My exercise didn't change much: Cycling to work every day. I got a new bike, but it didn't make me go that much faster.
Within a few months, I went from 175 to 150 pounds (about 79 to 68 kg), and have kept it off.
Now, this goes against the current "ketogenic" hypothesis, and is actually kind of puzzling, but I realize that butter makes things tasty, and I was just eating a lot less food overall because it was less pleasant. So it probably was a reduction in carbs.
It took more than a year before I could enjoy a piece of toast without anything on it.