The raw file has (at least) three components:
- the raw data (which doesn't have any film simulation applied),
- metadata which gives all sorts of information about the image including the film simulation in use when the image was taken
- a preview image jpg that image viewers typically use when you look at the raw image (this has the film simulation applied).
The raw file can be processed by a raw converter - Fuji and Adobe (amongst others) have raw converters that can apply any film simulation to the raw data - not just the simulation you used when shooting the image.