@@ -219,7 +219,10 @@ PACKAGE_RESOLVE(_packageSpecifier_, _parentURL_)
219219> 1. Return the result of **PACKAGE_MAIN_RESOLVE**(_packageURL_,
220220> _pjson_).
221221> 1. Otherwise,
222- > 1. Return the URL resolution of _packageSubpath_ in _packageURL_.
222+ > 1. If **HAS_ESM_PROPERTIES**(_pjson_) is *true*, then
223+ > 1. Return **PACKAGE_EXPORTS_RESOLVE**(_packageURL_, _packagePath_,
224+ > _pjson_).
225+ > 1. Return the URL resolution of _packagePath_ in _packageURL_.
223226> 1. Throw a _Module Not Found_ error.
224227
225228PACKAGE_MAIN_RESOLVE(_packageURL_, _pjson_)
@@ -230,9 +233,58 @@ PACKAGE_MAIN_RESOLVE(_packageURL_, _pjson_)
230233> **LOAD_AS_DIRECTORY** CommonJS resolver to _packageURL_, throwing a
231234> _Module Not Found_ error for no resolution.
232235> 1. Return _mainURL_.
233- > 1. TODO: ESM main handling.
236+ > 1. If _pjson.exports_ is a String, then
237+ > 1. Return the URL of _pjson.exports_ within the parent path _packageURL_.
238+ > 1. Assert: _pjson.exports_ is an Object.
239+ > 1. If _pjson.exports["."]_ is a String, then
240+ > 1. Let _target_ be _pjson.exports["."]_.
241+ > 1. If **IS_VALID_EXPORTS_TARGET**(_target_) is **false**, then
242+ > 1. Emit an _"Invalid Exports Target"_ warning.
243+ > 1. Otherwise,
244+ > 1. Return the URL of _pjson.exports.default_ within the parent path
245+ > _packageURL_.
246+ > 1. Return **null**.
247+
248+ PACKAGE_EXPORTS_RESOLVE(_packageURL_, _packagePath_, _pjson_)
249+ > 1. Assert: _pjson_ is not **null**.
250+ > 1. If _pjson.exports_ is a String, then
251+ > 1. Throw a _Module Not Found_ error.
252+ > 1. Assert: _pjson.exports_ is an Object.
253+ > 1. Set _packagePath_ to _"./"_ concatenated with _packagePath_.
254+ > 1. If _packagePath_ is a key of _pjson.exports_, then
255+ > 1. Let _target_ be the value of _pjson.exports[packagePath]_.
256+ > 1. If **IS_VALID_EXPORTS_TARGET**(_target_) is **false**, then
257+ > 1. Emit an _"Invalid Exports Target"_ warning.
258+ > 1. Throw a _Module Not Found_ error.
259+ > 1. Return the URL resolution of the concatenation of _packageURL_ and
260+ > _target_.
261+ > 1. Let _directoryKeys_ be the list of keys of _pjson.exports_ ending in
262+ > _"/"_, sorted by length descending.
263+ > 1. For each key _directory_ in _directoryKeys_, do
264+ > 1. If _packagePath_ starts with _directory_, then
265+ > 1. Let _target_ be the value of _pjson.exports[directory]_.
266+ > 1. If **IS_VALID_EXPORTS_TARGET**(_target_) is **false** or _target_
267+ > does not end in _"/"_, then
268+ > 1. Emit an _"Invalid Exports Target"_ warning.
269+ > 1. Continue the loop.
270+ > 1. Let _subpath_ be the substring of _target_ starting at the index of
271+ > the length of _directory_.
272+ > 1. Return the URL resolution of the concatenation of _packageURL_,
273+ > _target_ and _subpath_.
234274> 1. Throw a _Module Not Found_ error.
235275
276+ IS_VALID_EXPORTS_TARGET(_target_)
277+ > 1. If _target_ is not a valid String, then
278+ > 1. Return **false**.
279+ > 1. If _target_ does not start with _"./"_, then
280+ > 1. Return **false**.
281+ > 1. If _target_ contains any _".."_ or _"."_ path segments, then
282+ > 1. Return **false**.
283+ > 1. If _target_ contains any percent-encoded characters for _"/"_ or _"\" _,
284+ > then
285+ > 1. Return **false**.
286+ > 1. Return **true**.
287+
236288**ESM_FORMAT(_url_, _isMain_)**
237289> 1. Assert: _url_ corresponds to an existing file.
238290> 1. Let _pjson_ be the result of **READ_PACKAGE_BOUNDARY**(_url_).
@@ -266,7 +318,9 @@ READ_PACKAGE_JSON(_packageURL_)
266318> 1. Return the parsed JSON source of the file at _url_.
267319
268320HAS_ESM_PROPERTIES(_pjson_)
269- > Note: To be specified.
321+ > 1. If _pjson_ is not **null** and _pjson.exports_ is a String or Object, then
322+ > 1. Return *true*.
323+ > 1. Return *false*.
270324
271325[Node.js EP for ES Modules]: https://github.com/nodejs/node-eps/blob/master/002-es-modules.md
272326[` module .createRequireFromPath ()` ]: modules.html#modules_module_createrequirefrompath_filename
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