diff --git a/hgext/lfs/__init__.py b/hgext/lfs/__init__.py
--- a/hgext/lfs/__init__.py
+++ b/hgext/lfs/__init__.py
@@ -340,9 +340,7 @@
     # Make bundle choose changegroup3 instead of changegroup2. This affects
     # "hg bundle" command. Note: it does not cover all bundle formats like
     # "packed1". Using "packed1" with lfs will likely cause trouble.
-    names = [k for k, v in exchange._bundlespeccgversions.items() if v == '02']
-    for k in names:
-        exchange._bundlespeccgversions[k] = '03'
+    exchange._bundlespeccontentopts["v2"]["cg.version"] = "03"
 
     # bundlerepo uses "vfsmod.readonlyvfs(othervfs)", we need to make sure lfs
     # options and blob stores are passed from othervfs to the new readonlyvfs.
diff --git a/mercurial/bundle2.py b/mercurial/bundle2.py
--- a/mercurial/bundle2.py
+++ b/mercurial/bundle2.py
@@ -1596,8 +1596,11 @@
                                             outgoing.missingheads):
             part.addparam('targetphase', '%d' % phases.secret, mandatory=False)
 
-    addparttagsfnodescache(repo, bundler, outgoing)
-    addpartrevbranchcache(repo, bundler, outgoing)
+    if opts.get('tagsfnodescache', True):
+        addparttagsfnodescache(repo, bundler, outgoing)
+
+    if opts.get('revbranchcache', True):
+        addpartrevbranchcache(repo, bundler, outgoing)
 
     if opts.get('obsolescence', False):
         obsmarkers = repo.obsstore.relevantmarkers(outgoing.missing)
diff --git a/mercurial/commands.py b/mercurial/commands.py
--- a/mercurial/commands.py
+++ b/mercurial/commands.py
@@ -1204,7 +1204,7 @@
         raise error.Abort(pycompat.bytestr(e),
                           hint=_("see 'hg help bundlespec' for supported "
                                  "values for --type"))
-    cgversion = bundlespec.version
+    cgversion = bundlespec.contentopts["cg.version"]
 
     # Packed bundles are a pseudo bundle format for now.
     if cgversion == 's1':
@@ -1267,14 +1267,15 @@
     if complevel is not None:
         compopts['level'] = complevel
 
-
-    contentopts = {'cg.version': cgversion, 'changegroup': True}
+    # Allow overriding the bundling of obsmarker in phases through
+    # configuration while we don't have a bundle version that include them
     if repo.ui.configbool('experimental', 'evolution.bundle-obsmarker'):
-        contentopts['obsolescence'] = True
+        bundlespec.contentopts['obsolescence'] = True
     if repo.ui.configbool('experimental', 'bundle-phases'):
-        contentopts['phases'] = True
+        bundlespec.contentopts['phases'] = True
+
     bundle2.writenewbundle(ui, repo, 'bundle', fname, bversion, outgoing,
-                           contentopts, compression=bcompression,
+                           bundlespec.contentopts, compression=bcompression,
                            compopts=compopts)
 
 @command('cat',
diff --git a/mercurial/exchange.py b/mercurial/exchange.py
--- a/mercurial/exchange.py
+++ b/mercurial/exchange.py
@@ -52,6 +52,30 @@
                          'bundle2': '02', #legacy
                         }
 
+# Maps bundle version with content opts to choose which part to bundle
+_bundlespeccontentopts = {
+    'v1': {
+        'changegroup': True,
+        'cg.version': '01',
+        'obsolescence': False,
+        'phases': False,
+        'tagsfnodescache': False,
+        'revbranchcache': False
+    },
+    'v2': {
+        'changegroup': True,
+        'cg.version': '02',
+        'obsolescence': False,
+        'phases': False,
+        'tagsfnodescache': True,
+        'revbranchcache': True
+    },
+    'packed1' : {
+        'cg.version': 's1'
+    }
+}
+_bundlespeccontentopts['bundle2'] = _bundlespeccontentopts['v2']
+
 # Compression engines allowed in version 1. THIS SHOULD NEVER CHANGE.
 _bundlespecv1compengines = {'gzip', 'bzip2', 'none'}
 
@@ -60,6 +84,7 @@
     compression = attr.ib()
     version = attr.ib()
     params = attr.ib()
+    contentopts = attr.ib()
 
 def parsebundlespec(repo, spec, strict=True, externalnames=False):
     """Parse a bundle string specification into parts.
@@ -178,12 +203,15 @@
                     _('missing support for repository features: %s') %
                       ', '.join(sorted(missingreqs)))
 
+    # Compute contentopts based on the version
+    contentopts = _bundlespeccontentopts.get(version, {}).copy()
+
     if not externalnames:
         engine = util.compengines.forbundlename(compression)
         compression = engine.bundletype()[1]
         version = _bundlespeccgversions[version]
 
-    return bundlespec(compression, version, params)
+    return bundlespec(compression, version, params, contentopts)
 
 def readbundle(ui, fh, fname, vfs=None):
     header = changegroup.readexactly(fh, 4)
diff --git a/tests/flagprocessorext.py b/tests/flagprocessorext.py
--- a/tests/flagprocessorext.py
+++ b/tests/flagprocessorext.py
@@ -105,8 +105,8 @@
     revlog.REVIDX_FLAGS_ORDER.extend(flags)
 
     # Teach exchange to use changegroup 3
-    for k in exchange._bundlespeccgversions.keys():
-        exchange._bundlespeccgversions[k] = b'03'
+    for k in exchange._bundlespeccontentopts.keys():
+        exchange._bundlespeccontentopts[k]["cg.version"] = "03"
 
     # Add wrappers for addrevision, responsible to set flags depending on the
     # revision data contents.