diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCache.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCache.java
index 90ae3d7c4e..7731c07633 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCache.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCache.java
@@ -25,7 +25,6 @@
 
 import org.jspecify.annotations.NonNull;
 import org.jspecify.annotations.NullMarked;
-import org.jspecify.annotations.NullUnmarked;
 import org.jspecify.annotations.Nullable;
 
 /**
@@ -41,7 +40,7 @@
  * @param <V> the type of mapped values
  */
 @NullMarked
-public interface AsyncCache<K, V> {
+public interface AsyncCache<K, V extends @Nullable Object> {
 
   /**
    * Returns the future associated with the {@code key} in this cache, or {@code null} if there is
@@ -49,11 +48,10 @@ public interface AsyncCache<K, V> {
    *
    * @param key the key whose associated value is to be returned
    * @return the future value to which the specified key is mapped, or {@code null} if this cache
-   *         does not contain a mapping for the key
+   *     does not contain a mapping for the key
    * @throws NullPointerException if the specified key is null
    */
-  @Nullable
-  CompletableFuture<V> getIfPresent(K key);
+  @Nullable CompletableFuture<@NonNull V> getIfPresent(K key);
 
   /**
    * Returns the future associated with the {@code key} in this cache, obtaining that value from
@@ -73,9 +71,7 @@ public interface AsyncCache<K, V> {
    * @return the current (existing or computed) future value associated with the specified key
    * @throws NullPointerException if the specified key or mappingFunction is null
    */
-  @NullUnmarked
-  @NonNull CompletableFuture<V> get(
-      @NonNull K key, @NonNull Function<? super @NonNull K, ? extends @Nullable V> mappingFunction);
+  CompletableFuture<V> get(K key, Function<? super @NonNull K, ? extends V> mappingFunction);
 
   /**
    * Returns the future associated with the {@code key} in this cache, obtaining that value from
@@ -93,21 +89,16 @@ public interface AsyncCache<K, V> {
    *
    * @param key the key with which the specified value is to be associated
    * @param mappingFunction the function to asynchronously compute a value, optionally using the
-   *        given executor
+   *     given executor
    * @return the current (existing or computed) future value associated with the specified key
    * @throws NullPointerException if the specified key or mappingFunction is null, or if the
    *         future returned by the mappingFunction is null
    * @throws RuntimeException or Error if the mappingFunction does when constructing the future,
    *         in which case the mapping is left unestablished
    */
-  @NullUnmarked
-  @NonNull CompletableFuture<V> get(
-      @NonNull K key,
-      @NonNull
-          BiFunction<
-              ? super @NonNull K,
-              ? super @NonNull Executor,
-              ? extends @NonNull CompletableFuture<? extends @Nullable V>>
+  CompletableFuture<V> get(
+      K key,
+      BiFunction<? super K, ? super Executor, ? extends CompletableFuture<? extends V>>
           mappingFunction);
 
   /**
@@ -129,14 +120,16 @@ public interface AsyncCache<K, V> {
    * @param keys the keys whose associated values are to be returned
    * @param mappingFunction the function to asynchronously compute the values
    * @return a future containing an unmodifiable mapping of keys to values for the specified keys in
-   *         this cache
+   *     this cache
    * @throws NullPointerException if the specified collection is null or contains a null element, or
-   *         if the future returned by the mappingFunction is null
+   *     if the future returned by the mappingFunction is null
    * @throws RuntimeException or Error if the mappingFunction does so, in which case the mapping is
-   *         left unestablished
+   *     left unestablished
    */
-  CompletableFuture<Map<K, V>> getAll(Iterable<? extends K> keys,
-      Function<? super Set<? extends K>, ? extends Map<? extends K, ? extends V>> mappingFunction);
+  CompletableFuture<Map<K, @NonNull V>> getAll(
+      Iterable<? extends K> keys,
+      Function<? super Set<? extends K>, ? extends Map<? extends K, ? extends @NonNull V>>
+          mappingFunction);
 
