CNN's Results are in for first round in French Presidential election shows a snippet of current French president Emmanuel Macron's recent speech. The English translation provided in audio is widely quoted in recent news (my transcription of the translation):

I want a France that inscribes itself in a strong Europe, which continues to form alliances with great democracies to defend itself. Not a France that exited Europe, (and?) have for its allies the international populace and xenophobes. That's not us.

Hat tip to @mouviciel's for commenting a direct quote in French. From TV5 Mond's En tête, Macron réussit son pari du premier tour:

"Je veux une France qui s'inscrit dans une Europe forte, qui continue de nouer des alliances avec les grandes démocraties pour se défendre, pas une France qui, sortie de l'Europe, n'aurait pour seuls alliés que l'internationale des populistes et des xénophobes", a clamé dimanche M. Macron.

which @terdon's edit (which coincided with mine) translates slightly differently:

I want a France that inscribes itself in a strong Europe, which continues to form alliances with great democracies to defend itself. Not a France that, having exited Europe, will have as its only allies the international populists and xenophobes. That's not us.

"Not a France that, having exited Europe..." seems to me to be highly suggestive that if Macron lost and Marine Le Pen won France's general presidential election, there is a high or at least much higher possibility that France would exit the EU, or Frexit.

There are certainly other related Q&A in this site when searching "frexit is:question":

• 2019: How would France benefit from a potential "Frexit"?
• 2016: What is the French support for Frexit (France leaving EU) and why?

And searching "le pen is:question" returns several question titles that even repeating them here would get this closed as "trying to defame..."

So here let's focus only on the reality or lack thereof behind the apparent distinction that Macron is making in his recent speech.

Question: "Not a France that exited Europe..." Is Macron just mud-slinging or is there real reason to believe that a president Le Pen could lead to a Frexit?