diff --git a/llvm/include/llvm/IR/Metadata.h b/llvm/include/llvm/IR/Metadata.h
index 35580f3f38c61..df2384c5f6e69 100644
--- a/llvm/include/llvm/IR/Metadata.h
+++ b/llvm/include/llvm/IR/Metadata.h
@@ -1464,6 +1464,8 @@ class MDNode : public Metadata {
   static MDNode *getMergedProfMetadata(MDNode *A, MDNode *B,
                                        const Instruction *AInstr,
                                        const Instruction *BInstr);
+  static MDNode *getMergedMemProfMetadata(MDNode *A, MDNode *B);
+  static MDNode *getMergedCallsiteMetadata(MDNode *A, MDNode *B);
 };
 
 /// Tuple of metadata.
diff --git a/llvm/include/llvm/Transforms/Utils/Local.h b/llvm/include/llvm/Transforms/Utils/Local.h
index bbf29e6f46b47..40c448593807b 100644
--- a/llvm/include/llvm/Transforms/Utils/Local.h
+++ b/llvm/include/llvm/Transforms/Utils/Local.h
@@ -412,6 +412,11 @@ Instruction *removeUnwindEdge(BasicBlock *BB, DomTreeUpdater *DTU = nullptr);
 bool removeUnreachableBlocks(Function &F, DomTreeUpdater *DTU = nullptr,
                              MemorySSAUpdater *MSSAU = nullptr);
 
+/// DO NOT CALL EXTERNALLY.
+/// FIXME: https://github.com/llvm/llvm-project/issues/121495
+/// Once external callers of this function are removed, either inline into
+/// combineMetadataForCSE, or internalize and remove KnownIDs parameter.
+///
 /// Combine the metadata of two instructions so that K can replace J. Some
 /// metadata kinds can only be kept if K does not move, meaning it dominated
 /// J in the original IR.
diff --git a/llvm/lib/Analysis/MemoryProfileInfo.cpp b/llvm/lib/Analysis/MemoryProfileInfo.cpp
index 1c3f589e84941..2f3c87a89f9f9 100644
--- a/llvm/lib/Analysis/MemoryProfileInfo.cpp
+++ b/llvm/lib/Analysis/MemoryProfileInfo.cpp
@@ -347,3 +347,20 @@ template <> uint64_t CallStack<MDNode, MDNode::op_iterator>::back() const {
   return mdconst::dyn_extract<ConstantInt>(N->operands().back())
       ->getZExtValue();
 }
+
+MDNode *MDNode::getMergedMemProfMetadata(MDNode *A, MDNode *B) {
+  // TODO: Support more sophisticated merging, such as selecting the one with
+  // more bytes allocated, or implement support for carrying multiple allocation
+  // leaf contexts. For now, keep the first one.
+  if (A)
+    return A;
+  return B;
+}
+
+MDNode *MDNode::getMergedCallsiteMetadata(MDNode *A, MDNode *B) {
+  // TODO: Support more sophisticated merging, which will require support for
+  // carrying multiple contexts. For now, keep the first one.
+  if (A)
+    return A;
+  return B;
+}
diff --git a/llvm/lib/Transforms/InstCombine/InstCombinePHI.cpp b/llvm/lib/Transforms/InstCombine/InstCombinePHI.cpp
index 1fcf1c570adda..272a1942c3350 100644
--- a/llvm/lib/Transforms/InstCombine/InstCombinePHI.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstCombinePHI.cpp
@@ -788,6 +788,9 @@ Instruction *InstCombinerImpl::foldPHIArgLoadIntoPHI(PHINode &PN) {
     BasicBlock *BB = std::get<0>(Incoming);
     Value *V = std::get<1>(Incoming);
     LoadInst *LI = cast<LoadInst>(V);
+    // FIXME: https://github.com/llvm/llvm-project/issues/121495
+    // Call combineMetadataForCSE instead, so that an explicit set of KnownIDs
+    // doesn't need to be maintained here.
     combineMetadata(NewLI, LI, KnownIDs, true);
     Value *NewInVal = LI->getOperand(0);
     if (NewInVal != InVal)
diff --git a/llvm/lib/Transforms/Scalar/MemCpyOptimizer.cpp b/llvm/lib/Transforms/Scalar/MemCpyOptimizer.cpp
index bb98b3d1c0725..5f7cb92d239bc 100644
--- a/llvm/lib/Transforms/Scalar/MemCpyOptimizer.cpp
+++ b/llvm/lib/Transforms/Scalar/MemCpyOptimizer.cpp
@@ -345,10 +345,14 @@ static bool writtenBetween(MemorySSA *MSSA, BatchAAResults &AA,
 static void combineAAMetadata(Instruction *ReplInst, Instruction *I) {
   // FIXME: MD_tbaa_struct and MD_mem_parallel_loop_access should also be
   // handled here, but combineMetadata doesn't support them yet
-  unsigned KnownIDs[] = {LLVMContext::MD_tbaa, LLVMContext::MD_alias_scope,
-                         LLVMContext::MD_noalias,
-                         LLVMContext::MD_invariant_group,
-                         LLVMContext::MD_access_group};
+  unsigned KnownIDs[] = {
+      LLVMContext::MD_tbaa,         LLVMContext::MD_alias_scope,
+      LLVMContext::MD_noalias,      LLVMContext::MD_invariant_group,
+      LLVMContext::MD_access_group, LLVMContext::MD_prof,
+      LLVMContext::MD_memprof,      LLVMContext::MD_callsite};
+  // FIXME: https://github.com/llvm/llvm-project/issues/121495
+  // Use custom AA metadata combining handling instead of combineMetadata, which
+  // is meant for CSE and will drop any metadata not in the KnownIDs list.
   combineMetadata(ReplInst, I, KnownIDs, true);
 }
 
