diff --git a/src/libexpr/eval-cache.cc b/src/libexpr/eval-cache.cc
index afe575fee..1219b2471 100644
--- a/src/libexpr/eval-cache.cc
+++ b/src/libexpr/eval-cache.cc
@@ -300,7 +300,7 @@ struct AttrDb
                 NixStringContext context;
                 if (!queryAttribute.isNull(3))
                     for (auto & s : tokenizeString<std::vector<std::string>>(queryAttribute.getStr(3), ";"))
-                        context.push_back(decodeContext(cfg, s));
+                        context.push_back(NixStringContextElem::parse(cfg, s));
                 return {{rowId, string_t{queryAttribute.getStr(2), context}}};
             }
             case AttrType::Bool:
@@ -592,7 +592,18 @@ string_t AttrCursor::getStringWithContext()
             if (auto s = std::get_if<string_t>(&cachedValue->second)) {
                 bool valid = true;
                 for (auto & c : s->second) {
-                    if (!root->state.store->isValidPath(c.first)) {
+                    const StorePath & path = std::visit(overloaded {
+                        [&](const NixStringContextElem::DrvDeep & d) -> const StorePath & {
+                            return d.drvPath;
+                        },
+                        [&](const NixStringContextElem::Built & b) -> const StorePath & {
+                            return b.drvPath;
+                        },
+                        [&](const NixStringContextElem::Opaque & o) -> const StorePath & {
+                            return o.path;
+                        },
+                    }, c.raw());
+                    if (!root->state.store->isValidPath(path)) {
                         valid = false;
                         break;
                     }
diff --git a/src/libexpr/eval.cc b/src/libexpr/eval.cc
index 978b0f0e2..277cbb5f9 100644
--- a/src/libexpr/eval.cc
+++ b/src/libexpr/eval.cc
@@ -2068,27 +2068,6 @@ std::string_view EvalState::forceString(Value & v, const PosIdx pos, std::string
 }
 
 
-/* Decode a context string ‘!<name>!<path>’ into a pair <path,
-   name>. */
-NixStringContextElem decodeContext(const Store & store, std::string_view s)
-{
-    if (s.at(0) == '!') {
-        size_t index = s.find("!", 1);
-        return {
-            store.parseStorePath(s.substr(index + 1)),
-            std::string(s.substr(1, index - 1)),
-        };
-    } else
-        return {
-            store.parseStorePath(
-                s.at(0) == '/'
-                ? s
-                : s.substr(1)),
-            "",
-        };
-}
-
-
 void copyContext(const Value & v, PathSet & context)
 {
     if (v.string.context)
@@ -2103,7 +2082,7 @@ NixStringContext Value::getContext(const Store & store)
     assert(internalType == tString);
     if (string.context)
         for (const char * * p = string.context; *p; ++p)
-            res.push_back(decodeContext(store, *p));
+            res.push_back(NixStringContextElem::parse(store, *p));
     return res;
 }
 
diff --git a/src/libexpr/eval.hh b/src/libexpr/eval.hh
index 4e0c4db95..46b8cbaa5 100644
--- a/src/libexpr/eval.hh
+++ b/src/libexpr/eval.hh
@@ -551,10 +551,6 @@ struct DebugTraceStacker {
 std::string_view showType(ValueType type);
 std::string showType(const Value & v);
 
-/* Decode a context string ‘!<name>!<path>’ into a pair <path,
-   name>. */
-NixStringContextElem decodeContext(const Store & store, std::string_view s);
-
 /* If `path' refers to a directory, then append "/default.nix". */
 Path resolveExprPath(Path path);
 
diff --git a/src/libexpr/local.mk b/src/libexpr/local.mk
index 016631647..2171e769b 100644
--- a/src/libexpr/local.mk
+++ b/src/libexpr/local.mk
@@ -6,6 +6,7 @@ libexpr_DIR := $(d)
 
 libexpr_SOURCES := \
   $(wildcard $(d)/*.cc) \
+  $(wildcard $(d)/value/*.cc) \
   $(wildcard $(d)/primops/*.cc) \
   $(wildcard $(d)/flake/*.cc) \
   $(d)/lexer-tab.cc \
@@ -37,6 +38,8 @@ clean-files += $(d)/parser-tab.cc $(d)/parser-tab.hh $(d)/lexer-tab.cc $(d)/lexe
 
