It does not, something like

    char buff[100];

    char func(int idx) {
      char *ptr = buff;
      return ptr[idx];
    }

    int main (void) {
      printf("%c", func(200));
      return 0;
    }

Compiles nicely to something like this

    (module
     (type $FUNCSIG$ii (func (param i32) (result i32)))
     (import "env" "putchar" (func $putchar (param i32) (result i32)))
     (table 0 anyfunc)
     (memory $0 1)
     (export "memory" (memory $0))
     (export "func" (func $func))
     (export "main" (func $main))
     (func $func (; 1 ;) (param $0 i32) (result i32)
      (i32.load8_s
       (i32.add
        (get_local $0)
        (i32.const 16)
       )
      )
     )
     (func $main (; 2 ;) (result i32)
      (drop
       (call $putchar
        (i32.load8_s offset=216
         (i32.const 0)
        )
       )
      )
      (i32.const 0)
     )
    )

Which will gladly blow up, or not, when i32.load8_s gets called.

https://webassembly.studio/