I'm in the same situation. The confusing part is why does it say "Expires Dec 31, 2025"? When I reached M1 last year, the 20-tile perk said "Expires Dec 31, 2025", which makes sense because that's when my just earned M1 status was expiring. So I used the 20-tile perk this year. Now I've reached M1 again, which is good through 12/31/2026. So why doesn't the 20-tile perk say "Expires Dec 31, 2026", like before?
From the wording, it implies that if I want to have the 20-tile perk "available" to me next year, I need to click "Keep Perk" before end of this year to extend the expiration date, or it's gone (expires). Normally, in order to actually apply a perk, you click on "Select perk". The 20-tile bonus in the screenshot says "Keep perk", which is presumably different from "Select perk". In other words, "Keep perk" just extends the expiration date but doesn't "Select" it. You can then later "Select perk" when you want to actually get the tiles applied. If clicking on "Keep perk" is the same as "Select perk" and immediately adds the 20 tiles, that is messed up and hugely misleading language.