Hello,
Thank you for contacting MyThemeShop.
1. Most probably, the theme won't stop working unless and until there will be a major update in WordPress or PHP. And that won't happen frequently. So you can use the theme without any issues even after your subscription is over.
2. Yes, we provide annual renewal. You just need to renew your subscription to get support for another year.
3. Currently, we do not have any ongoing discounts. But please contact us here so that our team will check if your account is eligible for any discount. If yes, they'll generate a custom invoice for you.
Hope that helps.
Let me know if you need anything else.
Thank you.