Exchange calendar not synchronizing on Xperia 10 II

REPRODUCIBILITY (% or how often): always
BUILD ID = OS VERSION (Settings > About product): 4.1.0
HARDWARE (XA2, X10, X10 II, …): X10 II
UI LANGUAGE:
REGRESSION: (compared to previous public release: Yes, No, ?): Yes

DESCRIPTION: the exchange calendar synchronization is not working on Sony Xperia 10 II

PRECONDITIONS:

STEPS TO REPRODUCE:

  1. Configure Exchange account (regular exchange and not O365)
  2. Launch synchronization
  3. activate calendar sync

EXPECTED RESULT:

  • Emails synchronize
  • Exchange calendar visible in “Manager calendars” menu
  • Calendar events synchronize

ACTUAL RESULT:

  • Emails synchronize
  • Exchange calendar is visible in “Manager calendars” menu
  • Calendar events do NOT synchronize on device

ADDITIONAL INFORMATION:

Tried created a calendar event on Exchange calendar from the device to trigger sync. Event is not sent to server.