EXIF is a standard for images, sound, and ancillary tags used by digital cameras (including smartphones), scanners and other systems handling image and sound files recorded by digital cameras.
This standard consists of the Exif image file specification and the Exif audio file specification, but Final Cut Pro X only uses the image/video file specification.
Final Cut Pro X and Premiere Pro track the information – such as camera make and model, file size, color profile, bits per sample, etc recorded by the camera and stored at the time the media was created – so that it can be located and used to determine which clips should be included.
Media Composer does not read or display EXIF metadata directly but you an add EXIF metadata to Media Composer bins via a piece of software like MetaCheater to extract the EXIF metadata from the stills. Once extracted, add the metadata to a tab delimited Avid ALE file. Import the ALE and batch import the stills. This will merge the metadata in the bin with the still image. For more information on ALE, try this tutorial.