursuing a sale process under Section 363 of the Bankruptcy Code after
entering into an asset purchase agreement with SAExploration, Inc. (“SAE”), which will serve as a
“Stalking Horse” bidder to acquire a majority of the Company’s assets (the “363 Sale”). GOK intends to
continue to operate in the normal course of business throughout this process.

David J. Crowley, the President and Chief Executive Officer of the Company, commented, “Following the
exploration of several strategic opportunities, today’s filing allows for the greatest amount of flexibility
going forward as Geokinetics continues to provide valued services to our clients. We will work closely
with interested parties to highlight the inherent strength of our talented personnel and other assets to
enhance the ensuing organization.”

To facilitate the chapter 11 process, the Company has entered into a $15 million debtor-in-possession
term loan to be primarily provided by certain funds managed by stakeholders in SAE. The funds
provided by the debtor-in-possession lenders are anticipated to be repaid from proceeds following the
closing of a sale of a majority of the Company’s assets through the 363 Sale.

Additional information regarding the bankruptcy and access to court documents can be found at
https://cases.primeclerk.com/geok/.

FTI Consulting is serving as financial advisor to the Company and Porter Hedges LLP is serving as the
Company’s legal counsel.

About Geokinetics Inc.

Headquartered in Houston, Texas, Geokinetics Inc. is a leading provider of seismic data acquisition,
seismic data processing services and multi-client seismic data to the oil and gas industry worldwide.

6701866v3