The present study applied an extended version of the reasoned action approach (RAA) to explain students' post-university exercise intentions and behaviour. Students ( = 136) completed measures of RAA variables, past behaviour, habit strength and self-identity before leaving university, and exercise behaviour six months later ( = 84). The RAA explained 67% of the variance in exercise intentions (experiential attitude, instrumental attitude and autonomy were significant predictors), and 20% of the variance in behaviour (experiential attitude and intention were significant predictors). Past behaviour explained additional variance in exercise intentions and behaviour, but its effects were mediated by self-identity. The RAA provides a useful framework for understanding students' exercise intentions and behaviour as they transition out of university. Self-identity may be particularly important for maintaining exercise levels across significant life transitions.