Pep's probably staying in Manchester City until 2027. He's not only getting one year contract extension, but there is also an option to add another year. He's probably getting two year extension from Manchester City.
No matter how long the contract is, I believe this man is tired of winning, he has everything a coach would want. Breaking records and setting a new one has been his thing and in the EPL he changed the way every manager thinks, take a look at how every club wants to play like City, all thanks to Pep Guardiola. If Pep Guardiola leaves the EPL I don't think the Citizens will ever be the same or even be that competitive and to top it all some of the players might even leave the team, like it will be very hard to be up to that standard Pep Guardiola have set before leaving the club, that's for any manager that's taking over.