Yes. It can reduce the risk of getting pregnant, but is not very effective or reliable.
Additionally, you are not protected from sexually transmitted infections using this method.
Withdrawal is when a male removes his penis from the vagina before he ejaculates (spills out). Withdrawal is an attempt to prevent sperm from entering the vagina by ejaculating outside the vagina. Even if a male never ejaculates into the vagina, sperm can leak out into the vagina before the male pulls out, so there is still a risk of pregnancy.
Withdrawal is only about 73 percent effective compared to other methods that are 97 percent to 99 percent effective.