diff --git a/packages/agent/src/agent.ts b/packages/agent/src/agent.ts
index 92af2c791..ee8e6e591 100644
--- a/packages/agent/src/agent.ts
+++ b/packages/agent/src/agent.ts
@@ -119,6 +119,7 @@ export interface AgentOptions {
 	getApiKey?: (provider: string) => Promise<string | undefined> | string | undefined;
 	onPayload?: SimpleStreamOptions["onPayload"];
 	onResponse?: SimpleStreamOptions["onResponse"];
+	onProviderStreamEvent?: SimpleStreamOptions["onProviderStreamEvent"];
 	beforeToolCall?: (context: BeforeToolCallContext, signal?: AbortSignal) => Promise<BeforeToolCallResult | undefined>;
 	afterToolCall?: (context: AfterToolCallContext, signal?: AbortSignal) => Promise<AfterToolCallResult | undefined>;
 	finishTurn?: FinishTurn;
@@ -196,6 +197,7 @@ export class Agent {
 	public getApiKey?: (provider: string) => Promise<string | undefined> | string | undefined;
 	public onPayload?: SimpleStreamOptions["onPayload"];
 	public onResponse?: SimpleStreamOptions["onResponse"];
+	public onProviderStreamEvent?: SimpleStreamOptions["onProviderStreamEvent"];
 	public beforeToolCall?: (
 		context: BeforeToolCallContext,
 		signal?: AbortSignal,
@@ -235,6 +237,7 @@ export class Agent {
 		this.getApiKey = runtimeOptions.getApiKey;
 		this.onPayload = runtimeOptions.onPayload;
 		this.onResponse = runtimeOptions.onResponse;
+		this.onProviderStreamEvent = runtimeOptions.onProviderStreamEvent;
 		this.beforeToolCall = runtimeOptions.beforeToolCall;
 		this.afterToolCall = runtimeOptions.afterToolCall;
 		this.finishTurn = runtimeOptions.finishTurn;
@@ -469,6 +472,7 @@ export class Agent {
 			sessionId: this.sessionId,
 			onPayload: this.onPayload,
 			onResponse: this.onResponse,
+			onProviderStreamEvent: this.onProviderStreamEvent,
 			transport: this.transport,
 			thinkingBudgets: this.thinkingBudgets,
 			maxRetryDelayMs: this.maxRetryDelayMs,
diff --git a/packages/agent/test/agent.test.ts b/packages/agent/test/agent.test.ts
index bed5dd427..2a339944e 100644
--- a/packages/agent/test/agent.test.ts
+++ b/packages/agent/test/agent.test.ts
@@ -1166,6 +1166,28 @@ describe("Agent", () => {
 		expect(agent.peekQueuedMessages()).toEqual([followUp]);
 	});
 
+	it("forwards provider stream event observers through AgentOptions", async () => {
+		const providerEvents: unknown[] = [];
+		const agent = new Agent({
+			onProviderStreamEvent: (data) => {
+				providerEvents.push(data);
+			},
+			streamFn: (model, _context, options) => {
+				const stream = new MockAssistantStream();
+				queueMicrotask(async () => {
+					await options?.onProviderStreamEvent?.({ request_cost: 0.01 }, model);
+					const message = createAssistantMessage("ok");
+					stream.push({ type: "done", reason: "stop", message });
+				});
+				return stream;
+			},
+		});
+
+		await agent.prompt("hello");
+
+		expect(providerEvents).toEqual([{ request_cost: 0.01 }]);
+	});
+
 	it("forwards sessionId to streamFunction options", async () => {
 		let receivedSessionId: string | undefined;
 		const agent = new Agent({
diff --git a/packages/ai/CHANGELOG.md b/packages/ai/CHANGELOG.md
index 3fd01039a..8ff552c5f 100644
--- a/packages/ai/CHANGELOG.md
+++ b/packages/ai/CHANGELOG.md
@@ -2,6 +2,10 @@
 
 ## [Unreleased]
 
+### Added
+
+- Added `onProviderStreamEvent` to observe parsed provider stream events before normalization, including provider-specific fields not retained in assistant messages ([#9784](https://github.com/earendil-works/pi/issues/9784)).
+
 ## [0.87.1] - 2026-09-22
 
 ### Added
diff --git a/packages/ai/README.md b/packages/ai/README.md
index 7395672ff..e5f19c4d0 100644
--- a/packages/ai/README.md
+++ b/packages/ai/README.md
@@ -38,6 +38,7 @@ Unified LLM API with provider collections, automatic auth resolution, token and
   - [Aborting Requests](#aborting-requests)
   - [Continuing After Abort](#continuing-after-abort)
   - [Debugging Provider Payloads](#debugging-provider-payloads)
+  - [Observing Provider Stream Events](#observing-provider-stream-events)
 - [Custom Providers](#custom-providers)
   - [createProvider()](#createprovider)
   - [Calling API Implementations Directly](#calling-api-implementations-directly)
@@ -1030,6 +1031,25 @@ const response = await models.complete(model, context, {
 
 The callback is supported by `stream`, `complete`, `streamSimple`, and `completeSimple`.
 
+### Observing Provider Stream Events
+
+Use `onProviderStreamEvent` to inspect provider-specific fields that Pi does not include in `AssistantMessage`. The callback receives the parsed event available to the adapter before Pi normalizes it. Treat the event as read-only because mutations can affect normalization. This is not guaranteed to be the original HTTP bytes or SSE frame.
+
+```typescript
+const openRouterModel = models.getModel('openrouter', 'openrouter/auto')!;
+const response = await models.complete(openRouterModel, context, {
+  headers: { "X-OpenRouter-Metadata": "enabled" },
+  onProviderStreamEvent: (data) => {
+    const chunk = data as Record<string, unknown>;
+    if (chunk.openrouter_metadata) {
+      console.log(chunk.openrouter_metadata);
+    }
+  },
+});
+```
+
+Callbacks are awaited in stream order, so slow callbacks delay stream consumption and thrown errors fail the request. SDK-backed adapters can expose only fields retained by their SDK.
+
 ## Custom Providers
 
 ### createProvider()
diff --git a/packages/ai/src/api/anthropic-messages.ts b/packages/ai/src/api/anthropic-messages.ts
index f25b2b11d..a935e01c5 100644
--- a/packages/ai/src/api/anthropic-messages.ts
+++ b/packages/ai/src/api/anthropic-messages.ts
@@ -599,6 +599,7 @@ export const stream: StreamFunction<"anthropic-messages", AnthropicOptions> = (
 			const blocks = output.content as Block[];
 
 			for await (const event of iterateAnthropicEvents(response, options?.signal)) {
+				await options?.onProviderStreamEvent?.(event, model);
 				if (event.type === "message_start") {
 					output.responseId = event.message.id;
 					const transformations = event.message.input_transformations;
diff --git a/packages/ai/src/api/azure-openai-responses.ts b/packages/ai/src/api/azure-openai-responses.ts
index b275d9f75..558f683ce 100644
--- a/packages/ai/src/api/azure-openai-responses.ts
+++ b/packages/ai/src/api/azure-openai-responses.ts
@@ -130,7 +130,10 @@ export const stream: StreamFunction<"azure-openai-responses", AzureOpenAIRespons
 			await options?.onResponse?.({ status: response.status, headers: headersToRecord(response.headers) }, model);
 			stream.push({ type: "start", partial: output });
 
