Let $\phi(x) = \ln^{-1}(x)$. We want to prove that:
$\phi(x + y) = \phi(x)\phi(y)$ for all $x, y \in \mathbb{R}$. We cannot use the fact that $\phi(x) = e^x$, just the fact that $\ln$ has an inverse (that is $\phi$) (which I was asked to prove in an earlier problem).
I thought about starting from the identity $\ln(xy) = \ln(x) + \ln(y)$ and taking the inverse of both sides, but that left me with $xy = \phi(\ln(x) + \ln(y))$, and I didn't know where to go from there.
Since you know that $\ln(xy) = \ln x + \ln y$, just notice that
$$\ln \big(\phi(x) \phi(y)\big) = \ln \phi(x) + \ln \phi(y) = x + y = \ln \phi(x + y)$$
where we have used that $\phi$ and $\ln$ are inverse functions. Now conclude that $\phi(x) \phi(y) = \phi(x + y)$ due to the injectivity of $\ln$.