SharePoint Online Admin Center > Click on “Settings” from the left navigation. To set the storage limits configuration in SharePoint Online Admin Center, to either automatic to manual, head on to: SharePoint Online: Set Storage Management to Automatic or Manual In that case, you get 1 TB plus 10 GB per license purchased! Office 365 F3 license gets you 10 GB plus 2 GB per license. Suppose you subscribed to any Microsoft 365 Business Basic, Business Premium, Office 365 Enterprise E1, E3, E5, or SharePoint Plan 1 or 2 plans. The total storage space you get in SharePoint Online is based on your subscription and the number of licenses. In the SharePoint Online Admin center, In the top-right corner of the page, you can see the amount of storage used across all sites and the total storage of your tenant. This is called the “Storage pool” of the tenant. Say, for example, If you have 100 user license, you’ll get 1 TB + (100 x 10 GB) = 2 TB approximately. When you subscribe to Office 365, you’ll get 1 TB of storage + 10 GB per-user license. Each site collection gets allotted with the required storage space from the shared storage pool of the tenant automatically. By default, SharePoint Online uses “Automatic” Storage management to reduce administrative overheads.
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