diff --git a/src/Polly.Core/CircuitBreaker/Controller/CircuitStateController.cs b/src/Polly.Core/CircuitBreaker/Controller/CircuitStateController.cs
index 9076965334d..57d0afca782 100644
--- a/src/Polly.Core/CircuitBreaker/Controller/CircuitStateController.cs
+++ b/src/Polly.Core/CircuitBreaker/Controller/CircuitStateController.cs
@@ -95,7 +95,9 @@ public ValueTask IsolateCircuitAsync(ResilienceContext context)
 
         lock (_lock)
         {
-            SetLastHandledOutcome_NeedsLock(Outcome.FromException<T>(new IsolatedCircuitException()));
+            var exception = new IsolatedCircuitException();
+            _telemetry.UpdateTelemetrySource(exception);
+            SetLastHandledOutcome_NeedsLock(Outcome.FromException<T>(exception));
             OpenCircuitFor_NeedsLock(Outcome.FromResult<T>(default), TimeSpan.MaxValue, manual: true, context, out task);
             _circuitState = CircuitState.Isolated;
         }
@@ -123,7 +125,7 @@ public ValueTask CloseCircuitAsync(ResilienceContext context)
     {
         EnsureNotDisposed();
 
-        Exception? exception = null;
+        BrokenCircuitException? exception = null;
         bool isHalfOpen = false;
 
         Task? task = null;
@@ -157,6 +159,7 @@ public ValueTask CloseCircuitAsync(ResilienceContext context)
 
         if (exception is not null)
         {
+            _telemetry.UpdateTelemetrySource(exception);
             return Outcome.FromException<T>(exception);
         }
 
@@ -308,11 +311,13 @@ private void SetLastHandledOutcome_NeedsLock(Outcome<T> outcome)
     private BrokenCircuitException CreateBrokenCircuitException()
     {
         TimeSpan retryAfter = _blockedUntil - _timeProvider.GetUtcNow();
-        return _breakingException switch
+        BrokenCircuitException exception = _breakingException switch
         {
-            Exception exception => new BrokenCircuitException(BrokenCircuitException.DefaultMessage, retryAfter, exception),
+            Exception ex => new BrokenCircuitException(BrokenCircuitException.DefaultMessage, retryAfter, ex),
             _ => new BrokenCircuitException(BrokenCircuitException.DefaultMessage, retryAfter)
         };
+        _telemetry.UpdateTelemetrySource(exception);
+        return exception;
     }
 
     private void OpenCircuit_NeedsLock(Outcome<T> outcome, bool manual, ResilienceContext context, out Task? scheduledTask)
diff --git a/src/Polly.Core/ExecutionRejectedException.cs b/src/Polly.Core/ExecutionRejectedException.cs
index b5c8e4e0684..3718d30c457 100644
--- a/src/Polly.Core/ExecutionRejectedException.cs
+++ b/src/Polly.Core/ExecutionRejectedException.cs
@@ -2,6 +2,8 @@
 using System.Runtime.Serialization;
 #endif
 
+using Polly.Telemetry;
+
 namespace Polly;
 
