I’m learning ASP.NET Core MVC after working for years with ASP.NET 4.XX MVC under IIS.

I have created a new Core MVC project – everything seems to be familiar.
Now, I published this project to a folder,
What I am confused with – there is no Views in that folder.
However, after I pointed IIS to that folder, web app seems to work as expected.
My question is – HOW does it work? Are Views compiled into my DLL or EXE?

Second question- is EXE file needed in the Publishing folder? It looks like I can remove it and my web app still works fine in IIS.

Thank you.