The most common and most likely answer to this crossword clue is the 5 plus 5 letter word BENCH PRESS
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Buddy explains!
The straight part
We know that "Exercise" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case exercise = bench press.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BENCH PRESS mean?
BENCH PRESS verb- To press the weight of a barbell away from one's body while lying on a bench.