If you are exercising regularly you may well find that basal needs go down, because you improve overall insulin sensitivity, which can last >24 hours.
I would recommend that you do some basal testing first to make sure that you've got that right before trying to start adjusting for exercise.
My approach, now that I've done that is that if I'm running more than 4 hours after my last bolus, for less than 1 hour I don't tend to adjust doses, maybe eat more carbs depending on BG measurements before/during/after the run.
Less than 1 hour and within 2 hours of a meal, adjust the bolus.
Sunday long runs, or bike ride, morning basal is cut from 3.5U to 1U, breakfast bolus is 1U, just to keep sugars moving into the muscles. That tends to deal with the increased exercise induced insulin sensitivity, plus extra carbs during the run/ride without any additional insuln.