diff --git a/llvm/lib/Transforms/Utils/Local.cpp b/llvm/lib/Transforms/Utils/Local.cpp
index a3af96d5af026..1e4061cb0771e 100644
--- a/llvm/lib/Transforms/Utils/Local.cpp
+++ b/llvm/lib/Transforms/Utils/Local.cpp
@@ -3308,6 +3308,9 @@ bool llvm::removeUnreachableBlocks(Function &F, DomTreeUpdater *DTU,
   return Changed;
 }
 
+// FIXME: https://github.com/llvm/llvm-project/issues/121495
+// Once external callers of this function are removed, either inline into
+// combineMetadataForCSE, or internalize and remove KnownIDs parameter.
 void llvm::combineMetadata(Instruction *K, const Instruction *J,
                            ArrayRef<unsigned> KnownIDs, bool DoesKMove) {
   SmallVector<std::pair<unsigned, MDNode *>, 4> Metadata;
@@ -3320,6 +3323,10 @@ void llvm::combineMetadata(Instruction *K, const Instruction *J,
 
     switch (Kind) {
       default:
+        // FIXME: https://github.com/llvm/llvm-project/issues/121495
+        // Change to removing only explicitly listed other metadata, and assert
+        // on unknown metadata, to avoid inadvertently dropping newly added
+        // metadata types.
         K->setMetadata(Kind, nullptr); // Remove unknown metadata
         break;
       case LLVMContext::MD_dbg:
@@ -3379,6 +3386,12 @@ void llvm::combineMetadata(Instruction *K, const Instruction *J,
           K->setMetadata(Kind,
             MDNode::getMostGenericAlignmentOrDereferenceable(JMD, KMD));
         break;
+      case LLVMContext::MD_memprof:
+        K->setMetadata(Kind, MDNode::getMergedMemProfMetadata(KMD, JMD));
+        break;
+      case LLVMContext::MD_callsite:
+        K->setMetadata(Kind, MDNode::getMergedCallsiteMetadata(KMD, JMD));
+        break;
       case LLVMContext::MD_preserve_access_index:
         // Preserve !preserve.access.index in K.
         break;
@@ -3442,7 +3455,9 @@ void llvm::combineMetadataForCSE(Instruction *K, const Instruction *J,
                          LLVMContext::MD_nontemporal,
                          LLVMContext::MD_noundef,
                          LLVMContext::MD_mmra,
-                         LLVMContext::MD_noalias_addrspace};
+                         LLVMContext::MD_noalias_addrspace,
+                         LLVMContext::MD_memprof,
+                         LLVMContext::MD_callsite};
   combineMetadata(K, J, KnownIDs, KDominatesJ);
 }
 
diff --git a/llvm/test/Transforms/MemCpyOpt/memcpy.ll b/llvm/test/Transforms/MemCpyOpt/memcpy.ll
index 39b90adc74ef3..65d78f4199aa0 100644
--- a/llvm/test/Transforms/MemCpyOpt/memcpy.ll
+++ b/llvm/test/Transforms/MemCpyOpt/memcpy.ll
@@ -803,6 +803,19 @@ define void @byval_param_noalias_metadata(ptr align 4 byval(i32) %ptr) {
   ret void
 }
 
