Derived $\infty$-categories as exact completions

Abstract: We develop the theory of exact completions of regular $\infty$-categories, and show that the $\infty$-categorical exact completion (resp. hypercompletion) of an abelian category recovers the connective half of its bounded (resp. unbounded) derived $\infty$-category. Along the way, we prove that a finitely complete $\infty$-category is exact and additive if and only if it is prestable, extending a classical characterization of abelian categories. We also establish $\infty$-categorical versions of Barr's embedding theorem and Makkai's image theorem.