Template:2002 ISDA Equity Derivatives Definitions 6.2

Section 6.2. Valuation Date. “Valuation Date" means, in respect of an Option Transaction,
each Exercise Date and, in respect of a Forward Transaction or an Equity Swap Transaction, each date
specified as such or otherwise determined as provided in the related Confirmation (or, if such date is not
a Scheduled Trading Day, the next following Scheduled Trading Day), in each case, subject to the
provisions of Section 6.6 below.