diff --git a/gcc/cp/module.cc b/gcc/cp/module.cc
index 8efa18baff1..5ff5c462e79 100644
--- a/gcc/cp/module.cc
+++ b/gcc/cp/module.cc
@@ -12164,7 +12164,8 @@ trees_in::is_matching_decl (tree existing, tree decl, bool is_typedef)
 		}
 	    }
 	}
-      else if (!DEFERRED_NOEXCEPT_SPEC_P (d_spec)
+      else if (!DECL_MAYBE_DELETED (d_inner)
+	       && !DEFERRED_NOEXCEPT_SPEC_P (d_spec)
 	       && !comp_except_specs (d_spec, e_spec, ce_type))
 	{
 	  mismatch_msg = G_("conflicting %<noexcept%> specifier for "
@@ -12195,6 +12196,8 @@ trees_in::is_matching_decl (tree existing, tree decl, bool is_typedef)
       if (DECL_MAYBE_DELETED (e_inner) && !DECL_MAYBE_DELETED (d_inner)
 	  && DECL_DECLARED_CONSTEXPR_P (d_inner))
 	DECL_DECLARED_CONSTEXPR_P (e_inner) = true;
+      else if (!DECL_MAYBE_DELETED (e_inner) && DECL_MAYBE_DELETED (d_inner))
+	/* Nothing to do.  */;
       else if (DECL_DECLARED_CONSTEXPR_P (e_inner)
 	       != DECL_DECLARED_CONSTEXPR_P (d_inner))
 	{
diff --git a/gcc/testsuite/g++.dg/modules/noexcept-4_a.H b/gcc/testsuite/g++.dg/modules/noexcept-4_a.H
new file mode 100644
index 00000000000..b888a1b93e6
--- /dev/null
+++ b/gcc/testsuite/g++.dg/modules/noexcept-4_a.H
@@ -0,0 +1,6 @@
+// { dg-additional-options "-fmodule-header -std=c++20" }
+// { dg-module-cmi {} }
+
+struct exception_ptr {
+  friend bool operator==(const exception_ptr&, const exception_ptr&) = default;
+};
diff --git a/gcc/testsuite/g++.dg/modules/noexcept-4_b.C b/gcc/testsuite/g++.dg/modules/noexcept-4_b.C
new file mode 100644
index 00000000000..7cc55316c7c
--- /dev/null
+++ b/gcc/testsuite/g++.dg/modules/noexcept-4_b.C
@@ -0,0 +1,18 @@
+// { dg-additional-options "-fmodules -std=c++20" }
+
+struct exception_ptr {
+  friend bool operator==(const exception_ptr&, const exception_ptr&) = default;
+};
+
+void enqueue() {
+  exception_ptr e;
+  e == e;
+}
+
+import "noexcept-4_a.H";
+
+int main() {
+  constexpr exception_ptr e;
+  static_assert(e == e);
+  static_assert(noexcept(e == e));
+}