diff --git a/docs/cli.md b/docs/cli.md
index 6974ca6fe3..d052d8ba4a 100644
--- a/docs/cli.md
+++ b/docs/cli.md
@@ -398,11 +398,17 @@ Entries that change during an import retain an unavailable-entry diagnostic
 alongside readable siblings. If enumeration of an already admitted root fails,
 the graph keeps its observed children and records the root failure as a
 top-level limitation. That partial inventory does not establish absence among
-unexamined children.
+unexamined children. POSIX directory-entry bytes that are not valid UTF-8 cannot
+be represented as graph paths; the containing directory (or root) is marked
+unsupported, and REA does not access the entry through a replacement-character
+name. Readable siblings remain inventoried.
 
 JavaScript and TypeScript import parsing requires valid UTF-8. Malformed source
 bytes retain their original hashes and sizes with a decoding diagnostic; REA
-does not infer module targets from replacement characters.
+does not infer module targets from replacement characters. Exact dynamic-import
+strings, expression-free templates and runtime-transparent TypeScript wrappers
+retain their targets; computed imports remain unknown. TypeScript import-equals
+dependencies remain `requires` relationships whether or not they are exported.
 
 Historical-source import requires safe no-follow file opens on Linux or
 macOS. Native Windows returns `unsupported_host`; use Linux REA inside WSL
diff --git a/src/domain/referenceSourceImportParsing.ts b/src/domain/referenceSourceImportParsing.ts
index ac7d90c622..6a9d9f845b 100644
--- a/src/domain/referenceSourceImportParsing.ts
+++ b/src/domain/referenceSourceImportParsing.ts
@@ -152,6 +152,23 @@ const appendRelationship = (
   });
 };
 
+const appendImportEquals = (
+  statement: Node,
+  from_path: string,
+  relationships: ReferenceSourceImportRelationship[],
+  limitations: string[],
+): void => {
+  if (!isTSImportEqualsDeclaration(statement)) return;
+  const reference = statement.moduleReference;
+  if (!isTSExternalModuleReference(reference)) return;
+  appendRelationship(relationships, limitations, {
+    fromPath: from_path,
+    to: safeModuleName(reference.expression),
+    kind: "requires",
+    parseState: "parsed",
+  });
+};
+
 const extractImportDeclarations = (
   body: readonly Node[],
   from_path: string,
@@ -177,7 +194,16 @@ const extractImportDeclarations = (
           kind: "imports",
           parseState: "parsed",
         });
-      }
+      } else if (
+        statement.declaration !== null &&
+        statement.declaration !== undefined
+      )
+        appendImportEquals(
+          statement.declaration,
+          from_path,
+          relationships,
+          limitations,
+        );
       continue;
     }
 
@@ -192,15 +218,7 @@ const extractImportDeclarations = (
     }
 
     if (isTSImportEqualsDeclaration(statement)) {
-      const reference = statement.moduleReference;
-      if (isTSExternalModuleReference(reference)) {
-        appendRelationship(relationships, limitations, {
-          fromPath: from_path,
-          to: safeModuleName(reference.expression),
-          kind: "requires",
-          parseState: "parsed",
-        });
-      }
+      appendImportEquals(statement, from_path, relationships, limitations);
       continue;
     }
 
