Will Windows Server 2012 Essentials require activation if I activated it with an MSDN subscription?

Question

Windows Server

There is an MSDN Ultimate subscription.
I installed Windows Server 2012 Essentials and entered one of the 5 keys available to me.
After my subscription expires, will Windows require activation again?
Last time I checked after 2 months on an expired subscription and it seems that activation was not required, but maybe they just do not immediately update the information.
For example, Azure Benefits disappeared only 4 months after the end of the subscription.