diff --git a/.github/CODEOWNERS b/.github/CODEOWNERS
index d2939e8d47..b8ae808fdb 100644
--- a/.github/CODEOWNERS
+++ b/.github/CODEOWNERS
@@ -53,3 +53,8 @@
 /modules/images/dominant-color-images                                       @pbearne @spacedmonkey
 /tests/modules/images/dominant-color-images                                 @pbearne @spacedmonkey
 /tests/testdata/modules/images/dominant-color-images                        @pbearne @spacedmonkey
+
+# Module: Speculation Rules
+/modules/js-and-css/speculation-rules                                       @felixarntz
+/tests/modules/js-and-css/speculation-rules                                 @felixarntz
+/tests/testdata/modules/js-and-css/speculation-rules                        @felixarntz
diff --git a/modules/js-and-css/speculation-rules/class-plsr-url-pattern-prefixer.php b/modules/js-and-css/speculation-rules/class-plsr-url-pattern-prefixer.php
new file mode 100644
index 0000000000..7f4bd2ea8a
--- /dev/null
+++ b/modules/js-and-css/speculation-rules/class-plsr-url-pattern-prefixer.php
@@ -0,0 +1,93 @@
+<?php
+/**
+ * Class 'PLSR_URL_Pattern_Prefixer'.
+ *
+ * @package performance-lab
+ * @since n.e.x.t
+ */
+
+/**
+ * Class for prefixing URL patterns.
+ *
+ * @since n.e.x.t
+ */
+class PLSR_URL_Pattern_Prefixer {
+
+	/**
+	 * Map of `$context_string => $base_path` pairs.
+	 *
+	 * @since n.e.x.t
+	 * @var array
+	 */
+	private $contexts;
+
+	/**
+	 * Constructor.
+	 *
+	 * @since n.e.x.t
+	 *
+	 * @param array $contexts Optional. Map of `$context_string => $base_path` pairs. Default is the contexts returned
+	 *                        by the {@see PLSR_URL_Pattern_Prefixer::get_default_contexts()} method.
+	 */
+	public function __construct( array $contexts = array() ) {
+		if ( $contexts ) {
+			$this->contexts = array_map( 'trailingslashit', $contexts );
+		} else {
+			$this->contexts = self::get_default_contexts();
+		}
+	}
+
+	/**
+	 * Prefixes the given URL path pattern with the base path for the given context.
+	 *
+	 * This ensures that these path patterns work correctly on WordPress subdirectory sites, for example in a multisite
+	 * network, or when WordPress itself is installed in a subdirectory of the hostname.
+	 *
+	 * The given URL path pattern is only prefixed if it does not already include the expected prefix.
+	 *
+	 * @since n.e.x.t
+	 *
+	 * @param string $path_pattern URL pattern starting with the path segment.
+	 * @param string $context      Optional. Either 'home' (any frontend content) or 'site' (content relative to the
+	 *                             directory that WordPress is installed in). Default 'home'.
+	 * @return string URL pattern, prefixed as necessary.
+	 */
+	public function prefix_path_pattern( string $path_pattern, string $context = 'home' ): string {
+		// If context path does not exist, the context is invalid.
+		if ( ! isset( $this->contexts[ $context ] ) ) {
+			_doing_it_wrong(
+				__FUNCTION__,
+				esc_html(
+					sprintf(
+						/* translators: %s: context string */
+						__( 'Invalid context %s.', 'performance-lab' ),
+						$context
+					)
+				),
+				'Performance Lab n.e.x.t'
+			);
+			return $path_pattern;
+		}
+
+		// If the path already starts with the context path (including '/'), there is nothing to prefix.
+		if ( str_starts_with( $path_pattern, $this->contexts[ $context ] ) ) {
+			return $path_pattern;
+		}
+
+		return $this->contexts[ $context ] . ltrim( $path_pattern, '/' );
+	}
+
+	/**
+	 * Returns the default contexts used by the class.
+	 *
+	 * @since n.e.x.t
+	 *
+	 * @return array Map of `$context_string => $base_path` pairs.