+define void @byval_param_profile_metadata(ptr align 4 byval(i32) %ptr) {
+; CHECK-LABEL: @byval_param_profile_metadata(
+; CHECK-NEXT:    store i32 1, ptr [[PTR2:%.*]], align 4
+; CHECK-NEXT:    call void @f_byval(ptr byval(i32) align 4 [[PTR2]]), !prof [[PROF3:![0-9]+]], !memprof [[META4:![0-9]+]], !callsite [[META7:![0-9]+]]
+; CHECK-NEXT:    ret void
+;
+  %tmp = alloca i32, align 4
+  store i32 1, ptr %ptr
+  call void @llvm.memcpy.p0.p0.i64(ptr align 4 %tmp, ptr align 4 %ptr, i64 4, i1 false)
+  call void @f_byval(ptr align 4 byval(i32) %tmp), !memprof !3, !callsite !6, !prof !7
+  ret void
+}
+
 define void @memcpy_memory_none(ptr %p, ptr %p2, i64 %size) {
 ; CHECK-LABEL: @memcpy_memory_none(
 ; CHECK-NEXT:    call void @llvm.memcpy.p0.p0.i64(ptr [[P:%.*]], ptr [[P2:%.*]], i64 [[SIZE:%.*]], i1 false) #[[ATTR7:[0-9]+]]
@@ -897,3 +910,8 @@ define void @memcpy_immut_escape_after(ptr align 4 noalias %val) {
 !0 = !{!0}
 !1 = !{!1, !0}
 !2 = !{!1}
+!3 = !{!4}
+!4 = !{!5, !"cold"}
+!5 = !{i64 123, i64 456}
+!6 = !{i64 123}
+!7 = !{!"branch_weights", i32 10}
diff --git a/llvm/test/Transforms/SimplifyCFG/merge-calls-memprof.ll b/llvm/test/Transforms/SimplifyCFG/merge-calls-memprof.ll
new file mode 100644
index 0000000000000..10c6aeb26ba76
--- /dev/null
+++ b/llvm/test/Transforms/SimplifyCFG/merge-calls-memprof.ll
@@ -0,0 +1,51 @@
+; NOTE: Assertions have been autogenerated by utils/update_test_checks.py UTC_ARGS: --version 5
+
+;; Test to ensure that memprof related metadata is not dropped when
+;; instructions are combined. Currently the metadata from the first instruction
+;; is kept, which prevents full loss of profile context information.
+
+; RUN: opt < %s -passes=simplifycfg -S | FileCheck %s
+
+target datalayout = "e-m:e-p270:32:32-p271:32:32-p272:64:64-i64:64-i128:128-f80:128-n8:16:32:64-S128"
+target triple = "x86_64-unknown-linux-gnu"
+
+define dso_local noundef nonnull ptr @_Z4testb(i1 noundef zeroext %b) local_unnamed_addr #0 {
+; CHECK-LABEL: define dso_local noundef nonnull ptr @_Z4testb(
+; CHECK-SAME: i1 noundef zeroext [[B:%.*]]) local_unnamed_addr {
+; CHECK-NEXT:  [[ENTRY:.*:]]
+; CHECK-NEXT:    [[CALL:%.*]] = call noalias noundef nonnull dereferenceable(4) ptr @_Znwm(i64 noundef 4), !memprof [[META0:![0-9]+]], !callsite [[META3:![0-9]+]]
+; CHECK-NEXT:    ret ptr [[CALL]]
+;
+entry:
+  br i1 %b, label %if.then, label %if.else
+
+if.then:                                          ; preds = %entry
+  %call = call noalias noundef nonnull dereferenceable(4) ptr @_Znwm(i64 noundef 4), !memprof !0, !callsite !3
+  br label %if.end
+
+if.else:                                          ; preds = %entry
+  %call1 = call noalias noundef nonnull dereferenceable(4) ptr @_Znwm(i64 noundef 4), !memprof !4, !callsite !7
+  br label %if.end
+
+if.end:                                           ; preds = %if.else, %if.then
+  %x.0 = phi ptr [ %call, %if.then ], [ %call1, %if.else ]
+  ret ptr %x.0
+}
+
+
+declare ptr @_Znwm(i64) nounwind readonly
+
+!0 = !{!1}
+!1 = !{!2, !"notcold"}
+!2 = !{i64 -852997907418798798, i64 -2101080423462424381, i64 5188446645037944434}
+!3 = !{i64 -852997907418798798}
+!4 = !{!5}
+!5 = !{!6, !"cold"}
+!6 = !{i64 123, i64 -2101080423462424381, i64 5188446645037944434}
+!7 = !{i64 123}
+;.
+; CHECK: [[META0]] = !{[[META1:![0-9]+]]}
+; CHECK: [[META1]] = !{[[META2:![0-9]+]], !"notcold"}
+; CHECK: [[META2]] = !{i64 -852997907418798798, i64 -2101080423462424381, i64 5188446645037944434}
+; CHECK: [[META3]] = !{i64 -852997907418798798}
+;.