Exothermic reaction is where there is release of energy during a reaction
The enthalpy of exothermic reaction is negative
The relation between energy of products, reactants and enthalpy of reaction is
Enthalpy of reaction = sum of enthalpy of formation of products - sum of enthalpy of formation of reactants .
As enthalpy of reaction is negative, it means the enthalpy of products is less than the enthalpy of reactants so answer is :
In an exothermic reaction the energy of the product is less than the energy of the reactants.