diff --git a/lib/banzai/filter/abstract_reference_filter.rb b/lib/banzai/filter/abstract_reference_filter.rb
index bdaa4721b4b..6b200dc2017 100644
--- a/lib/banzai/filter/abstract_reference_filter.rb
+++ b/lib/banzai/filter/abstract_reference_filter.rb
@@ -110,13 +110,7 @@ module Banzai
             url = matches[:url] if matches.names.include?("url")
             url ||= url_for_object(object, project)
 
-            text = link_text
-            unless text
-              text = object.reference_link_text(context[:project])
-
-              extras = object_link_text_extras(object, matches)
-              text += " (#{extras.join(", ")})" if extras.any?
-            end
+            text = link_text || escape_once(object_link_text(object, matches))
 
             %(<a href="#{url}" #{data}
                  title="#{title}"
@@ -140,6 +134,15 @@ module Banzai
       def object_link_title(object)
         "#{object_class.name.titleize}: #{object.title}"
       end
+
+      def object_link_text(object, matches)
+        text = object.reference_link_text(context[:project])
+
+        extras = object_link_text_extras(object, matches)
+        text += " (#{extras.join(", ")})" if extras.any?
+
+        text
+      end
     end
   end
 end
diff --git a/lib/banzai/filter/reference_filter.rb b/lib/banzai/filter/reference_filter.rb
index 33457a3f361..c183702516a 100644
--- a/lib/banzai/filter/reference_filter.rb
+++ b/lib/banzai/filter/reference_filter.rb
@@ -48,7 +48,7 @@ module Banzai
       end
 
       def escape_once(html)
-        ERB::Util.html_escape_once(html)
+        html.html_safe? ? html : ERB::Util.html_escape_once(html)
       end
 
       def ignore_parents