I thought I saw some developer tweet a while back stating that they would be converted to materials. That’s not confirmed though.
If you salvage them yourself before the end of the season you get materials. But I don’t think they will automatically convert into materials when season ends.
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If it’s not a Blue Post announce from an admin then I won’t take the speculation of the 19th Feb.
It’s no speculation, check the second post of the thread.
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What part of this do you not understand? 
Update on February 7 : Season 27 of Diablo III will end on February 19. See our forum post for additional details.
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I enjoy the new kids who do not know what is going on and do not bother to try and stay informed. It appears that two official posts from Blizzard is not good enough. Just when you think you have seen it all, another one comes along. 
It’s now Feb 20th in Korea (10:30am Eastern time) and season 27 toon still exists. Guess Asia is running behind. 
The official post: “Asia - February 19 at 5pm KST”
EU The same. Let this season end already.
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Yes still Season 27 here, which is supposed to be EU.
I just hope they leave in the holiday gifts till I can get the wings on this account 
Well, everything is clear. Such thing happened like 3 seasons ago. The season was also overcooked, as much as a few days. Blizzard’s words are worth nothing.