diff --git a/Lib/test/test_class.py b/Lib/test/test_class.py
index 7bd6d966e8536b..bd7b78b188ed9a 100644
--- a/Lib/test/test_class.py
+++ b/Lib/test/test_class.py
@@ -1112,5 +1112,31 @@ def test_prepare_preserves_order(self):
         self.assertEqual(list(namespace), ['b', 'a'])
 
 
+    @support.nomemtest
+    @isolation.runInSubprocess()
+    def test_clear_managed_dict_no_memory_keeps_exception(self):
+        # gh-152083: an exception may already be set when the managed dict is
+        # cleared under low memory.  PyErr_FormatUnraisable() must not clear it.
+        import _testcapi
+
+        class A:
+            def __init__(self):
+                self.a = 1
+                self.b = 2
+
+        def f():
+            a = A()
+            a.__dict__
+            return [None] * 1000
+
+        for start in range(120):
+            _testcapi.set_nomemory(start)
+            try:
+                f()
+            except BaseException:
+                pass
+        _testcapi.remove_mem_hooks()
+
+
 if __name__ == '__main__':
     unittest.main()
diff --git a/Misc/NEWS.d/next/Core_and_Builtins/2026-07-03-22-32-58.gh-issue-152083.nSAuhO.rst b/Misc/NEWS.d/next/Core_and_Builtins/2026-07-03-22-32-58.gh-issue-152083.nSAuhO.rst
new file mode 100644
index 00000000000000..b8d3149f7a5cd9
--- /dev/null
+++ b/Misc/NEWS.d/next/Core_and_Builtins/2026-07-03-22-32-58.gh-issue-152083.nSAuhO.rst
@@ -0,0 +1,2 @@
+Fix a crash when an object's managed dictionary is cleared under low memory
+while an exception is set.
diff --git a/Objects/dictobject.c b/Objects/dictobject.c
index 357e714de9a6c0..656b991055aefb 100644
--- a/Objects/dictobject.c
+++ b/Objects/dictobject.c
@@ -8006,6 +8006,9 @@ PyObject_ClearManagedDict(PyObject *obj)
             // values. We need to materialize the keys. Nothing can modify
             // this object, but we need to lock the dictionary.
             int err;
+            // gh-152083: an exception may already be set, so keep it.
+            // The OOM path below reports via PyErr_FormatUnraisable() which clears it.
+            PyObject *exc = PyErr_GetRaisedException();
             Py_BEGIN_CRITICAL_SECTION(dict);
             err = detach_dict_from_object(dict, obj);
             Py_END_CRITICAL_SECTION();
@@ -8025,6 +8028,7 @@ PyObject_ClearManagedDict(PyObject *obj)
                 clear_inline_values(_PyObject_InlineValues(obj));
                 Py_END_CRITICAL_SECTION();
             }
+            PyErr_SetRaisedException(exc);
         }
     }
     Py_CLEAR(_PyObject_ManagedDictPointer(obj)->dict);