Well. I agree on the point that exercising is not the only way to lose some fat.
The main point of losing weight (meaning fat and/or muscle) is the caloric deficit your body must get into.
The first way of getting into caloric deficit is eating less.
The second is eating more then in the first way but doing exercise to burn the calories that you would eat more here, then in the first way .
(The third way is jsut combining 1 + 2 for maximum result, but imo this way isnt sustainable for a longer period of time).
Most people simply feel bad when they eat less, i have felt this way myself.
So, why make yourself feel bad ?
You could be eating more and meanwhile lose weight. Just add some exercise in. Another benefit compare to just restricting calories is, if you add exercise you can lose fat and gain muscle at the same time even in a caloric deficit. (-> Body recomposition, there is evidence that this is possible, even in trained athletes) Also the muscle that you will build will help you burn more calories even while doing nothing. 10kg of muscle help you burn approximately 100kcal more in a non-active state. That doesnot sound much, but that´s still something.