Based on some paper thesaurus entries, perhaps 'underdo' or 'underrun'? 'Underperform' is prevalent in financial reports but falls short as a polar opposite of exceed.
The Indians have (afaik without reference to our leader) coined the splendid word "prepone" as an opposite of "postpone"; so let us here do the same.
The opposite of "exceed" is clearly "subceed". Google produces 29 non-redundant results; some of which are clearly misspellings of other words; but some intentional antonyms.
I shall henceforth use "subceed" on all possible occasions. eg in autobiography - "he routinely subceeded early expectations"
Yeah, I think we spoke of prepone on AWAD once before - I don't think you'll hear too many dissenting voices around here either. As for subceed - that would be a fairly obvious move too, no doubt. I'm not sure I can use it too freely in writing just yet though.