You have downgrade rights if purchased through the Volume Licensing:
https://www.microsoft.com/en-us/licensing/existing-customer/fulfillment?activetab=fulfillment-pivot%3aprimaryr2
Note also that you can run Exchange in standard mode for 180 days without a license as well if you wanted to simply use the 2016 server as an intermediate step
The trial edition functions just like an Exchange Standard Edition server and is helpful if you want to try out Exchange before you buy it, or to run tests in a lab. The only difference is that you can only use an Exchange server licensed as a trial edition for up to 180 days.