HNZ Group announces joint venture in Australia to support new INPEX offshore oil and gas contract

MONTREAL, Dec. 1, 2016

The joint venture will supply up to four Sikorsky S-92 heavy helicopters, alongside the Ichthys Project's current aviation provider, in support of the safe and efficient installation, hook up, commissioning and production activities of the Projects' massive offshore facilities in Australia. The leased aircraft from PHI will provide services for the Ichthys Project's offshore facilities and will be based out of Broome, Western Australia. The contract will commence on or before April 1, 2017 with a base term of five years, plus two, two-year option periods.

The joint venture is held 50% each by both PHI and HNZ and is designed to provide a comprehensive aircraft solution to the Ichthys Project. Employing PHI aircraft, the joint venture will execute all aspects of the contract through service agreements providing personnel, equipment and support for flight operations, maintenance and administration.

"We are very pleased to have gained a new customer and support the significant Ichthys Project through this joint venture," said Don Wall, President and Chief Executive Officer of HNZ Group. "In PHI, we have gained a valuable partner who shares and promotes our values of providing safe, reliable and efficient operations. We are excited about working together on this project, growing our Australian business, and look forward to supporting the Ichthys Project over the course of the new contract."

This new contract builds on HNZ's current business in Australia, where HNZ has performed helicopter transportation operations for over 20 years. The new contract for the Ichthys Project, based in Broome, represents the second customer and offshore base HNZ supports in Australia.

ABOUT HNZ GROUP INC.
HNZ Group is an international provider of helicopter transportation and related support services with operations in Canada, New Zealand, Australia, Norway, Southeast Asia and Antarctica. The Corporation operates in excess of 115 helicopters to support offshore and onshore charter activities under a number of different brands. Offshore operations are provided under the Norsk brand in Norway and HNZ elsewhere in the world, while onshore charter operations are under the Canadian Helicopters brand in Canada, Acasta in Northern Canada and the HNZ brand in Asia-Pacific and Antarctica. Clients consist of multinational companies and government agencies including offshore and onshore oil and gas, mineral exploration, military support, hydro and utilities, forest management, construction, air ambulance and search and rescue. In addition to charter services, it provides ancillary services which include third-party repair and maintenance services and advanced flight training by the internationally recognized HNZ Topflight training center in Penticton, British Columbia. HNZ Group is a publically traded company on the Toronto Stock Exchange (TSX: HNZ) and is headquartered near Montreal, Canada and employs approximately 600 personnel from 38 locations around the world.

FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements relating to the future contractual relationship between the Corporation and the customers named herein and in particular with respect to the expected revenues and duration of such relationship. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. Consequently, readers should not place any undue reliance on such forward-looking statements. In addition, these forward-looking statements relate to the date on which they were made. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise unless being required by applicable laws.