I could test this out like a normal person, but it's November 19th, and I'd need to wait until next month to verify it.  It'll be quicker to double check with you people:

If I format a text string for a Template Variable and use these text string variables...

• Month as decimal number (01-12) (%m)
• Day of Month as decimal number (01-31) (%d)

... it's implied in the description that these variables will use