 /// <summary>
@@ -49,4 +51,10 @@ protected ExecutionRejectedException(SerializationInfo info, StreamingContext co
     }
 #endif
 #pragma warning restore RS0016 // Add public types and members to the declared API
+
+    /// <summary>
+    /// Gets the source of the strategy which has thrown the exception, if known.
+    /// </summary>
+    public virtual ResilienceTelemetrySource? TelemetrySource { get; internal set; }
+
 }
diff --git a/src/Polly.Core/PublicAPI.Unshipped.txt b/src/Polly.Core/PublicAPI.Unshipped.txt
index 5688e21d398..5101967e54e 100644
--- a/src/Polly.Core/PublicAPI.Unshipped.txt
+++ b/src/Polly.Core/PublicAPI.Unshipped.txt
@@ -3,4 +3,5 @@ Polly.CircuitBreaker.BrokenCircuitException.BrokenCircuitException(string! messa
 Polly.CircuitBreaker.BrokenCircuitException.BrokenCircuitException(string! message, System.TimeSpan retryAfter, System.Exception! inner) -> void
 Polly.CircuitBreaker.BrokenCircuitException.BrokenCircuitException(System.TimeSpan retryAfter) -> void
 Polly.CircuitBreaker.BrokenCircuitException.RetryAfter.get -> System.TimeSpan?
-Polly.Telemetry.ResilienceStrategyTelemetry.AsTelemetrySourceString() -> string!
+virtual Polly.ExecutionRejectedException.TelemetrySource.get -> Polly.Telemetry.ResilienceTelemetrySource?
+Polly.Telemetry.ResilienceStrategyTelemetry.UpdateTelemetrySource(Polly.ExecutionRejectedException! exception) -> void
diff --git a/src/Polly.Core/Telemetry/ResilienceStrategyTelemetry.cs b/src/Polly.Core/Telemetry/ResilienceStrategyTelemetry.cs
index d2a711027ca..1ec34820450 100644
--- a/src/Polly.Core/Telemetry/ResilienceStrategyTelemetry.cs
+++ b/src/Polly.Core/Telemetry/ResilienceStrategyTelemetry.cs
@@ -1,3 +1,5 @@
+using System.ComponentModel;
+
 namespace Polly.Telemetry;
 
 /// <summary>
@@ -22,15 +24,15 @@ internal ResilienceStrategyTelemetry(ResilienceTelemetrySource source, Telemetry
     internal ResilienceTelemetrySource TelemetrySource { get; }
 
     /// <summary>
-    /// Returns a string representation of the source of the telemetry.
+    ///  Updates the source of the telemetry on the provided exception.
     /// </summary>
-    /// <returns>The string representation of the source of the telemetry.</returns>
-    public string AsTelemetrySourceString()
+    /// <param name="exception">The to-be-updated exception.</param>
+    [EditorBrowsable(EditorBrowsableState.Never)]
+    public void UpdateTelemetrySource(ExecutionRejectedException exception)
     {
-        var pipelineName = TelemetrySource?.PipelineName ?? "(null)";
-        var pipelineInstanceName = TelemetrySource?.PipelineInstanceName ?? "(null)";
-        var strategyName = TelemetrySource?.StrategyName ?? "(null)";
-        return $"{pipelineName}/{pipelineInstanceName}/{strategyName}";
+        Guard.NotNull(exception);
+
+        exception.TelemetrySource = TelemetrySource;
     }
 
     /// <summary>
diff --git a/src/Polly.Core/Timeout/TimeoutResilienceStrategy.cs b/src/Polly.Core/Timeout/TimeoutResilienceStrategy.cs
index 5b17fe2d720..e9e304b36b3 100644
--- a/src/Polly.Core/Timeout/TimeoutResilienceStrategy.cs
+++ b/src/Polly.Core/Timeout/TimeoutResilienceStrategy.cs
@@ -74,6 +74,7 @@ protected internal override async ValueTask<Outcome<TResult>> ExecuteCore<TResul
                 timeout,
                 e);
 
+            _telemetry.UpdateTelemetrySource(timeoutException);
             return Outcome.FromException<TResult>(timeoutException.TrySetStackTrace());
         }
 
