Default [Q] factory reset with external SD encryption

N900A, 4.4.2, My external SD card is fully encrypted. If I used Kies 3 to do a full backup, will that backup include the encryption key? Many GB of the external-SD files themselves are not included in the Kies backup, and I would like to do a factory reset without having to decrypt the external SD first, and without having to re-transfer many GB of data to the card. Will the Kies backup and restore preserve the encryption key, so that the external-SD files will still be accessible?