   /**
    * Returns the future of a map of the values associated with the {@code keys}, creating or
@@ -157,17 +150,21 @@ CompletableFuture<Map<K, V>> getAll(Iterable<? extends K> keys,
    *
    * @param keys the keys whose associated values are to be returned
    * @param mappingFunction the function to asynchronously compute the values, optionally using the
-   *        given executor
+   *     given executor
    * @return a future containing an unmodifiable mapping of keys to values for the specified keys in
-   *         this cache
+   *     this cache
    * @throws NullPointerException if the specified collection is null or contains a null element, or
-   *         if the future returned by the mappingFunction is null
+   *     if the future returned by the mappingFunction is null
    * @throws RuntimeException or Error if the mappingFunction does so, in which case the mapping is
-   *         left unestablished
+   *     left unestablished
    */
-  CompletableFuture<Map<K, V>> getAll(Iterable<? extends K> keys,
-      BiFunction<? super Set<? extends K>, ? super Executor,
-          ? extends CompletableFuture<? extends Map<? extends K, ? extends V>>> mappingFunction);
+  CompletableFuture<Map<K, @NonNull V>> getAll(
+      Iterable<? extends K> keys,
+      BiFunction<
+              ? super Set<? extends K>,
+              ? super Executor,
+              ? extends CompletableFuture<? extends Map<? extends K, ? extends @NonNull V>>>
+          mappingFunction);
 
   /**
    * Associates {@code value} with {@code key} in this cache. If the cache previously contained a
@@ -181,7 +178,7 @@ CompletableFuture<Map<K, V>> getAll(Iterable<? extends K> keys,
    * @param valueFuture the value to be associated with the specified key
    * @throws NullPointerException if the specified key or value is null
    */
-  void put(K key, CompletableFuture<? extends @Nullable V> valueFuture);
+  void put(K key, CompletableFuture<? extends V> valueFuture);
 
   /**
    * Returns a view of the entries stored in this cache as a thread-safe map. Modifications made to
@@ -198,8 +195,7 @@ CompletableFuture<Map<K, V>> getAll(Iterable<? extends K> keys,
    *
    * @return a thread-safe view of this cache supporting all of the optional {@link Map} operations
    */
-  @NullUnmarked
-  @NonNull ConcurrentMap<@NonNull K, @NonNull CompletableFuture<V>> asMap();
+  ConcurrentMap<K, CompletableFuture<V>> asMap();
 
   /**
    * Returns a view of the entries stored in this cache as a synchronous {@link Cache}. A mapping is
diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCacheLoader.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCacheLoader.java
index 8abff8d7e1..382f7b6c0b 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCacheLoader.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncCacheLoader.java
@@ -24,6 +24,7 @@
 import java.util.function.BiFunction;
 import java.util.function.Function;
 
+import org.jspecify.annotations.NonNull;
 import org.jspecify.annotations.NullMarked;
 import org.jspecify.annotations.Nullable;
 
@@ -48,7 +49,7 @@
 @NullMarked
 @FunctionalInterface
 @SuppressWarnings("PMD.SignatureDeclareThrowsException")
-public interface AsyncCacheLoader<K, V> {
+public interface AsyncCacheLoader<K, V extends @Nullable Object> {
 
   /**
    * Asynchronously computes or retrieves the value corresponding to {@code key}.
@@ -63,7 +64,7 @@ public interface AsyncCacheLoader<K, V> {
    *         treated like any other {@code Exception} in all respects except that, when it is
    *         caught, the thread's interrupt status is set
    */
-  CompletableFuture<? extends @Nullable V> asyncLoad(K key, Executor executor) throws Exception;
+  CompletableFuture<? extends V> asyncLoad(K key, Executor executor) throws Exception;
 
   /**
    * Asynchronously computes or retrieves the values corresponding to {@code keys}. This method is
@@ -89,7 +90,7 @@ public interface AsyncCacheLoader<K, V> {
    *         treated like any other {@code Exception} in all respects except that, when it is
    *         caught, the thread's interrupt status is set
    */
-  default CompletableFuture<? extends Map<? extends K, ? extends V>> asyncLoadAll(
+  default CompletableFuture<? extends Map<? extends K, ? extends @NonNull V>> asyncLoadAll(
       Set<? extends K> keys, Executor executor) throws Exception {
     throw new UnsupportedOperationException();
   }
@@ -115,8 +116,8 @@ public interface AsyncCacheLoader<K, V> {
    *         treated like any other {@code Exception} in all respects except that, when it is
    *         caught, the thread's interrupt status is set
    */
-  default CompletableFuture<? extends @Nullable V> asyncReload(
-      K key, V oldValue, Executor executor) throws Exception {
+  default CompletableFuture<? extends V> asyncReload(
+      K key, @NonNull V oldValue, Executor executor) throws Exception {
     return asyncLoad(key, executor);
   }
 
