diff --git a/ghost/admin/app/components/modal-post-history.hbs b/ghost/admin/app/components/modal-post-history.hbs
index cdfca99eb7..941b81b9bc 100644
--- a/ghost/admin/app/components/modal-post-history.hbs
+++ b/ghost/admin/app/components/modal-post-history.hbs
@@ -20,7 +20,15 @@
                         {{/if}}
                     </div>
                 </div>
-                <div class="gh-editor-title" data-test-post-history-preview-title>{{this.currentTitle}}</div>
+                <div class="gh-editor-title" data-test-post-history-preview-title>
+                    {{this.currentTitle}}
+                </div>
+                {{#if (feature "editorSubtitle")}}
+                    <div class="gh-editor-subtitle" data-test-post-history-preview-subtitle>
+                        {{this.selectedRevision.custom_excerpt}}
+                    </div>
+                    <hr class="gh-editor-title-divider">
+                {{/if}}
                 <KoenigLexicalEditor
                     @lexical={{this.selectedRevision.lexical}}
                     @cardConfig={{this.cardConfig}}
diff --git a/ghost/admin/app/components/modal-post-history.js b/ghost/admin/app/components/modal-post-history.js
index 774add0dcb..489b860a7b 100644
--- a/ghost/admin/app/components/modal-post-history.js
+++ b/ghost/admin/app/components/modal-post-history.js
@@ -51,6 +51,7 @@ export default class ModalPostHistory extends Component {
                 latest: index === 0,
                 createdAt: revision.get('createdAt'),
                 title: revision.get('title'),
+                custom_excerpt: revision.get('customExcerpt'),
                 feature_image: revision.get('featureImage'),
                 feature_image_alt: revision.get('featureImageAlt'),
                 feature_image_caption: revision.get('featureImageCaption'),
diff --git a/ghost/admin/app/components/modals/restore-revision.js b/ghost/admin/app/components/modals/restore-revision.js
index e56ba95c9a..69ef9c3d62 100644
--- a/ghost/admin/app/components/modals/restore-revision.js
+++ b/ghost/admin/app/components/modals/restore-revision.js
@@ -4,6 +4,7 @@ import {inject as service} from '@ember/service';
 import {task} from 'ember-concurrency';
 
 export default class RestoreRevisionModal extends Component {
+    @service feature;
     @service notifications;
 
     get title() {
@@ -38,6 +39,10 @@ export default class RestoreRevisionModal extends Component {
             post.featureImageAlt = revision.feature_image_alt;
             post.featureImageCaption = revision.feature_image_caption;
 
+            if (this.feature.editorSubtitle) {
+                post.customExcerpt = revision.custom_excerpt;
+            }
+
             yield post.save({adapterOptions: {saveRevision: true}});
 