+	 */
+	public static function get_default_contexts(): array {
+		return array(
+			'home' => trailingslashit( wp_parse_url( home_url( '/' ), PHP_URL_PATH ) ),
+			'site' => trailingslashit( wp_parse_url( site_url( '/' ), PHP_URL_PATH ) ),
+		);
+	}
+}
diff --git a/modules/js-and-css/speculation-rules/helper.php b/modules/js-and-css/speculation-rules/helper.php
new file mode 100644
index 0000000000..ffdc19a1ad
--- /dev/null
+++ b/modules/js-and-css/speculation-rules/helper.php
@@ -0,0 +1,91 @@
+<?php
+/**
+ * Helper functions used for Speculation Rules.
+ *
+ * @package performance-lab
+ * @since n.e.x.t
+ */
+
+/**
+ * Returns the speculation rules.
+ *
+ * Plugins with features that rely on frontend URLs to exclude from prefetching or prerendering should use the
+ * {@see 'plsr_speculation_rules_href_exclude_paths'} filter to ensure those URL patterns are excluded.
+ *
+ * @since n.e.x.t
+ *
+ * @return array Associative array of speculation rules by type.
+ */
+function plsr_get_speculation_rules() {
+	$prefixer = new PLSR_URL_Pattern_Prefixer();
+
+	$base_href_exclude_paths = array(
+		$prefixer->prefix_path_pattern( '/wp-login.php', 'site' ),
+		$prefixer->prefix_path_pattern( '/wp-admin/*', 'site' ),
+	);
+	$href_exclude_paths      = $base_href_exclude_paths;
+
+	/**
+	 * Filters the paths for which speculative prerendering should be disabled.
+	 *
+	 * All paths should start in a forward slash, relative to the root document. The `*` can be used as a wildcard.
+	 * By default, the array includes `/wp-login.php` and `/wp-admin/*`.
+	 *
+	 * If the WordPress site is in a subdirectory, the exclude paths will automatically be prefixed as necessary.
+	 *
+	 * @since n.e.x.t
+	 *
+	 * @param array $href_exclude_paths Paths to disable speculative prerendering for.
+	 */
+	$href_exclude_paths = (array) apply_filters( 'plsr_speculation_rules_href_exclude_paths', $href_exclude_paths );
+
+	// Ensure that there are no duplicates and that the base paths cannot be removed.
+	$href_exclude_paths = array_unique(
+		array_map(
+			static function ( $exclude_path ) use ( $prefixer ) {
+				$exclude_path = $prefixer->prefix_path_pattern( $exclude_path );
+
+				/*
+				 * TODO: Remove this eventually as it's no longer needed in Chrome 121+.
+				 * See:
+				 * * https://github.com/whatwg/urlpattern/issues/179
+				 * * https://chromium-review.googlesource.com/c/chromium/src/+/4975595
+				 */
+				return $exclude_path . '\\?*#*';
+			},
+			array_merge(
+				$base_href_exclude_paths,
+				$href_exclude_paths
+			)
+		)
+	);
+
+	$prerender_rules = array(
+		array(
+			'source'    => 'document',
+			'where'     => array(
+				'and' => array(
+					// Prerender any URLs within the same site.
+					array(
+						'href_matches' => $prefixer->prefix_path_pattern( '/*\\?*' ),
+					),
+					// Except for WP login and admin URLs.
+					array(
+						'not' => array(
+							'href_matches' => $href_exclude_paths,
+						),
+					),
+					// And except for any links marked with a class to not prerender.
+					array(
+						'not' => array(
+							'selector_matches' => '.no-prerender',
+						),
+					),
+				),
+			),
+			'eagerness' => 'moderate',
+		),
+	);
+
+	return array( 'prerender' => $prerender_rules );
+}
diff --git a/modules/js-and-css/speculation-rules/hooks.php b/modules/js-and-css/speculation-rules/hooks.php
new file mode 100644
index 0000000000..ab78e0992b
--- /dev/null
+++ b/modules/js-and-css/speculation-rules/hooks.php
@@ -0,0 +1,49 @@
+<?php
+/**
+ * Hook callbacks used for Speculation Rules.
+ *
+ * @package performance-lab
+ * @since n.e.x.t
+ */
+
+/**
+ * Prints the speculation rules.
+ *
+ * For browsers that do not support speculation rules yet, the `script[type="speculationrules"]` tag will be ignored.
+ *
+ * @since n.e.x.t
+ */
+function plsr_print_speculation_rules() {
+	$rules = plsr_get_speculation_rules();
+	if ( empty( $rules ) ) {
+		return;
+	}
+
+	wp_print_inline_script_tag(
+		wp_json_encode( $rules ),
+		array( 'type' => 'speculationrules' )
+	);
+}
+add_action( 'wp_footer', 'plsr_print_speculation_rules' );
+
+/**
+ * Prints the tag to opt in to the Chrome origin trial if the token constant is defined.
