Dear Erika,
The Audit (Premium) license contains the following information.
- Audit (Premium) retains all Exchange, SharePoint, and Azure Active Directory audit records for one year.
Microsoft Purview Audit (Premium) | Microsoft Learn
- To benefit from user-level Audit (Premium) capabilities, a user needs to be assigned an E5/A5/G5 license.
Microsoft Purview Audit (Premium) | Microsoft Learn
- Audit (Premium) works with Office 365 Management Activity API.
- Audit (Premium) provides the following events:
MailItemsAccessed
Send
SearchQueryInitiatedExchange
SearchQueryInitiatedSharePoint
Other Audit (Premium) events in Microsoft 365
Microsoft Purview Audit (Premium) | Microsoft Learn
If you have Microsoft 365 E3 or other subscriptions not containing Audit (Premium), you can only get data to audit log events of Audit (Standard) and the audit log policy is 90 days. Of course it also works with Office 365 Management Activity API.

Auditing solutions in Microsoft Purview | Microsoft Learn
Hope that the information above helps you!
Sincerely
Cliff | Microsoft Community Moderator