diff --git a/lib/init-action.js b/lib/init-action.js
index 6c92b83a7..aaa4836d7 100644
--- a/lib/init-action.js
+++ b/lib/init-action.js
@@ -87317,6 +87317,7 @@ async function checkHashPatterns(codeql, features, language, cacheConfig, checkT
 }
 async function downloadDependencyCaches(codeql, features, languages, logger) {
   const status = [];
+  const restoredKeys = [];
   for (const language of languages) {
     const cacheConfig = defaultCacheConfigs[language];
     if (cacheConfig === void 0) {
@@ -87355,14 +87356,22 @@ async function downloadDependencyCaches(codeql, features, languages, logger) {
     const download_duration_ms = Math.round(performance.now() - start);
     if (hitKey !== void 0) {
       logger.info(`Cache hit on key ${hitKey} for ${language}.`);
-      const hit_kind = hitKey === primaryKey ? "exact" /* Exact */ : "partial" /* Partial */;
-      status.push({ language, hit_kind, download_duration_ms });
+      let hit_kind = "partial" /* Partial */;
+      if (hitKey === primaryKey) {
+        hit_kind = "exact" /* Exact */;
+      }
+      status.push({
+        language,
+        hit_kind,
+        download_duration_ms
+      });
+      restoredKeys.push(hitKey);
     } else {
       status.push({ language, hit_kind: "miss" /* Miss */ });
       logger.info(`No suitable cache found for ${language}.`);
     }
   }
-  return status;
+  return { statusReport: status, restoredKeys };
 }
 async function cacheKey2(codeql, features, language, patterns) {
   const hash = await glob.hashFiles(patterns.join("\n"));
@@ -89994,7 +90003,7 @@ async function run() {
     return;
   }
   let overlayBaseDatabaseStats;
-  let dependencyCachingResults;
+  let dependencyCachingStatus;
   try {
     if (config.overlayDatabaseMode === "overlay" /* Overlay */ && config.useOverlayDatabaseCaching) {
       overlayBaseDatabaseStats = await downloadOverlayBaseDatabaseFromCache(
@@ -90135,12 +90144,13 @@ exec ${goBinaryPath} "$@"`
       }
     }
     if (shouldRestoreCache(config.dependencyCachingEnabled)) {
-      dependencyCachingResults = await downloadDependencyCaches(
+      const dependencyCachingResult = await downloadDependencyCaches(
         codeql,
         features,
         config.languages,
         logger
       );
+      dependencyCachingStatus = dependencyCachingResult.statusReport;
     }
     if (await codeQlVersionAtLeast(codeql, "2.17.1")) {
     } else {
@@ -90241,7 +90251,7 @@ exec ${goBinaryPath} "$@"`
       toolsSource,
       toolsVersion,
       overlayBaseDatabaseStats,
-      dependencyCachingResults,
+      dependencyCachingStatus,
       logger,
       error4
     );
@@ -90259,7 +90269,7 @@ exec ${goBinaryPath} "$@"`
     toolsSource,
     toolsVersion,
     overlayBaseDatabaseStats,
-    dependencyCachingResults,
+    dependencyCachingStatus,
     logger
   );
 }
diff --git a/src/dependency-caching.test.ts b/src/dependency-caching.test.ts
index eefb8504c..3c8f0f276 100644
--- a/src/dependency-caching.test.ts
+++ b/src/dependency-caching.test.ts
@@ -237,15 +237,17 @@ test("downloadDependencyCaches - does not restore caches with feature keys if no
     .resolves(CSHARP_BASE_PATTERNS);
   makePatternCheckStub.withArgs(CSHARP_EXTRA_PATTERNS).resolves(undefined);
 
-  const results = await downloadDependencyCaches(
+  const result = await downloadDependencyCaches(
     codeql,
     createFeatures([]),
     [KnownLanguage.csharp],
     logger,
   );
-  t.is(results.length, 1);
-  t.is(results[0].language, KnownLanguage.csharp);
-  t.is(results[0].hit_kind, CacheHitKind.Miss);
+  const statusReport = result.statusReport;
+  t.is(statusReport.length, 1);
+  t.is(statusReport[0].language, KnownLanguage.csharp);
+  t.is(statusReport[0].hit_kind, CacheHitKind.Miss);
+  t.deepEqual(result.restoredKeys, []);
   t.assert(restoreCacheStub.calledOnce);
 });
 
