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The update support period is the period you can get and run PVsyst software updates (including new features, bug fixes and PV component database update). After it expires, you will still be able to use the last running PVsyst version you are entitled to according to the license you purchased but you will not be able to run new software updates.
If you would like to extend your update support, please visit http://www.pvsyst.com to check for prices and buy it online.
To apply the extension you purchased you simply have to synchronize your license.
Result: the license is up to date, you are now able to install and run the latest PVsyst update. For that, follow the software update procedure.