diff --git a/components/agent/AgentSheet.tsx b/components/agent/AgentSheet.tsx
index a461d731..448b1bb8 100644
--- a/components/agent/AgentSheet.tsx
+++ b/components/agent/AgentSheet.tsx
@@ -1,7 +1,16 @@
 'use client'
 
 import { useEffect, useRef, useState } from 'react'
-import { X, Expand, Shrink, PanelRightClose, Eraser, History, ChevronLeft, Loader2 } from 'lucide-react'
+import {
+  X,
+  Expand,
+  Shrink,
+  PanelRightClose,
+  Eraser,
+  History,
+  ChevronLeft,
+  Loader2,
+} from 'lucide-react'
 import AgentChat, {
   attachStagedOperations,
   normalizeStoredMessages,
@@ -9,6 +18,7 @@ import AgentChat, {
 } from './AgentChat'
 import type { StoredStagedOperation } from '@/types'
 import type { AgentStatusEvent } from './agent-status'
+import ContextChip from './ContextChip'
 import AgentAvatar from './AgentAvatar'
 import AgentSessionList from './AgentSessionList'
 import SandboxAgentPreview from './SandboxAgentPreview'
@@ -98,6 +108,10 @@ export default function AgentSheet({
   const sheetTitle = intentToTitle(intentId, agentName)
   const displayTitle = loaded ? (loaded.title ?? intentToTitle(loaded.intentId, agentName)) : sheetTitle
   const activeConversationId = loaded?.id ?? conversationId
+  // A resumed thread's stored ref wins: it says what THAT conversation was
+  // about, which is the whole reason to show this. Falls back to the ref the
+  // panel was opened with for a thread that has not been persisted yet.
+  const activeContextRef = loaded ? loaded.contextRef : (contextRef ?? null)
   const sheetRef = useRef<HTMLDivElement | null>(null)
   // Monotonic counter so a slow conversation fetch can't clobber a newer pick.
   const selectSeqRef = useRef(0)
@@ -257,7 +271,16 @@ export default function AgentSheet({
             </button>
           )}
           <AgentAvatar avatarId={identity.avatarId} size="sm" alt={agentName ?? 'Assistent'} />
-          <h2 className="font-display text-lg tracking-tight truncate">{displayTitle}</h2>
+          <div className="min-w-0 flex-1">
+            <h2 className="font-display text-lg leading-tight tracking-tight truncate">
+              {displayTitle}
+            </h2>
+            {/* What this conversation is anchored to. context_ref has been
+                stored since the first intents shipped and read by nothing, so a
+                thread resumed days later gave no clue which invoice it was
+                about. Matters more now the panel sits BESIDE the page. */}
+            <ContextChip contextRef={activeContextRef} className="mt-0.5" />
+          </div>
           <div className="ml-auto flex items-center gap-1">
             {/* Grow/shrink the panel in place: NEVER navigates away, so the
                 user stays on the current page. Hidden on mobile where the sheet
diff --git a/components/agent/ChatConversationView.tsx b/components/agent/ChatConversationView.tsx
index 3442c708..63f1cc0c 100644
--- a/components/agent/ChatConversationView.tsx
+++ b/components/agent/ChatConversationView.tsx
@@ -6,6 +6,7 @@ import { ArrowLeft } from 'lucide-react'
 import AgentChat, { attachStagedOperations, normalizeStoredMessages } from './AgentChat'
 import type { StoredStagedOperation } from '@/types'
 import AgentAvatar from './AgentAvatar'
+import ContextChip from './ContextChip'
 import SandboxAgentPreview from './SandboxAgentPreview'
 import { useAgentSheet } from './AgentSheetProvider'
 import { useCompanyOptional } from '@/contexts/CompanyContext'
@@ -59,10 +60,11 @@ export default function ChatConversationView({
           alt={identity.displayName ?? 'Assistent'}
         />
         <div className="min-w-0">
-          <h1 className="font-display text-lg tracking-tight truncate">{title}</h1>
-          {contextRef && (
-            <p className="text-xs text-muted-foreground truncate">{contextRef}</p>
-          )}
+          <h1 className="font-display text-lg leading-tight tracking-tight truncate">{title}</h1>
+          {/* Was printing context_ref raw, so the subtitle read
+              "invoice:5f3a-9c21-...": a database identifier, shown to an
+              accountant, under the title of their own conversation. */}
+          <ContextChip contextRef={contextRef} className="mt-0.5" />
         </div>
       </header>
 
diff --git a/components/agent/ContextChip.tsx b/components/agent/ContextChip.tsx
new file mode 100644
index 00000000..f97034b1
--- /dev/null
+++ b/components/agent/ContextChip.tsx
@@ -0,0 +1,59 @@
+'use client'
+
+import Link from 'next/link'
+import { ArrowUpRight } from 'lucide-react'
+import { contextRefToTarget } from '@/lib/agent/intents/route-mapping'
+import { cn } from '@/lib/utils'
+
+/**
+ * What a conversation is anchored to, as a chip.
