A new update spotted in Japan by Satoshi Ando and shared by Dario Zannoni suggests that Performance Max campaigns may soon support audience exclusions at the campaign level.
The feature, labelled “Data Exclusions,” appears under campaign settings, just above the third-party measurement section, and allows advertisers to exclude remarketing lists directly within Performance Max.

If rolled out globally, this would be a major step toward greater audience control and cleaner targeting inside PMax campaigns.