             updateTitle();
diff --git a/ghost/admin/app/models/post-revision.js b/ghost/admin/app/models/post-revision.js
index 689811f8c8..c0a42b2e97 100644
--- a/ghost/admin/app/models/post-revision.js
+++ b/ghost/admin/app/models/post-revision.js
@@ -3,6 +3,7 @@ import Model, {attr, belongsTo} from '@ember-data/model';
 export default class PostRevisionModel extends Model {
   @attr('string') lexical;
   @attr('string') title;
+  @attr('string') customExcerpt;
   @attr('string') featureImage;
   @attr('string') featureImageAlt;
   @attr('string') featureImageCaption;
diff --git a/ghost/admin/app/serializers/post-revision.js b/ghost/admin/app/serializers/post-revision.js
index ff94d1e54c..7b281fdd58 100644
--- a/ghost/admin/app/serializers/post-revision.js
+++ b/ghost/admin/app/serializers/post-revision.js
@@ -5,15 +5,6 @@ import {EmbeddedRecordsMixin} from '@ember-data/serializer/rest';
 export default class PostRevisionSerializer extends ApplicationSerializer.extend(EmbeddedRecordsMixin) {
     // settings for the EmbeddedRecordsMixin.
     attrs = {
-        author: {embedded: 'always'},
-        lexical: {key: 'lexical'},
-        title: {key: 'title'},
-        createdAt: {key: 'created_at'},
-        postStatus: {key: 'post_status'},
-        reason: {key: 'reason'},
-        featureImage: {key: 'feature_image'},
-        featureImageAlt: {key: 'feature_image_alt'},
-        featureImageCaption: {key: 'feature_image_caption'},
-        postIdLocal: {key: 'post_id'}
+        author: {embedded: 'always'}
     };
 }
diff --git a/ghost/admin/tests/acceptance/editor/post-revisions-test.js b/ghost/admin/tests/acceptance/editor/post-revisions-test.js
index 2c97fad1b6..13c97ec0c3 100644
--- a/ghost/admin/tests/acceptance/editor/post-revisions-test.js
+++ b/ghost/admin/tests/acceptance/editor/post-revisions-test.js
@@ -1,6 +1,7 @@
 import loginAsRole from '../../helpers/login-as-role';
 import moment from 'moment-timezone';
 import {click, find, findAll} from '@ember/test-helpers';
+import {enableLabsFlag} from '../../helpers/labs-flag';
 import {expect} from 'chai';
 import {setupApplicationTest} from 'ember-mocha';
 import {setupMirage} from 'ember-cli-mirage/test-support';
@@ -19,14 +20,16 @@ describe('Acceptance: Post revisions', function () {
     it('can restore a draft post revision', async function () {
         const post = this.server.create('post', {
             title: 'Current Title',
+            customExcerpt: 'Current excerpt',
             status: 'draft'
         });
         this.server.create('post-revision', {
             post,
             title: post.title,
-            featureImage: post.featureImage,
-            featureImageAlt: post.featureImageAlt,
-            featureImageCaption: post.featureImageCaption,
+            customExcerpt: 'New subtitle',
+            featureImage: 'https://example.com/new-image.jpg',
+            featureImageAlt: 'New feature alt text',
+            featureImageCaption: 'New feature caption',
             postStatus: 'draft',
             author: post.authors.models[0],
             createdAt: moment(post.updatedAt).subtract(1, 'hour'),
@@ -35,9 +38,10 @@ describe('Acceptance: Post revisions', function () {
         this.server.create('post-revision', {
             post,
             title: 'Old Title',
-            featureImage: post.featureImage,
-            featureImageAlt: post.featureImageAlt,
-            featureImageCaption: post.featureImageCaption,
+            customExcerpt: 'Old subtitle',
+            featureImage: 'https://example.com/old-image.jpg',
+            featureImageAlt: 'Old feature alt text',
+            featureImageCaption: 'Old feature caption',
             postStatus: 'draft',
             author: post.authors.models[0],
             createdAt: moment(post.updatedAt).subtract(1, 'day'),
@@ -62,6 +66,12 @@ describe('Acceptance: Post revisions', function () {
 
         // latest post is previewed by default
         expect(find('[data-test-post-history-preview-title]')).to.have.trimmed.text('Current Title');
+        expect(find('[data-test-post-history-preview-feature-image]')).to.have.attribute('src', 'https://example.com/new-image.jpg');
+        expect(find('[data-test-post-history-preview-feature-image]')).to.have.attribute('alt', 'New feature alt text');
+        expect(find('[data-test-post-history-preview-feature-image-caption]')).to.have.trimmed.text('New feature caption');
+
+        // subtitle is not visible (needs feature flag)
+        expect(find('[data-test-post-history-preview-subtitle]')).to.not.exist;
 
