My weight just stalled when I was exercising. I’d lose a pound here and there and then just plateau for weeks. I would try upping my calories and it wouldn’t work. I’d try lowering my calories and it wouldn’t work. Then I got lazy one time and I skipped my exercise for a few days but I was still eating low cal and I dropped 3 pounds in 2 days. Now I just work at my active job 5 days a week and eat low cal and the weight comes off pretty quickly.
So at least for me exercise caused my weight to stall. Why this happened, I have no idea.