 $(eval $(call install-file-in, $(d)/nix-expr.pc, $(libdir)/pkgconfig, 0644))
 
+$(foreach i, $(wildcard src/libexpr/value/*.hh), \
+  $(eval $(call install-file-in, $(i), $(includedir)/nix/value, 0644)))
 $(foreach i, $(wildcard src/libexpr/flake/*.hh), \
   $(eval $(call install-file-in, $(i), $(includedir)/nix/flake, 0644)))
 
diff --git a/src/libexpr/primops.cc b/src/libexpr/primops.cc
index 9ef91cbc5..a433e99f0 100644
--- a/src/libexpr/primops.cc
+++ b/src/libexpr/primops.cc
@@ -43,16 +43,32 @@ StringMap EvalState::realiseContext(const PathSet & context)
     std::vector<DerivedPath::Built> drvs;
     StringMap res;
 
-    for (auto & i : context) {
-        auto [ctx, outputName] = decodeContext(*store, i);
-        auto ctxS = store->printStorePath(ctx);
-        if (!store->isValidPath(ctx))
-            debugThrowLastTrace(InvalidPathError(store->printStorePath(ctx)));
-        if (!outputName.empty() && ctx.isDerivation()) {
-            drvs.push_back({ctx, {outputName}});
-        } else {
-            res.insert_or_assign(ctxS, ctxS);
-        }
+    for (auto & c_ : context) {
+        auto ensureValid = [&](const StorePath & p) {
+            if (!store->isValidPath(p))
+                debugThrowLastTrace(InvalidPathError(store->printStorePath(p)));
+        };
+        auto c = NixStringContextElem::parse(*store, c_);
+        std::visit(overloaded {
+            [&](const NixStringContextElem::Built & b) {
+                drvs.push_back(DerivedPath::Built {
+                    .drvPath = b.drvPath,
+                    .outputs = std::set { b.output },
+                });
+                ensureValid(b.drvPath);
+            },
+            [&](const NixStringContextElem::Opaque & o) {
+                auto ctxS = store->printStorePath(o.path);
+                res.insert_or_assign(ctxS, ctxS);
+                ensureValid(o.path);
+            },
+            [&](const NixStringContextElem::DrvDeep & d) {
+                /* Treat same as Opaque */
+                auto ctxS = store->printStorePath(d.drvPath);
+                res.insert_or_assign(ctxS, ctxS);
+                ensureValid(d.drvPath);
+            },
+        }, c.raw());
     }
 
     if (drvs.empty()) return {};
@@ -1179,35 +1195,31 @@ static void prim_derivationStrict(EvalState & state, const PosIdx pos, Value * *
     /* Everything in the context of the strings in the derivation
        attributes should be added as dependencies of the resulting
        derivation. */
-    for (auto & path : context) {
-
-        /* Paths marked with `=' denote that the path of a derivation
-           is explicitly passed to the builder.  Since that allows the
-           builder to gain access to every path in the dependency
-           graph of the derivation (including all outputs), all paths
-           in the graph must be added to this derivation's list of
-           inputs to ensure that they are available when the builder
-           runs. */
-        if (path.at(0) == '=') {
-            /* !!! This doesn't work if readOnlyMode is set. */
-            StorePathSet refs;
-            state.store->computeFSClosure(state.store->parseStorePath(std::string_view(path).substr(1)), refs);
-            for (auto & j : refs) {
-                drv.inputSrcs.insert(j);
-                if (j.isDerivation())
-                    drv.inputDrvs[j] = state.store->readDerivation(j).outputNames();
-            }
-        }
-
-        /* Handle derivation outputs of the form ‘!<name>!<path>’. */
-        else if (path.at(0) == '!') {
-            auto ctx = decodeContext(*state.store, path);
-            drv.inputDrvs[ctx.first].insert(ctx.second);
-        }
-
-        /* Otherwise it's a source file. */
-        else
-            drv.inputSrcs.insert(state.store->parseStorePath(path));
+    for (auto & c_ : context) {
+        auto c = NixStringContextElem::parse(*state.store, c_);
+        std::visit(overloaded {
+            /* Since this allows the builder to gain access to every
+               path in the dependency graph of the derivation (including
+               all outputs), all paths in the graph must be added to
+               this derivation's list of inputs to ensure that they are
+               available when the builder runs. */
+            [&](const NixStringContextElem::DrvDeep & d) {
+                /* !!! This doesn't work if readOnlyMode is set. */
+                StorePathSet refs;
+                state.store->computeFSClosure(d.drvPath, refs);
+                for (auto & j : refs) {
+                    drv.inputSrcs.insert(j);
+                    if (j.isDerivation())
+                        drv.inputDrvs[j] = state.store->readDerivation(j).outputNames();
+                }
+            },
+            [&](const NixStringContextElem::Built & b) {
+                drv.inputDrvs[b.drvPath].insert(b.output);
+            },
+            [&](const NixStringContextElem::Opaque & o) {
+                drv.inputSrcs.insert(o.path);
+            },
+        }, c.raw());
     }
 