+ *
+ * `agent_conversations.context_ref` has been written since the first intents
+ * shipped. The panel ignored it entirely, and /chat printed it raw, so a
+ * resumed thread's subtitle read "invoice:5f3a-9c21-...": a database
+ * identifier shown to an accountant. Both surfaces now render the same chip,
+ * which names the thing and links to it.
+ *
+ * Kind-agnostic on purpose (plan seam 8.4): the mapping lives in
+ * route-mapping.ts, so teaching every surface about a new ref kind is one
+ * entry in that map and no component change. A kind the map does not know
+ * yet, a flow run for instance, renders nothing rather than a broken link.
+ */
+export default function ContextChip({
+  contextRef,
+  className,
+}: {
+  contextRef: string | null | undefined
+  className?: string
+}) {
+  const target = contextRefToTarget(contextRef)
+  if (!target) return null
+
+  const shape =
+    'inline-flex max-w-full items-center gap-1 rounded-full border border-border px-2 py-0.5 text-xs text-muted-foreground'
+
+  // Not every context has a page to go to: the document inbox is an extension
+  // route, and core cannot hardcode a path that exists only when the extension
+  // is enabled. Naming it without linking beats a link that 404s.
+  if (!target.href) {
+    return (
+      <span className={cn(shape, className)}>
+        <span className="truncate">{target.label}</span>
+      </span>
+    )
+  }
+
+  return (
+    <Link
+      href={target.href}
+      className={cn(
+        shape,
+        'hover:bg-secondary hover:text-foreground transition-colors focus-visible:outline-none focus-visible:ring-2 focus-visible:ring-ring',
+        className,
+      )}
+    >
+      <span className="truncate">{target.label}</span>
+      <ArrowUpRight className="h-3 w-3 shrink-0" />
+    </Link>
+  )
+}
diff --git a/lib/agent/intents/__tests__/route-mapping.test.ts b/lib/agent/intents/__tests__/route-mapping.test.ts
index 8a76d456..d2cdcaf8 100644
--- a/lib/agent/intents/__tests__/route-mapping.test.ts
+++ b/lib/agent/intents/__tests__/route-mapping.test.ts
@@ -1,5 +1,5 @@
 import { describe, it, expect } from 'vitest'
-import { routeToIntent } from '../route-mapping'
+import { routeToIntent, contextRefToTarget } from '../route-mapping'
 
 describe('routeToIntent', () => {
   it('falls back to general.help when pathname is null/undefined/empty', () => {
@@ -110,3 +110,65 @@ describe('routeToIntent', () => {
     expect(out.intentId).toBe('general.help')
   })
 })
+
+describe('contextRefToTarget', () => {
+  /**
+   * Every shape the app actually writes. Collected by grepping the call sites
+   * rather than invented, so a new intent that writes a ref this cannot read
+   * shows up as a chip that never renders, not as a wrong link.
+   */
+  it('resolves each ref the app writes today', () => {
+    expect(contextRefToTarget('invoice:abc-123')).toEqual({
+      label: 'Faktura',
+      href: '/invoices/abc-123',
+    })
+    expect(contextRefToTarget('supplier_invoice:abc-123')).toEqual({
+      label: 'Leverantörsfaktura',
+      href: '/supplier-invoices/abc-123',
+    })
+    expect(contextRefToTarget('transaction:abc-123')).toEqual({
+      label: 'Transaktion',
+      href: '/transactions',
+    })
+    expect(contextRefToTarget('verifikation:new')).toEqual({
+      label: 'Verifikation',
+      href: '/bookkeeping',
+    })
+    expect(contextRefToTarget('bokslut:overview')).toEqual({
+      label: 'Bokslut',
+      href: '/bookkeeping/year-end',
+    })
+    expect(contextRefToTarget('kpi:översikt')).toEqual({ label: 'Nyckeltal', href: '/kpi' })
+  })
+
+  it('names the document inbox without linking it', () => {
+    // It is an extension route under /e/[sector]; core cannot hardcode a path
+    // that only exists when the extension is enabled.
