diff --git a/crates/oxc_mangler/src/lib.rs b/crates/oxc_mangler/src/lib.rs
index f8e2f9f1e52db..802e63173fbe1 100644
--- a/crates/oxc_mangler/src/lib.rs
+++ b/crates/oxc_mangler/src/lib.rs
@@ -436,6 +436,19 @@ impl<'t> Mangler<'t> {
         let root_unresolved_references = scoping.root_unresolved_references();
         let root_bindings = scoping.get_bindings(scoping.root_scope_id());
 
+        let mut excluded_names: FxHashSet<&str> = FxHashSet::with_capacity_and_hasher(
+            root_unresolved_references.len() + keep_name_names.len() + root_bindings.len(),
+            rustc_hash::FxBuildHasher,
+        );
+        excluded_names.extend(root_unresolved_references.keys());
+        excluded_names.extend(keep_name_names.iter().copied());
+        if self.options.top_level {
+            excluded_names
+                .extend(root_bindings.keys().filter(|&name| exported_names.contains::<str>(name)));
+        } else {
+            excluded_names.extend(root_bindings.keys());
+        }
+
         let mut reserved_names = Vec::with_capacity_in(total_number_of_slots, temp_allocator);
 
         let mut count = 0;
@@ -447,11 +460,7 @@ impl<'t> Mangler<'t> {
                 let n = name.as_str();
                 if !oxc_syntax::keyword::is_reserved_keyword(n)
                     && !is_special_name(n)
-                    && !root_unresolved_references.contains_key(n)
-                    && !(root_bindings.contains_key(n)
-                        && (!self.options.top_level || exported_names.contains(n)))
-                        // TODO: only skip the names that are kept in the current scope
-                        && !keep_name_names.contains(n)
+                    && !excluded_names.contains(n)
                 {
                     break name;
                 }
diff --git a/tasks/track_memory_allocations/allocs_minifier.snap b/tasks/track_memory_allocations/allocs_minifier.snap
index 94eca5ee1ee0f..d7f57d6cc8e19 100644
--- a/tasks/track_memory_allocations/allocs_minifier.snap
+++ b/tasks/track_memory_allocations/allocs_minifier.snap
@@ -1,14 +1,14 @@
 File                       | File size      || Sys allocs     | Sys reallocs   || Arena allocs   | Arena reallocs | Arena bytes    
 -------------------------------------------------------------------------------------------------------------------------------------------
-checker.ts                 | 2.92 MB        ||          83502 |          14179 ||         152592 |          28237
+checker.ts                 | 2.92 MB        ||          83503 |          14179 ||         152592 |          28237
 
-cal.com.tsx                | 1.06 MB        ||          40447 |           3032 ||          37138 |           4586
+cal.com.tsx                | 1.06 MB        ||          40448 |           3032 ||          37138 |           4586
 
-RadixUIAdoptionSection.jsx | 2.52 kB        ||             85 |              9 ||             30 |              6
+RadixUIAdoptionSection.jsx | 2.52 kB        ||             86 |              9 ||             30 |              6
 
-pdf.mjs                    | 567.30 kB      ||          20193 |           2899 ||          47453 |           7730
+pdf.mjs                    | 567.30 kB      ||          20194 |           2899 ||          47453 |           7730
 
-antd.js                    | 6.69 MB        ||          99534 |          13524 ||         331649 |          69358
+antd.js                    | 6.69 MB        ||          99535 |          13524 ||         331649 |          69358
 
-binder.ts                  | 193.08 kB      ||           4759 |            974 ||           7075 |            824
+binder.ts                  | 193.08 kB      ||           4760 |            974 ||           7075 |            824