-			await processResponsesStream(openaiStream, output, stream, model, { grammarToolInputProperties });
+			await processResponsesStream(openaiStream, output, stream, model, {
+				onProviderStreamEvent: options?.onProviderStreamEvent,
+				grammarToolInputProperties,
+			});
 
 			if (options?.signal?.aborted) {
 				throw new Error("Request was aborted");
diff --git a/packages/ai/src/api/bedrock-converse-stream.ts b/packages/ai/src/api/bedrock-converse-stream.ts
index ee66b4599..74f32f5ee 100644
--- a/packages/ai/src/api/bedrock-converse-stream.ts
+++ b/packages/ai/src/api/bedrock-converse-stream.ts
@@ -294,6 +294,7 @@ export const stream: StreamFunction<"bedrock-converse-stream", BedrockOptions> =
 			}
 
 			for await (const item of response.stream!) {
+				await options.onProviderStreamEvent?.(item, model);
 				if (item.messageStart) {
 					if (item.messageStart.role !== ConversationRole.ASSISTANT) {
 						throw new Error("Unexpected assistant message start but got user message start instead");
diff --git a/packages/ai/src/api/google-generative-ai.ts b/packages/ai/src/api/google-generative-ai.ts
index 177e92af2..24fe9134c 100644
--- a/packages/ai/src/api/google-generative-ai.ts
+++ b/packages/ai/src/api/google-generative-ai.ts
@@ -104,6 +104,7 @@ export const stream: StreamFunction<"google-generative-ai", GoogleOptions> = (
 			const blocks = output.content;
 			const blockIndex = () => blocks.length - 1;
 			for await (const chunk of googleStream) {
+				await options?.onProviderStreamEvent?.(chunk, model);
 				// @google/genai documents GenerateContentResponse.responseId as an output-only field
 				// used to identify each response. Keep the first non-empty one from the stream.
 				output.responseId ||= chunk.responseId;
diff --git a/packages/ai/src/api/google-vertex.ts b/packages/ai/src/api/google-vertex.ts
index cfbe20d37..4e667df18 100644
--- a/packages/ai/src/api/google-vertex.ts
+++ b/packages/ai/src/api/google-vertex.ts
@@ -113,6 +113,7 @@ export const stream: StreamFunction<"google-vertex", GoogleVertexOptions> = (
 			const blocks = output.content;
 			const blockIndex = () => blocks.length - 1;
 			for await (const chunk of googleStream) {
+				await options?.onProviderStreamEvent?.(chunk, model);
 				// Vertex uses the same @google/genai GenerateContentResponse type as Gemini.
 				// responseId is documented there as an output-only identifier for each response.
 				output.responseId ||= chunk.responseId;
diff --git a/packages/ai/src/api/mistral-conversations.ts b/packages/ai/src/api/mistral-conversations.ts
index 837d1ec11..899ac3cbf 100644
--- a/packages/ai/src/api/mistral-conversations.ts
+++ b/packages/ai/src/api/mistral-conversations.ts
@@ -150,7 +150,7 @@ export const stream: StreamFunction<"mistral-conversations", MistralOptions> = (
 			}
 			const mistralStream = await requestMistralStream(model, payload, apiKey, options);
 			stream.push({ type: "start", partial: output });
-			await consumeChatStream(model, output, stream, mistralStream);
+			await consumeChatStream(model, output, stream, mistralStream, options?.onProviderStreamEvent);
 
 			if (options?.signal?.aborted) {
 				throw new Error("Request was aborted");
@@ -559,6 +559,7 @@ async function consumeChatStream(
 	output: AssistantMessage,
 	stream: AssistantMessageEventStream,
 	mistralStream: AsyncIterable<MistralCompletionEvent>,
+	onProviderStreamEvent: StreamOptions["onProviderStreamEvent"],
 ): Promise<void> {
 	let currentBlock: TextContent | ThinkingContent | null = null;
 	const blocks = output.content;
@@ -588,6 +589,7 @@ async function consumeChatStream(
 
 	for await (const event of mistralStream) {
 		const chunk = event.data;
+		await onProviderStreamEvent?.(chunk, model);
 		// Mistral's streamed CompletionChunk carries an id field. Keep the first non-empty one,
 		// mirroring how OpenAI-style streaming exposes a stable response identifier per stream.
 		output.responseId ||= chunk.id;
diff --git a/packages/ai/src/api/openai-codex-responses.ts b/packages/ai/src/api/openai-codex-responses.ts
index 8c0e54466..9c1831a02 100644
--- a/packages/ai/src/api/openai-codex-responses.ts
+++ b/packages/ai/src/api/openai-codex-responses.ts
@@ -665,12 +665,18 @@ async function processStream(
 	grammarToolInputProperties: ReadonlyMap<string, string>,
 	options?: OpenAICodexResponsesOptions,
 ): Promise<void> {
-	await processResponsesStream(mapCodexEvents(parseSSE(response, options?.signal), output), output, stream, model, {
-		serviceTier: options?.serviceTier,
-		grammarToolInputProperties,
-		resolveServiceTier: resolveCodexServiceTier,
-		applyServiceTierPricing: (usage, serviceTier) => applyServiceTierPricing(usage, serviceTier, model),
-	});
+	await processResponsesStream(
+		mapCodexEvents(parseSSE(response, options?.signal), output, model, options?.onProviderStreamEvent),
+		output,
+		stream,
+		model,
+		{
+			serviceTier: options?.serviceTier,
+			grammarToolInputProperties,
+			resolveServiceTier: resolveCodexServiceTier,
+			applyServiceTierPricing: (usage, serviceTier) => applyServiceTierPricing(usage, serviceTier, model),
+		},
+	);
 }
 
 class CodexApiError extends Error {
@@ -697,8 +703,20 @@ class CodexProtocolError extends Error {
 	}
 }
 
+class ProviderStreamEventCallbackError extends Error {
+	constructor(cause: unknown) {
+		super(formatThrownValue(cause));
+		this.name = "ProviderStreamEventCallbackError";
+		this.cause = cause;
+	}
+}
+
 function isCodexNonTransportError(error: unknown): boolean {
-	return error instanceof CodexApiError || error instanceof CodexProtocolError;
+	return (
+		error instanceof CodexApiError ||
+		error instanceof CodexProtocolError ||
+		error instanceof ProviderStreamEventCallbackError
+	);
 }
 
 function isWebSocketConnectionLimitReachedError(error: unknown): boolean {
@@ -725,8 +743,16 @@ function extractCodexEventError(event: Record<string, unknown>): { code?: string
 async function* mapCodexEvents(
 	events: AsyncIterable<Record<string, unknown>>,
 	output: AssistantMessage,
+	model: Model<"openai-codex-responses">,
+	onProviderStreamEvent: StreamOptions["onProviderStreamEvent"] | undefined,
 ): AsyncGenerator<ResponseStreamEvent> {
 	for await (const event of events) {
+		try {
+			await onProviderStreamEvent?.(event, model);
+		} catch (error) {
+			// Keep callback failures out of Codex's WebSocket retry and SSE fallback path.
+			throw new ProviderStreamEventCallbackError(error);
+		}
 		const type = typeof event.type === "string" ? event.type : undefined;
 		if (!type) continue;
 
@@ -1516,7 +1542,12 @@ async function processWebSocketStream(
 		socket.send(JSON.stringify({ type: "response.create", ...requestBody }));
 		await processResponsesStream(
 			startWebSocketOutputOnFirstEvent(
-				mapCodexEvents(parseWebSocket(socket, options?.signal, idleTimeoutMs), output),
+				mapCodexEvents(
+					parseWebSocket(socket, options?.signal, idleTimeoutMs),
+					output,
+					model,
+					options?.onProviderStreamEvent,
+				),
 				onStart,
 			),
 			output,
diff --git a/packages/ai/src/api/openai-completions.ts b/packages/ai/src/api/openai-completions.ts
index f5a1bc668..4ea3695b9 100644
--- a/packages/ai/src/api/openai-completions.ts
+++ b/packages/ai/src/api/openai-completions.ts
@@ -551,6 +551,7 @@ export const stream: StreamFunction<"openai-completions", OpenAICompletionsOptio
 			};
 
 			for await (const chunk of openaiStream) {
+				await options?.onProviderStreamEvent?.(chunk, model);
 				if (!chunk || typeof chunk !== "object") continue;
 