+    expect(contextRefToTarget('inbox:bulk')).toEqual({
+      label: 'Dokumentinkorgen',
+      href: null,
+    })
+  })
+
+  it('returns nothing rather than a broken chip for refs it cannot read', () => {
+    expect(contextRefToTarget(null)).toBeNull()
+    expect(contextRefToTarget(undefined)).toBeNull()
+    expect(contextRefToTarget('')).toBeNull()
+    expect(contextRefToTarget('invoice')).toBeNull()
+    expect(contextRefToTarget('invoice:')).toBeNull()
+    expect(contextRefToTarget(':abc')).toBeNull()
+    expect(contextRefToTarget('flow_run:abc')).toBeNull()
+  })
+
+  it('keeps ids that need escaping out of the path', () => {
+    // Ids reach this from the database, not from the router.
+    expect(contextRefToTarget('invoice:a b/c')?.href).toBe('/invoices/a%20b%2Fc')
+  })
+
+  it('keeps the id intact when it contains a colon', () => {
+    // Split on the FIRST colon. Asserted on a kind that PUTS the id in the
+    // href: kpi discards its id, so the same assertion there would pass even
+    // if the parser dropped everything after the second colon.
+    expect(contextRefToTarget('invoice:abc:2026')?.href).toBe('/invoices/abc%3A2026')
+  })
+})
diff --git a/lib/agent/intents/route-mapping.ts b/lib/agent/intents/route-mapping.ts
index e4e570f5..74972cff 100644
--- a/lib/agent/intents/route-mapping.ts
+++ b/lib/agent/intents/route-mapping.ts
@@ -113,3 +113,56 @@ export function routeToIntent(pathname: string | null | undefined): RouteIntent
 
   return GENERAL_HELP(pathname)
 }
+
+/**
+ * The reverse direction: what a stored `context_ref` was about.
+ *
+ * `agent_conversations.context_ref` has been written since the first intents
+ * landed and has never been read by anything. Resuming a thread from three days
+ * ago therefore showed the messages with no indication of which invoice, which
+ * verifikat, which bokslut it concerned, even though the row knew. That matters
+ * more now the panel docks beside the page: "what is this conversation anchored
+ * to" is a question the surface should answer, not the user's memory.
+ *
+ * A data map rather than a switch in a component (plan seam 8.5), so flows can
+ * add their own ref kinds here and every surface picks them up at once.
+ */
+export interface ContextRefTarget {
+  /** Human noun for the thing, already in Swedish. */
+  label: string
+  /** Where to go to look at it, or null when there is no stable page. */
+  href: string | null
+}
+
+export function contextRefToTarget(ref: string | null | undefined): ContextRefTarget | null {
+  if (!ref) return null
+  const separator = ref.indexOf(':')
+  if (separator <= 0) return null
+  const kind = ref.slice(0, separator)
+  const id = ref.slice(separator + 1)
+  if (!id) return null
+
+  switch (kind) {
+    case 'invoice':
+      return { label: 'Faktura', href: `/invoices/${encodeURIComponent(id)}` }
+    case 'supplier_invoice':
+      return { label: 'Leverantörsfaktura', href: `/supplier-invoices/${encodeURIComponent(id)}` }
+    // No /transactions/[id] route exists: the list is the only page that can
+    // show it, so that is where the chip goes rather than a link that 404s.
+    case 'transaction':
+      return { label: 'Transaktion', href: '/transactions' }
+    case 'verifikation':
+      return { label: 'Verifikation', href: '/bookkeeping' }
+    case 'bokslut':
+      return { label: 'Bokslut', href: '/bookkeeping/year-end' }
+    case 'kpi':
+      return { label: 'Nyckeltal', href: '/kpi' }
+    // The document inbox is an extension, mounted under /e/[sector]. Core must
+    // not import from @/extensions or hardcode a route that only exists when
+    // the extension is enabled, so this names the context without linking it.
+    case 'inbox':
+      return { label: 'Dokumentinkorgen', href: null }
+    default:
+      return null
+  }
+}