diff --git a/chrome/browser/performance_manager/policies/page_discarding_helper.cc b/chrome/browser/performance_manager/policies/page_discarding_helper.cc
index 1becb533519a4d..6e17c4ec1f381a 100644
--- a/chrome/browser/performance_manager/policies/page_discarding_helper.cc
+++ b/chrome/browser/performance_manager/policies/page_discarding_helper.cc
@@ -235,10 +235,13 @@ PageDiscardingHelper::DiscardMultiplePagesImpl(
         PageNodeImpl::FromNode(node));
 
     // PageNode may be replaced after discard. TabHandle is not replaced after
-    // discard.
-    TabPageDecorator::TabHandle* tab_handle;
+    // discard, but it *can* be destroyed if the discard observer fan-out
+    // synchronously closes the replacement tab; hold a WeakPtr.
+    base::WeakPtr<TabPageDecorator::TabHandle> tab_handle;
     if (!result.first_discard_time.has_value()) {
-      tab_handle = TabPageDecorator::FromPageNode(node);
+      if (auto* handle = TabPageDecorator::FromPageNode(node)) {
+        tab_handle = handle->GetWeakPtr();
+      }
     }
 
     // Do the discard.
diff --git a/components/performance_manager/decorators/tab_page_decorator.cc b/components/performance_manager/decorators/tab_page_decorator.cc
index 1fcbfe52833557..7de9e676589241 100644
--- a/components/performance_manager/decorators/tab_page_decorator.cc
+++ b/components/performance_manager/decorators/tab_page_decorator.cc
@@ -34,6 +34,10 @@ class TabPageDecorator::Data
 TabPageDecorator::TabPageDecorator() = default;
 TabPageDecorator::~TabPageDecorator() = default;
 
+TabPageDecorator::TabHandle::TabHandle(const PageNode* page_node)
+    : page_node_(page_node) {}
+TabPageDecorator::TabHandle::~TabHandle() = default;
+
 void TabPageDecorator::AddObserver(TabPageObserver* observer) {
   DCHECK_CALLED_ON_VALID_SEQUENCE(sequence_checker_);
   observers_.AddObserver(observer);
diff --git a/components/performance_manager/public/decorators/tab_page_decorator.h b/components/performance_manager/public/decorators/tab_page_decorator.h
index eef7554edd028c..7df1e22f231b7c 100644
--- a/components/performance_manager/public/decorators/tab_page_decorator.h
+++ b/components/performance_manager/public/decorators/tab_page_decorator.h
@@ -6,6 +6,7 @@
 #define COMPONENTS_PERFORMANCE_MANAGER_PUBLIC_DECORATORS_TAB_PAGE_DECORATOR_H_
 
 #include "base/memory/raw_ptr.h"
+#include "base/memory/weak_ptr.h"
 #include "base/observer_list.h"
 #include "base/observer_list_types.h"
 #include "base/sequence_checker.h"
@@ -69,17 +70,25 @@ class TabPageDecorator : public PageNodeObserver,
 // associated with the tab.
 class TabPageDecorator::TabHandle {
  public:
+  ~TabHandle();
+
   const PageNode* page_node() const { return page_node_; }
 
+  // Callers that hold a TabHandle* across operations that may run the discard
+  // observer fan-out (which can synchronously close the tab and free this
+  // object) must hold a WeakPtr instead of a raw pointer.
+  base::WeakPtr<TabHandle> GetWeakPtr() { return weak_factory_.GetWeakPtr(); }
+
  private:
   friend class TabPageDecorator::Data;
   friend class TabPageDecorator;
 
-  explicit TabHandle(const PageNode* page_node) : page_node_(page_node) {}
+  explicit TabHandle(const PageNode* page_node);
 
   void SetPageNode(const PageNode* page_node) { page_node_ = page_node; }
 
   raw_ptr<const PageNode> page_node_;
+  base::WeakPtrFactory<TabHandle> weak_factory_{this};
 };
 
 class TabPageObserver : public base::CheckedObserver {