diff --git a/Lib/test/test_peepholer.py b/Lib/test/test_peepholer.py
index e0cc010f15513b..abb071451d8b59 100644
--- a/Lib/test/test_peepholer.py
+++ b/Lib/test/test_peepholer.py
@@ -1,3 +1,4 @@
+import ast
 import dis
 import gc
 from itertools import combinations, product
@@ -1131,6 +1132,53 @@ def f(self):
 
 class DirectCfgOptimizerTests(CfgOptimizationTestCase):
 
+    def test_optimize_cfg_const_index_out_of_range(self):
+        insts = [
+            ('LOAD_CONST', 2, 0),
+            ('RETURN_VALUE', None, 0),
+        ]
+        seq = self.seq_from_insts(insts)
+        with self.assertRaisesRegex(ValueError, "out of range"):
+            _testinternalcapi.optimize_cfg(seq, [0, 1], 0)
+
+    def test_optimize_cfg_consts_must_be_list(self):
+        insts = [
+            ('LOAD_CONST', 0, 0),
+            ('RETURN_VALUE', None, 0),
+        ]
+        seq = self.seq_from_insts(insts)
+        with self.assertRaisesRegex(TypeError, "consts must be a list"):
+            _testinternalcapi.optimize_cfg(seq, (0,), 0)
+
+    def test_compiler_codegen_metadata_consts_roundtrips_optimize_cfg(self):
+        tree = ast.parse("x = (1, 2)", mode="exec", optimize=1)
+        insts, meta = _testinternalcapi.compiler_codegen(tree, "<s>", 0)
+        consts = meta["consts"]
+        self.assertIsInstance(consts, list)
+        _testinternalcapi.optimize_cfg(insts, consts, 0)
+
+    def test_compiler_codegen_consts_include_none_required_for_implicit_return(self):
+        # Module "pass" only needs the const table entry for None once
+        # _PyCodegen_AddReturnAtEnd runs. If metadata["consts"] were taken
+        # before that, the list would not match LOAD_CONST opargs (here: 0
+        # for None), and optimize_cfg would read out of range.
+        tree = ast.parse("pass", mode="exec", optimize=1)
+        insts, meta = _testinternalcapi.compiler_codegen(tree, "<s>", 0)
+        consts = meta["consts"]
+        self.assertEqual(consts, [None])
+
+        load_const = opcode.opmap["LOAD_CONST"]
+        self.assertEqual(
+            [t[1] for t in insts.get_instructions() if t[0] == load_const],
+            [0],
+        )
+
+        # As if consts were snapshotted before AddReturnAtEnd: still LOAD_CONST 0, no row.
+        with self.assertRaisesRegex(ValueError, "out of range"):
+            _testinternalcapi.optimize_cfg(insts, [], 0)
+
+        _testinternalcapi.optimize_cfg(insts, list(consts), 0)
+
     def cfg_optimization_test(self, insts, expected_insts,
                               consts=None, expected_consts=None,
                               nlocals=0):
diff --git a/Modules/_testinternalcapi.c b/Modules/_testinternalcapi.c
index deac8570fe3241..619f9f50574429 100644
--- a/Modules/_testinternalcapi.c
+++ b/Modules/_testinternalcapi.c
@@ -1081,13 +1081,17 @@ _testinternalcapi.compiler_codegen -> object
   compile_mode: int = 0
 
 Apply compiler code generation to an AST.
+
+Return (instruction_sequence, metadata).  metadata maps "argcount",
+"posonlyargcount", "kwonlyargcount" to ints and "consts" to the list of
+constants in LOAD_CONST index order (for use with optimize_cfg).
 [clinic start generated code]*/
 
 static PyObject *
 _testinternalcapi_compiler_codegen_impl(PyObject *module, PyObject *ast,
                                         PyObject *filename, int optimize,
                                         int compile_mode)
-/*[clinic end generated code: output=40a68f6e13951cc8 input=a0e00784f1517cd7]*/
+/*[clinic end generated code: output=40a68f6e13951cc8 input=e0c65e5c80efe30e]*/
 {
     PyCompilerFlags *flags = NULL;
     return _PyCompile_CodeGen(ast, filename, flags, optimize, compile_mode);
@@ -1103,12 +1107,15 @@ _testinternalcapi.optimize_cfg -> object
   nlocals: int
 
 Apply compiler optimizations to an instruction list.
+
+consts must be a list aligned with LOAD_CONST opargs (the "consts" entry
+from the metadata dict returned by compiler_codegen for the same unit).
 [clinic start generated code]*/
 
 static PyObject *
 _testinternalcapi_optimize_cfg_impl(PyObject *module, PyObject *instructions,
                                     PyObject *consts, int nlocals)
-/*[clinic end generated code: output=57c53c3a3dfd1df0 input=6a96d1926d58d7e5]*/
+/*[clinic end generated code: output=57c53c3a3dfd1df0 input=905c3d935e063b27]*/
 {
     return _PyCompile_OptimizeCfg(instructions, consts, nlocals);
 }
diff --git a/Modules/clinic/_testinternalcapi.c.h b/Modules/clinic/_testinternalcapi.c.h
index 21f4ee3201e5bf..85edc6fbb5802f 100644
--- a/Modules/clinic/_testinternalcapi.c.h
+++ b/Modules/clinic/_testinternalcapi.c.h
@@ -92,7 +92,11 @@ PyDoc_STRVAR(_testinternalcapi_compiler_codegen__doc__,
 "compiler_codegen($module, /, ast, filename, optimize, compile_mode=0)\n"
 "--\n"
 "\n"
-"Apply compiler code generation to an AST.");
+"Apply compiler code generation to an AST.\n"
+"\n"
+"Return (instruction_sequence, metadata).  metadata maps \"argcount\",\n"
+"\"posonlyargcount\", \"kwonlyargcount\" to ints and \"consts\" to the list of\n"
+"constants in LOAD_CONST index order (for use with optimize_cfg).");
 