 				// OpenAI documents ChatCompletionChunk.id as the unique chat completion identifier,
diff --git a/packages/ai/src/api/openai-responses-shared.ts b/packages/ai/src/api/openai-responses-shared.ts
index 80bf45370..9fc599c2e 100644
--- a/packages/ai/src/api/openai-responses-shared.ts
+++ b/packages/ai/src/api/openai-responses-shared.ts
@@ -20,6 +20,7 @@ import type {
 	ImageContent,
 	Model,
 	StopReason,
+	StreamOptions,
 	SystemMessage,
 	TextContent,
 	TextSignatureV1,
@@ -107,6 +108,7 @@ function convertToolResultOutput<TApi extends Api>(
 }
 
 export interface OpenAIResponsesStreamOptions {
+	onProviderStreamEvent?: StreamOptions["onProviderStreamEvent"];
 	serviceTier?: ResponseCreateParamsStreaming["service_tier"];
 	grammarToolInputProperties?: ReadonlyMap<string, string>;
 	resolveServiceTier?: (
@@ -596,6 +598,7 @@ export async function processResponsesStream<TApi extends Api>(
 	};
 
 	for await (const event of openaiStream) {
+		await options?.onProviderStreamEvent?.(event, model);
 		if (event.type === "response.created") {
 			output.responseId = event.response.id;
 		} else if (event.type === "response.output_item.added") {
diff --git a/packages/ai/src/api/openai-responses.ts b/packages/ai/src/api/openai-responses.ts
index f7a0c6088..811a0d4b9 100644
--- a/packages/ai/src/api/openai-responses.ts
+++ b/packages/ai/src/api/openai-responses.ts
@@ -178,6 +178,7 @@ export const stream: StreamFunction<"openai-responses", OpenAIResponsesOptions>
 			stream.push({ type: "start", partial: output });
 
 			await processResponsesStream(openaiStream, output, stream, model, {
+				onProviderStreamEvent: options?.onProviderStreamEvent,
 				serviceTier: options?.serviceTier,
 				grammarToolInputProperties,
 				applyServiceTierPricing: (usage, serviceTier) => applyServiceTierPricing(usage, serviceTier, model),
diff --git a/packages/ai/src/api/pi-messages.ts b/packages/ai/src/api/pi-messages.ts
index 4ed6ceadd..2137b551f 100644
--- a/packages/ai/src/api/pi-messages.ts
+++ b/packages/ai/src/api/pi-messages.ts
@@ -412,6 +412,7 @@ export const stream: StreamFunction<"pi-messages", PiMessagesOptions> = (
 			}
 
 			for await (const piEvent of readPiMessagesEvents(response.body)) {
+				await options?.onProviderStreamEvent?.(piEvent, model);
 				const event = convertEvent(piEvent);
 				eventStream.push(event);
 				if (event.type === "done" || event.type === "error") {
diff --git a/packages/ai/src/api/simple-options.ts b/packages/ai/src/api/simple-options.ts
index 63e34f3c7..59f7196b4 100644
--- a/packages/ai/src/api/simple-options.ts
+++ b/packages/ai/src/api/simple-options.ts
@@ -42,6 +42,7 @@ export function buildBaseOptions(
 		headers: options?.headers,
 		onPayload: options?.onPayload,
 		onResponse: options?.onResponse,
+		onProviderStreamEvent: options?.onProviderStreamEvent,
 		timeoutMs: options?.timeoutMs,
 		websocketConnectTimeoutMs: options?.websocketConnectTimeoutMs,
 		maxRetries: options?.maxRetries,
diff --git a/packages/ai/src/types.ts b/packages/ai/src/types.ts
index 7646a9c05..07c38cfe8 100644
--- a/packages/ai/src/types.ts
+++ b/packages/ai/src/types.ts
@@ -189,6 +189,12 @@ export interface StreamOptions extends ProviderRequestOptions<Model<Api>> {
 	 * its body stream is consumed.
 	 */
 	onResponse?: (response: ProviderResponse, model: Model<Api>) => void | Promise<void>;
+	/**
+	 * Optional observer for each parsed provider stream event before Pi normalization.
+	 * Event data is adapter-owned and must be treated as read-only.
+	 * Adapter support is explicit; unsupported adapters do not invoke it.
+	 */
+	onProviderStreamEvent?: (data: unknown, model: Model<Api>) => void | Promise<void>;
 	temperature?: number;
 	/**
 	 * Arbitrary sampling parameters merged into the request body as-is, after the named request
diff --git a/packages/ai/test/anthropic-sse-parsing.test.ts b/packages/ai/test/anthropic-sse-parsing.test.ts
index 36de46d26..b39780bff 100644
--- a/packages/ai/test/anthropic-sse-parsing.test.ts
+++ b/packages/ai/test/anthropic-sse-parsing.test.ts
@@ -4,7 +4,7 @@ import { describe, expect, it } from "vitest";
 import { stream as streamAnthropic } from "../src/api/anthropic-messages.ts";
 import { transformMessages } from "../src/api/transform-messages.ts";
 import { getModel, normalizeContext } from "../src/compat.ts";
-import type { Model, ToolCall } from "../src/types.ts";
+import type { Api, Model, ToolCall } from "../src/types.ts";
 
 function createSseResponse(events: Array<{ event: string; data: string }>): Response {
 	const body = events.map(({ event, data }) => `event: ${event}\ndata: ${data}\n`).join("\n");
@@ -110,6 +110,35 @@ function createResponseModelSseResponse(model: string, contentBlock: ResponseCon
 }
 
 describe("Anthropic raw SSE parsing", () => {
+	it("forwards parsed provider stream events in order", async () => {
+		const model = getModel("anthropic", "claude-haiku-4-5");
+		const providerEvents: unknown[] = [];
+		const eventModels: Model<Api>[] = [];
+		const result = await streamAnthropic(
+			model,
+			normalizeContext({ messages: [{ role: "user", content: "Hello", timestamp: 1 }] }),
+			{
+				client: createFakeAnthropicClient(createSseResponse(minimalAnthropicEvents)),
+				onProviderStreamEvent: async (event, eventModel) => {
+					await Promise.resolve();
+					providerEvents.push(event);
+					eventModels.push(eventModel);
+				},
+			},
+		).result();
+
+		expect(result.stopReason).toBe("stop");
+		expect(providerEvents.map((event) => (event as { type: string }).type)).toEqual([
+			"message_start",
+			"content_block_start",
+			"content_block_delta",
+			"content_block_stop",
+			"message_delta",
+			"message_stop",
+		]);
+		expect(eventModels).toEqual([model, model, model, model, model, model]);
+	});
+
 	it("keeps signed thinking replayable when a proxy relabels the model", async () => {
 		// Regression test for earendil-works/pi#9188.
 		const model = getModel("anthropic", "claude-opus-5");
diff --git a/packages/ai/test/azure-openai-base-url.test.ts b/packages/ai/test/azure-openai-base-url.test.ts
index 0e37cb6ee..9ac8ce4be 100644
--- a/packages/ai/test/azure-openai-base-url.test.ts
+++ b/packages/ai/test/azure-openai-base-url.test.ts
@@ -1,9 +1,10 @@
 import { arch, platform, release } from "node:os";
+import type { ResponseStreamEvent } from "openai/resources/responses/responses.js";
 import { Type } from "typebox";
 import { afterEach, beforeEach, describe, expect, it, vi } from "vitest";
 import { stream as streamAzureOpenAIResponses } from "../src/api/azure-openai-responses.ts";
 import { getModel, normalizeContext } from "../src/compat.ts";
-import type { Context, Model } from "../src/types.ts";
+import type { Api, Context, Model } from "../src/types.ts";
 
 interface CapturedAzureClientOptions {
 	apiKey: string;
@@ -22,6 +23,7 @@ interface CapturedAzureResponsesPayload {
 const azureMock = vi.hoisted(() => ({
 	constructorCalls: [] as CapturedAzureClientOptions[],
 	lastParams: undefined as CapturedAzureResponsesPayload | undefined,
+	streamEvents: undefined as ResponseStreamEvent[] | undefined,
 }));
 
 vi.mock("openai", () => {
@@ -29,7 +31,16 @@ vi.mock("openai", () => {
 		responses = {
 			create: (params: CapturedAzureResponsesPayload) => {
 				azureMock.lastParams = params;
-				throw new Error("mock create");
+				const events = azureMock.streamEvents;
+				if (!events) throw new Error("mock create");
+				return {
+					withResponse: async () => ({
+						data: (async function* () {
+							for (const event of events) yield event;
+						})(),
+						response: { status: 200, headers: new Headers() },
+					}),
+				};
 			},
 		};
 
@@ -55,6 +66,7 @@ const originalAzureOpenAIApiKey = process.env.AZURE_OPENAI_API_KEY;
 beforeEach(() => {
 	azureMock.constructorCalls.length = 0;
 	azureMock.lastParams = undefined;
+	azureMock.streamEvents = undefined;
 	delete process.env.AZURE_OPENAI_BASE_URL;
 	delete process.env.AZURE_OPENAI_RESOURCE_NAME;
 	delete process.env.AZURE_OPENAI_API_VERSION;
@@ -218,6 +230,38 @@ describe("azure-openai-responses base URL normalization", () => {
 	});
 });
 