         // previous post can be previewed
         await click('[data-test-revision-item="1"] [data-test-button="preview-revision"]');
@@ -74,5 +84,62 @@ describe('Acceptance: Post revisions', function () {
         await click('[data-test-modal="restore-revision"] [data-test-button="restore"]');
         expect(find('[data-test-modal="restore-revision"]')).to.not.exist;
         expect(find('[data-test-editor-title-input]')).to.have.value('Old Title');
+        // post has been saved with correct data
+        expect(post.attrs.title).to.equal('Old Title');
+        expect(post.attrs.featureImage).to.equal('https://example.com/old-image.jpg');
+        expect(post.attrs.featureImageAlt).to.equal('Old feature alt text');
+        expect(post.attrs.featureImageCaption).to.equal('Old feature caption');
+
+        // subtitle (customExcerpt) is not restored (needs feature flag)
+        expect(post.attrs.customExcerpt).to.equal('Current excerpt');
+    });
+
+    it('can preview and restore subtitle (with editorSubtitle feature flag)', async function () {
+        enableLabsFlag(this.server, 'editorSubtitle');
+
+        const post = this.server.create('post', {
+            title: 'Current Title',
+            customExcerpt: 'Current subtitle',
+            status: 'draft'
+        });
+        this.server.create('post-revision', {
+            post,
+            title: post.title,
+            customExcerpt: 'New subtitle',
+            postStatus: 'draft',
+            author: post.authors.models[0],
+            createdAt: moment(post.updatedAt).subtract(1, 'hour'),
+            reason: 'explicit_save'
+        });
+        this.server.create('post-revision', {
+            post,
+            title: 'Old Title',
+            customExcerpt: 'Old subtitle',
+            postStatus: 'draft',
+            author: post.authors.models[0],
+            createdAt: moment(post.updatedAt).subtract(1, 'day'),
+            reason: 'initial_revision'
+        });
+
+        await visit(`/editor/post/${post.id}`);
+
+        // open post history menu
+        await click('[data-test-psm-trigger]');
+        await click('[data-test-toggle="post-history"]');
+
+        // subtitle is visible
+        expect(find('[data-test-post-history-preview-subtitle]')).to.exist;
+        expect(find('[data-test-post-history-preview-subtitle]')).to.have.trimmed.text('New subtitle');
+
+        // previous post can be previewed
+        await click('[data-test-revision-item="1"] [data-test-button="preview-revision"]');
+        expect(find('[data-test-post-history-preview-subtitle]')).to.have.trimmed.text('Old subtitle');
+
+        // previous post can be restored
+        await click('[data-test-revision-item="1"] [data-test-button="restore-revision"]');
+        await click('[data-test-modal="restore-revision"] [data-test-button="restore"]');
+
+        // post has been saved with correct data
+        expect(post.attrs.customExcerpt).to.equal('Old subtitle');
     });
 });
diff --git a/ghost/core/core/server/data/migrations/versions/5.84/2024-06-04-11-10-37-add-custom-excerpt-to-post-revisions.js b/ghost/core/core/server/data/migrations/versions/5.84/2024-06-04-11-10-37-add-custom-excerpt-to-post-revisions.js
new file mode 100644
index 0000000000..44ba3a24cd
--- /dev/null
+++ b/ghost/core/core/server/data/migrations/versions/5.84/2024-06-04-11-10-37-add-custom-excerpt-to-post-revisions.js
@@ -0,0 +1,7 @@
+const {createAddColumnMigration} = require('../../utils');
+
+module.exports = createAddColumnMigration('post_revisions', 'custom_excerpt', {
+    type: 'string',
+    maxlength: 2000,
+    nullable: true
+});
diff --git a/ghost/core/core/server/data/migrations/versions/5.84/2024-06-05-08-42-34-populate-post-revisions-custom-excerpt.js b/ghost/core/core/server/data/migrations/versions/5.84/2024-06-05-08-42-34-populate-post-revisions-custom-excerpt.js
new file mode 100644
index 0000000000..1986c0a1cb
--- /dev/null
+++ b/ghost/core/core/server/data/migrations/versions/5.84/2024-06-05-08-42-34-populate-post-revisions-custom-excerpt.js
@@ -0,0 +1,32 @@
+const logging = require('@tryghost/logging');
+const {createTransactionalMigration} = require('../../utils');
+const DatabaseInfo = require('@tryghost/database-info');
+
+module.exports = createTransactionalMigration(
+    async function up(knex) {
+        logging.info('Populating post_revisions.custom_excerpt with post.excerpt');
+
+        if (DatabaseInfo.isSQLite(knex)) {
+            // SQLite doesn't support JOINs in UPDATE queries
+            await knex.raw(`
+                UPDATE post_revisions
+                SET custom_excerpt = (
+                    SELECT posts.custom_excerpt
+                    FROM posts
+                    WHERE post_revisions.post_id = posts.id
+                )
+            `);
+        } else {
+            await knex.raw(`
+                UPDATE post_revisions
+                JOIN posts ON post_revisions.post_id = posts.id
+                SET post_revisions.custom_excerpt = posts.custom_excerpt
+            `);
+        }
+
+        logging.info('Finished populating post_revisions.custom_excerpt');
+    },
+    async function down() {
+        // Not required
+    }
+);
diff --git a/ghost/core/core/server/data/schema/schema.js b/ghost/core/core/server/data/schema/schema.js
index 815c617113..4b74db297c 100644
--- a/ghost/core/core/server/data/schema/schema.js
+++ b/ghost/core/core/server/data/schema/schema.js
@@ -413,7 +413,8 @@ module.exports = {
         reason: {type: 'string', maxlength: 50, nullable: true},
         feature_image: {type: 'string', maxlength: 2000, nullable: true},
         feature_image_alt: {type: 'string', maxlength: 191, nullable: true, validations: {isLength: {max: 125}}},
-        feature_image_caption: {type: 'text', maxlength: 65535, nullable: true}
+        feature_image_caption: {type: 'text', maxlength: 65535, nullable: true},
+        custom_excerpt: {type: 'string', maxlength: 2000, nullable: true, validations: {isLength: {max: 300}}}
     },
     members: {
         id: {type: 'string', maxlength: 24, nullable: false, primary: true},
diff --git a/ghost/core/core/server/models/post.js b/ghost/core/core/server/models/post.js
index 1651bf5d13..19ad820765 100644
--- a/ghost/core/core/server/models/post.js
+++ b/ghost/core/core/server/models/post.js
@@ -973,6 +973,7 @@ Post = ghostBookshelf.Model.extend({
                     feature_image_alt: model.get('posts_meta')?.feature_image_alt,
                     feature_image_caption: model.get('posts_meta')?.feature_image_caption,
                     title: model.get('title'),
+                    custom_excerpt: model.get('custom_excerpt'),
                     post_status: model.get('status')
                 };
 