 #define _TESTINTERNALCAPI_COMPILER_CODEGEN_METHODDEF    \
     {"compiler_codegen", _PyCFunction_CAST(_testinternalcapi_compiler_codegen), METH_FASTCALL|METH_KEYWORDS, _testinternalcapi_compiler_codegen__doc__},
@@ -169,7 +173,10 @@ PyDoc_STRVAR(_testinternalcapi_optimize_cfg__doc__,
 "optimize_cfg($module, /, instructions, consts, nlocals)\n"
 "--\n"
 "\n"
-"Apply compiler optimizations to an instruction list.");
+"Apply compiler optimizations to an instruction list.\n"
+"\n"
+"consts must be a list aligned with LOAD_CONST opargs (the \"consts\" entry\n"
+"from the metadata dict returned by compiler_codegen for the same unit).");
 
 #define _TESTINTERNALCAPI_OPTIMIZE_CFG_METHODDEF    \
     {"optimize_cfg", _PyCFunction_CAST(_testinternalcapi_optimize_cfg), METH_FASTCALL|METH_KEYWORDS, _testinternalcapi_optimize_cfg__doc__},
@@ -392,4 +399,4 @@ get_next_dict_keys_version(PyObject *module, PyObject *Py_UNUSED(ignored))
 {
     return get_next_dict_keys_version_impl(module);
 }
-/*[clinic end generated code: output=fbd8b7e0cae8bac7 input=a9049054013a1b77]*/
+/*[clinic end generated code: output=ecb5d7ac85b153fa input=a9049054013a1b77]*/
diff --git a/Python/compile.c b/Python/compile.c
index 5f82641a3948c6..eb9fc827bea40a 100644
--- a/Python/compile.c
+++ b/Python/compile.c
@@ -1658,6 +1658,7 @@ _PyCompile_CodeGen(PyObject *ast, PyObject *filename, PyCompilerFlags *pflags,
 {
     PyObject *res = NULL;
     PyObject *metadata = NULL;
+    PyObject *consts_list = NULL;
 
     if (!PyAST_Check(ast)) {
         PyErr_SetString(PyExc_TypeError, "expected an AST");
@@ -1712,12 +1713,23 @@ _PyCompile_CodeGen(PyObject *ast, PyObject *filename, PyCompilerFlags *pflags,
     }
 
     if (_PyInstructionSequence_ApplyLabelMap(_PyCompile_InstrSequence(c)) < 0) {
-        return NULL;
+        goto finally;
+    }
+
+    /* After AddReturnAtEnd: co_consts indices match the final instruction stream. */
+    consts_list = consts_dict_keys_inorder(umd->u_consts);
+    if (consts_list == NULL) {
+        goto finally;
+    }
+    if (PyDict_SetItemString(metadata, "consts", consts_list) < 0) {
+        goto finally;
     }
+
     /* Allocate a copy of the instruction sequence on the heap */
     res = _PyTuple_FromPair((PyObject *)_PyCompile_InstrSequence(c), metadata);
 
 finally:
+    Py_XDECREF(consts_list);
     Py_XDECREF(metadata);
     _PyCompile_ExitScope(c);
     compiler_free(c);
diff --git a/Python/flowgraph.c b/Python/flowgraph.c
index c234fa3d8c3876..202e3bacf2e1bf 100644
--- a/Python/flowgraph.c
+++ b/Python/flowgraph.c
@@ -1309,6 +1309,14 @@ get_const_value(int opcode, int oparg, PyObject *co_consts)
     PyObject *constant = NULL;
     assert(loads_const(opcode));
     if (opcode == LOAD_CONST) {
+        assert(PyList_Check(co_consts));
+        Py_ssize_t n = PyList_GET_SIZE(co_consts);
+        if (oparg < 0 || oparg >= n) {
+            PyErr_Format(PyExc_ValueError,
+                         "LOAD_CONST index %d is out of range for consts (len=%zd)",
+                         oparg, n);
+            return NULL;
+        }
         constant = PyList_GET_ITEM(co_consts, oparg);
     }
     if (opcode == LOAD_SMALL_INT) {
@@ -2167,6 +2175,9 @@ basicblock_optimize_load_const(PyObject *const_cache, basicblock *bb, PyObject *
         cfg_instr *inst = &bb->b_instr[i];
         if (inst->i_opcode == LOAD_CONST) {
             PyObject *constant = get_const_value(inst->i_opcode, inst->i_oparg, consts);
+            if (constant == NULL) {
+                return ERROR;
+            }
             int res = maybe_instr_make_load_smallint(inst, constant, consts, const_cache);
             Py_DECREF(constant);
             if (res < 0) {
@@ -4064,6 +4075,10 @@ _PyCompile_OptimizeCfg(PyObject *seq, PyObject *consts, int nlocals)
         PyErr_SetString(PyExc_ValueError, "expected an instruction sequence");
         return NULL;
     }
+    if (!PyList_Check(consts)) {
+        PyErr_SetString(PyExc_TypeError, "consts must be a list");
+        return NULL;
+    }
     PyObject *const_cache = PyDict_New();
     if (const_cache == NULL) {
         return NULL;