@@ -138,8 +139,9 @@ public interface AsyncCacheLoader<K, V> {
    * @return an asynchronous cache loader that delegates to the supplied {@code mappingFunction}
    * @throws NullPointerException if the mappingFunction is null
    */
-  static <K, V> AsyncCacheLoader<K, V> bulk(Function<? super Set<? extends K>,
-      ? extends Map<? extends K, ? extends V>> mappingFunction) {
+  static <K, V extends @Nullable Object> AsyncCacheLoader<K, V> bulk(
+      Function<? super Set<? extends K>, ? extends Map<? extends K, ? extends @NonNull V>>
+          mappingFunction) {
     return CacheLoader.bulk(mappingFunction);
   }
 
@@ -161,8 +163,12 @@ static <K, V> AsyncCacheLoader<K, V> bulk(Function<? super Set<? extends K>,
    * @return an asynchronous cache loader that delegates to the supplied {@code mappingFunction}
    * @throws NullPointerException if the mappingFunction is null
    */
-  static <K, V> AsyncCacheLoader<K, V> bulk(BiFunction<? super Set<? extends K>, ? super Executor,
-      ? extends CompletableFuture<? extends Map<? extends K, ? extends V>>> mappingFunction) {
+  static <K, V extends @Nullable Object> AsyncCacheLoader<K, V> bulk(
+      BiFunction<
+          ? super Set<? extends K>,
+          ? super Executor,
+          ? extends CompletableFuture<? extends Map<? extends K, ? extends @NonNull V>>>
+      mappingFunction) {
     requireNonNull(mappingFunction);
     return new AsyncCacheLoader<>() {
       @Override public CompletableFuture<V> asyncLoad(K key, Executor executor) {
diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncLoadingCache.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncLoadingCache.java
index f714203e92..1e54ec0751 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncLoadingCache.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/AsyncLoadingCache.java
@@ -20,7 +20,7 @@
 
 import org.jspecify.annotations.NonNull;
 import org.jspecify.annotations.NullMarked;
-import org.jspecify.annotations.NullUnmarked;
+import org.jspecify.annotations.Nullable;
 
 /**
  * A semi-persistent mapping from keys to values. Values are automatically loaded by the cache
@@ -34,7 +34,7 @@
  * @param <V> the type of mapped values
  */
 @NullMarked
-public interface AsyncLoadingCache<K, V> extends AsyncCache<K, V> {
+public interface AsyncLoadingCache<K, V extends @Nullable Object> extends AsyncCache<K, V> {
 
   /**
    * Returns the future associated with the {@code key} in this cache, obtaining that value from
@@ -52,8 +52,7 @@ public interface AsyncLoadingCache<K, V> extends AsyncCache<K, V> {
    * @throws RuntimeException or Error if the {@link AsyncCacheLoader} does when constructing the
    *         future, in which case the mapping is left unestablished
    */
-  @NullUnmarked
-  @NonNull CompletableFuture<V> get(@NonNull K key);
+  CompletableFuture<V> get(K key);
 
   /**
    * Returns the future of a map of the values associated with {@code keys}, creating or retrieving
@@ -81,7 +80,7 @@ public interface AsyncLoadingCache<K, V> extends AsyncCache<K, V> {
    *         {@link AsyncCacheLoader#asyncLoadAll} returns {@code null}, or fails when constructing
    *         the future, in which case the mapping is left unestablished
    */
-  CompletableFuture<Map<K, V>> getAll(Iterable<? extends K> keys);
+  CompletableFuture<Map<K, @NonNull V>> getAll(Iterable<? extends K> keys);
 
