diff --git a/libyul/optimiser/DataFlowAnalyzer.cpp b/libyul/optimiser/DataFlowAnalyzer.cpp
index 3f3b31f2a..c2042a19c 100644
--- a/libyul/optimiser/DataFlowAnalyzer.cpp
+++ b/libyul/optimiser/DataFlowAnalyzer.cpp
@@ -297,7 +297,7 @@ void DataFlowAnalyzer::clearValues(set<YulString> _variables)
 
 void DataFlowAnalyzer::clearKnowledgeIfInvalidated(Block const& _block)
 {
-	SideEffectsCollector sideEffects(m_dialect, _block);
+	SideEffectsCollector sideEffects(m_dialect, _block, &m_functionSideEffects);
 	if (sideEffects.invalidatesStorage())
 		m_storage.clear();
 	if (sideEffects.invalidatesMemory())
@@ -306,7 +306,7 @@ void DataFlowAnalyzer::clearKnowledgeIfInvalidated(Block const& _block)
 
 void DataFlowAnalyzer::clearKnowledgeIfInvalidated(Expression const& _expr)
 {
-	SideEffectsCollector sideEffects(m_dialect, _expr);
+	SideEffectsCollector sideEffects(m_dialect, _expr, &m_functionSideEffects);
 	if (sideEffects.invalidatesStorage())
 		m_storage.clear();
 	if (sideEffects.invalidatesMemory())
diff --git a/libyul/optimiser/LoadResolver.cpp b/libyul/optimiser/LoadResolver.cpp
index 2a68149fe..3ff064fd7 100644
--- a/libyul/optimiser/LoadResolver.cpp
+++ b/libyul/optimiser/LoadResolver.cpp
@@ -23,6 +23,8 @@
 
 #include <libyul/backends/evm/EVMDialect.h>
 #include <libyul/optimiser/Semantics.h>
+#include <libyul/optimiser/CallGraphGenerator.h>
+#include <libyul/SideEffects.h>
 #include <libyul/AsmData.h>
 
 using namespace std;
@@ -32,35 +34,53 @@ using namespace yul;
 void LoadResolver::run(Dialect const& _dialect, Block& _ast)
 {
 	bool containsMSize = MSizeFinder::containsMSize(_dialect, _ast);
-	LoadResolver{_dialect, !containsMSize}(_ast);
+	LoadResolver{
+		_dialect,
+		SideEffectsPropagator::sideEffects(_dialect, CallGraphGenerator::callGraph(_ast)),
+		!containsMSize
+	}(_ast);
 }
 
 void LoadResolver::visit(Expression& _e)
 {
+	DataFlowAnalyzer::visit(_e);
+
+	if (!dynamic_cast<EVMDialect const*>(&m_dialect))
+		return;
+
 	if (_e.type() == typeid(FunctionCall))
 	{
 		FunctionCall const& funCall = boost::get<FunctionCall>(_e);
 		if (auto const* builtin = dynamic_cast<EVMDialect const&>(m_dialect).builtin(funCall.functionName.name))
-			if (!builtin->parameters.empty() && funCall.arguments.at(0).type() == typeid(Identifier))
-			{
-				YulString key = boost::get<Identifier>(funCall.arguments.at(0)).name;
-				if (
-					builtin->instruction == dev::eth::Instruction::SLOAD &&
-					m_storage.values.count(key)
-				)
-				{
-					_e = Identifier{locationOf(_e), m_storage.values[key]};
-					return;
-				}
-				else if (
-					m_optimizeMLoad &&
-					builtin->instruction == dev::eth::Instruction::MLOAD &&
-					m_memory.values.count(key)
-				)
-				{
-					_e = Identifier{locationOf(_e), m_memory.values[key]};
-					return;
-				}
-			}
+			if (builtin->instruction)
+				tryResolve(_e, *builtin->instruction, funCall.arguments);
+	}
+	else if (_e.type() == typeid(FunctionalInstruction))
+	{
+		FunctionalInstruction const& instruction = boost::get<FunctionalInstruction>(_e);
+		tryResolve(_e, instruction.instruction, instruction.arguments);
 	}
 }
+
+void LoadResolver::tryResolve(
+	Expression& _e,
+	dev::eth::Instruction _instruction,
+	vector<Expression> const& _arguments
+)
+{
+	if (_arguments.empty() || _arguments.at(0).type() != typeid(Identifier))
+		return;
+
+	YulString key = boost::get<Identifier>(_arguments.at(0)).name;
+	if (
+		_instruction == dev::eth::Instruction::SLOAD &&
+		m_storage.values.count(key)
+	)
+		_e = Identifier{locationOf(_e), m_storage.values[key]};
+	else if (
+		m_optimizeMLoad &&
+		_instruction == dev::eth::Instruction::MLOAD &&
+		m_memory.values.count(key)
+	)
+		_e = Identifier{locationOf(_e), m_memory.values[key]};
+}
diff --git a/libyul/optimiser/LoadResolver.h b/libyul/optimiser/LoadResolver.h
index 3db124594..37afc6b6e 100644
--- a/libyul/optimiser/LoadResolver.h
+++ b/libyul/optimiser/LoadResolver.h
@@ -22,11 +22,13 @@
 #pragma once
 
