$$ \exists x \exists y \exists z (x\neq y \land x \neq z \land y \neq z \land P(x) \land P(y) \land P(z)) \tag1$$
I would translate the above sentence as, "There exist 3 different
elements (x,y,z) for which P(x), P(y), and P(z) are true." Does this mean at least 3 elements or exactly 3 elements?
Sentence $(1)$ has not actually identified any particular object; $x,y,z$ are just dummy variables (rather than constants or free variables).
Sentence $(1)$ means that $P(x)$ is true of three particular/distinct/different objects.
Being true of three distinct objects does not preclude being true of seven distinct objects, so does not imply being true of exactly three objects, which can be formalised as $$∃a\:∃b\:∃c\:\Big(a\ne b\,∧\, a\ne c\,∧\,b\ne c\,∧\,∀s\,\big(P(s)\,↔\,s= a\,\lor\, s=b\,\lor\, s=c\big)\Big).\tag2$$
Thus, Sentence $(1)$ means that $P(x)$ is true of at least three objects.
Incidentally, Sentence $(1)$ is logically equivalent to this more concise sentence: $$∀a\:∀b\:∃s\:\big(s\ne a\,∧\,s\ne b\,∧\,P(s)\big).\tag{1b}$$