Also see: https://www.pixelsham.com/2015/05/16/how-aperture-shutter-speed-and-iso-affect-your-photos/

In photography, exposure value (EV) is a number that represents a combination of a camera’s shutter speed and f-number, such that all combinations that yield the same exposure have the same EV (for any fixed scene luminance).

 The EV concept was developed in an attempt to simplify choosing among combinations of equivalent camera settings. Although all camera settings with the same EV nominally give the same exposure, they do not necessarily give the same picture. EV is also used to indicate an interval on the photographic exposure scale. 1 EV corresponding to a standard power-of-2 exposure step, commonly referred to as a stop

EV 0 corresponds to an exposure time of 1 sec and a relative aperture of f/1.0. If the EV is known, it can be used to select combinations of exposure time and f-number.

 https://www.streetdirectory.com/travel_guide/141307/photography/exposure_value_ev_and_exposure_compensation.html

Note EV does not equal to photographic exposure. Photographic Exposure is defined as how much light hits the camera’s sensor. It depends on the camera settings mainly aperture and shutter speed. Exposure value (known as EV) is a number that represents the exposure setting of the camera.

Thus, strictly, EV is not a measure of luminance (indirect or reflected exposure) or illuminance (incidentl exposure); rather, an EV corresponds to a luminance (or illuminance) for which a camera with a given ISO speed would use the indicated EV to obtain the nominally correct exposure. Nonetheless, it is common practice among photographic equipment manufacturers to express luminance in EV for ISO 100 speed, as when specifying metering range or autofocus sensitivity.

The exposure depends on two things: how much light gets through the lenses to the camera’s sensor and for how long the sensor is exposed. The former is a function of the aperture value while the latter is a function of the shutter speed. Exposure value is a number that represents this potential amount of light that could hit the sensor. It is important to understand that exposure value is a measure of how exposed the sensor is to light and not a measure of how much light actually hits the sensor. The exposure value is independent of how lit the scene is. For example a pair of aperture value and shutter speed represents the same exposure value both if the camera is used during a very bright day or during a dark night.

Each exposure value number represents all the possible shutter and aperture settings that result in the same exposure. Although the exposure value is the same for different combinations of aperture values and shutter speeds the resulting photo can be very different (the aperture controls the depth of field while shutter speed controls how much motion is captured).

EV 0.0 is defined as the exposure when setting the aperture to f-number 1.0 and the shutter speed to 1 second. All other exposure values are relative to that number. Exposure values are on a base two logarithmic scale. This means that every single step of EV – plus or minus 1 – represents the exposure (actual light that hits the sensor) being halved or doubled.

https://www.streetdirectory.com/travel_guide/141307/photography/exposure_value_ev_and_exposure_compensation.html

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