   /**
    * Returns a view of the entries stored in this cache as a synchronous {@link LoadingCache}. A
diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Cache.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Cache.java
index 8f825ed90a..2e2dd682a3 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Cache.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Cache.java
@@ -22,7 +22,6 @@
 
 import org.jspecify.annotations.NonNull;
 import org.jspecify.annotations.NullMarked;
-import org.jspecify.annotations.NullUnmarked;
 import org.jspecify.annotations.Nullable;
 
 import com.github.benmanes.caffeine.cache.stats.CacheStats;
@@ -40,7 +39,7 @@
  * @param <V> the type of mapped values
  */
 @NullMarked
-public interface Cache<K, V> {
+public interface Cache<K, V extends @Nullable Object> {
 
   /**
    * Returns the value associated with the {@code key} in this cache, or {@code null} if there is no
@@ -48,7 +47,7 @@ public interface Cache<K, V> {
    *
    * @param key the key whose associated value is to be returned
    * @return the value to which the specified key is mapped, or {@code null} if this cache does not
-   *         contain a mapping for the key
+   *     contain a mapping for the key
    * @throws NullPointerException if the specified key is null
    */
   @Nullable
@@ -72,15 +71,14 @@ public interface Cache<K, V> {
    * @param key the key with which the specified value is to be associated
    * @param mappingFunction the function to compute a value
    * @return the current (existing or computed) value associated with the specified key, or null if
-   *         the computed value is null
+   *     the computed value is null
    * @throws NullPointerException if the specified key or mappingFunction is null
    * @throws IllegalStateException if the computation detectably attempts a recursive update to this
-   *         cache that would otherwise never complete
+   *     cache that would otherwise never complete
    * @throws RuntimeException or Error if the mappingFunction does so, in which case the mapping is
-   *         left unestablished
+   *     left unestablished
    */
-  @NullUnmarked
-  V get(@NonNull K key, Function<? super @NonNull K, ? extends @Nullable V> mappingFunction);
+  V get(K key, Function<? super K, ? extends V> mappingFunction);
 
   /**
    * Returns a map of the values associated with the {@code keys} in this cache. The returned map
@@ -93,7 +91,7 @@ public interface Cache<K, V> {
    * @return an unmodifiable mapping of keys to values for the specified keys found in this cache
    * @throws NullPointerException if the specified collection is null or contains a null element
    */
-  Map<K, V> getAllPresent(Iterable<? extends K> keys);
+  Map<K, @NonNull V> getAllPresent(Iterable<? extends K> keys);
 
   /**
    * Returns a map of the values associated with the {@code keys}, creating or retrieving those
@@ -117,12 +115,14 @@ public interface Cache<K, V> {
    * @param mappingFunction the function to compute the values
    * @return an unmodifiable mapping of keys to values for the specified keys in this cache
    * @throws NullPointerException if the specified collection is null or contains a null element, or
-   *         if the map returned by the mappingFunction is null
+   *     if the map returned by the mappingFunction is null
    * @throws RuntimeException or Error if the mappingFunction does so, in which case the mapping is
-   *         left unestablished
+   *     left unestablished
    */
-  Map<K, V> getAll(Iterable<? extends K> keys,
-      Function<? super Set<? extends K>, ? extends Map<? extends K, ? extends V>> mappingFunction);
+  Map<K, @NonNull V> getAll(
+      Iterable<? extends K> keys,
+      Function<? super Set<? extends K>, ? extends Map<? extends K, ? extends @NonNull V>>
+          mappingFunction);
 
   /**
    * Associates the {@code value} with the {@code key} in this cache. If the cache previously
@@ -136,7 +136,7 @@ Map<K, V> getAll(Iterable<? extends K> keys,
    * @param value value to be associated with the specified key
    * @throws NullPointerException if the specified key or value is null
    */
-  void put(K key, V value);
+  void put(K key, @NonNull V value);
 
   /**
    * Copies all of the mappings from the specified map to the cache. The effect of this call is
@@ -146,9 +146,9 @@ Map<K, V> getAll(Iterable<? extends K> keys,
    *
    * @param map the mappings to be stored in this cache
    * @throws NullPointerException if the specified map is null or the specified map contains null
-   *         keys or values
+   *     keys or values
    */
-  void putAll(Map<? extends K, ? extends V> map);
+  void putAll(Map<? extends K, ? extends @NonNull V> map);
 
