We study the theory of higher Grothendieck-Witt groups, alias algebraic hermitian K-theory, of symmetric bilinear forms in exact categories, and prove additivity, cofinality, dévissage and localization theorems – preparing the ground for the theory of higher Grothendieck-Witt groups of schemes as developed in [Sch08a] and [Sch08b]. No assumption on the characteristic is being made.