Yes it's kinda almost 100% possible.
Requires latest stable kdepim which is currently kdepim 4.6.1.
Anything from kdepim 4.6.0/kmail2/kontact2 will work.
Works via davmail, nd with akonadi resource davgroupware/davical.
You can use the old version to only send/receive email, if that's all you interested in, that's been working for ages. Yes all this requires OWA enabled on server.
For me exchange contact sync is working 100% both ways.
exchange calendar sync is only working from Exchange pushed down to kontact. Not sure why.
LDAP/GAL lookup is working.
Be warned, new kontact/kdepim is very buggy still although with a lot of TLC can be made to work nicely.
You can also disable davmail log file, so no need to rotate it/clean it.
HOWTO
DavMail Settings:
MAIN
# what is not specified here is otherwise default
OWA: URL to exchange server
Trash keep delay (POP): 1
Sent keep delay (POP): 1
Calendar past events (Caldav): 1
kontact => Mail => Configure KMail => Accounts => Add => POP3 Email Server
Name: Exchange Mail
Incoming mail server: localhost
Username: DOMAIN\username
Password: ThePassword
Check enable interval mail checking: 5 minutes
Add SMTP server
Exchange
Outgoing mail server: localhost
Server requires authentication: check
Username: DOMAIN\username
Password: ThePassword
kontact => Calendar => Add Calendar => DAV groupware resource => DAVical =>
Name: Exchange Calendar
Host: 'write anything here, doesn't matter you will edit it later'
Installation path: 'write anything here, doesn't matter you will edit it later'
uncheck use SSL
Click next, next and finish
Then edit the resource and set the following:
Remote calendar access protocol: CalDAV
Remote URL: http://localhost:1080/users/emailaddr@blah.com/calendar/
Username: DOMAIN\username
Password: ThePassword
Click Fetch and OK
Refresh every 30 minutes
kontact => AddressBook => Add Address Book => DAV groupware resource => DAVical =>
Name: Exchange Contacts
Host: 'write anything here, doesn't matter you will edit it later'
Installation path: 'write anything here, doesn't matter you will edit it later'
uncheck use SSL
Click next, next and finish
Then edit the resource and set the following:
Remote calendar access protocol: CardDAV
Remote URL: http://localhost:1080/users/emailaddr@blah.com/contacts/
Username: DOMAIN\username
Password: ThePassword
Click Fetch and OK
Refresh every 99 minutes
kontact => settings => Configure Kontact => Contacts => LDAP Server Settings => Add Host
Host: localhost
DN: ou=people
Authentication: Simple
Port: 1389
Bind DN: DOMAIN\username
Password: ThePassword
Click OK
Tick localhost
kontact => Mail => settings => Configure KMail => Composer => Configure completion order => and set LDAP to first