Are exemption clauses and disclaimers the same thing?

Question

Are there any subtle differences?

Answer 1

Not exactly.

Exemption clauses exempt parties from obligations that they would normally be responsible for, such as a duty of care in certain circumstances. In making the contract, the parties agree that one of them shall be exempted from this particular duty of care.

Disclaimers put there other party on notice that the party disclaiming is making no firm statement on a particular representation. No agreement by the other side is required - it's one-sided.