The Grecians were bottom of the Sky Bey League Two table in November but went on a 12-match unbeaten run which propelled them into the play-off places.
Since that sequence was ended by local rivals Plymouth Argyle, Exeter have won two in nine matches but Way knows his side will be coming up against a good outfit.
“I’ve got a lot of respect for him – certainly with how he’s managed himself, the team and the football club this year,” he told YTFC.net.
“Every manager goes through phases where you have to deal with a level of criticism. He had some towards him and it’s how you come out of that with the group of players and he’s managed that well this year.
"He’s had great support from the football club and I think he’s also returned that. I think we’ve got the same relationship here.”
He continued: “I went to watch them the other week and I thought the crowd got behind them really well.
“They played against Cheltenham and Reuben Reid, who we all know well, carried a huge responsibility as far as scoring goals.
“(David) Wheeler is very mobile and athletic, and they have one or two players who carry a lot of experience.
“They know how the manager works and he’s added one or two additions to his squad which have proved successful.
“We have to make sure we’re ready to play a good team who have been in good form.
“However, I think it will be a tight game. The majority of games we have against Exeter are.
“As long as we get our performance right and the group show a hunger to win the football match we’ll be okay.”
Tickets for Saturday’s match (3pm kick-off) can be bought on the day at St James Park with a £1 increase. Advanced purchases can be made at the Huish Park ticket office, online or by phone on 01935 847888.