Media release closed – 1

April 30, 2010

ECOYA IPO RAISES $10.1 MILLION

Shares list on Monday

The Ecoya IPO offer has closed fully subscribed just above the target level at $10.1 million.

Ecoya Limited (NZX: ECO) is the first IPO and listing on the NZSX market in 2010. Trading in
shares and warrants is expected to begin on Monday (May 3, 2010).

Applications by New Zealand institutions, international investors, the Australian and New
Zealand public and former 42 Below shareholders amount to around $7.2 million which includes
an additional $100,000 investment from interest’s associated with independent director Rob
Fyfe.

The balance of the shares of around $2.9 million have been subscribed for by The Business
Bakery LLP (The Bakery).

The Bakery, the investment vehicle of former 42 Below entrepreneurs Geoff Ross, Grant Baker
and Stephen Sinclair, indicated in Ecoya’s March prospectus it would partially underwrite the
offer.

Upon listing there will be 43.1 million Ecoya shares on issue and The Bakery’s shareholding will
be around 65 per cent.

All The Bakery’s shares (including those subscribed for in the IPO) are subject to lock-up
arrangements until release of Ecoya’s 31 March 2011 results on the terms set out in the restricted
Security Deed dated 25 March 2010.

Ecoya executive chairman Geoff Ross says the additional investment by The Bakery confirms his
and his colleague’s commitment to and confidence in Ecoya’s international growth plans.

“We welcome and thank all our new Ecoya shareholders. It’s the first IPO on the NZSX market
in around six months. We have a spread of shareholders throughout New Zealand, and a few
from Australia and selected US investors.”

“It’s exciting times as we enter significant global markets and we look forward to executing
Ecoya’s international growth plan with the new funding in place.”

All investors who have subscribed for Ecoya shares are also granted two warrants for every four
shares allotted. The warrants are exercisable in two equal tranches – one at any time before a
final exercise date of 15 December 2011 and the other before a final exercise date of 15 June
2013.

The warrants will both trade separately on the NZSX market under the symbols “ECOWA” and
“ECOWB”. The ordinary shares will trade under the symbol “ECO”.

Allotment notices are being mailed to share and warrant holders from today (Friday April 30,
2010). FASTER statements will be mailed no later than Friday, 7 May 2010.

Ends

Issued for Ecoya Limited by Pead PR

Contacts:
Geoff Ross, Executive Chairman, Ecoya Limited, Tel:0-9-520 7346, Mob: 021 42 42 19, email:
geoff@thebakery.co.nz
David Paine, Pead PR, Tel: 0-9-918 5556, Mob: 021 660 749, email: david@peadpr.co.nz

Application has been made to NZX Limited (a registered exchange) for permission to list the
shares and warrants and all requirements of NZX relating thereto have been complied with on or
before the date of this announcement. However, NZX accepts no responsibility for any statements
in this announcement, the Prospectus or the Investment Statement.