+describe("azure-openai-responses provider stream events", () => {
+	it("forwards parsed events in order before normalizing the response", async () => {
+		azureMock.streamEvents = [
+			{ type: "response.created", sequence_number: 0, response: { id: "resp_azure" } } as ResponseStreamEvent,
+			{
+				type: "response.completed",
+				sequence_number: 1,
+				response: { id: "resp_azure", status: "completed" },
+			} as ResponseStreamEvent,
+		];
+		const model = getModel("azure-openai-responses", "gpt-4o-mini");
+		const received: unknown[] = [];
+		const eventModels: Model<Api>[] = [];
+		const result = await streamAzureOpenAIResponses(model, normalizeContext(context), {
+			apiKey: "test-api-key",
+			azureBaseUrl: "https://my-resource.openai.azure.com",
+			onProviderStreamEvent: async (event, eventModel) => {
+				await Promise.resolve();
+				received.push(event);
+				eventModels.push(eventModel);
+			},
+		}).result();
+
+		expect(received).toEqual(azureMock.streamEvents);
+		expect(received[0]).toBe(azureMock.streamEvents[0]);
+		expect(received[1]).toBe(azureMock.streamEvents[1]);
+		expect(eventModels).toEqual([model, model]);
+		expect(result.stopReason).toBe("stop");
+		expect(result.responseId).toBe("resp_azure");
+	});
+});
+
 describe("azure-openai-responses user agent", () => {
 	it("uses pi's User-Agent by default", async () => {
 		expect((await captureClientHeaders())["User-Agent"]).toBe(PI_USER_AGENT);
diff --git a/packages/ai/test/bedrock-raw-stop-reason.test.ts b/packages/ai/test/bedrock-raw-stop-reason.test.ts
index 60dc7517f..c9dcac753 100644
--- a/packages/ai/test/bedrock-raw-stop-reason.test.ts
+++ b/packages/ai/test/bedrock-raw-stop-reason.test.ts
@@ -1,7 +1,8 @@
-import { describe, expect, it, vi } from "vitest";
+import { beforeEach, describe, expect, it, vi } from "vitest";
 
 const bedrockMock = vi.hoisted(() => ({
 	stopReason: "end_turn" as string,
+	streamEvents: undefined as unknown[] | undefined,
 }));
 
 vi.mock("@aws-sdk/client-bedrock-runtime", () => {
@@ -16,6 +17,10 @@ vi.mock("@aws-sdk/client-bedrock-runtime", () => {
 			return {
 				$metadata: { httpStatusCode: 200, requestId: "request-id" },
 				stream: (async function* () {
+					if (bedrockMock.streamEvents) {
+						yield* bedrockMock.streamEvents;
+						return;
+					}
 					yield { messageStart: { role: "assistant" } };
 					yield { messageStop: { stopReason: bedrockMock.stopReason } };
 				})(),
@@ -52,12 +57,60 @@ vi.mock("@aws-sdk/client-bedrock-runtime", () => {
 
 import { stream as streamBedrock } from "../src/api/bedrock-converse-stream.ts";
 import { getModel, normalizeContext } from "../src/compat.ts";
+import type { Api, Model } from "../src/types.ts";
+
+beforeEach(() => {
+	bedrockMock.streamEvents = undefined;
+});
 
 const model = getModel("amazon-bedrock", "us.anthropic.claude-opus-4-8");
 const context = normalizeContext({
 	messages: [{ role: "user", content: "hello", timestamp: Date.now() }],
 });
 
+describe("Bedrock provider stream events", () => {
+	it("forwards SDK stream items in order before normalizing them", async () => {
+		bedrockMock.streamEvents = [
+			{ messageStart: { role: "assistant" } },
+			{ contentBlockDelta: { contentBlockIndex: 0, delta: { text: "hello" } } },
+			{ messageStop: { stopReason: "end_turn", additionalModelResponseFields: { source: "test" } } },
+			{ metadata: { usage: { inputTokens: 1, outputTokens: 1, totalTokens: 2 } } },
+		];
+		const received: unknown[] = [];
+		const eventModels: Model<Api>[] = [];
+		const result = await streamBedrock(model, context, {
+			cacheRetention: "none",
+			onProviderStreamEvent: async (item, eventModel) => {
+				await Promise.resolve();
+				received.push(item);
+				eventModels.push(eventModel);
+			},
+		}).result();
+
+		expect(received).toEqual(bedrockMock.streamEvents);
+		for (const [index, item] of received.entries()) expect(item).toBe(bedrockMock.streamEvents[index]);
+		expect(eventModels).toEqual([model, model, model, model]);
+		expect(result.stopReason).toBe("stop");
+		expect(result.content).toEqual([{ type: "text", text: "hello" }]);
+	});
+
+	it("forwards SDK error items before reporting them", async () => {
+		const exception = new Error("bedrock stream failed");
+		bedrockMock.streamEvents = [{ messageStart: { role: "assistant" } }, { internalServerException: exception }];
+		const received: unknown[] = [];
+		const result = await streamBedrock(model, context, {
+			cacheRetention: "none",
+			onProviderStreamEvent: (item) => {
+				received.push(item);
+			},
+		}).result();
+
+		expect(received).toEqual(bedrockMock.streamEvents);
+		expect(result.stopReason).toBe("error");
+		expect(result.errorMessage).toBe("bedrock stream failed");
+	});
+});
+
 describe("Bedrock raw stop reasons", () => {
 	it("preserves raw Bedrock stop reasons for successful stops", async () => {
 		bedrockMock.stopReason = "end_turn";
diff --git a/packages/ai/test/google-raw-stop-reason.test.ts b/packages/ai/test/google-raw-stop-reason.test.ts
index c9c5cc099..37b79a66e 100644
--- a/packages/ai/test/google-raw-stop-reason.test.ts
+++ b/packages/ai/test/google-raw-stop-reason.test.ts
@@ -1,10 +1,11 @@
 import { arch, platform, release } from "node:os";
-import { describe, expect, it, vi } from "vitest";
+import { beforeEach, describe, expect, it, vi } from "vitest";
 
 const googleGenAiMock = vi.hoisted(() => ({
 	constructorCalls: [] as Array<Record<string, unknown>>,
 	finishReason: "MALFORMED_FUNCTION_CALL",
 	includeFunctionCall: false,
+	streamChunks: undefined as Array<Record<string, unknown>> | undefined,
 }));
 
 vi.mock("@google/genai", () => {
@@ -15,6 +16,10 @@ vi.mock("@google/genai", () => {
 
 		models = {
 			generateContentStream: async function* () {
+				if (googleGenAiMock.streamChunks) {
+					yield* googleGenAiMock.streamChunks;
+					return;
+				}
 				yield {
 					responseId: "google-response-id",
 					candidates: [
@@ -88,6 +93,11 @@ vi.mock("@google/genai", () => {
 import { stream as streamGoogleGenerativeAi } from "../src/api/google-generative-ai.ts";
 import { stream as streamGoogleVertex } from "../src/api/google-vertex.ts";
 import { getModel, normalizeContext } from "../src/compat.ts";
+import type { Api, Model, StreamOptions } from "../src/types.ts";
+
+beforeEach(() => {
+	googleGenAiMock.streamChunks = undefined;
+});
 
 const PI_USER_AGENT = `pi (${platform()} ${release()}; ${arch()})`;
 
@@ -182,6 +192,63 @@ describe("Google raw stop reasons", () => {
 	});
 });
 
