Arterial pH levels during exercise

Is there a drop in arterial pH levels during exercise? Explain why or why not.  Could you please provide me with a detailed answer on this by using a bicarbonate buffer system? I have the basic idea of how it works but could you please provide in-depth/ detailed explanation on how PH levels change during exercise.

My answer is :  that arterial PH levels are expected to be lowered because of the greater concentration of Hydrogen ions in the body causing an acidic environment. When the demand of O2 in the blood increases, blood levels of C02 also increases, resulting in greater number of Hydrogen ions and thereby increasing the amount of lactic acid in the body. Hydrogen ions in the body are detected by the peripheral chemoreceptors located in the aortic arch.

So, whenever the acidity in the body is increased, the PH of the body will be lowered causing an acidic environment which can be balanced by increasing the ventilation of the body and thereby causing the environment more basic or neutral.