As far as I can tell, in the current implementation, reserve_exact is indeed exact. The only situation in which the capacity after calling reserve_exact will not equal length + additional is when it was already greater than that. Even if the allocator gives more than the requested amount of memory, the excess is ignored for the purposes of Vec's capacity: https://github.com/rust-lang/rust/blob/4b57d8154a6a74d2514cd...
Of course, this can change in the future; in particular, the entire allocator API is still unstable and likely won't stabilize any time soon.
Maybe more interestingly, line 659, slightly above that, explains that we know we got [u8] but today the ordinary Rust allocator promises capacity is correct, so we just ignore the length of that slice.
We could, as that comment suggests, check the slice and see if there's enough room for more than our chosen capacity. We could also debug_assert that it's not less room, 'cos the Allocator promised it would be big enough. I dunno if that's worthwhile.
Of course, this can change in the future; in particular, the entire allocator API is still unstable and likely won't stabilize any time soon.