This is not true, the guidance is:
"one form of exercise a day, for example a run, walk, or cycle - alone or with members of your household"
There is no time limit on how long you can be out exercising for.
This is not entirely true, not all agencies teach a Controlled Emergency Swimming Ascent (CESA). From memory the only one that teaches this is PADI.
Most don't as this is not a very effective or safe way of getting up once you get bellow a few M of water.
Most agency's will teach you to do an Alternate Source assent where you come up breathing of your buddy's air source, as this allows you to come up at a safer and more controlled rate.