diff --git a/tests/boundary/cli/referenceSourceExactImports.test.ts b/tests/boundary/cli/referenceSourceExactImports.test.ts
new file mode 100644
index 0000000000..fee6d570fc
--- /dev/null
+++ b/tests/boundary/cli/referenceSourceExactImports.test.ts
@@ -0,0 +1,93 @@
+import { writeFile } from "node:fs/promises";
+import { join } from "node:path";
+
+import { expect } from "vitest";
+
+import { historicalSourceGraphSchema } from "../../../src/domain/referenceSourceGraph.js";
+import { createTestTempDirectory } from "../../fixtures/temporaryDirectory.js";
+import { cliTest } from "../../support/cli/cliFixture.js";
+
+cliTest(
+  "preserves exact historical dynamic and exported import-equals edges",
+  async ({ cli }) => {
+    const root = await createTestTempDirectory("rea-reference-exact-imports-");
+    const config = await createTestTempDirectory(
+      "rea-reference-exact-imports-config-",
+    );
+    await Promise.all([
+      writeFile(
+        join(root, "main.ts"),
+        [
+          "const templated = import(`./template.mjs`);",
+          'const wrapped = import("./wrapped.mjs" as const);',
+          'const name = "./not-guessed.mjs"; import(name);',
+        ].join("\n"),
+      ),
+      writeFile(
+        join(root, "exported.cts"),
+        'export import dep = require("./dep.cjs");\n',
+      ),
+      writeFile(
+        join(root, "plain.cts"),
+        'import dep = require("./dep.cjs"); export { dep };\n',
+      ),
+      ...["template.mjs", "wrapped.mjs"].map((path) =>
+        writeFile(join(root, path), "export {};\n"),
+      ),
+      writeFile(join(root, "dep.cjs"), "module.exports = { value: 1 };\n"),
+    ]);
+
+    const result = await cli.run({
+      arguments: ["import-reference-source", root, "--json"],
+      environment: {
+        HOME: config,
+        XDG_CONFIG_HOME: config,
+        XDG_CACHE_HOME: config,
+      },
+    });
+    expect(result.exitCode, result.stderr + JSON.stringify(result.json)).toBe(
+      0,
+    );
+    const graph = historicalSourceGraphSchema.parse(result.json);
+    expect(graph.relationships).toEqual(
+      expect.arrayContaining([
+        {
+          from_path: "main.ts",
+          to: "template.mjs",
+          kind: "imports",
+          resolution: "internal",
+          parse_state: "parsed",
+        },
+        {
+          from_path: "main.ts",
+          to: "wrapped.mjs",
+          kind: "imports",
+          resolution: "internal",
+          parse_state: "parsed",
+        },
+        {
+          from_path: "main.ts",
+          to: "<dynamic-import>",
+          kind: "imports",
+          resolution: "unknown",
+          parse_state: "partial",
+        },
+        {
+          from_path: "exported.cts",
+          to: "dep.cjs",
+          kind: "requires",
+          resolution: "internal",
+          parse_state: "parsed",
+        },
+        {
+          from_path: "plain.cts",
+          to: "dep.cjs",
+          kind: "requires",
+          resolution: "internal",
+          parse_state: "parsed",
+        },
+      ]),
+    );
+    expect(graph.relationships).toHaveLength(5);
+  },
+);
diff --git a/tests/boundary/filesystem/referenceSourceExportedImportEquals.test.ts b/tests/boundary/filesystem/referenceSourceExportedImportEquals.test.ts
new file mode 100644
index 0000000000..be9d91d19d
--- /dev/null
+++ b/tests/boundary/filesystem/referenceSourceExportedImportEquals.test.ts
@@ -0,0 +1,51 @@
+import { writeFile } from "node:fs/promises";
+import { join } from "node:path";
+
+import { expect, it } from "vitest";
+
+import { createTestTempDirectory } from "../../fixtures/temporaryDirectory.js";
+import { importReferenceSource } from "../../support/referenceSourceResourceScope.js";
+
+it("retains external-module targets from exported and plain import-equals declarations", async () => {
+  const root = await createTestTempDirectory(
+    "rea-reference-exported-import-equals-",
+  );
+  await Promise.all([
+    writeFile(
+      join(root, "exported.cts"),
+      'export import dep = require("./dep.cjs");\n',
+    ),
+    writeFile(
+      join(root, "plain.cts"),
+      'import dep = require("./dep.cjs"); export { dep };\n',
+    ),
+    writeFile(join(root, "dep.cjs"), "module.exports = { value: 1 };\n"),
+  ]);
+
+  const result = await importReferenceSource({
+    root,
+    caller: "reference-exported-import-equals-test",
+    policy: { secretPatterns: [] },
+  });
+  if (!result.ok) throw result.error;
+  expect(result.value.parse_failures).toEqual([]);
+  expect(result.value.relationships).toEqual(
+    expect.arrayContaining([
+      {
+        from_path: "exported.cts",
+        to: "dep.cjs",
+        kind: "requires",
+        resolution: "internal",
+        parse_state: "parsed",
+      },
+      {
+        from_path: "plain.cts",
+        to: "dep.cjs",
+        kind: "requires",
+        resolution: "internal",
+        parse_state: "parsed",
+      },
+    ]),
+  );
+  expect(result.value.relationships).toHaveLength(2);
+});