Here's why:
* "Exhaust" is a verb. It means to use up completely or tire out.
* Adding "-ed" to the verb "exhaust" creates the past tense: "exhausted"
Example:
* Present tense: I exhaust myself with work.
* Past tense: I exhausted myself with work yesterday.
While there are other rules for forming past tenses, this one applies directly to the word "exhaust-" as it creates a regular past tense form.