Exclusive Analysis of $p+p \to \Lambda + K^0_S + p + \pi^+$ with HADES

Strangeness production in proton-proton ($pp$) collisions at $T=4.5$ GeV with HADES is studied via the exclusive reaction $p+p \to \Lambda + K^0_S + p + \pi^+$. A clear signature of $K^\ast (892)$ is extracted using a $\Delta$TOF-based PID and a sideband subtraction technique. Additionally, a missing-mass on proton selection enhances sensitivity to intermediate resonances, enabling a study of $N^\ast \, \to\,\Lambda K^\ast$. A pure three-body $\Lambda K^{\ast}p$ phase-space model fails to describe the data.