The reigning champions narrowly avoided a shock defeat at the hands of the tournament newcomers, beating them 9-6, but Schmidt was full of praise for the Chiefs' organisation.
"It was no surprise to us how tough they (Exeter) were to break down. As I've said all week, I think they are a formidable side. They are greater than the sum of their parts. I just think they are a very unified group. They're well coached, they're well organised and they're hard to break down," said Schmidt.
"Having said that, it's not often we get in the 22 four times in the first half, and get nothing from it. That's down to us, we have to be more accurate than that.
"We were a little bit inaccurate and we have got to be patient enough to build scores against a really good team."
Leinster's success in the competition last season handed them their third title in the last four years.