diff --git a/src/bundler/LinkerContext.rs b/src/bundler/LinkerContext.rs
index 4bda69e9a23b..e06d1283335d 100644
--- a/src/bundler/LinkerContext.rs
+++ b/src/bundler/LinkerContext.rs
@@ -2403,6 +2403,15 @@ impl<'a> LinkerContext<'a> {
             ..Default::default()
         }];
 
+        debug_assert!(
+            flags.wrap != WrapKind::Cjs
+                || ast.commonjs_named_exports.count() == 0
+                || ast
+                    .flags
+                    .intersects(AstFlags::USES_EXPORTS_REF | AstFlags::USES_MODULE_REF),
+            "the wrapper prints `exports.x` for a lifted export and has no `exports` parameter"
+        );
+
         let print_options = js_printer::Options {
             bundling: true,
             // TODO: IIFE
diff --git a/src/bundler/linker_context/scanImportsAndExports.rs b/src/bundler/linker_context/scanImportsAndExports.rs
index 73dee5b22d28..352527738e5a 100644
--- a/src/bundler/linker_context/scanImportsAndExports.rs
+++ b/src/bundler/linker_context/scanImportsAndExports.rs
@@ -111,6 +111,8 @@ pub(crate) fn scan_imports_and_exports(
     let exports_refs: *mut [Ref] = ast.exports_ref;
     let module_refs: *mut [Ref] = ast.module_ref;
     let wrapper_refs: *mut [Ref] = ast.wrapper_ref;
+    let commonjs_named_exports: *mut [bun_ast::ast_result::CommonJSNamedExports] =
+        ast.commonjs_named_exports;
     let parts_list: *mut [PartList] = ast.parts;
     // Element is a *mutable* nullable
     // pointer (`BundledAst.css: Option<*mut BundlerStyleSheet>`).
@@ -621,9 +623,15 @@ pub(crate) fn scan_imports_and_exports(
                     col!(flags)[source_index] = flag;
                 }
 
-                let is_lifted_commonjs = col_ref!(ast_flags_list)[source_index]
-                    .contains(AstFlags::COMMONJS_LIFTED_TO_ESM);
-                if is_lifted_commonjs && flag.wrap == WrapKind::Cjs {
+                let ast_flags = col_ref!(ast_flags_list)[source_index];
+                let is_lifted_commonjs = ast_flags.contains(AstFlags::COMMONJS_LIFTED_TO_ESM);
+                let wrapper_has_exports =
+                    ast_flags.intersects(AstFlags::USES_EXPORTS_REF | AstFlags::USES_MODULE_REF);
+                if flag.wrap == WrapKind::Cjs
+                    && (is_lifted_commonjs
+                        || (!wrapper_has_exports
+                            && col_ref!(commonjs_named_exports)[source_index].count() > 0))
+                {
                     // The wrapper prints `exports.x = ...` again, so it takes `exports`.
                     col!(ast_flags_list)[source_index].insert(AstFlags::USES_EXPORTS_REF);
                 } else if is_lifted_commonjs && export_kind != ExportsKind::Cjs {
diff --git a/test/bundler/bundler_cjs2esm.test.ts b/test/bundler/bundler_cjs2esm.test.ts
index 57e31a43c888..5e90112e218b 100644
--- a/test/bundler/bundler_cjs2esm.test.ts
+++ b/test/bundler/bundler_cjs2esm.test.ts
@@ -1706,6 +1706,125 @@ describe("bundler", () => {
       stdout: "helped:in",
     },
   });
+  // A wrapped file prints its lifted `exports.x = ...` as written, so its wrapper takes `exports`.
+  // Here dead code or a removed statement makes the file CommonJS and counts no use of `exports`.
+  const wrappedWithNoUseOfExports: Record<string, string> = {
+    "/dead-branch.cjs": `exports.a = 1; if (false) { console.log(this); }`,
+    "/dead-ternary.cjs": `exports.a = 1; exports.b = true ? 2 : this;`,
+    "/dead-or.cjs": `exports.a = 1; exports.b = 0 || 2 || this;`,
+    "/dead-and.cjs": `exports.a = 1; false && this.x;`,
+    "/dead-call.cjs": `exports.a = 1; function f() { return 1; } if (false) { f.call(this); }`,
+    "/removed-this.cjs": `exports.a = 1; this;`,
+    "/removed-arrow.cjs": `exports.a = 1; (() => this);`,
+    "/removed-delete.cjs": `exports.a = 1; (function () { delete exports.a; });`,
+    "/removed-delete-all.cjs": `exports.a = 1; (function () { delete module.exports; });`,
+    "/removed-call.cjs": `exports.a = 1; (function () { module.exports(); });`,
+    "/removed-delete-member.cjs": `exports.a = 1; (function () { delete module.exports.a; });`,
+    "/removed-store.cjs": `exports.a = 1; (function () { module.exports = {}; });`,
+  };
+  // A counted use of `exports` already gives these wrappers the parameter.
+  const wrappedWithAUseOfExports: Record<string, string> = {
+    "/live-this.cjs": `exports.a = 1; exports.b = this === exports;`,
+    "/live-typeof-this.cjs": `exports.a = 1; exports.b = typeof this;`,
+    "/later-use.cjs": `exports.a = 1; var self = 1 ? globalThis : this; exports.b = typeof self;`,
+    "/this-first.cjs": `this; exports.a = 1;`,
+  };
+  // Dead code of these kinds does not make the file CommonJS.
