You make things backward. You can't say that a solution exist because $x\mapsto a^x$ is a solution. First you have to prove that a solution exist, and then, you define such solution by $x\mapsto a^x$ (because at this point, it's not clear what $a^x$ means).
Hint
Here $\mathbb N:=\{1,2,3,...\}$. Let $a\geq 1$.
Lemma 1:
1) For all $n\in\mathbb N$.There is a unique positive solution to the equation $x^n-a=0$. We denote $a^{1/n}$ such solution.
2) For all $m\in\mathbb N$, the following relation holds $$\frac{1}{a^{1/m}}=\left(\frac{1}{a}\right)^{1/m}.$$
Proof: Left to the reader. $\Box$
We wish to find a continuous function $f$ s.t. $$\begin{cases}\tag{S}
f(x+y)=f(x)f(y)\\
f(1)=a>0
\end{cases}
$$
One can prove very easily that if such a function $f$ exist, then $$f(0)=1,\quad f(1)=a,\quad f(-k)=\frac{1}{a^k}\ \text{if $k\in\mathbb N$},\quad \text{and}\quad f(k/m)=\begin{cases}a^{k/m}&k>0\\
\frac{1}{a^{k/m}}&k<0\end{cases}.$$
So, define the function $f$ as follow :
$f(0)=1$ and $f(1)=a$.
On $\mathbb N$, define $f(n)=a^n$.
You prolonge it on $\mathbb Z$ by $f(-k)=\frac{1}{a^k}$ for $k\in\mathbb N$.
You prolonge it on $\mathbb Q$ by $f(k/m)=\begin{cases}a^{k/m}&k>0\\ \frac{1}{a^{k/m}}&k<0\end{cases}.$
Finally, you prolonge it on $\mathbb R$ by $$f(r)=\sup\{f(p)\mid p\leq r,p\in\mathbb Q\}.$$
Theorem 1: The function $f$ constructed previously is continuous and satisfies $(S)$.
Proof: Left to the reader.$\Box$
If $a\in (0,1)$, then take $$f(r)=\inf\{f(p)\mid p\leq r,p\in\mathbb Q\},$$ when you prolonge it over $\mathbb R$.