A message lost scenario

Consider the following steps

1. client A connected and sent a fetch command (XEP-0013)
2. client B sent a message M1 to A, but A is not in available state, so server put the message into offline store.
3. After client A finished processing the messages that fetched in step1, he send initial presence.
   ( server would not flood messages to A because step 1 disabled the behavior )

At step3, would client A lost message M1?