     /* Do we have all required attributes? */
diff --git a/src/libexpr/primops/context.cc b/src/libexpr/primops/context.cc
index 9fae0b14d..0c65a6b98 100644
--- a/src/libexpr/primops/context.cc
+++ b/src/libexpr/primops/context.cc
@@ -37,8 +37,15 @@ static void prim_unsafeDiscardOutputDependency(EvalState & state, const PosIdx p
     auto s = state.coerceToString(pos, *args[0], context, "while evaluating the argument passed to builtins.unsafeDiscardOutputDependency");
 
     PathSet context2;
-    for (auto & p : context)
-        context2.insert(p.at(0) == '=' ? std::string(p, 1) : p);
+    for (auto && p : context) {
+        auto c = NixStringContextElem::parse(*state.store, p);
+        if (auto * ptr = std::get_if<NixStringContextElem::DrvDeep>(&c)) {
+            context2.emplace(state.store->printStorePath(ptr->drvPath));
+        } else {
+            /* Can reuse original item */
+            context2.emplace(std::move(p));
+        }
+    }
 
     v.mkString(*s, context2);
 }
@@ -74,34 +81,22 @@ static void prim_getContext(EvalState & state, const PosIdx pos, Value * * args,
     };
     PathSet context;
     state.forceString(*args[0], context, pos, "while evaluating the argument passed to builtins.getContext");
-    auto contextInfos = std::map<Path, ContextInfo>();
+    auto contextInfos = std::map<StorePath, ContextInfo>();
     for (const auto & p : context) {
         Path drv;
         std::string output;
-        const Path * path = &p;
-        if (p.at(0) == '=') {
-            drv = std::string(p, 1);
-            path = &drv;
-        } else if (p.at(0) == '!') {
-            NixStringContextElem ctx = decodeContext(*state.store, p);
-            drv = state.store->printStorePath(ctx.first);
-            output = ctx.second;
-            path = &drv;
-        }
-        auto isPath = drv.empty();
-        auto isAllOutputs = (!drv.empty()) && output.empty();
-
-        auto iter = contextInfos.find(*path);
-        if (iter == contextInfos.end()) {
-            contextInfos.emplace(*path, ContextInfo{isPath, isAllOutputs, output.empty() ? Strings{} : Strings{std::move(output)}});
-        } else {
-            if (isPath)
-                iter->second.path = true;
-            else if (isAllOutputs)
-                iter->second.allOutputs = true;
-            else
-                iter->second.outputs.emplace_back(std::move(output));
-        }
+        NixStringContextElem ctx = NixStringContextElem::parse(*state.store, p);
+        std::visit(overloaded {
+            [&](NixStringContextElem::DrvDeep & d) {
+                contextInfos[d.drvPath].allOutputs = true;
+            },
+            [&](NixStringContextElem::Built & b) {
+                contextInfos[b.drvPath].outputs.emplace_back(std::move(output));
+            },
+            [&](NixStringContextElem::Opaque & o) {
+                contextInfos[o.path].path = true;
+            },
+        }, ctx.raw());
     }
 
     auto attrs = state.buildBindings(contextInfos.size());
@@ -120,7 +115,7 @@ static void prim_getContext(EvalState & state, const PosIdx pos, Value * * args,
             for (const auto & [i, output] : enumerate(info.second.outputs))
                 (outputsVal.listElems()[i] = state.allocValue())->mkString(output);
         }
-        attrs.alloc(info.first).mkAttrs(infoAttrs);
+        attrs.alloc(state.store->printStorePath(info.first)).mkAttrs(infoAttrs);
     }
 
