In a sense, yes as your calories in < calories out but your making the mistake of it all being burnt due to exercise as burning that amount through exercise is probs impossible and if you try, you'll probs die quickly. instead your body has metabolic processes ( eg respiration) which naturally burns calories and to maintain weight, the average man needs like 2100 calories as there body burns about the same amount, hence no growth but no loss. if you want to lose weight your calorie intake < calorie outtake which can be done by taking (probs for someone just starting a diet) about 400/500 calories off their maintenance calories either by eating less or burning the calories through exercise or both. You can find an estimate of maintenance calories by a TDEE calculator online but it isn't accurate.
Lmk if you don't understand anything.