The COBOL EXIT statement is a terminating flow control verb.

EXIT comes is a few flavours:

bare EXIT is a common end point for a series of procedures.
EXIT PARAGRAPH, EXIT SECTION provides a means of exiting a structured procedure without executing any of the subsequent statements.
EXIT FUNCTION, EXIT METHOD, EXIT PROGRAM marks the logical end of a module of code.
EXIT PERFORM breaks out of a inline perform loop.
EXIT PERFORM CYCLE causes an inline perform loop to begin the next iteration.