   /**
    * Discards any cached value for the {@code key}. The behavior of this operation is undefined for
@@ -210,7 +210,7 @@ Map<K, V> getAll(Iterable<? extends K> keys,
    *
    * @return a thread-safe view of this cache supporting all of the optional {@link Map} operations
    */
-  ConcurrentMap<K, V> asMap();
+  ConcurrentMap<K, @NonNull V> asMap();
 
   /**
    * Performs any pending maintenance operations needed by the cache. Exactly which activities are
@@ -228,5 +228,5 @@ Map<K, V> getAll(Iterable<? extends K> keys,
    *
    * @return access to inspect and perform advanced operations based on the cache's characteristics
    */
-  Policy<K, V> policy();
+  Policy<K, @NonNull V> policy();
 }
diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/CacheLoader.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/CacheLoader.java
index 3d8b9ca642..b470946604 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/CacheLoader.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/CacheLoader.java
@@ -24,6 +24,7 @@
 import java.util.concurrent.Executor;
 import java.util.function.Function;
 
+import org.jspecify.annotations.NonNull;
 import org.jspecify.annotations.NullMarked;
 import org.jspecify.annotations.Nullable;
 
@@ -47,7 +48,7 @@
 @NullMarked
 @FunctionalInterface
 @SuppressWarnings({"FunctionalInterfaceMethodChanged", "PMD.SignatureDeclareThrowsException"})
-public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
+public interface CacheLoader<K, V extends @Nullable Object> extends AsyncCacheLoader<K, V> {
 
   /**
    * Computes or retrieves the value corresponding to {@code key}.
@@ -61,7 +62,6 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    *         treated like any other {@code Exception} in all respects except that, when it is
    *         caught, the thread's interrupt status is set
    */
-  @Nullable
   V load(K key) throws Exception;
 
   /**
@@ -87,7 +87,7 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    *         treated like any other {@code Exception} in all respects except that, when it is
    *         caught, the thread's interrupt status is set
    */
-  default Map<? extends K, ? extends V> loadAll(Set<? extends K> keys) throws Exception {
+  default Map<? extends K, ? extends @NonNull V> loadAll(Set<? extends K> keys) throws Exception {
     throw new UnsupportedOperationException();
   }
 
@@ -101,7 +101,7 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    * @return the future value associated with {@code key}
    */
   @Override
-  default CompletableFuture<? extends @Nullable V> asyncLoad(K key, Executor executor) throws Exception {
+  default CompletableFuture<? extends V> asyncLoad(K key, Executor executor) throws Exception {
     requireNonNull(key);
     requireNonNull(executor);
     return CompletableFuture.supplyAsync(() -> {
@@ -136,7 +136,7 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    *         that key; <b>may not contain null values</b>
    */
   @Override
-  default CompletableFuture<? extends Map<? extends K, ? extends V>> asyncLoadAll(
+  default CompletableFuture<? extends Map<? extends K, ? extends @NonNull V>> asyncLoadAll(
       Set<? extends K> keys, Executor executor) throws Exception {
     requireNonNull(keys);
     requireNonNull(executor);
@@ -171,7 +171,7 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    *         treated like any other {@code Exception} in all respects except that, when it is
    *         caught, the thread's interrupt status is set
    */
-  default @Nullable V reload(K key, V oldValue) throws Exception {
+  default V reload(K key, @NonNull V oldValue) throws Exception {
     return load(key);
   }
 
