Are SPO group connected sites 'SharePoint' or 'Teams' in relation to retention?

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Frequent Contributor

We have two retention policies: one general and one added later only covering Teams. Now I need to exclude individual group connected sites from being retained - do I exclude the sites in the general retention policy or in the Teams-only policy?

 

And - just to be 100% sure - when I have an active retention policy covering "All" and then later add an exception, the "rule" will become "All except those sites being excluded", right?