diff --git a/fastmcp_slim/fastmcp/server/auth/oauth_proxy/proxy.py b/fastmcp_slim/fastmcp/server/auth/oauth_proxy/proxy.py
index 539cce937..5632c8f65 100644
--- a/fastmcp_slim/fastmcp/server/auth/oauth_proxy/proxy.py
+++ b/fastmcp_slim/fastmcp/server/auth/oauth_proxy/proxy.py
@@ -786,6 +786,19 @@ class OAuthProxy(OAuthProvider, ConsentMixin):
             )
         return self._jwt_issuer
 
+    @property
+    def token_endpoint_url(self) -> str:
+        """The token endpoint URL, as advertised in the authorization server metadata.
+
+        A CIMD `private_key_jwt` assertion is bound to this URL as its `aud`, so
+        it must match the advertised `token_endpoint` byte-for-byte. The SDK's
+        `build_metadata` builds that URL by stripping any trailing slash from
+        `base_url` first, so this does too: pydantic renders a bare-authority
+        `base_url` with a trailing slash, which would otherwise expect an `aud`
+        of `https://example.com//token`.
+        """
+        return f"{str(self.base_url).rstrip('/')}/token"
+
     # -------------------------------------------------------------------------
     # Upstream OAuth Client
     # -------------------------------------------------------------------------
@@ -2406,7 +2419,7 @@ class OAuthProxy(OAuthProvider, ConsentMixin):
                 # Replace the token endpoint so it can (a) authenticate CIMD
                 # private_key_jwt clients and (b) accept the SEP-990 jwt-bearer
                 # grant when identity assertion is enabled.
-                token_endpoint_url = f"{self.base_url}/token"
+                token_endpoint_url = self.token_endpoint_url
                 if self._cimd_manager is not None:
                     authenticator: ClientAuthenticator = (
                         PrivateKeyJWTClientAuthenticator(
diff --git a/tests/server/auth/oauth_proxy/test_oauth_proxy.py b/tests/server/auth/oauth_proxy/test_oauth_proxy.py
index 4e9289144..f5f15f5ab 100644
--- a/tests/server/auth/oauth_proxy/test_oauth_proxy.py
+++ b/tests/server/auth/oauth_proxy/test_oauth_proxy.py
@@ -10,6 +10,7 @@ from key_value.aio.stores.memory import MemoryStore
 from mcp.shared.auth import OAuthClientInformationFull
 from pydantic import AnyUrl
 from starlette.applications import Starlette
+from starlette.testclient import TestClient
 
 from fastmcp.server.auth.oauth_proxy import OAuthProxy
 from fastmcp.server.auth.oauth_proxy.models import OAuthTransaction
@@ -618,3 +619,38 @@ class TestIdpCallbackSuccessForwarding:
         # byte-for-byte.
         assert "flag" in query
         assert "sig=%FF%FE" in query
+
+
+class TestCIMDTokenEndpointAudience:
+    """The `aud` expected on a CIMD assertion matches the advertised token endpoint."""
+
+    @pytest.mark.parametrize(
+        "base_url",
+        ["https://api.example.com", "https://api.example.com/api"],
+    )
+    def test_token_endpoint_url_matches_advertised_metadata(
+        self, jwt_verifier, base_url: str
+    ):
+        """A bare-authority base_url must not expect `aud` of `https://host//token`.
+
+        CIMD is enabled by default, and a spec-following client binds its
+        private_key_jwt assertion to the `token_endpoint` the metadata
+        advertises. If the proxy expects a different string, every such client
+        is rejected with invalid_client.
+        """
+        proxy = OAuthProxy(
+            upstream_authorization_endpoint="https://auth.example.com/authorize",
+            upstream_token_endpoint="https://auth.example.com/token",
+            upstream_client_id="client-123",
+            upstream_client_secret="secret-456",
+            token_verifier=jwt_verifier,
+            base_url=base_url,
+            jwt_signing_key="test-secret",
+            client_storage=MemoryStore(),
+        )
+
+        app = Starlette(routes=proxy.get_routes(mcp_path="/mcp"))
+        with TestClient(app) as client:
+            metadata = client.get("/.well-known/oauth-authorization-server").json()
+
+        assert proxy.token_endpoint_url == metadata["token_endpoint"]