+describe("Google provider stream events", () => {
+	const googleModel = getModel("google", "gemini-2.5-flash");
+	const vertexModel = getModel("google-vertex", "gemini-3-flash-preview");
+	const adapters = [
+		{
+			name: "Google Generative AI",
+			model: googleModel,
+			createStream: (onProviderStreamEvent: StreamOptions["onProviderStreamEvent"]) =>
+				streamGoogleGenerativeAi(googleModel, context, {
+					apiKey: "test-api-key",
+					onProviderStreamEvent,
+				}),
+		},
+		{
+			name: "Google Vertex",
+			model: vertexModel,
+			createStream: (onProviderStreamEvent: StreamOptions["onProviderStreamEvent"]) =>
+				streamGoogleVertex(vertexModel, context, {
+					project: "test-project",
+					location: "us-central1",
+					onProviderStreamEvent,
+				}),
+		},
+	];
+
+	it.each(adapters)(
+		"forwards each SDK chunk in order before normalizing it for $name",
+		async ({ model, createStream }) => {
+			googleGenAiMock.streamChunks = [
+				{
+					responseId: "resp_google",
+					candidates: [{ content: { parts: [{ text: "hello" }] } }],
+				},
+				{
+					candidates: [{ finishReason: "STOP" }],
+					usageMetadata: { promptTokenCount: 2, candidatesTokenCount: 1, totalTokenCount: 3 },
+				},
+			];
+			const received: unknown[] = [];
+			const eventModels: Model<Api>[] = [];
+			const result = await createStream(async (chunk, eventModel) => {
+				await Promise.resolve();
+				received.push(chunk);
+				eventModels.push(eventModel);
+			}).result();
+
+			expect(received).toEqual(googleGenAiMock.streamChunks);
+			expect(received[0]).toBe(googleGenAiMock.streamChunks[0]);
+			expect(received[1]).toBe(googleGenAiMock.streamChunks[1]);
+			expect(eventModels).toEqual([model, model]);
+			expect(result.stopReason).toBe("stop");
+			expect(result.responseId).toBe("resp_google");
+			expect(result.content).toEqual([{ type: "text", text: "hello" }]);
+		},
+	);
+});
+
 describe("Google Generative AI user agent", () => {
 	it("uses pi's User-Agent by default", async () => {
 		expect((await captureGoogleHeaders())["User-Agent"]).toBe(PI_USER_AGENT);
diff --git a/packages/ai/test/mistral-http-transport.test.ts b/packages/ai/test/mistral-http-transport.test.ts
index 9180837f6..83c91c8fc 100644
--- a/packages/ai/test/mistral-http-transport.test.ts
+++ b/packages/ai/test/mistral-http-transport.test.ts
@@ -3,7 +3,7 @@ import { Type } from "typebox";
 import { describe, expect, it } from "vitest";
 import { stream as streamMistral } from "../src/api/mistral-conversations.ts";
 import { getModel, normalizeContext } from "../src/compat.ts";
-import type { FetchFunction, ProviderResponse } from "../src/types.ts";
+import type { Api, FetchFunction, Model, ProviderResponse } from "../src/types.ts";
 
 const PI_USER_AGENT = `pi (${platform()} ${release()}; ${arch()})`;
 
@@ -322,6 +322,41 @@ describe("Mistral HTTP transport", () => {
 		expect(message.usage).toMatchObject({ input: 7, output: 4, cacheRead: 3, cacheWrite: 0, totalTokens: 14 });
 	});
 
+	it("forwards each parsed SSE payload before normalizing it", async () => {
+		const model = getModel("mistral", "mistral-large-latest");
+		const context = normalizeContext({
+			messages: [{ role: "user", content: "hello", timestamp: 1 }],
+		});
+		const events = [
+			{
+				id: "response-1",
+				provider_metadata: { request: "test" },
+				choices: [{ index: 0, finish_reason: null, delta: { content: "hello" } }],
+			},
+			{
+				id: "response-1",
+				choices: [{ index: 0, finish_reason: "stop", delta: {} }],
+				usage: { prompt_tokens: 1, completion_tokens: 1, total_tokens: 2 },
+			},
+		];
+		const received: unknown[] = [];
+		const eventModels: Model<Api>[] = [];
+		const result = await streamMistral(model, context, {
+			apiKey: "test",
+			fetch: async () => createSseResponse(events),
+			onProviderStreamEvent: async (event, eventModel) => {
+				await Promise.resolve();
+				received.push(event);
+				eventModels.push(eventModel);
+			},
+		}).result();
+
+		expect(received).toEqual(events);
+		expect(eventModels).toEqual([model, model]);
+		expect(result.stopReason).toBe("stop");
+		expect(result.content).toEqual([{ type: "text", text: "hello" }]);
+	});
+
 	it("parses SSE and UTF-8 sequences split across transport chunks", async () => {
 		const model = getModel("mistral", "mistral-large-latest");
 		const context = normalizeContext({
diff --git a/packages/ai/test/openai-codex-stream.test.ts b/packages/ai/test/openai-codex-stream.test.ts
index b756a1479..9aabc09c3 100644
--- a/packages/ai/test/openai-codex-stream.test.ts
+++ b/packages/ai/test/openai-codex-stream.test.ts
@@ -11,7 +11,7 @@ import {
 	stream as streamOpenAICodexResponses,
 	streamSimple as streamSimpleOpenAICodexResponses,
 } from "../src/api/openai-codex-responses.ts";
-import type { Context, Model } from "../src/types.ts";
+import type { Api, Context, Model } from "../src/types.ts";
 import { normalizeContext } from "../src/utils/transcript.ts";
 
 const originalAgentDir = process.env.PI_CODING_AGENT_DIR;
@@ -98,7 +98,7 @@ function buildSSEPayload({
 }
 
 describe("openai-codex streaming", () => {
-	it("streams SSE responses into AssistantMessageEventStream", async () => {
+	it("streams SSE responses and forwards raw provider events", async () => {
 		const tempDir = mkdtempSync(join(tmpdir(), "pi-codex-stream-"));
 		process.env.PI_CODING_AGENT_DIR = tempDir;
 
@@ -192,9 +192,15 @@ describe("openai-codex streaming", () => {
 			messages: [{ role: "user", content: "Say hello", timestamp: Date.now() }],
 		});
 
+		const providerEvents: unknown[] = [];
+		const providerEventModels: Model<Api>[] = [];
 		const streamResult = streamOpenAICodexResponses(model, context, {
 			apiKey: token,
 			transport: "sse",
+			onProviderStreamEvent: (event, eventModel) => {
+				providerEvents.push(event);
+				providerEventModels.push(eventModel);
+			},
 		});
 		let sawTextDelta = false;
 		let sawDone = false;
@@ -211,6 +217,14 @@ describe("openai-codex streaming", () => {
 
 		expect(sawTextDelta).toBe(true);
 		expect(sawDone).toBe(true);
+		expect(providerEvents.map((event) => (event as { type?: string }).type)).toEqual([
+			"response.output_item.added",
+			"response.content_part.added",
+			"response.output_text.delta",
+			"response.output_item.done",
+			"response.completed",
+		]);
+		expect(providerEventModels).toEqual([model, model, model, model, model]);
 	});
 
 	// Regression test for https://github.com/earendil-works/pi/issues/9047
@@ -1266,9 +1280,11 @@ describe("openai-codex streaming", () => {
 		});
 		await streamResult.result();
 	});
-	it("forwards auto transport from streamSimple options and uses cached websocket context", async () => {
+	it("forwards auto transport and raw provider events from streamSimple", async () => {
 		const token = mockToken();
 		const sentBodies: unknown[] = [];
+		const providerEvents: unknown[] = [];
+		const providerEventModels: Model<Api>[] = [];
 		let capturedWebSocketHeaders: Record<string, string> | undefined;
 
 		const fetchMock = vi.fn(async () => new Response("unexpected fetch", { status: 500 }));
@@ -1317,7 +1333,7 @@ describe("openai-codex streaming", () => {
 						},
 					},
 					{
-						type: "response.completed",
+						type: "response.done",
 						response: {
 							status: "completed",
 							end_turn: false,
@@ -1369,10 +1385,22 @@ describe("openai-codex streaming", () => {
 			apiKey: token,
 			sessionId: "session-auto",
 			transport: "auto",
+			onProviderStreamEvent: (event, eventModel) => {
+				providerEvents.push(event);
+				providerEventModels.push(eventModel);
+			},
 		}).result();
 
