diff --git a/scylla/src/client/caching_session.rs b/scylla/src/client/caching_session.rs
index 9283638960..fb2348fa9f 100644
--- a/scylla/src/client/caching_session.rs
+++ b/scylla/src/client/caching_session.rs
@@ -1,7 +1,7 @@
 use crate::batch::{Batch, BatchStatement};
 #[allow(deprecated)]
 use crate::client::pager::LegacyRowIterator;
-use crate::errors::ExecutionError;
+use crate::errors::{ExecutionError, PrepareError};
 use crate::prepared_statement::PreparedStatement;
 use crate::query::Query;
 #[allow(deprecated)]
@@ -276,7 +276,7 @@ where
     pub async fn add_prepared_statement(
         &self,
         query: impl Into<&Query>,
-    ) -> Result<PreparedStatement, ExecutionError> {
+    ) -> Result<PreparedStatement, PrepareError> {
         self.add_prepared_statement_owned(query.into().clone())
             .await
     }
@@ -284,7 +284,7 @@ where
     async fn add_prepared_statement_owned(
         &self,
         query: impl Into<Query>,
-    ) -> Result<PreparedStatement, ExecutionError> {
+    ) -> Result<PreparedStatement, PrepareError> {
         let query = query.into();
 
         if let Some(raw) = self.cache.get(&query.contents) {
diff --git a/scylla/src/client/session.rs b/scylla/src/client/session.rs
index dd2efbcaf1..3fc1f66c71 100644
--- a/scylla/src/client/session.rs
+++ b/scylla/src/client/session.rs
@@ -15,8 +15,8 @@ use crate::cluster::node::CloudEndpoint;
 use crate::cluster::node::{InternalKnownNode, KnownNode, NodeRef};
 use crate::cluster::{Cluster, ClusterNeatDebug, ClusterState};
 use crate::errors::{
-    BadQuery, ExecutionError, MetadataError, NewSessionError, ProtocolError, RequestAttemptError,
-    RequestError, TracingProtocolError, UseKeyspaceError,
+    BadQuery, ExecutionError, MetadataError, NewSessionError, PrepareError, ProtocolError,
+    RequestAttemptError, RequestError, TracingProtocolError, UseKeyspaceError,
 };
 use crate::frame::response::result;
 #[cfg(feature = "ssl")]
@@ -1300,7 +1300,7 @@ where
     pub async fn prepare(
         &self,
         query: impl Into<Query>,
-    ) -> Result<PreparedStatement, ExecutionError> {
+    ) -> Result<PreparedStatement, PrepareError> {
         let query = query.into();
         let query_ref = &query;
 
@@ -1319,12 +1319,12 @@ where
         let first_ok: Result<PreparedStatement, RequestAttemptError> =
             results.by_ref().find_or_first(Result::is_ok).unwrap();
         let mut prepared: PreparedStatement =
-            first_ok.map_err(RequestAttemptError::into_execution_error)?;
+            first_ok.map_err(|first_attempt| PrepareError::AllAttemptsFailed { first_attempt })?;
 
         // Validate prepared ids equality
         for statement in results.flatten() {
             if prepared.get_id() != statement.get_id() {
-                return Err(ProtocolError::PreparedStatementIdsMismatch.into());
+                return Err(PrepareError::PreparedStatementIdsMismatch);
             }
 
             // Collect all tracing ids from prepare() queries in the final result
diff --git a/scylla/src/cluster/state.rs b/scylla/src/cluster/state.rs
index e205332236..494ee0afb2 100644
--- a/scylla/src/cluster/state.rs
+++ b/scylla/src/cluster/state.rs
@@ -1,4 +1,4 @@
-use crate::errors::{BadQuery, ExecutionError};
+use crate::errors::{BadQuery, ConnectionPoolError};
 use crate::network::{Connection, PoolConfig, VerifiedKeyspaceName};
 use crate::policies::host_filter::HostFilter;
 use crate::prepared_statement::TokenCalculationError;
@@ -268,7 +268,7 @@ impl ClusterState {
     /// Returns nonempty iterator of working connections to all shards.
     pub(crate) fn iter_working_connections(
         &self,
-    ) -> Result<impl Iterator<Item = Arc<Connection>> + '_, ExecutionError> {
+    ) -> Result<impl Iterator<Item = Arc<Connection>> + '_, ConnectionPoolError> {
         // The returned iterator is nonempty by nonemptiness invariant of `self.known_peers`.
         assert!(!self.known_peers.is_empty());
         let mut peers_iter = self.known_peers.values();
diff --git a/scylla/src/errors.rs b/scylla/src/errors.rs
index 8488c6d774..8dfd3333c2 100644
--- a/scylla/src/errors.rs
+++ b/scylla/src/errors.rs
@@ -44,6 +44,11 @@ use crate::response::query_result::{IntoRowsResultError, SingleRowError};
 #[non_exhaustive]
 #[allow(deprecated)]
 pub enum ExecutionError {
+    /// Failed to prepare the statement.
+    /// Applies to unprepared statements with non-empty value parameters.
+    #[error("Failed to prepare the statement: {0}")]
+    PrepareError(#[from] PrepareError),
+
     /// Database sent a response containing some error with a message
     #[error("Database returned an error: {0}, Error message: {1}")]
     DbError(DbError, String),
@@ -150,6 +155,25 @@ impl From<response::Error> for ExecutionError {
     }
 }
 
+/// An error returned by [`Session::prepare()`][crate::client::session::Session::prepare].
+#[derive(Error, Debug, Clone)]
+#[non_exhaustive]
+pub enum PrepareError {
+    /// Failed to find a node with working connection pool.
+    #[error("Failed to find a node with working connection pool: {0}")]
+    ConnectionPoolError(#[from] ConnectionPoolError),
+
+    /// Failed to prepare statement on every connection from the pool.
+    #[error("Preparation failed on every connection from the selected pool. First attempt error: {first_attempt}")]
+    AllAttemptsFailed { first_attempt: RequestAttemptError },
+
+    /// Prepared statement id mismatch.
+    #[error(
+        "Prepared statement id mismatch between multiple connections - all result ids should be equal."
+    )]
+    PreparedStatementIdsMismatch,
+}
+
 /// Error that occurred during session creation
 #[derive(Error, Debug, Clone)]
 #[non_exhaustive]
@@ -188,12 +212,6 @@ pub enum ProtocolError {
     )]
     UnexpectedResponse(CqlResponseKind),
 
-    /// Prepared statement id mismatch.
-    #[error(
-        "Prepared statement id mismatch between multiple connections - all result ids should be equal."
-    )]
-    PreparedStatementIdsMismatch,
-
     /// Prepared statement id changed after repreparation.
     #[error(
         "Prepared statement id changed after repreparation; md5 sum (computed from the query string) should stay the same;\