@@ -257,7 +259,8 @@ test("downloadDependencyCaches - restores caches with feature keys if features a
   const logger = getRecordingLogger(messages);
   const features = createFeatures([Feature.CsharpNewCacheKey]);
 
-  sinon.stub(glob, "hashFiles").resolves("abcdef");
+  const mockHash = "abcdef";
+  sinon.stub(glob, "hashFiles").resolves(mockHash);
 
   const keyWithFeature = await cacheKey(
     codeql,
@@ -277,15 +280,28 @@ test("downloadDependencyCaches - restores caches with feature keys if features a
     .resolves(CSHARP_BASE_PATTERNS);
   makePatternCheckStub.withArgs(CSHARP_EXTRA_PATTERNS).resolves(undefined);
 
-  const results = await downloadDependencyCaches(
+  const result = await downloadDependencyCaches(
     codeql,
     features,
     [KnownLanguage.csharp],
     logger,
   );
-  t.is(results.length, 1);
-  t.is(results[0].language, KnownLanguage.csharp);
-  t.is(results[0].hit_kind, CacheHitKind.Exact);
+
+  // Check that the status report for telemetry indicates that one cache was restored with an exact match.
+  const statusReport = result.statusReport;
+  t.is(statusReport.length, 1);
+  t.is(statusReport[0].language, KnownLanguage.csharp);
+  t.is(statusReport[0].hit_kind, CacheHitKind.Exact);
+
+  // Check that the restored key has been returned.
+  const restoredKeys = result.restoredKeys;
+  t.is(restoredKeys.length, 1);
+  t.assert(
+    restoredKeys[0].endsWith(mockHash),
+    "Expected restored key to end with hash returned by `hashFiles`",
+  );
+
+  // `restoreCache` should have been called exactly once.
   t.assert(restoreCacheStub.calledOnce);
 });
 
@@ -297,8 +313,14 @@ test("downloadDependencyCaches - restores caches with feature keys if features a
   const logger = getRecordingLogger(messages);
   const features = createFeatures([Feature.CsharpNewCacheKey]);
 
+  // We expect two calls to `hashFiles`: the first by the call to `cacheKey` below,
+  // and the second by `downloadDependencyCaches`. We use the result of the first
+  // call as part of the cache key that identifies a mock, existing cache. The result
+  // of the second call is for the primary restore key, which we don't want to match
+  // the first key so that we can test the restore keys logic.
+  const restoredHash = "abcdef";
   const hashFilesStub = sinon.stub(glob, "hashFiles");
-  hashFilesStub.onFirstCall().resolves("abcdef");
+  hashFilesStub.onFirstCall().resolves(restoredHash);
   hashFilesStub.onSecondCall().resolves("123456");
 
   const keyWithFeature = await cacheKey(
@@ -319,15 +341,27 @@ test("downloadDependencyCaches - restores caches with feature keys if features a
     .resolves(CSHARP_BASE_PATTERNS);
   makePatternCheckStub.withArgs(CSHARP_EXTRA_PATTERNS).resolves(undefined);
 
-  const results = await downloadDependencyCaches(
+  const result = await downloadDependencyCaches(
     codeql,
     features,
     [KnownLanguage.csharp],
     logger,
   );
-  t.is(results.length, 1);
-  t.is(results[0].language, KnownLanguage.csharp);
-  t.is(results[0].hit_kind, CacheHitKind.Partial);
+
+  // Check that the status report for telemetry indicates that one cache was restored with a partial match.
+  const statusReport = result.statusReport;
+  t.is(statusReport.length, 1);
+  t.is(statusReport[0].language, KnownLanguage.csharp);
+  t.is(statusReport[0].hit_kind, CacheHitKind.Partial);
+
+  // Check that the restored key has been returned.
+  const restoredKeys = result.restoredKeys;
+  t.is(restoredKeys.length, 1);
+  t.assert(
+    restoredKeys[0].endsWith(restoredHash),
+    "Expected restored key to end with hash returned by `hashFiles`",
+  );
+
   t.assert(restoreCacheStub.calledOnce);
 });
 
diff --git a/src/dependency-caching.ts b/src/dependency-caching.ts
index 220f1d5ba..22c5b40b3 100644
--- a/src/dependency-caching.ts
+++ b/src/dependency-caching.ts
@@ -193,6 +193,14 @@ export interface DependencyCacheRestoreStatus {
 /** An array of `DependencyCacheRestoreStatus` objects for each analysed language with a caching configuration. */
 export type DependencyCacheRestoreStatusReport = DependencyCacheRestoreStatus[];
 