@@ -193,8 +193,8 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    *         {@code null} if the mapping is to be removed
    */
   @Override
-  default CompletableFuture<? extends @Nullable V> asyncReload(
-      K key, V oldValue, Executor executor) throws Exception {
+  default CompletableFuture<? extends V> asyncReload(
+      K key, @NonNull V oldValue, Executor executor) throws Exception {
     requireNonNull(key);
     requireNonNull(executor);
     return CompletableFuture.supplyAsync(() -> {
@@ -226,14 +226,20 @@ public interface CacheLoader<K, V> extends AsyncCacheLoader<K, V> {
    * @throws NullPointerException if the mappingFunction is null
    */
   @SuppressWarnings("FunctionalInterfaceClash")
-  static <K, V> CacheLoader<K, V> bulk(Function<? super Set<? extends K>,
-      ? extends Map<? extends K, ? extends V>> mappingFunction) {
+  static <K, V extends @Nullable Object> CacheLoader<K, V> bulk(Function<? super Set<? extends K>,
+      ? extends Map<? extends K, ? extends @NonNull V>> mappingFunction) {
     requireNonNull(mappingFunction);
     return new CacheLoader<>() {
-      @Override public @Nullable V load(K key) {
+      /*
+       * If the caller passes a mapping function that may ever return partial results, then calls to
+       * load() may return null. In that case, the caller should type the return value of bulk(...)
+       * as a CacheLoader<Foo, @Nullable Bar>, rather than a CacheLoader<Foo, Bar>.
+       */
+      @SuppressWarnings("NullAway")
+      @Override public V load(K key) {
         return loadAll(Set.of(key)).get(key);
       }
-      @Override public Map<? extends K, ? extends V> loadAll(Set<? extends K> keys) {
+      @Override public Map<? extends K, ? extends @NonNull V> loadAll(Set<? extends K> keys) {
         return mappingFunction.apply(keys);
       }
     };
diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Caffeine.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Caffeine.java
index f4e5f23428..4691f0e111 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Caffeine.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/Caffeine.java
@@ -1056,7 +1056,7 @@ boolean isBounded() {
    * @param <V1> the value type of the cache
    * @return a cache having the requested features
    */
-  public <K1 extends K, V1 extends V> Cache<K1, V1> build() {
+  public <K1 extends K, V1 extends @Nullable V> Cache<K1, V1> build() {
     requireWeightWithWeigher();
     requireNonLoadingCache();
 
@@ -1081,7 +1081,7 @@ public <K1 extends K, V1 extends V> Cache<K1, V1> build() {
    * @param <V1> the value type of the loader
    * @return a cache having the requested features
    */
-  public <K1 extends K, V1 extends V> LoadingCache<K1, V1> build(
+  public <K1 extends K, V1 extends @Nullable V> LoadingCache<K1, V1> build(
       CacheLoader<? super K1, V1> loader) {
     requireWeightWithWeigher();
 
@@ -1112,7 +1112,7 @@ public <K1 extends K, V1 extends V> LoadingCache<K1, V1> build(
    * @param <V1> the value type of the cache
    * @return a cache having the requested features
    */
-  public <K1 extends K, V1 extends V> AsyncCache<K1, V1> buildAsync() {
+  public <K1 extends K, V1 extends @Nullable V> AsyncCache<K1, V1> buildAsync() {
     requireState(valueStrength == null, "Weak or soft values can not be combined with AsyncCache");
     requireState(isStrongKeys() || (evictionListener == null),
         "Weak keys cannot be combined with eviction listener and AsyncLoadingCache");
@@ -1144,7 +1144,7 @@ public <K1 extends K, V1 extends V> AsyncCache<K1, V1> buildAsync() {
    * @param <V1> the value type of the loader
    * @return a cache having the requested features
    */
-  public <K1 extends K, V1 extends V> AsyncLoadingCache<K1, V1> buildAsync(
+  public <K1 extends K, V1 extends @Nullable V> AsyncLoadingCache<K1, V1> buildAsync(
       CacheLoader<? super K1, V1> loader) {
     return buildAsync((AsyncCacheLoader<? super K1, V1>) loader);
   }
@@ -1167,7 +1167,7 @@ public <K1 extends K, V1 extends V> AsyncLoadingCache<K1, V1> buildAsync(
    * @param <V1> the value type of the loader
    * @return a cache having the requested features
    */
-  public <K1 extends K, V1 extends V> AsyncLoadingCache<K1, V1> buildAsync(
+  public <K1 extends K, V1 extends @Nullable V> AsyncLoadingCache<K1, V1> buildAsync(
       AsyncCacheLoader<? super K1, V1> loader) {
     requireState(valueStrength == null,
         "Weak or soft values can not be combined with AsyncLoadingCache");
diff --git a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/LoadingCache.java b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/LoadingCache.java
index f354e84fb9..14caf119e3 100644
--- a/caffeine/src/main/java/com/github/benmanes/caffeine/cache/LoadingCache.java
+++ b/caffeine/src/main/java/com/github/benmanes/caffeine/cache/LoadingCache.java
@@ -21,7 +21,7 @@
 
 import org.jspecify.annotations.NonNull;
 import org.jspecify.annotations.NullMarked;
-import org.jspecify.annotations.NullUnmarked;
+import org.jspecify.annotations.Nullable;
 
 import com.google.errorprone.annotations.CanIgnoreReturnValue;
 
