If you've enabled Ads Personalization for your property but want to exclude specific events, what happens to the data for those events?

When you exclude specific events from Ads Personalization, it means Google will not use the data from those events to build personalized ad audiences or for remarketing. Instead, the data from these excluded events will still be collected and processed for general measurement and reporting within Google Analytics. This allows you to understand user behavior related to those events without influencing ad personalization. The data remains available for analysis in standard reports and explorations, but its utility for ad targeting is specifically restricted.