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I think it works quite differently. For one, it does not work with signature database files.

From their website :

 

Blocks dangerous exploit-based malware and prevents the damage it can do

 

Malwarebytes Anti-Exploit Premium protects you from zero-day exploits targeting browser and application vulnerabilities. Its proprietary technology guards you in that critical period between the release of a new exploit and its security patch. And, unlike antivirus products, Malwarebytes Anti-Exploit Premium proactively prevents the exploit from installing its payload. Before it can do damage.

 

How it works for you
  • Four layers of exploit protection (application hardening, protection against Operating System security bypasses, memory caller protection, application behavior protection)
  • Proactive technology
  • Protection for older Windows operating systems, including Windows XP
  • Ability to add and manage custom shields
  • No signature database
  • Small footprint
  • Anti-malware and antivirus compatible
  • Blocks unknown and known exploit kits
What it does for you
  • Protects browsers, including Internet Explorer, Firefox, Chrome, and Opera
  • Protects browser components, including Java and Flash
  • Defends against drive-by download attacks
  • Shields vulnerable applications, including Microsoft Office, PDF readers, and media players
Edited by Daffie
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