You have a Microsoft 365 E5 subscription.

Apply retention labels to content automatically if it matches specific conditions, that includes cloud attachments that are shared in email or Teams, or when the content contains:

Specific types of sensitive information.

Specific keywords that match a query you create.

Pattern matches for a trainable classifier.

Note: Retention policies can be applied to the following locations:

Exchange mailboxes

SharePoint classic and communication sites

OneDrive accounts

Microsoft 365 Group mailboxes & sites

Skype for Business

Exchange public folders

Teams channel messages (standard channels and shared channels)

Teams chats

Teams private channel messages

Yammer community messages

Yammer user messages