 		expect(result.endTurn).toBe(false);
 		expect(sentBodies).toHaveLength(1);
+		expect(providerEvents.map((event) => (event as { type?: string }).type)).toEqual([
+			"response.output_item.added",
+			"response.content_part.added",
+			"response.output_text.delta",
+			"response.output_item.done",
+			"response.done",
+		]);
+		expect(providerEventModels).toEqual([model, model, model, model, model]);
 		expect(capturedWebSocketHeaders?.["session-id"]).toBe("session-auto");
 		expect(capturedWebSocketHeaders?.session_id).toBeUndefined();
 		expect(capturedWebSocketHeaders?.["x-client-request-id"]).toBe("session-auto");
diff --git a/packages/ai/test/openai-completions-provider-stream-event.test.ts b/packages/ai/test/openai-completions-provider-stream-event.test.ts
new file mode 100644
index 000000000..b025599d3
--- /dev/null
+++ b/packages/ai/test/openai-completions-provider-stream-event.test.ts
@@ -0,0 +1,94 @@
+import { beforeEach, describe, expect, it, vi } from "vitest";
+import { completeSimple } from "../src/compat.ts";
+import type { Model } from "../src/types.ts";
+
+const mockState = vi.hoisted(() => ({
+	chunks: [] as unknown[],
+}));
+
+vi.mock("openai", () => {
+	class FakeOpenAI {
+		chat = {
+			completions: {
+				create: () => {
+					const stream = {
+						async *[Symbol.asyncIterator]() {
+							for (const chunk of mockState.chunks) yield chunk;
+						},
+					};
+					const promise = Promise.resolve(stream) as Promise<typeof stream> & {
+						withResponse: () => Promise<{
+							data: typeof stream;
+							response: { status: number; headers: Headers };
+						}>;
+					};
+					promise.withResponse = async () => ({
+						data: stream,
+						response: { status: 200, headers: new Headers({ "x-request-id": "req-1" }) },
+					});
+					return promise;
+				},
+			},
+		};
+	}
+	return { default: FakeOpenAI };
+});
+
+function openRouterModel(): Model<"openai-completions"> {
+	return {
+		id: "openrouter/auto",
+		name: "OpenRouter Auto",
+		api: "openai-completions",
+		provider: "openrouter",
+		baseUrl: "https://openrouter.ai/api/v1",
+		reasoning: false,
+		input: ["text"],
+		cost: { input: 0, output: 0, cacheRead: 0, cacheWrite: 0 },
+		contextWindow: 200_000,
+		maxTokens: 8192,
+	};
+}
+
+describe("openai-completions provider stream events", () => {
+	beforeEach(() => {
+		mockState.chunks = [];
+	});
+
+	// Regression test for #9784.
+	it("exposes provider chunks including OpenRouter metadata", async () => {
+		const firstChunk = {
+			id: "chatcmpl-1",
+			model: "anthropic/claude-sonnet-4.6",
+			choices: [{ index: 0, delta: { content: "hello" } }],
+		};
+		const finalChunk = {
+			id: "chatcmpl-1",
+			model: "anthropic/claude-sonnet-4.6",
+			choices: [{ index: 0, delta: {}, finish_reason: "stop" }],
+			usage: {
+				prompt_tokens: 10,
+				completion_tokens: 2,
+				total_tokens: 12,
+				cost: 0.0012,
+				is_byok: false,
+			},
+			openrouter_metadata: { strategy: "direct", region: "iad" },
+		};
+		mockState.chunks = [firstChunk, finalChunk];
+		const events: unknown[] = [];
+
+		const message = await completeSimple(
+			openRouterModel(),
+			{ messages: [{ role: "user", content: "hi", timestamp: Date.now() }] },
+			{
+				apiKey: "test",
+				onProviderStreamEvent: (data) => {
+					events.push(data);
+				},
+			},
+		);
+
+		expect(message.content).toEqual([{ type: "text", text: "hello" }]);
+		expect(events).toEqual([firstChunk, finalChunk]);
+	});
+});
diff --git a/packages/ai/test/openai-responses-terminal-event.test.ts b/packages/ai/test/openai-responses-terminal-event.test.ts
index 8b0553c25..89f54f8b4 100644
--- a/packages/ai/test/openai-responses-terminal-event.test.ts
+++ b/packages/ai/test/openai-responses-terminal-event.test.ts
@@ -2,7 +2,7 @@ import type { ResponseStreamEvent } from "openai/resources/responses/responses.j
 import { describe, expect, it, vi } from "vitest";
 import { stream as streamOpenAIResponses } from "../src/api/openai-responses.ts";
 import { processResponsesStream } from "../src/api/openai-responses-shared.ts";
-import type { AssistantMessage, AssistantMessageEvent, Model } from "../src/types.ts";
+import type { Api, AssistantMessage, AssistantMessageEvent, Model } from "../src/types.ts";
 import { AssistantMessageEventStream } from "../src/utils/event-stream.ts";
 import { normalizeContext } from "../src/utils/transcript.ts";
 
@@ -215,6 +215,35 @@ describe("OpenAI Responses terminal event handling", () => {
 		);
 	});
 
+	it("forwards parsed provider stream events in order", async () => {
+		const model = createModel();
+		const context = normalizeContext({
+			systemPrompt: "",
+			messages: [{ role: "user", content: [{ type: "text", text: "hi" }], timestamp: 0 }],
+			tools: [],
+		});
+		const providerEvents: unknown[] = [];
+		const eventModels: Model<Api>[] = [];
+		const stream = streamOpenAIResponses(model, context, {
+			apiKey: "test",
+			onProviderStreamEvent: async (event, eventModel) => {
+				await Promise.resolve();
+				providerEvents.push(event);
+				eventModels.push(eventModel);
+			},
+		});
+
+		await stream.result();
+
+		expect(providerEvents).toHaveLength(3);
+		expect(providerEvents.map((event) => (event as ResponseStreamEvent).type)).toEqual([
+			"response.created",
+			"response.output_item.added",
+			"response.reasoning_text.delta",
+		]);
+		expect(eventModels).toEqual([model, model, model]);
+	});
+
 	it("emits an error final result when the wrapper stream ends before a terminal response event", async () => {
 		const model = createModel();
 		const context = normalizeContext({
diff --git a/packages/ai/test/pi-messages.test.ts b/packages/ai/test/pi-messages.test.ts
index 809ef7516..211c24cb0 100644
--- a/packages/ai/test/pi-messages.test.ts
+++ b/packages/ai/test/pi-messages.test.ts
@@ -165,6 +165,34 @@ describe("pi-messages", () => {
 		});
 	});
 
+	it("forwards parsed wire events in order before converting them", async () => {
+		const wireEvents = [
+			{ type: "start" },
+			{ type: "text_start", contentIndex: 0 },
+			{ type: "text_delta", contentIndex: 0, delta: "Hello", gatewayField: "upstream-value" },
+			{ type: "text_end", contentIndex: 0, content: "Hello" },
+			{ type: "done", reason: "stop", usage, responseId: "resp_1" },
+		];
+		const { baseUrl } = await startServer({ events: wireEvents });
+		const model = createModel(baseUrl);
+		const received: unknown[] = [];
+		const eventModels: Model<Api>[] = [];
+		const message = await streamSimple(model, normalizeContext(context), {
+			apiKey: "test-key",
+			onProviderStreamEvent: async (event, eventModel) => {
+				await Promise.resolve();
+				received.push(event);
+				eventModels.push(eventModel);
+			},
+		}).result();
+
+		expect(received).toEqual(wireEvents);
+		expect(eventModels).toEqual(wireEvents.map(() => model));
+		expect(message.stopReason).toBe("stop");
+		expect(message.responseId).toBe("resp_1");
+		expect(message.content).toEqual([{ type: "text", text: "Hello", textSignature: undefined }]);
+	});
+
 	it("appends debug=1 and reports response headers via onResponse", async () => {
 		const { baseUrl, requests } = await startServer({
 			headers: { "x-pi-gateway-upstream-provider": "anthropic" },
diff --git a/packages/coding-agent/CHANGELOG.md b/packages/coding-agent/CHANGELOG.md
index 60333a329..8e72902d9 100644
--- a/packages/coding-agent/CHANGELOG.md
+++ b/packages/coding-agent/CHANGELOG.md
@@ -2,6 +2,10 @@
 
 ## [Unreleased]
 
+### Added
+
+- Added the `provider_stream_event` extension event for observing parsed provider events before normalization, with an opt-in `/debug-provider` example viewer ([#9784](https://github.com/earendil-works/pi/issues/9784)).
+
 ### Fixed
 
 - Prevented managed git packages from automatically installing Pi peer dependencies and added warnings for extension packages that list host-provided modules in `dependencies` ([#9863](https://github.com/earendil-works/pi/issues/9863)).
diff --git a/packages/coding-agent/docs/custom-provider.md b/packages/coding-agent/docs/custom-provider.md
index ae17b48c0..472be8354 100644
--- a/packages/coding-agent/docs/custom-provider.md
+++ b/packages/coding-agent/docs/custom-provider.md
@@ -102,9 +102,10 @@ The stream must also honor request instrumentation supplied through `SimpleStrea
 
 - Call `options.onPayload` before sending the provider request and use any replacement payload it returns.
 - Call `options.onResponse` after receiving the response but before consuming its body.
+- Await `options.onProviderStreamEvent?.(providerEvent, model)` for each parsed provider event before normalizing it.
 - Pass through the abort signal and provider-scoped environment.
 