+ *
+ * After opting in to the origin trial via https://github.com/WICG/nav-speculation/blob/main/chrome-2023q1-experiment-overview.md,
+ * please set your token in a `PLSR_ORIGIN_TRIAL_TOKEN` constant, e.g. in `wp-config.php`.
+ *
+ * This function is here temporarily and will eventually be removed.
+ *
+ * @since n.e.x.t
+ * @access private
+ * @ignore
+ */
+function plsr_print_origin_trial_opt_in() {
+	if ( ! defined( 'PLSR_ORIGIN_TRIAL_TOKEN' ) || ! PLSR_ORIGIN_TRIAL_TOKEN ) {
+		return;
+	}
+	?>
+	<meta http-equiv="origin-trial" content="<?php echo esc_attr( PLSR_ORIGIN_TRIAL_TOKEN ); ?>">
+	<?php
+}
+add_action( 'wp_head', 'plsr_print_origin_trial_opt_in' );
diff --git a/modules/js-and-css/speculation-rules/load.php b/modules/js-and-css/speculation-rules/load.php
new file mode 100644
index 0000000000..d0f070ca67
--- /dev/null
+++ b/modules/js-and-css/speculation-rules/load.php
@@ -0,0 +1,20 @@
+<?php
+/**
+ * Module Name: Speculation Rules
+ * Description: Uses the Speculation Rules API to prerender linked URLs upon hover.
+ * Experimental: Yes
+ *
+ * @package performance-lab
+ * @since n.e.x.t
+ */
+
+// Define the constant.
+if ( defined( 'SPECULATION_RULES_VERSION' ) ) {
+	return;
+}
+
+define( 'SPECULATION_RULES_VERSION', 'Performance Lab ' . PERFLAB_VERSION );
+
+require_once __DIR__ . '/class-plsr-url-pattern-prefixer.php';
+require_once __DIR__ . '/helper.php';
+require_once __DIR__ . '/hooks.php';
diff --git a/tests/modules/js-and-css/speculation-rules/plsr-url-pattern-prefixer-test.php b/tests/modules/js-and-css/speculation-rules/plsr-url-pattern-prefixer-test.php
new file mode 100644
index 0000000000..6fb3849031
--- /dev/null
+++ b/tests/modules/js-and-css/speculation-rules/plsr-url-pattern-prefixer-test.php
@@ -0,0 +1,69 @@
+<?php
+/**
+ * Tests for PLSR_URL_Pattern_Prefixer class.
+ *
+ * @package performance-lab
+ * @group speculation-rules
+ */
+
+class PLSR_URL_Pattern_Prefixer_Tests extends WP_UnitTestCase {
+
+	/**
+	 * @dataProvider data_prefix_path_pattern
+	 */
+	public function test_prefix_path_pattern( $base_path, $path_pattern, $expected ) {
+		$p = new PLSR_URL_Pattern_Prefixer( array( 'demo' => $base_path ) );
+
+		$this->assertSame(
+			$expected,
+			$p->prefix_path_pattern( $path_pattern, 'demo' )
+		);
+	}
+
+	public function data_prefix_path_pattern() {
+		return array(
+			array( '/', '/my-page/', '/my-page/' ),
+			array( '/', 'my-page/', '/my-page/' ),
+			array( '/wp/', '/my-page/', '/wp/my-page/' ),
+			array( '/wp/', 'my-page/', '/wp/my-page/' ),
+			array( '/wp/', '/blog/2023/11/new-post/', '/wp/blog/2023/11/new-post/' ),
+			array( '/wp/', 'blog/2023/11/new-post/', '/wp/blog/2023/11/new-post/' ),
+			array( '/subdir', '/my-page/', '/subdir/my-page/' ),
+			array( '/subdir', 'my-page/', '/subdir/my-page/' ),
+			// Missing trailing slash still works, does not consider "cut-off" directory names.
