Yes, but most of the calories consumed are used up just staying alive. An hour of exercise only burns a few hundred more. About 200 for weightlifting (1 hour), 300 for walking (3 mi) and 600 for jogging (6 mi) . To lose weight you have to eat about 1000 fewer calories than usual. Exercise is important for strength, muscle tone, and cardiovascular health.
Note: Walking or running burns about 100 calories per mile. 5 miles will use 500 calories. Doing it 7 days a week could result in a half pound of weight loss a week, as long as you don't make up for it by eating more, which you will if you don't restrict calories. A few minutes of calisthenics is a good warm up, but burns a negligible amount of calories.