-These hooks power extension request inspection and response-header events. Omitting them makes the provider behave differently from Pi’s built-in providers.
+These hooks power extension request inspection, response-header events, and provider-stream observation. Omitting them makes the provider behave differently from Pi’s built-in providers.
 
 ## Report failures and usage
 
diff --git a/packages/coding-agent/docs/extensions.md b/packages/coding-agent/docs/extensions.md
index 9a3d06454..a0a833e05 100644
--- a/packages/coding-agent/docs/extensions.md
+++ b/packages/coding-agent/docs/extensions.md
@@ -102,6 +102,12 @@ Events cover resource discovery, sessions, agent and message lifecycle, provider
 
 `message_end` can replace a finalized message while preserving its role. `tool_call` can mutate input or block execution. `tool_result` handlers compose, with each handler seeing prior changes.
 
+<a id="provider_stream_event"></a>
+
+`provider_stream_event` fires for each parsed provider stream event before Pi normalizes it. The event identifies the provider, API, and model; `event.data` is the earliest structured value available to Pi, not necessarily the original HTTP bytes or SSE frame. Treat it as read-only because mutation can affect normalization. The event is notification-only and is not persisted.
+
+Handlers are awaited in stream order, so slow handlers delay stream consumption. Handler errors are reported without changing the provider response. See [`debug-provider.ts`](../examples/extensions/debug-provider.ts) for an opt-in viewer that groups raw events by assistant message.
+
 <a id="context_with_system"></a>
 
 `context` transforms conversation messages without prompt and tool system messages; Pi restores that state afterward. Use `context_with_system` only when a request-local transformation must own the complete transcript, and keep a system message at index zero.
diff --git a/packages/coding-agent/examples/extensions/README.md b/packages/coding-agent/examples/extensions/README.md
index 30904dba5..90e7ead29 100644
--- a/packages/coding-agent/examples/extensions/README.md
+++ b/packages/coding-agent/examples/extensions/README.md
@@ -113,6 +113,7 @@ cp permission-gate.ts ~/.pi/agent/extensions/
 |-----------|-------------|
 | `message-renderer.ts` | Custom message rendering with colors and expandable details via `registerMessageRenderer` |
 | `entry-renderer.ts` | TUI-only session entry rendering via `appendEntry` and `registerEntryRenderer` |
+| `debug-provider.ts` | Toggle raw provider stream capture with `/debug-provider` and inspect each assistant message in a TUI-only session entry |
 | `event-bus.ts` | Inter-extension communication via `pi.events` |
 
 ### Session Metadata
diff --git a/packages/coding-agent/examples/extensions/debug-provider.ts b/packages/coding-agent/examples/extensions/debug-provider.ts
new file mode 100644
index 000000000..14aae7027
--- /dev/null
+++ b/packages/coding-agent/examples/extensions/debug-provider.ts
@@ -0,0 +1,90 @@
+/**
+ * Raw provider event viewer.
+ *
+ * Usage: /debug-provider [on|off]
+ * With no argument, the command toggles capture. Captured events are persisted
+ * as expandable custom entries.
+ */
+
+import { type ExtensionAPI, keyHint } from "@earendil-works/pi-coding-agent";
+import { Box, Text } from "@earendil-works/pi-tui";
+
+const ENTRY_TYPE = "debug-provider-events";
+const STATUS_KEY = "debug-provider";
+
+interface ProviderDebugEntry {
+	provider: string;
+	api: string;
+	model: string;
+	events: unknown[];
+}
+
+export default function (pi: ExtensionAPI) {
+	let enabled = false;
+	let activeEvents: unknown[] | undefined;
+	let completedEntry: ProviderDebugEntry | undefined;
+
+	pi.registerEntryRenderer<ProviderDebugEntry>(ENTRY_TYPE, (entry, { expanded }, theme) => {
+		const data = entry.data;
+		if (!data) return new Text(theme.fg("warning", "[provider debug] Missing event data"), 0, 0);
+
+		const box = new Box(1, 1, (text) => theme.bg("customMessageBg", text));
+		const count = `${data.events.length} event${data.events.length === 1 ? "" : "s"}`;
+		const expandHint = expanded ? "" : ` (${keyHint("app.tools.expand", "to view events")})`;
+		box.addChild(
+			new Text(
+				`${theme.fg("accent", "[provider debug]")} ${data.provider}/${data.model} (${data.api}) · ${count}${expandHint}`,
+				0,
+				0,
+			),
+		);
+		if (expanded) {
+			box.addChild(new Text(JSON.stringify(data.events, null, 2), 0, 0));
+		}
+		return box;
+	});
+
+	pi.registerCommand("debug-provider", {
+		description: "Toggle capture of raw provider stream events",
+		handler: async (args, ctx) => {
+			const requestedState = args.trim().toLowerCase();
+			if (requestedState !== "" && requestedState !== "on" && requestedState !== "off") {
+				ctx.ui.notify("Usage: /debug-provider [on|off]", "warning");
+				return;
+			}
+
+			enabled = requestedState === "" ? !enabled : requestedState === "on";
+			if (!enabled) {
+				activeEvents = undefined;
+				completedEntry = undefined;
+			}
+			ctx.ui.setStatus(STATUS_KEY, enabled ? "provider debug" : undefined);
+			ctx.ui.notify(`Provider event capture ${enabled ? "enabled" : "disabled"}`, "info");
+		},
+	});
+
+	pi.on("turn_start", () => {
+		activeEvents = enabled ? [] : undefined;
+	});
+
+	pi.on("provider_stream_event", (event) => {
+		activeEvents?.push(structuredClone(event.data));
+	});
+
+	pi.on("message_end", (event) => {
+		if (event.message.role !== "assistant" || !activeEvents) return;
+		completedEntry = {
+			provider: event.message.provider,
+			api: event.message.api,
+			model: event.message.model,
+			events: activeEvents,
+		};
+		activeEvents = undefined;
+	});
+
+	pi.on("turn_end", () => {
+		if (!completedEntry) return;
+		pi.appendEntry<ProviderDebugEntry>(ENTRY_TYPE, completedEntry);
+		completedEntry = undefined;
+	});
+}
diff --git a/packages/coding-agent/src/core/extensions/index.ts b/packages/coding-agent/src/core/extensions/index.ts
index ad0287629..f9c989b35 100644
--- a/packages/coding-agent/src/core/extensions/index.ts
+++ b/packages/coding-agent/src/core/extensions/index.ts
@@ -130,6 +130,7 @@ export type {
 	// Provider Registration
 	ProviderConfig,
 	ProviderModelConfig,
+	ProviderStreamEvent,
 	ReadToolCallEvent,
 	ReadToolResultEvent,
 	// Commands
diff --git a/packages/coding-agent/src/core/extensions/types.ts b/packages/coding-agent/src/core/extensions/types.ts
index 48b12ccc9..1580b5873 100644
--- a/packages/coding-agent/src/core/extensions/types.ts
+++ b/packages/coding-agent/src/core/extensions/types.ts
@@ -27,6 +27,7 @@ import type {
 	OAuthLoginCallbacks,
 	Provider,
 	ProviderHeaders,
+	ProviderId,
 	RefreshModelsContext,
 	SimpleStreamOptions,
 	TextContent,
@@ -733,6 +734,15 @@ export interface AfterProviderResponseEvent {
 	headers: Record<string, string>;
 }
 
