The program, which began in April 2014, first covered iPhone 5 models for two years after the first retail sale of the phone. That has recently been extended to three years, per Apple's support page:
This program allows qualifying iPhone 5 customers with faulty sleep/wake buttons to get them repaired free of charge. Problems with the sleep/wake button have been a common occurrence for many iPhone owners since the launch of the iPhone 4.
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Joseph Keller is the former Editor in Chief of iMore. An Apple user for almost 20 years, he spends his time learning the ins and outs of iOS and macOS, always finding ways of getting the most out of his iPhone, iPad, Apple Watch, and Mac.