According to the official Magento Website, Magento 1 life will be ended by June 2020. That means you will no longer receive any security or feature updates from Magento Inc no matter you have Community or Enterprise Editon.

How long will Magento 1 be supported?

As previously announced in September 2018, Adobe will end support for the 12-year-old Magento 1. x release line for both Magento Commerce and Magento Open Source on June 30, 2020.

Is Magento going away?

With Magento 1's end-of-life coming up, it might seem like everyone is scrambling for cover. And understandably so, given the fact that after June 2020, merchants with online stores deployed on Magento 1 (M1) will lose all access to new features, functionality updates, bug fixes, and support from Adobe/Magento.