Application Event ID 1221 gives the details of the white space on the Exchange Database. With the amount of white space we can determine if we wanted to do a defrag on the store or not. Below powershell helps you to pull all the application events with id 1221 from last 2 days
$2DaysAgo = [DateTime]::Now.AddDays(-2)
$Events = Get-Eventlog Application | Where {($2DaysAgo -le $_.TimeWritten)} | ?{$_.eventid -eq “1221”}
$Events