     v.mkAttrs(attrs);
diff --git a/src/libexpr/tests/local.mk b/src/libexpr/tests/local.mk
index b95980cab..e483575a4 100644
--- a/src/libexpr/tests/local.mk
+++ b/src/libexpr/tests/local.mk
@@ -6,7 +6,9 @@ libexpr-tests_DIR := $(d)
 
 libexpr-tests_INSTALL_DIR :=
 
-libexpr-tests_SOURCES := $(wildcard $(d)/*.cc)
+libexpr-tests_SOURCES := \
+    $(wildcard $(d)/*.cc) \
+    $(wildcard $(d)/value/*.cc)
 
 libexpr-tests_CXXFLAGS += -I src/libexpr -I src/libutil -I src/libstore -I src/libexpr/tests
 
diff --git a/src/libexpr/tests/value/context.cc b/src/libexpr/tests/value/context.cc
new file mode 100644
index 000000000..d5c9d3bce
--- /dev/null
+++ b/src/libexpr/tests/value/context.cc
@@ -0,0 +1,72 @@
+#include "value/context.hh"
+
+#include "libexprtests.hh"
+
+namespace nix {
+
+// Testing of trivial expressions
+struct NixStringContextElemTest : public LibExprTest {
+   const Store & store() const {
+       return *LibExprTest::store;
+   }
+};
+
+TEST_F(NixStringContextElemTest, empty_invalid) {
+    EXPECT_THROW(
+        NixStringContextElem::parse(store(), ""),
+        BadNixStringContextElem);
+}
+
+TEST_F(NixStringContextElemTest, single_bang_invalid) {
+    EXPECT_THROW(
+        NixStringContextElem::parse(store(), "!"),
+        BadNixStringContextElem);
+}
+
+TEST_F(NixStringContextElemTest, double_bang_invalid) {
+    EXPECT_THROW(
+        NixStringContextElem::parse(store(), "!!/"),
+        BadStorePath);
+}
+
+TEST_F(NixStringContextElemTest, eq_slash_invalid) {
+    EXPECT_THROW(
+        NixStringContextElem::parse(store(), "=/"),
+        BadStorePath);
+}
+
+TEST_F(NixStringContextElemTest, slash_invalid) {
+    EXPECT_THROW(
+        NixStringContextElem::parse(store(), "/"),
+        BadStorePath);
+}
+
+TEST_F(NixStringContextElemTest, opaque) {
+    std::string_view opaque = "/nix/store/g1w7hy3qg1w7hy3qg1w7hy3qg1w7hy3q-x";
+    auto elem = NixStringContextElem::parse(store(), opaque);
+    auto * p = std::get_if<NixStringContextElem::Opaque>(&elem);
+    ASSERT_TRUE(p);
+    ASSERT_EQ(p->path, store().parseStorePath(opaque));
+    ASSERT_EQ(elem.to_string(store()), opaque);
+}
+
+TEST_F(NixStringContextElemTest, drvDeep) {
+    std::string_view drvDeep = "=/nix/store/g1w7hy3qg1w7hy3qg1w7hy3qg1w7hy3q-x.drv";
+    auto elem = NixStringContextElem::parse(store(), drvDeep);
+    auto * p = std::get_if<NixStringContextElem::DrvDeep>(&elem);
+    ASSERT_TRUE(p);
+    ASSERT_EQ(p->drvPath, store().parseStorePath(drvDeep.substr(1)));
+    ASSERT_EQ(elem.to_string(store()), drvDeep);
+}
+
+TEST_F(NixStringContextElemTest, built) {
+    std::string_view built = "!foo!/nix/store/g1w7hy3qg1w7hy3qg1w7hy3qg1w7hy3q-x.drv";
+    auto elem = NixStringContextElem::parse(store(), built);
+    auto * p = std::get_if<NixStringContextElem::Built>(&elem);
+    ASSERT_TRUE(p);
+    ASSERT_EQ(p->output, "foo");
+    ASSERT_EQ(p->drvPath, store().parseStorePath(built.substr(5)));
+    ASSERT_EQ(elem.to_string(store()), built);
+}
+
+}
diff --git a/src/libexpr/value.hh b/src/libexpr/value.hh
index f57597cff..7d3f6d700 100644
--- a/src/libexpr/value.hh
+++ b/src/libexpr/value.hh
@@ -3,6 +3,7 @@
 #include <cassert>
 
