I am getting an ebike this weekend to use for some of my commuting (and because it is fun).

My commute will be a little under two hours total, out and back, with one significant hill each way. And, my bike will be pedal assist and I do not plan on using the highest level.

So, those experienced with ebike commuting, how much exercise should I expect to get out of this? Would it be fair to say 2 hours on the ebike would equal 1 hour of non-ebike riding?