A hood will not change the exposure.
Actually, a hood can change the metered exposure because it does reduce the level of light that enters the mirror box...but it reduces light that you don't want to affect the measurement anyway. You don't usually want to count flare as measured light.
To answer the OP's question at a very basic level about how the lens hood works:
The lens projects a circular image into the mirror box (some lenses do have internal rectangular baffles which help a bit, but most do not). Obviously, the mirror box and the sensor are rectangular, which means a great deal of light that enters the lens isn't going to build the image on the sensor. Instead, it splashes around within the camera.
Some of it is absorbed by the black mirror box walls. Some of it bounces back out through the lens. But a lot of it bounces back to the sensor as overall flare.
If the level of unwanted light is very high--such as from a bright sky, or sand, or ocean background--it will be 'way too much light for the mirror walls to absorb. That's when you see it as noticeable flare. Notice, this is not just from a specular point source, but even from an overall bright background. The issue is not "point source" or "broad source," it's a matter of the amount of light being too great to be absorbed by the inner surfaces of the camera.
But a well-designed hood, such as the "petal" hood or a compendium (bellows) hood actually intrudes into the circular view of the lens so that instead of the lens "seeing" bright sky in those portions of its view that won't be part of the image, the lens "sees" only the dark interior of the lens hood petals. It's like the bill of a baseball cap cutting off the sky part of your own view. There is still a circular image being projected by the lens into the camera, but the extraneous portions are now dark instead of bright, and the mirror box is able to absorb that lower level of light.