 #include "symbol-table.hh"
+#include "value/context.hh"
 
 #if HAVE_BOEHMGC
 #include <gc/gc_allocator.h>
@@ -67,8 +68,6 @@ class XMLWriter;
 
 typedef int64_t NixInt;
 typedef double NixFloat;
-typedef std::pair<StorePath, std::string> NixStringContextElem;
-typedef std::vector<NixStringContextElem> NixStringContext;
 
 /* External values must descend from ExternalValueBase, so that
  * type-agnostic nix functions (e.g. showType) can be implemented
diff --git a/src/libexpr/value/context.cc b/src/libexpr/value/context.cc
new file mode 100644
index 000000000..61d9c53df
--- /dev/null
+++ b/src/libexpr/value/context.cc
@@ -0,0 +1,67 @@
+#include "value/context.hh"
+#include "store-api.hh"
+
+#include <optional>
+
+namespace nix {
+
+NixStringContextElem NixStringContextElem::parse(const Store & store, std::string_view s0)
+{
+    std::string_view s = s0;
+
+    if (s.size() == 0) {
+        throw BadNixStringContextElem(s0,
+            "String context element should never be an empty string");
+    }
+    switch (s.at(0)) {
+    case '!': {
+        s = s.substr(1); // advance string to parse after first !
+        size_t index = s.find("!");
+        // This makes index + 1 safe. Index can be the length (one after index
+        // of last character), so given any valid character index --- a
+        // successful find --- we can add one.
+        if (index == std::string_view::npos) {
+            throw BadNixStringContextElem(s0,
+                "String content element beginning with '!' should have a second '!'");
+        }
+        return NixStringContextElem::Built {
+            .drvPath = store.parseStorePath(s.substr(index + 1)),
+            .output = std::string(s.substr(0, index)),
+        };
+    }
+    case '=': {
+        return NixStringContextElem::DrvDeep {
+            .drvPath = store.parseStorePath(s.substr(1)),
+        };
+    }
+    default: {
+        return NixStringContextElem::Opaque {
+            .path = store.parseStorePath(s),
+        };
+    }
+    }
+}
+
+std::string NixStringContextElem::to_string(const Store & store) const {
+    return std::visit(overloaded {
+        [&](const NixStringContextElem::Built & b) {
+            std::string res;
+            res += '!';
+            res += b.output;
+            res += '!';
+            res += store.printStorePath(b.drvPath);
+            return res;
+        },
+        [&](const NixStringContextElem::DrvDeep & d) {
+            std::string res;
+            res += '=';
+            res += store.printStorePath(d.drvPath);
+            return res;
+        },
+        [&](const NixStringContextElem::Opaque & o) {
+            return store.printStorePath(o.path);
+        },
+    }, raw());
+}
+
+}
diff --git a/src/libexpr/value/context.hh b/src/libexpr/value/context.hh
new file mode 100644
index 000000000..d8008c436
--- /dev/null
+++ b/src/libexpr/value/context.hh
@@ -0,0 +1,90 @@
+#pragma once
+
+#include "util.hh"
+#include "path.hh"
+
+#include <optional>
+
+#include <nlohmann/json_fwd.hpp>
+
+namespace nix {
+
+class BadNixStringContextElem : public Error
+{
+public:
+    std::string_view raw;
+
+    template<typename... Args>
+    BadNixStringContextElem(std::string_view raw_, const Args & ... args)
+        : Error("")
+    {
+        raw = raw_;
+        auto hf = hintfmt(args...);
+        err.msg = hintfmt("Bad String Context element: %1%: %2%", normaltxt(hf.str()), raw);
+    }
+};
+
+class Store;
+
+/* Plain opaque path to some store object.
+
+   Encoded as just the path: ‘<path>’.
+*/
+struct NixStringContextElem_Opaque {
+   StorePath path;
+};
+
+/* Path to a derivation and its entire build closure.
+
+   The path doesn't just refer to derivation itself and its closure, but
+   also all outputs of all derivations in that closure (including the
+   root derivation).
+
+   Encoded in the form ‘=<drvPath>’.
+*/
+struct NixStringContextElem_DrvDeep {
+   StorePath drvPath;
+};
+
+/* Derivation output.
+
+   Encoded in the form ‘!<output>!<drvPath>’.
+*/
+struct NixStringContextElem_Built {
+   StorePath drvPath;
+   std::string output;
+};
+
+using _NixStringContextElem_Raw = std::variant<
+    NixStringContextElem_Opaque,
+    NixStringContextElem_DrvDeep,
+    NixStringContextElem_Built
+>;
+
+struct NixStringContextElem : _NixStringContextElem_Raw {
+    using Raw = _NixStringContextElem_Raw;
+    using Raw::Raw;
+
+    using Opaque = NixStringContextElem_Opaque;
+    using DrvDeep = NixStringContextElem_DrvDeep;
+    using Built = NixStringContextElem_Built;
+
+    inline const Raw & raw() const {
+        return static_cast<const Raw &>(*this);
+    }
+    inline Raw & raw() {
+        return static_cast<Raw &>(*this);
+    }
+
+    /* Decode a context string, one of:
+       - ‘<path>’
+       - ‘=<path>’
+       - ‘!<name>!<path>’
+      */
+    static NixStringContextElem parse(const Store & store, std::string_view s);
+    std::string to_string(const Store & store) const;
+};
+
+typedef std::vector<NixStringContextElem> NixStringContext;
+
+}
diff --git a/src/nix/app.cc b/src/nix/app.cc
index fb149042c..c9637dcf5 100644
--- a/src/nix/app.cc
+++ b/src/nix/app.cc
@@ -80,17 +80,27 @@ UnresolvedApp Installable::toApp(EvalState & state)
         auto [program, context] = cursor->getAttr("program")->getStringWithContext();
 