diff --git a/src/Polly.RateLimiting/PublicAPI.Unshipped.txt b/src/Polly.RateLimiting/PublicAPI.Unshipped.txt
index a4827472041..ab058de62d4 100644
--- a/src/Polly.RateLimiting/PublicAPI.Unshipped.txt
+++ b/src/Polly.RateLimiting/PublicAPI.Unshipped.txt
@@ -1,6 +1 @@
 #nullable enable
-Polly.RateLimiting.RateLimiterRejectedException.RateLimiterRejectedException(string! message, string! telemetrySource) -> void
-Polly.RateLimiting.RateLimiterRejectedException.RateLimiterRejectedException(string! message, string! telemetrySource, System.Exception! inner) -> void
-Polly.RateLimiting.RateLimiterRejectedException.RateLimiterRejectedException(string! message, string! telemetrySource, System.TimeSpan retryAfter) -> void
-Polly.RateLimiting.RateLimiterRejectedException.RateLimiterRejectedException(string! message, string! telemetrySource, System.TimeSpan retryAfter, System.Exception! inner) -> void
-Polly.RateLimiting.RateLimiterRejectedException.TelemetrySource.get -> string?
diff --git a/src/Polly.RateLimiting/RateLimiterRejectedException.cs b/src/Polly.RateLimiting/RateLimiterRejectedException.cs
index c89bdd005f4..d9416332c26 100644
--- a/src/Polly.RateLimiting/RateLimiterRejectedException.cs
+++ b/src/Polly.RateLimiting/RateLimiterRejectedException.cs
@@ -38,15 +38,6 @@ public RateLimiterRejectedException(string message)
     {
     }
 
-    /// <summary>
-    /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
-    /// </summary>
-    /// <param name="message">The message that describes the error.</param>
-    /// <param name="telemetrySource">A string representing the source of the telemetry.</param>
-    public RateLimiterRejectedException(string message, string telemetrySource)
-        : base(message)
-        => TelemetrySource = telemetrySource;
-
     /// <summary>
     /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
     /// </summary>
@@ -56,16 +47,6 @@ public RateLimiterRejectedException(string message, TimeSpan retryAfter)
         : base(message)
         => RetryAfter = retryAfter;
 
-    /// <summary>
-    /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
-    /// </summary>
-    /// <param name="message">The message that describes the error.</param>
-    /// <param name="telemetrySource">A string representing the source of the telemetry.</param>
-    /// <param name="retryAfter">The retry after value.</param>
-    public RateLimiterRejectedException(string message, string telemetrySource, TimeSpan retryAfter)
-        : base(message)
-        => (TelemetrySource, RetryAfter) = (telemetrySource, retryAfter);
-
     /// <summary>
     /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
     /// </summary>
@@ -76,16 +57,6 @@ public RateLimiterRejectedException(string message, Exception inner)
     {
     }
 
-    /// <summary>
-    /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
-    /// </summary>
-    /// <param name="message">The message that describes the error.</param>
-    /// <param name="telemetrySource">A string representing the source of the telemetry.</param>
-    /// <param name="inner">The inner exception.</param>
-    public RateLimiterRejectedException(string message, string telemetrySource, Exception inner)
-        : base(message, inner)
-        => TelemetrySource = telemetrySource;
-
     /// <summary>
     /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
     /// </summary>
@@ -96,17 +67,6 @@ public RateLimiterRejectedException(string message, TimeSpan retryAfter, Excepti
         : base(message, inner)
         => RetryAfter = retryAfter;
 
-    /// <summary>
-    /// Initializes a new instance of the <see cref="RateLimiterRejectedException"/> class.
-    /// </summary>
-    /// <param name="message">The message that describes the error.</param>
-    /// <param name="telemetrySource">A string representing the source of the telemetry.</param>
-    /// <param name="retryAfter">The retry after value.</param>
-    /// <param name="inner">The inner exception.</param>
-    public RateLimiterRejectedException(string message, string telemetrySource, TimeSpan retryAfter, Exception inner)
-        : base(message, inner)
-        => (TelemetrySource, RetryAfter) = (telemetrySource, retryAfter);
-
     /// <summary>
     /// Gets the amount of time to wait before retrying again.
     /// </summary>
@@ -116,11 +76,6 @@ public RateLimiterRejectedException(string message, string telemetrySource, Time
     /// </remarks>
     public TimeSpan? RetryAfter { get; }
 
