For cloud-native snapshots and snapshot replicas, Veeam Backup for AWS retains the number of latest restore points defined in backup schedule settings.
During every successful backup session, Veeam Backup for AWS creates a new restore point. If Veeam Backup for AWS detects that the number of restore points in the snapshot chain exceeds the retention limit, the earliest restore point is removed from the chain.
Mind that Veeam Backup for AWS does not apply retention policy to cloud-native snapshots created manually. For details on how to remove them, see sections Removing Backups and Removing Individual Cloud-Native Snapshots Created Manually.