Exceptions are related to Design by Contract.
The interface of an objects is actually a contract between two objects, the caller must meet the contract or else the receiver may just fail with an exception. There are two possible contracts
1) all input the method is valid, in which case you must return null when the object is not found.
2) only some input is valid, ie that which results in a found object. In which case you MUST offer a second method that allows the caller to determine if its input will be correct. For example
is_present(key)
find(key) throws Exception
IF and ONLY IF you provide both methods of the 2nd contract, you are allowed to throw an exception is nothing is found!