 #include <libyul/optimiser/DataFlowAnalyzer.h>
+#include <libevmasm/Instruction.h>
 
 namespace yul
 {
 
 struct EVMDialect;
+struct BuiltinFunctionForEVM;
 
 /**
  * Optimisation stage that replaces expressions of type ``sload(x)`` and ``mload(x)`` by the value
@@ -39,11 +41,16 @@ struct EVMDialect;
 class LoadResolver: public DataFlowAnalyzer
 {
 public:
+	/// Run the load resolver on the given complete AST.
 	static void run(Dialect const& _dialect, Block& _ast);
 
 private:
-	LoadResolver(Dialect const& _dialect, bool _optimizeMLoad):
-		DataFlowAnalyzer(_dialect),
+	LoadResolver(
+		Dialect const& _dialect,
+		std::map<YulString, SideEffects> _functionSideEffects,
+		bool _optimizeMLoad
+	):
+		DataFlowAnalyzer(_dialect, std::move(_functionSideEffects)),
 		m_optimizeMLoad(_optimizeMLoad)
 	{}
 
@@ -51,6 +58,12 @@ protected:
 	using ASTModifier::visit;
 	void visit(Expression& _e) override;
 
+	void tryResolve(
+		Expression& _e,
+		dev::eth::Instruction _instruction,
+		std::vector<Expression> const& _arguments
+	);
+
 	bool m_optimizeMLoad = false;
 };
 
diff --git a/libyul/optimiser/Semantics.cpp b/libyul/optimiser/Semantics.cpp
index a4784af66..001193533 100644
--- a/libyul/optimiser/Semantics.cpp
+++ b/libyul/optimiser/Semantics.cpp
@@ -51,8 +51,12 @@ SideEffectsCollector::SideEffectsCollector(Dialect const& _dialect, Statement co
 	visit(_statement);
 }
 
-SideEffectsCollector::SideEffectsCollector(Dialect const& _dialect, Block const& _ast):
-	SideEffectsCollector(_dialect)
+SideEffectsCollector::SideEffectsCollector(
+	Dialect const& _dialect,
+	Block const& _ast,
+	map<YulString, SideEffects> const* _functionSideEffects
+):
+	SideEffectsCollector(_dialect, _functionSideEffects)
 {
 	operator()(_ast);
 }
diff --git a/libyul/optimiser/Semantics.h b/libyul/optimiser/Semantics.h
index 1135b7070..8953ab321 100644
--- a/libyul/optimiser/Semantics.h
+++ b/libyul/optimiser/Semantics.h
@@ -47,7 +47,11 @@ public:
 		std::map<YulString, SideEffects> const* _functionSideEffects = nullptr
 	);
 	SideEffectsCollector(Dialect const& _dialect, Statement const& _statement);
-	SideEffectsCollector(Dialect const& _dialect, Block const& _ast);
+	SideEffectsCollector(
+		Dialect const& _dialect,
+		Block const& _ast,
+		std::map<YulString, SideEffects> const* _functionSideEffects = nullptr
+	);
 
 	using ASTWalker::operator();
 	void operator()(FunctionalInstruction const& _functionalInstruction) override;