The licence is for support, and updates. The plugins (core and addons) that you have downloaded are still available. Your account download section will be blocked (we do not keep old versions of the plugins available for download). The plugins downloaded, will still function up until the time WordPress changes something that causes them not to.
We offer sizeable discounts on renewal and we do recommend keeping your licence up to date so that you can benefit from bug fixes, new features and ongoing support.
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