Because $\{X_k\}_{k\in\{1,..,N\}}\mathop{\sim}\limits^{\rm iid}\mathcal {Exp}(\lambda)$, then $\mathsf P(X_\star\geqslant \theta) = \mathsf e^{-\lambda\theta}$ is the probability of a particular one of these random variables exceeding the threshold, $\theta$.
Let $M$ be the count of such values . Then this $M$ is binomially distributed. $$M\sim\mathcal{Bin}(N, \mathsf e^{-\lambda\theta})$$
Let $Z_m$, be the sum of some $m$ of these exponentially distributed random variables. (Due to them all being iid we don't really care which). The sum of $m$ exponentially distributed random variables has some sort of well known distribution, which will allow us to evaluate $F_{Z_m}(z):=\mathsf P(Z_m\leq z)$
Let $\mathscr M$ is a collection of $m$ indices for these exponentially distributed random variables $\{X_k\}_{k\in\mathscr M}$. In particular we are interested in those which all exceed the threshold. Due to the memoryless property (and the above):
$$\begin{align}\mathsf P(\sum_{k\in \mathscr M} X_k\leqslant y\mid \min_{k\in\mathscr M} X_k\geqslant\theta) = & ~ \mathsf P(\sum_{k\in \mathscr M}X_k\leqslant y-m\theta) \\ = & ~ F_{Z_m}(y-m\theta)\end{align}$$
Then we have the distribution of the count of samples which exceed the threshold, and the distribution of their sum when given that count.
So the probability we are interested in is $$\mathsf P(Y_N\leq y) = \sum_{m=0}^{\lfloor y/\theta\rfloor} \mathsf P(M{=}m)~F_{Z_m}(y-m\theta)$$