diff --git a/src/pf1e_simulator/conditions.py b/src/pf1e_simulator/conditions.py
index 938201d..233a33a 100644
--- a/src/pf1e_simulator/conditions.py
+++ b/src/pf1e_simulator/conditions.py
@@ -110,12 +110,15 @@ FATIGUED = Condition(
 )
 
 # Exhausted: -6 STR, -6 DEX; half speed; can't run or charge (CRB)
-# Approximation: -3 attack, -3 damage
+# Approximation: -3 attack, -3 damage (STR/DEX), -3 AC and -3 Ref (the -6 DEX
+# = -3 to each, mirroring how ENTANGLED models its -4 DEX as -2 AC/-2 Ref).
 EXHAUSTED = Condition(
     name="exhausted",
     modifiers=(
         StatModifier(target="attack", value=-3),
         StatModifier(target="damage", value=-3),
+        StatModifier(target="ac", value=-3),
+        StatModifier(target="ref", value=-3),
     ),
     cant_charge=True,
     speed_mult=0.5,
diff --git a/tests/test_conditions.py b/tests/test_conditions.py
index fe86564..c1175c7 100644
--- a/tests/test_conditions.py
+++ b/tests/test_conditions.py
@@ -7,6 +7,7 @@ from pf1e_simulator.conditions import (
     BLINDED,
     DAZZLED,
     ENTANGLED,
+    EXHAUSTED,
     FATIGUED,
     FLAT_FOOTED,
     FRIGHTENED,
@@ -123,6 +124,17 @@ class TestConditionData:
         assert ENTANGLED.cant_charge is True
         assert ENTANGLED.speed_mult == 0.5
 
+    def test_exhausted_minus6_dex_gives_minus3_ac_and_ref(self) -> None:
+        # SRD: exhausted takes -6 to Dexterity => -3 AC and -3 Reflex
+        # (each -2 Dex = -1 AC/Ref, same modelling as entangled's -4 Dex).
+        mods = {m.target: m.value for m in EXHAUSTED.modifiers}
+        assert mods["attack"] == -3
+        assert mods["damage"] == -3
+        assert mods["ac"] == -3
+        assert mods["ref"] == -3
+        assert "fort" not in mods
+        assert "will" not in mods
+
     def test_fatigued_flags(self) -> None:
         assert FATIGUED.cant_charge is True