         std::vector<DerivedPath> context2;
-        for (auto & [path, name] : context) {
-            context2.push_back(name != "" || path.isDerivation()
-                ? (DerivedPath) DerivedPath::Built {
-                    .drvPath = path,
-                    .outputs = name != ""
-                        ? StringSet { name }
-                        : StringSet { },
-                }
-                : (DerivedPath) DerivedPath::Opaque {
-                    .path = path,
-                });
+        for (auto & c : context) {
+            context2.emplace_back(std::visit(overloaded {
+                [&](const NixStringContextElem::DrvDeep & d) -> DerivedPath {
+                    /* We want all outputs of the drv */
+                    return DerivedPath::Built {
+                        .drvPath = d.drvPath,
+                        .outputs = {},
+                    };
+                },
+                [&](const NixStringContextElem::Built & b) -> DerivedPath {
+                    return DerivedPath::Built {
+                        .drvPath = b.drvPath,
+                        .outputs = { b.output },
+                    };
+                },
+                [&](const NixStringContextElem::Opaque & o) -> DerivedPath {
+                    return DerivedPath::Opaque {
+                        .path = o.path,
+                    };
+                },
+            }, c.raw()));
         }
 
         return UnresolvedApp{App {
diff --git a/src/nix/flake.cc b/src/nix/flake.cc
index bb020d51e..33ce3f401 100644
--- a/src/nix/flake.cc
+++ b/src/nix/flake.cc
@@ -348,7 +348,7 @@ struct CmdFlakeCheck : FlakeCommand
                 // FIXME
                 auto app = App(*state, v);
                 for (auto & i : app.context) {
-                    auto [drvPathS, outputName] = decodeContext(i);
+                    auto [drvPathS, outputName] = NixStringContextElem::parse(i);
                     store->parseStorePath(drvPathS);
                 }
                 #endif
diff --git a/tests/plugins/local.mk b/tests/plugins/local.mk
index 82ad99402..8182a6a83 100644
--- a/tests/plugins/local.mk
+++ b/tests/plugins/local.mk
@@ -8,4 +8,4 @@ libplugintest_ALLOW_UNDEFINED := 1
 
 libplugintest_EXCLUDE_FROM_LIBRARY_LIST := 1
 
-libplugintest_CXXFLAGS := -I src/libutil -I src/libexpr
+libplugintest_CXXFLAGS := -I src/libutil -I src/libstore -I src/libexpr