Yes. I find it easier to burn off say 500 calories through exercise than reduce it from my diet. There's a certain volume of food I need to eat, plus include my sweets to avoid cravings. That's usually around 1700 on the low end. It's been the way I've managed to lose the weight and keep it off.
I've tried going as low as 1200 when I was desperate to break a plateau but it was hard and I lasted about a week.