How are limits outside an exceptional set defined?

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In some contexts one encounters statements like:

The following equation is true $$ f(x) = o(g(x)), $$ when $x\to\infty$ outside of an exceptional set $E$ of such and such measure.

My interpretation is that the statement above means that there exists a set $E$ of such and such measure, such that $$ f|_{E^\complement}(x) = o(g(x)), $$ where $x\to\infty$. Is this accurate?