+/** Fired for a parsed provider stream event before Pi normalizes it. */
+export interface ProviderStreamEvent {
+	type: "provider_stream_event";
+	provider: ProviderId;
+	api: Api;
+	model: string;
+	data: unknown;
+}
+
 /** Fired after user submits prompt but before agent loop. */
 export interface BeforeAgentStartEvent {
 	type: "before_agent_start";
@@ -1177,6 +1187,7 @@ export type ExtensionEvent =
 	| BeforeProviderRequestEvent
 	| BeforeProviderHeadersEvent
 	| AfterProviderResponseEvent
+	| ProviderStreamEvent
 	| BeforeAgentStartEvent
 	| AgentStartEvent
 	| AgentEndEvent
@@ -1390,6 +1401,7 @@ export interface ExtensionAPI {
 	): () => void;
 	on(event: "before_provider_headers", handler: ExtensionHandler<BeforeProviderHeadersEvent>): () => void;
 	on(event: "after_provider_response", handler: ExtensionHandler<AfterProviderResponseEvent>): () => void;
+	on(event: "provider_stream_event", handler: ExtensionHandler<ProviderStreamEvent>): () => void;
 	on(
 		event: "before_agent_start",
 		handler: ExtensionHandler<BeforeAgentStartEvent, BeforeAgentStartEventResult>,
@@ -1643,7 +1655,9 @@ export interface ProviderConfig {
 	 * (`getCurrentSystemPrompt(context.messages)`, `getCurrentTools(context.messages)`).
 	 * Implementations must invoke `options.onPayload` before sending the provider request and use any
 	 * returned replacement payload. They must invoke `options.onResponse` after receiving the response
-	 * and before consuming its body, matching built-in providers.
+	 * and before consuming its body, matching built-in providers. Implementations may invoke
+	 * `options.onProviderStreamEvent(data, model)` with parsed stream events before normalization.
+	 * Event data is adapter-owned and must be treated as read-only.
 	 */
 	streamSimple?: (
 		model: Model<Api>,
diff --git a/packages/coding-agent/src/core/sdk.ts b/packages/coding-agent/src/core/sdk.ts
index 2ab852514..53e4afd2c 100644
--- a/packages/coding-agent/src/core/sdk.ts
+++ b/packages/coding-agent/src/core/sdk.ts
@@ -362,6 +362,20 @@ export async function createAgentSession(options: CreateAgentSessionOptions = {}
 			headers: response.headers,
 		});
 	};
+	const handleProviderStreamEvent: NonNullable<ModelsSimpleStreamOptions["onProviderStreamEvent"]> = async (
+		data,
+		model,
+	) => {
+		const runner = extensionRunnerRef.current;
+		if (!runner?.hasHandlers("provider_stream_event")) return;
+		await runner.emit({
+			data,
+			type: "provider_stream_event",
+			provider: model.provider,
+			api: model.api,
+			model: model.id,
+		});
+	};
 
 	const agent = new Agent({
 		initialState: {
@@ -386,6 +400,7 @@ export async function createAgentSession(options: CreateAgentSessionOptions = {}
 		},
 		onPayload: transformProviderPayload,
 		onResponse: handleProviderResponse,
+		onProviderStreamEvent: handleProviderStreamEvent,
 		sessionId: sessionManager.getSessionId(),
 		transformContext: async (messages) => {
 			const runner = extensionRunnerRef.current;
diff --git a/packages/coding-agent/src/index.ts b/packages/coding-agent/src/index.ts
index 8746a894b..a8b3ff8cd 100644
--- a/packages/coding-agent/src/index.ts
+++ b/packages/coding-agent/src/index.ts
@@ -135,6 +135,7 @@ export type {
 	ProjectTrustHandler,
 	ProviderConfig,
 	ProviderModelConfig,
+	ProviderStreamEvent,
 	ReadToolCallEvent,
 	RegisteredCommand,
 	RegisteredTool,
diff --git a/packages/coding-agent/test/sdk-stream-options.test.ts b/packages/coding-agent/test/sdk-stream-options.test.ts
index 09c5c718c..143b0ad5c 100644
--- a/packages/coding-agent/test/sdk-stream-options.test.ts
+++ b/packages/coding-agent/test/sdk-stream-options.test.ts
@@ -1,4 +1,4 @@
-import { mkdirSync, mkdtempSync, rmSync, writeFileSync } from "node:fs";
+import { mkdirSync, mkdtempSync, rmSync } from "node:fs";
 import { tmpdir } from "node:os";
 import { join } from "node:path";
 import {
@@ -11,6 +11,8 @@ import {
 } from "@earendil-works/pi-ai";
 import { afterEach, beforeEach, describe, expect, it } from "vitest";
 import { AuthStorage } from "../src/core/auth-storage.ts";
+import type { ExtensionFactory } from "../src/core/extensions/types.ts";
+import { DefaultResourceLoader } from "../src/core/resource-loader.ts";
 import { createAgentSession } from "../src/core/sdk.ts";
 import { SessionManager } from "../src/core/session-manager.ts";
 import { type Settings, SettingsManager } from "../src/core/settings-manager.ts";
@@ -81,15 +83,18 @@ describe("createAgentSession stream options", () => {
 		api: Api,
 		settings: Partial<Settings>,
 		requestOptions: SimpleStreamOptions = {},
-		extensionSource?: string,
+		extensionFactory?: ExtensionFactory,
+		providerEvent?: unknown,
 	): Promise<SimpleStreamOptions | undefined> {
 		const model = createModel(api);
 		const settingsManager = SettingsManager.inMemory(settings);
-		if (extensionSource) {
-			const extensionsDir = join(agentDir, "extensions");
-			mkdirSync(extensionsDir, { recursive: true });
-			writeFileSync(join(extensionsDir, "headers.ts"), extensionSource);
-		}
+		const resourceLoader = new DefaultResourceLoader({
+			cwd,
+			agentDir,
+			settingsManager,
+			extensionFactories: extensionFactory ? [extensionFactory] : [],
+		});
+		await resourceLoader.reload();
 
 		const authStorage = AuthStorage.create(join(agentDir, "auth.json"));
 		await authStorage.modify(model.provider, async () => ({ type: "api_key", key: "test-api-key" }));
@@ -99,9 +104,16 @@ describe("createAgentSession stream options", () => {
 		modelRegistry.registerProvider(model.provider, {
 			api,
 			headers: { "x-provider": "provider" },
-			streamSimple: (_model, _context, providerOptions) => {
+			streamSimple: (requestModel, _context, providerOptions) => {
 				capturedOptions = providerOptions;
-				return createDoneStream(api);
+				if (providerEvent === undefined) return createDoneStream(api);
+
+				const stream = createAssistantMessageEventStream();
+				void (async () => {
+					await providerOptions?.onProviderStreamEvent?.(providerEvent, requestModel);
+					stream.end(createDoneMessage(api));
+				})();
+				return stream;
 			},
 		});
 
@@ -114,11 +126,20 @@ describe("createAgentSession stream options", () => {
 			modelRuntime,
 			settingsManager,
 			sessionManager,
+			resourceLoader,
 		});
 
 		try {
-			const stream = await session.agent.streamFunction(model, normalizeContext({ messages: [] }), requestOptions);
-			await stream.result();
+			if (providerEvent === undefined) {
+				const stream = await session.agent.streamFunction(
+					model,
+					normalizeContext({ messages: [] }),
+					requestOptions,
+				);
+				await stream.result();
+			} else {
+				await session.prompt("test");
+			}
 			return capturedOptions;
 		} finally {
 			session.dispose();
@@ -247,12 +268,41 @@ describe("createAgentSession stream options", () => {
 		expect(options?.maxRetryDelayMs).toBe(3000);
 	});
 
+	// Regression test for #9784.
+	it("forwards provider stream events to extensions", async () => {
+		const providerEvent = { openrouter_metadata: { strategy: "direct" } };
+		const extensionEvents: unknown[] = [];
+
+		const options = await captureStreamOptions(
+			"openai-completions",
+			{},
+			{},
+			(pi) => {
+				pi.on("provider_stream_event", (event) => {
+					extensionEvents.push(event);
+				});
+			},
+			providerEvent,
+		);
+
+		expect(options?.onProviderStreamEvent).toEqual(expect.any(Function));
+		expect(extensionEvents).toEqual([
+			{
+				data: providerEvent,
+				type: "provider_stream_event",
+				provider: "capture-provider",
+				api: "openai-completions",
+				model: "capture-model",
+			},
+		]);
+	});
+
 	it("runs before_provider_headers on assembled headers without forwarding the transform", async () => {
 		const options = await captureStreamOptions(
 			"openai-completions",
 			{},
 			{ headers: { "x-explicit": "explicit" } },
-			`export default function (pi) {
+			(pi) => {
 				pi.on("before_provider_headers", (event) => {
 					event.headers["x-hook"] = [
 						event.headers["x-provider"],
@@ -260,7 +310,7 @@ describe("createAgentSession stream options", () => {
 						event.headers["x-explicit"],
 					].join(":");
 				});
-			}`,
+			},
 		);
 
 		expect(options?.headers).toMatchObject({