Possible to generate html/text/web version of calendar for sharing?

PDF

You can easily create a PDF of your calendar and attach that PDF file:

1. Open Calendar.app and go to the right date on your calendar
2. 'File' -> 'Print' (or CommandP)
3. Select your settings and press 'Continue'
4. Press the button in the lower left corner that says 'PDF'
5. Now you can 'Save as PDF' or 'Email PDF'

PNG

You can also make a quick and dirty screenshot of your calendar:

1. Open Calendar.app and go to the right date on your calendar
2. Press CommandShift4, now release the keys and press Spacebar. Now a camera icon appears.
3. Click on your calendar once using the camera icon. A screenshot will be saved on your Desktop which you can attach to your email.

Using Outlook 2011 you can generate a synoptic calendar using print function (listed into File menu) and saving it like a PDF. Now you can share your calendar via email, if you don't want to provide a calendar subscription.

Another solution is to link your calendar inside Calendar Mac OS X application, and after this share the calendar or generate a synoptic calendar always using print function.

In both case you can keep using your Microsoft Exchange server and mail system.