+			array( '/subdir', '/subdirectory/my-page/', '/subdir/subdirectory/my-page/' ),
+			array( '/subdir', 'subdirectory/my-page/', '/subdir/subdirectory/my-page/' ),
+		);
+	}
+
+	public function test_get_default_contexts() {
+		$contexts = PLSR_URL_Pattern_Prefixer::get_default_contexts();
+
+		$this->assertArrayHasKey( 'home', $contexts );
+		$this->assertArrayHasKey( 'site', $contexts );
+		$this->assertSame( '/', $contexts['home'] );
+		$this->assertSame( '/', $contexts['site'] );
+	}
+
+	public function test_get_default_contexts_with_subdirectories() {
+		add_filter(
+			'home_url',
+			static function () {
+				return 'https://example.com/subdir/';
+			}
+		);
+		add_filter(
+			'site_url',
+			static function () {
+				return 'https://example.com/subdir/wp/';
+			}
+		);
+
+		$contexts = PLSR_URL_Pattern_Prefixer::get_default_contexts();
+
+		$this->assertArrayHasKey( 'home', $contexts );
+		$this->assertArrayHasKey( 'site', $contexts );
+		$this->assertSame( '/subdir/', $contexts['home'] );
+		$this->assertSame( '/subdir/wp/', $contexts['site'] );
+	}
+}
diff --git a/tests/modules/js-and-css/speculation-rules/speculation-rules-helper-test.php b/tests/modules/js-and-css/speculation-rules/speculation-rules-helper-test.php
new file mode 100644
index 0000000000..7889835985
--- /dev/null
+++ b/tests/modules/js-and-css/speculation-rules/speculation-rules-helper-test.php
@@ -0,0 +1,57 @@
+<?php
+/**
+ * Tests for speculation-rules helper file.
+ *
+ * @package performance-lab
+ * @group speculation-rules
+ */
+
+class Speculation_Rules_Helper_Tests extends WP_UnitTestCase {
+
+	public function test_plsr_get_speculation_rules() {
+		$rules = plsr_get_speculation_rules();
+
+		$this->assertIsArray( $rules );
+		$this->assertArrayHasKey( 'prerender', $rules );
+		$this->assertIsArray( $rules['prerender'] );
+		foreach ( $rules['prerender'] as $entry ) {
+			$this->assertIsArray( $entry );
+			$this->assertArrayHasKey( 'source', $entry );
+			$this->assertTrue( in_array( $entry['source'], array( 'list', 'document' ), true ) );
+		}
+	}
+
+	public function test_plsr_get_speculation_rules_href_exclude_paths() {
+		$rules              = plsr_get_speculation_rules();
+		$href_exclude_paths = $rules['prerender'][0]['where']['and'][1]['not']['href_matches'];
+
+		$this->assertSameSets(
+			array(
+				'/wp-login.php\\?*#*',
+				'/wp-admin/*\\?*#*',
+			),
+			$href_exclude_paths
+		);
+
+		// Add filter that attempts to replace base exclude paths with a custom path to exclude.
+		add_filter(
+			'plsr_speculation_rules_href_exclude_paths',
+			static function () {
+				return array( 'custom-file.php' );
+			}
+		);
+
+		$rules              = plsr_get_speculation_rules();
+		$href_exclude_paths = $rules['prerender'][0]['where']['and'][1]['not']['href_matches'];
+
+		// Ensure the base exclude paths are still present and that the custom path was formatted correctly.
+		$this->assertSameSets(
+			array(
+				'/wp-login.php\\?*#*',
+				'/wp-admin/*\\?*#*',
+				'/custom-file.php\\?*#*'
+			),
+			$href_exclude_paths
+		);
+	}
+}
diff --git a/tests/modules/js-and-css/speculation-rules/speculation-rules-test.php b/tests/modules/js-and-css/speculation-rules/speculation-rules-test.php
new file mode 100644
index 0000000000..8696e4b26f
--- /dev/null
+++ b/tests/modules/js-and-css/speculation-rules/speculation-rules-test.php
@@ -0,0 +1,20 @@
+<?php
+/**
+ * Tests for speculation-rules module.
+ *
+ * @package performance-lab
+ * @group speculation-rules
+ */
+
+class Speculation_Rules_Tests extends WP_UnitTestCase {
+
+	public function test_plsr_print_speculation_rules() {
+		$output = get_echo( 'plsr_print_speculation_rules' );
+
+		// Check the tag.
+		$this->assertStringContainsString( '<script type="speculationrules">', $output );
+
+		// Check that backslashes are correctly included.
+		$this->assertStringContainsString( '\\?*#*', $output );
+	}
+}