-    /// <summary>
-    /// Gets the source of the strategy which has thrown the exception, if known.
-    /// </summary>
-    public string? TelemetrySource { get; }
-
 #pragma warning disable RS0016 // Add public types and members to the declared API
 #if !NETCOREAPP
     /// <summary>
@@ -136,12 +91,6 @@ private RateLimiterRejectedException(SerializationInfo info, StreamingContext co
         {
             RetryAfter = TimeSpan.FromSeconds(retryAfter);
         }
-
-        var telemetrySource = info.GetString(nameof(TelemetrySource));
-        if (telemetrySource is not null)
-        {
-            TelemetrySource = telemetrySource;
-        }
     }
 
     /// <inheritdoc/>
@@ -149,7 +98,6 @@ public override void GetObjectData(SerializationInfo info, StreamingContext cont
     {
         Guard.NotNull(info);
 
-        info.AddValue(nameof(TelemetrySource), TelemetrySource ?? "(null)/(null)/(null)");
         info.AddValue(nameof(RetryAfter), RetryAfter.HasValue ? RetryAfter.Value.TotalSeconds : -1.0);
 
         base.GetObjectData(info, context);
diff --git a/src/Polly.RateLimiting/RateLimiterResilienceStrategy.cs b/src/Polly.RateLimiting/RateLimiterResilienceStrategy.cs
index f27159a478f..861350558eb 100644
--- a/src/Polly.RateLimiting/RateLimiterResilienceStrategy.cs
+++ b/src/Polly.RateLimiting/RateLimiterResilienceStrategy.cs
@@ -65,12 +65,11 @@ protected override async ValueTask<Outcome<TResult>> ExecuteCore<TResult, TState
             await OnLeaseRejected(new OnRateLimiterRejectedArguments(context, lease)).ConfigureAwait(context.ContinueOnCapturedContext);
         }
 
-        const string Message = "The operation could not be executed because it was rejected by the rate limiter.";
-        var source = _telemetry.AsTelemetrySourceString();
-
         var exception = retryAfter.HasValue
-            ? new RateLimiterRejectedException($"{Message} It can be retried after '{retryAfter.Value}'.", source, retryAfter.Value)
-            : new RateLimiterRejectedException(Message, source);
+            ? new RateLimiterRejectedException(retryAfter.Value)
+            : new RateLimiterRejectedException();
+
+        _telemetry.UpdateTelemetrySource(exception);
 
         return Outcome.FromException<TResult>(exception.TrySetStackTrace());
     }
diff --git a/test/Polly.Core.Tests/Telemetry/ResilienceStrategyTelemetryTests.cs b/test/Polly.Core.Tests/Telemetry/ResilienceStrategyTelemetryTests.cs
index 247ff203ab6..90b58338be1 100644
--- a/test/Polly.Core.Tests/Telemetry/ResilienceStrategyTelemetryTests.cs
+++ b/test/Polly.Core.Tests/Telemetry/ResilienceStrategyTelemetryTests.cs
@@ -25,27 +25,6 @@ public void Enabled_Ok()
         new ResilienceStrategyTelemetry(_source, null).Enabled.Should().BeFalse();
     }
 
-    [Fact]
-    public void AsTelemetrySourceString_Ok()
-    {
-        var source = new ResilienceTelemetrySource("builder", "instance", "strategy_name");
-        new ResilienceStrategyTelemetry(source, null).AsTelemetrySourceString().Should().Be("builder/instance/strategy_name");
-    }
-
-    [Fact]
-    public void AsTelemetrySourceString_Null_Ok()
-    {
-        ResilienceTelemetrySource? source = null;
-        new ResilienceStrategyTelemetry(source!, null).AsTelemetrySourceString().Should().Be("(null)/(null)/(null)");
-    }
-
-    [Fact]
-    public void AsTelemetrySourceString_Nulls_Ok()
-    {
-        var source = new ResilienceTelemetrySource(null, null, null);
-        new ResilienceStrategyTelemetry(source, null).AsTelemetrySourceString().Should().Be("(null)/(null)/(null)");
-    }
-
     [Fact]
     public void Report_NoOutcome_OK()
     {
diff --git a/test/Polly.RateLimiting.Tests/RateLimiterRejectedExceptionTests.cs b/test/Polly.RateLimiting.Tests/RateLimiterRejectedExceptionTests.cs
index 02af7f8a27e..4239db541ca 100644
--- a/test/Polly.RateLimiting.Tests/RateLimiterRejectedExceptionTests.cs
+++ b/test/Polly.RateLimiting.Tests/RateLimiterRejectedExceptionTests.cs
@@ -4,7 +4,6 @@ namespace Polly.Core.Tests.Timeout;
 
