Ways out exist in conversion (5)
I believe the answer is:
exits
'ways out' is the definition.
(I've seen this before)
'exist in conversion' is the wordplay.
'in conversion' indicates anagramming the letters (I've seen this in other clues).
'exist' is an anagram of 'EXITS'.
(Other definitions for exits that I've seen before include "Goes out, leaves" , "Ways out" , "Departs" , "Withdraws" , "Egresses" .)