This doesn't actually work as advertised. I attempted free data egress from AWS in December. It took them 31 days to respond to my initial ticket. At which point they gave me a multi-page questionnaire to determine eligibility and they also told me I could not begin DTO until 60 days had passed from approval of the questionnaire.
By the time I was allowed "free egress" my cumulative S3 storage charges over the prior 100 days would have roughly matched the cost of egress if I just did so originally.
I'm in the US so the EU Data Act protections don't apply.
So in my case that would have been 14 weeks plus the time to migrate away. The egress costs are equivalent to around 17 weeks storage cost. So you save around 1c/gb if they don't find some reason to reject it.