 public class RateLimiterRejectedExceptionTests
 {
-    private readonly string _telemetrySource = "MyPipeline/MyPipelineInstance/MyRateLimiterStrategy";
     private readonly string _message = "dummy";
     private readonly TimeSpan _retryAfter = TimeSpan.FromSeconds(4);
 
@@ -38,16 +37,6 @@ public void Ctor_Message_Ok()
         exception.TelemetrySource.Should().BeNull();
     }
 
-    [Fact]
-    public void Ctor_Message_TelemetrySource_Ok()
-    {
-        var exception = new RateLimiterRejectedException(_message, _telemetrySource);
-        exception.InnerException.Should().BeNull();
-        exception.Message.Should().Be(_message);
-        exception.RetryAfter.Should().BeNull();
-        exception.TelemetrySource.Should().Be(_telemetrySource);
-    }
-
     [Fact]
     public void Ctor_Message_RetryAfter_Ok()
     {
@@ -58,16 +47,6 @@ public void Ctor_Message_RetryAfter_Ok()
         exception.TelemetrySource.Should().BeNull();
     }
 
-    [Fact]
-    public void Ctor_Message_TelemetrySource_RetryAfter_Ok()
-    {
-        var exception = new RateLimiterRejectedException(_message, _telemetrySource, _retryAfter);
-        exception.InnerException.Should().BeNull();
-        exception.Message.Should().Be(_message);
-        exception.RetryAfter.Should().Be(_retryAfter);
-        exception.TelemetrySource.Should().Be(_telemetrySource);
-    }
-
     [Fact]
     public void Ctor_Message_InnerException_Ok()
     {
@@ -78,16 +57,6 @@ public void Ctor_Message_InnerException_Ok()
         exception.TelemetrySource.Should().BeNull();
     }
 
-    [Fact]
-    public void Ctor_Message_TelemetrySource_InnerException_Ok()
-    {
-        var exception = new RateLimiterRejectedException(_message, _telemetrySource, new InvalidOperationException());
-        exception.InnerException.Should().BeOfType<InvalidOperationException>();
-        exception.Message.Should().Be(_message);
-        exception.RetryAfter.Should().BeNull();
-        exception.TelemetrySource.Should().Be(_telemetrySource);
-    }
-
     [Fact]
     public void Ctor_Message_RetryAfter_InnerException_Ok()
     {
@@ -98,16 +67,6 @@ public void Ctor_Message_RetryAfter_InnerException_Ok()
         exception.TelemetrySource.Should().BeNull();
     }
 
-    [Fact]
-    public void Ctor_Message_TelemetrySource_RetryAfter_InnerException_Ok()
-    {
-        var exception = new RateLimiterRejectedException(_message, _telemetrySource, _retryAfter, new InvalidOperationException());
-        exception.InnerException.Should().BeOfType<InvalidOperationException>();
-        exception.Message.Should().Be(_message);
-        exception.RetryAfter.Should().Be(_retryAfter);
-        exception.TelemetrySource.Should().Be(_telemetrySource);
-    }
-
 #if !NETCOREAPP
     [Fact]
     public void BinaryDeserialization_Ok()
@@ -118,9 +77,6 @@ public void BinaryDeserialization_Ok()
 
         result = SerializeAndDeserializeException(new RateLimiterRejectedException());
         result.RetryAfter.Should().BeNull();
-
-        result = SerializeAndDeserializeException(new RateLimiterRejectedException("message", _telemetrySource));
-        result.TelemetrySource.Should().Be(_telemetrySource);
     }
 
     public static T SerializeAndDeserializeException<T>(T exception)