diff --git a/ghost/core/test/unit/server/data/schema/integrity.test.js b/ghost/core/test/unit/server/data/schema/integrity.test.js
index a805052d8f..dadce05a1a 100644
--- a/ghost/core/test/unit/server/data/schema/integrity.test.js
+++ b/ghost/core/test/unit/server/data/schema/integrity.test.js
@@ -35,7 +35,7 @@ const validateRouteSettings = require('../../../../../core/server/services/route
  */
 describe('DB version integrity', function () {
     // Only these variables should need updating
-    const currentSchemaHash = '8e52be4cf84cae82a406e5a153ecbd43';
+    const currentSchemaHash = 'e6fff125e9a6cd6167acaf9983a21319';
     const currentFixturesHash = 'a489d615989eab1023d4b8af0ecee7fd';
     const currentSettingsHash = '5c957ceb48c4878767d7d3db484c592d';
     const currentRoutesHash = '3d180d52c663d173a6be791ef411ed01';
diff --git a/ghost/post-revisions/src/PostRevisions.ts b/ghost/post-revisions/src/PostRevisions.ts
index 49d1994894..bbcabc6e2a 100644
--- a/ghost/post-revisions/src/PostRevisions.ts
+++ b/ghost/post-revisions/src/PostRevisions.ts
@@ -7,6 +7,7 @@ type PostLike = {
     feature_image_alt: string | null;
     feature_image_caption: string | null;
     title: string;
+    custom_excerpt: string | null;
     reason: string;
     post_status: string;
 }
@@ -19,6 +20,7 @@ type Revision = {
     feature_image_alt: string | null;
     feature_image_caption: string | null;
     title: string;
+    custom_excerpt: string | null;
     post_status: string;
     reason: string;
     created_at_ts: number;
@@ -71,8 +73,9 @@ export class PostRevisions {
         const featuredImagedHasChanged = latestRevision.feature_image !== current.feature_image;
         const lexicalHasChanged = latestRevision.lexical !== current.lexical;
         const titleHasChanged = latestRevision.title !== current.title;
+        const customExcerptHasChanged = latestRevision.custom_excerpt !== current.custom_excerpt;
         // CASE: we only want to save a revision if something has changed since the previous revision
-        if (lexicalHasChanged || titleHasChanged || featuredImagedHasChanged) {
+        if (lexicalHasChanged || titleHasChanged || featuredImagedHasChanged || customExcerptHasChanged) {
             // CASE: user has explicitly requested a revision by hitting cmd+s or leaving the editor
             if (forceRevision) {
                 return {value: true, reason: 'explicit_save'};
@@ -119,6 +122,7 @@ export class PostRevisions {
             feature_image_alt: input.feature_image_alt,
             feature_image_caption: input.feature_image_caption,
             title: input.title,
+            custom_excerpt: input.custom_excerpt,
             reason: input.reason,
             post_status: input.post_status
         };
diff --git a/ghost/post-revisions/test/PostRevisions.test.ts b/ghost/post-revisions/test/PostRevisions.test.ts
index d9d7e6a262..2c35e0129a 100644
--- a/ghost/post-revisions/test/PostRevisions.test.ts
+++ b/ghost/post-revisions/test/PostRevisions.test.ts
@@ -17,6 +17,7 @@ function makePostLike(data: any = {}) {
         feature_image_alt: data.feature_image_alt || null,
         feature_image_caption: data.feature_image_caption || null,
         title: 'Title',
+        custom_excerpt: 'Subtitle',
         reason: 'reason',
         post_status: 'published'
     }, data);
@@ -33,6 +34,7 @@ function makeRevision(data: any = {}) {
         feature_image_alt: data.feature_image_alt || null,
         feature_image_caption: data.feature_image_caption || null,
         title: 'Title',
+        custom_excerpt: 'Subtitle',
         reason: 'reason',
         post_status: 'published'
     }, data);
@@ -100,6 +102,26 @@ describe('PostRevisions', function () {
             assert.deepEqual(actual, expected);
         });
 
+        it('should return true if the current and previous custom_excerpt values are different and forceRevision is true', function () {
+            const postRevisions = new PostRevisions({config, model: {}});
+
+            const expected = {value: true, reason: 'explicit_save'};
+            const actual = postRevisions.shouldGenerateRevision(makePostLike({
+                lexical: 'blah',
+                html: 'blah',
+                title: 'blah',
+                custom_excerpt: 'blah2'
+            }), [{
+                lexical: 'blah',
+                custom_excerpt: 'not blah'
+            }].map(makeRevision), {
+                forceRevision: true,
+                isPublished: false
+            });
+
+            assert.deepEqual(actual, expected);
+        });
+
         it('should return true if the current and previous feature_image values are different and forceRevision is true', function () {
             const postRevisions = new PostRevisions({config, model: {}});