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To retain all Microsoft Exchange items in Alex Wilber’s mailbox that contain the word “Falcon” and were created in the year 2021, follow these steps:

Create a Retention Policy:

Sign in to the Microsoft 365 compliance center.

Navigate to Policies and click on Retention.

Create a new retention policy (e.g., “Falcon Retention 2021”).

Specify the retention period (e.g., 2 years from the creation date).

Set the condition to include items containing the word “Falcon.”

Apply the Retention Policy to Alex Wilber’s Mailbox:

Assign the retention policy to Alex Wilber’s mailbox.

Ensure that the policy targets items created in the year 2021.

Validate the Policy:

Test the policy thoroughly to ensure it correctly retains the specified items.

Monitor the mailbox to verify that the retention actions are enforced.

Create a Custom Content Type:

Go to your SharePoint Online site.

Click on Settings (gear icon) and select Site settings.

Under Web Designer Galleries, choose Site content types.

Create a new content type (e.g., “Product1 Classification”) based on the Document parent content type.

Add a custom column (e.g., “Classification”) to this content type.

Apply the Content Type to Document Libraries:

Navigate to the document library where the files are stored.

Click on Library settings.

Under General Settings, select Advanced settings.

Choose Yes for “Allow management of content types.”

Add your custom content type (“Product1 Classification”) to the library.

Manually Classify Files:

Upload or edit a file in the library.

In the file properties, select the Classification field and set it to “Product1.”

Permissions and Encryption:

Ensure that all authenticated users have at least View permissions on the library.

For encryption, SharePoint Online automatically encrypts files at rest using BitLocker disk-level encryption.

Files classified as “Product1” will be encrypted and accessible only to authorized users.