An exit page is whatever page a visitor happened to be on the moment they left the site, regardless of how many pages they viewed before that or where the session started. Every session has exactly one, since every visit ends somewhere.
A single exit tells you almost nothing; it's the pattern across many sessions that matters. If a particular page shows up as the exit page disproportionately often relative to how much traffic it gets, that's worth investigating: is the content genuinely finishing the visitor's task and giving them nowhere else useful to go, or is something pushing people away, a broken link, a confusing layout, a dead end with no clear next step? Exit rate, exits divided by total visits to that page, is the metric that isolates this signal, and Google Analytics reports it per page. Not every high exit rate is a problem, a checkout confirmation page is supposed to be an exit page, which is why it's worth reading against what each page is actually meant to do.
