I'm going to answer this a little differently than karel or others, because I have some extra insights into things.
So, some early disclaimers: At the time of this post, I sit on the Ubuntu Community Council, the Ubuntu Technical Board, I have Ubuntu Core Developer status, and have extra insight to things that're going on behind the scenes with different releases.
I am also a CISSP-certified IT Security Professional and certified linux systems administrator (and am considered a Subject Matter Expert by the Ubuntu Training teams who produce certification tests, exams, etc. currently).
I also implore you to read through this related post on my blog - "Ubuntu, Ubuntu Flavors, and Ubuntu Pro: General Overviews" - which will provide additional explanations and insights beyond what I wrote here that may better help you understand the differences between Ubuntu, Ubuntu Flavors, and Ubuntu Pro.
So, let's start with this big question first: Is there going to be an Ubuntu MATE 26.04 LTS release?
The answer to this one is no. I have it on good authority from the Ubuntu Release Team that Ubuntu MATE will NOT have a 26.04 release, LTS or otherwise. The MATE team has consistently missed critical deadlines and not shown the level of development support activity necessary to meet the requirements to make any official release of ISOs for that Flavor. Therefore, Ubuntu MATE will not have a 26.04 release.
This leads to another question: Does that mean I am losing my Desktop Environment or Patches for my Software?
The answer to this is also no. While the MATE flavor is not making a release of its flavor with official installer media or ISOs, the packages they ship are still in the Ubuntu repositories. You can still upgrade readily from Ubuntu MATE 24.04 LTS to Ubuntu 26.04 LTS with the do-release-upgrade tool after Ubuntu 26.04 releases it's first point release (26.04.1). You will still get any updates and upgrades in turn that happened to your environment between 24.04 and 26.04 and any security patches that may have been made available in the intervening time periods.
And the next big one: If a Flavor does not release, am I still going to be secure?
The answer is a little less concrete, but is "It depends." The reason for this are two-fold:
Without a Flavor team to provide support, desktop environments and chosen packages for installation in the flavor's package set that differ from standard Ubuntu package sets will not be given dedicated or special attention. This includes Security patches for those components, but patches can still be submitted from the Community and then reviewed by the Ubuntu Security Team in accordance with their policies.
Core components of Ubuntu like C libraries, Python libraries, SSL libraries, the Kernel, etc. will still receive separate support from the Ubuntu Security Team in accordance with their policies.
Does Pro improve my security beyond the lifeline of my Flavor's support period?
Not necessarily. In my experience as a sysadmin and a Security professional, you should only rely on Pro and ESM support for an LTS beyond the standard support period of an operating system if your business use cases and such demand it, such as for temporary lifeline support for legacy software platforms, etc.
You should NOT consider Pro as a 'guarantee' to get support beyond End of Standard Support. It does NOT guarantee patches for everything except the underlying core Ubuntu components like SSH libraires, OpenSSL libraries, C libraries, etc.
It does NOT make you more or less secure.