+  const stillLifted: Record<string, string> = {
+    "/dead-delete.cjs": `exports.a = 1; if (false) { delete exports.a; }`,
+    "/dead-store.cjs": `exports.a = 1; if (false) { module.exports = {}; }`,
+  };
+  const importAs: Record<string, (file: string, i: number) => string> = {
+    Default: (file, i) => `import f${i} from ".${file}"; const a${i} = f${i}.a;`,
+    Named: (file, i) => `import { a as a${i} } from ".${file}";`,
+    Star: (file, i) => `import * as f${i} from ".${file}"; const a${i} = f${i}.a;`,
+    Require: (file, i) => `const a${i} = require(".${file}").a;`,
+  };
+  const readA = (files: string[], importLine: (file: string, i: number) => string) =>
+    files.map(importLine).join("\n") + `\nconsole.log(${files.map((_, i) => `a${i}`).join(", ")});`;
+  for (const [form, importLine] of Object.entries(importAs)) {
+    const wrapped = Object.keys(wrappedWithNoUseOfExports);
+    itBundled(`cjs2esm/WrappedFileWithLiftedExportsTakesExports${form}Import`, {
+      files: { "/entry.js": readA(wrapped, importLine), ...wrappedWithNoUseOfExports },
+      run: { stdout: wrapped.map(() => "1").join(" ") },
+    });
+  }
+  itBundled("cjs2esm/WrappedFileWithLiftedExportsTakesExports", {
+    files: {
+      "/entry.js": readA(
+        Object.keys({ ...wrappedWithNoUseOfExports, ...wrappedWithAUseOfExports, ...stillLifted }),
+        importAs.Default,
+      ),
+      ...wrappedWithNoUseOfExports,
+      ...wrappedWithAUseOfExports,
+      ...stillLifted,
+    },
+    cjs2esm: { unhandled: Object.keys({ ...wrappedWithNoUseOfExports, ...wrappedWithAUseOfExports }) },
+    onAfterBundle(api) {
+      api.expectFile("/out.js").not.toContain("__commonJS(function() {");
+    },
+    run: { stdout: Array(18).fill("1").join(" ") },
+  });
+  itBundled("cjs2esm/WrappedEntryPointWithLiftedExportsTakesExports", {
+    files: {
+      "/entry.cjs": `exports.a = 1; if (false) { console.log(this); } console.log("loaded");`,
+    },
+    run: { stdout: "loaded" },
+  });
+  itBundled("cjs2esm/WrappedFileWithLiftedExportsTakesExportsMinifyIdentifiers", {
+    files: {
+      "/entry.js": readA(["/dead-branch.cjs", "/removed-this.cjs", "/removed-store.cjs"], importAs.Default),
+      ...wrappedWithNoUseOfExports,
+    },
+    minifyIdentifiers: true,
+    run: { stdout: "1 1 1" },
+  });
+  itBundled("cjs2esm/WrappedFileWithLiftedExportsTakesExportsSplitting", {
+    files: {
+      "/entry.js": `const lib = await import("./dead-branch.cjs"); console.log(lib.default.a);`,
+      ...wrappedWithNoUseOfExports,
+    },
+    outdir: "/out",
+    splitting: true,
+    run: { file: "/out/entry.js", stdout: "1" },
+  });
+  // The production define makes the branch dead.
+  itBundled("cjs2esm/ThisInDeadDevelopmentBranchKeepsExports", {
+    files: {
+      "/entry.js": `import lib from "./lib.cjs"; console.log(lib.a);`,
+      "/lib.cjs": /* js */ `
+        exports.a = 1;
+        if (process.env.NODE_ENV !== "production") {
+          console.log("dev", this === exports);
+        }
+      `,
+    },
+    define: { "process.env.NODE_ENV": '"production"' },
+    run: { stdout: "1" },
+  });
+  // `process.browser` is `false` for these targets without a flag.
+  for (const target of ["bun", "node"] as const) {
+    itBundled(`cjs2esm/ThisInDeadProcessBrowserBranchKeepsExports_${target}`, {
+      files: {
+        "/entry.js": `import lib from "./lib.cjs"; console.log(lib.a, lib.a2);`,
+        "/lib.cjs": /* js */ `
+          exports.a = 1;
+          if (process.browser) { this.a2 = 1; }
+        `,
+      },
+      target,
+      run: { stdout: "1 undefined" },
+    });
+  }
+  // The linker wraps this file for the default import. No parser mark is involved.
+  itBundled("cjs2esm/LinkerWrappedFileWithLiftedExportsTakesExports", {
+    files: {
+      "/entry.js": `import React from "react"; console.log(React.a);`,
+      "/node_modules/react/index.js": `import { z } from "./z.js"; exports.a = z;`,
+      "/node_modules/react/z.js": `export const z = 7;`,
+    },
+    run: { stdout: "7" },
+  });
   itBundled("cjs2esm/DefaultImportJsxClassicRuntime", {
     files: {
       "/entry.jsx": /* jsx */ `
diff --git a/test/bundler/esbuild/extra.test.ts b/test/bundler/esbuild/extra.test.ts
index 7cd5621a0b63..bf5566b7f8be 100644
--- a/test/bundler/esbuild/extra.test.ts
+++ b/test/bundler/esbuild/extra.test.ts
@@ -611,7 +611,6 @@ describe("bundler", () => {
     run: true,
   });
   itBundled("extra/DefineExports1", {
-    todo: true,
     files: {
       "in.js": `if (exports.x !== void 0) throw 'fail'; this;`,
     },
@@ -619,7 +618,6 @@ describe("bundler", () => {
     run: true,
   });
   itBundled("extra/DefineExports2", {
-    todo: true,
     files: {
       "in.js": `if (exports.foo !== void 0) throw 'fail'; this;`,
     },
@@ -663,7 +661,6 @@ describe("bundler", () => {
     run: true,
   });
   itBundled("extra/DefineExportsArray2", {
-    todo: true,
     files: {
       "in.js": `if (exports.foo !== void 0) throw 'fail'; this`,
     },