You are exalted because Christ became what you are to make you what He is. You are exalted with the work of Christ for you. You are emptied of your sin to be filled with the righteousness of Christ. You are emptied of your own merits and your worthiness, which is death and hell, and filled with the merits and worthiness of Christ, which is life and eternal salvation. You are emptied of your own status as a sinner and given His status as Sons of God the Father.