+/** Represents the results of `downloadDependencyCaches`. */
+export interface DownloadDependencyCachesResult {
+  /** The status report for telemetry */
+  statusReport: DependencyCacheRestoreStatusReport;
+  /** An array of cache keys that we have restored and therefore know to exist. */
+  restoredKeys: string[];
+}
+
 /**
  * A wrapper around `cacheConfig.getHashPatterns` which logs when there are no files to calculate
  * a hash for the cache key from.
@@ -239,8 +247,9 @@ export async function downloadDependencyCaches(
   features: FeatureEnablement,
   languages: Language[],
   logger: Logger,
-): Promise<DependencyCacheRestoreStatusReport> {
+): Promise<DownloadDependencyCachesResult> {
   const status: DependencyCacheRestoreStatusReport = [];
+  const restoredKeys: string[] = [];
 
   for (const language of languages) {
     const cacheConfig = defaultCacheConfigs[language];
@@ -288,16 +297,27 @@ export async function downloadDependencyCaches(
 
     if (hitKey !== undefined) {
       logger.info(`Cache hit on key ${hitKey} for ${language}.`);
-      const hit_kind =
-        hitKey === primaryKey ? CacheHitKind.Exact : CacheHitKind.Partial;
-      status.push({ language, hit_kind, download_duration_ms });
+
+      // We have a partial cache hit, unless the key of the restored cache matches the
+      // primary restore key.
+      let hit_kind = CacheHitKind.Partial;
+      if (hitKey === primaryKey) {
+        hit_kind = CacheHitKind.Exact;
+      }
+
+      status.push({
+        language,
+        hit_kind,
+        download_duration_ms,
+      });
+      restoredKeys.push(hitKey);
     } else {
       status.push({ language, hit_kind: CacheHitKind.Miss });
       logger.info(`No suitable cache found for ${language}.`);
     }
   }
 
-  return status;
+  return { statusReport: status, restoredKeys };
 }
 
 /** Enumerates possible outcomes for storing caches. */
diff --git a/src/init-action.ts b/src/init-action.ts
index 3512520c2..9f1c33e68 100644
--- a/src/init-action.ts
+++ b/src/init-action.ts
@@ -371,7 +371,7 @@ async function run() {
   }
 
   let overlayBaseDatabaseStats: OverlayBaseDatabaseDownloadStats | undefined;
-  let dependencyCachingResults: DependencyCacheRestoreStatusReport | undefined;
+  let dependencyCachingStatus: DependencyCacheRestoreStatusReport | undefined;
   try {
     if (
       config.overlayDatabaseMode === OverlayDatabaseMode.Overlay &&
@@ -579,12 +579,13 @@ async function run() {
 
     // Restore dependency cache(s), if they exist.
     if (shouldRestoreCache(config.dependencyCachingEnabled)) {
-      dependencyCachingResults = await downloadDependencyCaches(
+      const dependencyCachingResult = await downloadDependencyCaches(
         codeql,
         features,
         config.languages,
         logger,
       );
+      dependencyCachingStatus = dependencyCachingResult.statusReport;
     }
 
     // Suppress warnings about disabled Python library extraction.
@@ -732,7 +733,7 @@ async function run() {
       toolsSource,
       toolsVersion,
       overlayBaseDatabaseStats,
-      dependencyCachingResults,
+      dependencyCachingStatus,
       logger,
       error,
     );
@@ -755,7 +756,7 @@ async function run() {
     toolsSource,
     toolsVersion,
     overlayBaseDatabaseStats,
-    dependencyCachingResults,
+    dependencyCachingStatus,
     logger,
   );
 }