It can, as long as the Exchange server supports standard email protocols (POP, IMAP, SMTP).

Thunderbird can sync email with Exchange through IMAP, assuming IMAP is enabled on the server.

Thunderbird does not natively sync contacts or calendar with Exchange. Over the years add-ons have been released that use the Exchange Web Services (EWS) interface for these categories of data. Not all Exchange servers have EWS enabled so you would need to check on that if you were thinking of using such add-ons.