@@ -37,7 +37,7 @@
  * @param <V> the type of mapped values
  */
 @NullMarked
-public interface LoadingCache<K, V> extends Cache<K, V> {
+public interface LoadingCache<K, V extends @Nullable Object> extends Cache<K, V> {
 
   /**
    * Returns the value associated with the {@code key} in this cache, obtaining that value from
@@ -64,8 +64,7 @@ public interface LoadingCache<K, V> extends Cache<K, V> {
    * @throws RuntimeException or Error if the {@link CacheLoader} does so, in which case the mapping
    *         is left unestablished
    */
-  @NullUnmarked
-  V get(@NonNull K key);
+  V get(K key);
 
   /**
    * Returns a map of the values associated with the {@code keys}, creating or retrieving those
@@ -92,7 +91,7 @@ public interface LoadingCache<K, V> extends Cache<K, V> {
    *         {@link CacheLoader#loadAll} returns {@code null}, or returns a map containing null keys
    *         or values. In all cases, the mapping is left unestablished.
    */
-  Map<K, V> getAll(Iterable<? extends K> keys);
+  Map<K, @NonNull V> getAll(Iterable<? extends K> keys);
 
   /**
    * Loads a new value for the {@code key}, asynchronously. While the new value is loading the
@@ -113,8 +112,7 @@ public interface LoadingCache<K, V> extends Cache<K, V> {
    * @throws NullPointerException if the specified key is null
    */
   @CanIgnoreReturnValue
-  @NullUnmarked
-  @NonNull CompletableFuture<V> refresh(@NonNull K key);
+  CompletableFuture<V> refresh(K key);
 
   /**
    * Loads a new value for each {@code key}, asynchronously. While the new value is loading the
@@ -134,5 +132,5 @@ public interface LoadingCache<K, V> extends Cache<K, V> {
    * @throws NullPointerException if the specified collection is null or contains a null element
    */
   @CanIgnoreReturnValue
-  CompletableFuture<Map<K, V>> refreshAll(Iterable<? extends K> keys);
+  CompletableFuture<Map<K, @NonNull V>> refreshAll(Iterable<? extends K> keys);
 }
diff --git a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheFactory.java b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheFactory.java
index 6d6113a312..5ca75fc090 100644
--- a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheFactory.java
+++ b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheFactory.java
@@ -218,6 +218,8 @@ private CacheProxy<K, V> newLoadingCacheProxy() {
       CacheLoader<K, V> cacheLoader = config.getCacheLoaderFactory().create();
       var adapter = new JCacheLoaderAdapter<>(
           cacheLoader, dispatcher, expiryPolicy, ticker, statistics);
+      // NullAway appears not to understand `V1 extends @Nullable V` in Caffeine.build.
+      @SuppressWarnings("NullAway")
       var cache = new LoadingCacheProxy<>(cacheName, executor, cacheManager, config,
           caffeine.build(adapter), dispatcher, cacheLoader, expiryPolicy, ticker, statistics);
       adapter.setCache(cache);
diff --git a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheProxy.java b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheProxy.java
index 33d5f18355..bcfc905615 100644
--- a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheProxy.java
+++ b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/CacheProxy.java
@@ -83,7 +83,7 @@
 public class CacheProxy<K, V> implements Cache<K, V> {
   private static final Logger logger = System.getLogger(CacheProxy.class.getName());
 
