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To keep chats, files, teams, and meetings that have been created and stored on Microsoft Teams Free (classic), you will have to upgrade to a paid plan of MS Teams.
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If you want to keep your data and continue using Teams, consider upgrading to Teams Essentials,” the post explained further. “After the switch, however, you'll have access to a different set of features than you did with Teams Free (classic), and your data won't be retained (including data for existing channels, chats, and recurring meetings). In a response to a FAQ on Microsoft Teams support page “can I continue using Teams for free”, Microsoft states, “Although you'll no longer have access to your current Teams Free (classic) account after April 12, 2023, you have the option to sign up for the new free version of Teams.”