-  protected final com.github.benmanes.caffeine.cache.Cache<K, Expirable<V>> cache;
+  protected final com.github.benmanes.caffeine.cache.Cache<K, @Nullable Expirable<V>> cache;
   protected final Optional<CacheLoader<K, V>> cacheLoader;
   protected final Set<CompletableFuture<?>> inFlight;
   protected final JCacheStatisticsMXBean statistics;
@@ -104,7 +104,7 @@ public class CacheProxy<K, V> implements Cache<K, V> {
   @SuppressWarnings({"PMD.ExcessiveParameterList", "this-escape", "TooManyParameters"})
   public CacheProxy(String name, Executor executor, CacheManager cacheManager,
       CaffeineConfiguration<K, V> configuration,
-      com.github.benmanes.caffeine.cache.Cache<K, Expirable<V>> cache,
+      com.github.benmanes.caffeine.cache.Cache<K, @Nullable Expirable<V>> cache,
       EventDispatcher<K, V> dispatcher, Optional<CacheLoader<K, V>> cacheLoader,
       ExpiryPolicy expiry, Ticker ticker, JCacheStatisticsMXBean statistics) {
     this.writer = requireNonNullElse(configuration.getCacheWriter(), DisabledCacheWriter.get());
@@ -213,7 +213,9 @@ public Map<K, V> getAll(Set<? extends K> keys) {
    */
   protected Map<K, Expirable<V>> getAndFilterExpiredEntries(
       Set<? extends K> keys, boolean updateAccessTime) {
-    var result = new HashMap<>(cache.getAllPresent(keys));
+    // NullAway does not yet understand the @NonNull annotation in the return type of getAllPresent.
+    @SuppressWarnings("NullAway")
+    var result = new HashMap<K, Expirable<V>>(cache.getAllPresent(keys));
 
     int[] expired = { 0 };
     long[] millis = { 0L };
@@ -1214,6 +1216,8 @@ protected final long getWriteexpireTimeMillis(boolean created) {
 
   /** An iterator to safely expose the cache entries. */
   final class EntryIterator implements Iterator<Cache.Entry<K, V>> {
+    // NullAway does not yet understand the @NonNull annotation in the return type of asMap.
+    @SuppressWarnings("NullAway")
     final Iterator<Map.Entry<K, Expirable<V>>> delegate = cache.asMap().entrySet().iterator();
     Map.@Nullable Entry<K, Expirable<V>> current;
     Map.@Nullable Entry<K, Expirable<V>> cursor;
diff --git a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/LoadingCacheProxy.java b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/LoadingCacheProxy.java
index ce827306e9..840759ca57 100644
--- a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/LoadingCacheProxy.java
+++ b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/LoadingCacheProxy.java
@@ -48,11 +48,11 @@
  */
 @SuppressWarnings("OvershadowingSubclassFields")
 public final class LoadingCacheProxy<K, V> extends CacheProxy<K, V> {
-  private final LoadingCache<K, Expirable<V>> cache;
+  private final LoadingCache<K, @Nullable Expirable<V>> cache;
 
   @SuppressWarnings({"PMD.ExcessiveParameterList", "TooManyParameters"})
   public LoadingCacheProxy(String name, Executor executor, CacheManager cacheManager,
-      CaffeineConfiguration<K, V> configuration, LoadingCache<K, Expirable<V>> cache,
+      CaffeineConfiguration<K, V> configuration, LoadingCache<K, @Nullable Expirable<V>> cache,
       EventDispatcher<K, V> dispatcher, CacheLoader<K, V> cacheLoader,
       ExpiryPolicy expiry, Ticker ticker, JCacheStatisticsMXBean statistics) {
     super(name, executor, cacheManager, configuration, cache, dispatcher,
diff --git a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/integration/JCacheLoaderAdapter.java b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/integration/JCacheLoaderAdapter.java
index 560b96d410..5d7e00d44f 100644
--- a/jcache/src/main/java/com/github/benmanes/caffeine/jcache/integration/JCacheLoaderAdapter.java
+++ b/jcache/src/main/java/com/github/benmanes/caffeine/jcache/integration/JCacheLoaderAdapter.java
@@ -43,7 +43,7 @@
  * @author ben.manes@gmail.com (Ben Manes)
  */
 public final class JCacheLoaderAdapter<K, V>
-    implements com.github.benmanes.caffeine.cache.CacheLoader<K, Expirable<V>> {
+    implements com.github.benmanes.caffeine.cache.CacheLoader<K, @Nullable Expirable<V>> {
   private static final Logger logger = System.getLogger(JCacheLoaderAdapter.class.getName());
 
   private final JCacheStatisticsMXBean statistics;