diff --git a/mathparse/mathparse.py b/mathparse/mathparse.py
index f029dd9..8aaab68 100644
--- a/mathparse/mathparse.py
+++ b/mathparse/mathparse.py
@@ -466,17 +466,21 @@ def to_postfix(tokens: list) -> list:
     """
     precedence = {
         '.': 5,
-        '/': 4,
-        '*': 4,
-        '+': 3,
-        '-': 3,
-        '^': 2,
+        '^': 4,
+        '/': 3,
+        '*': 3,
+        '+': 2,
+        '-': 2,
         '(': 1
     }
 
     # Unary functions have a higher precedence than binary operators
     unary_precedence = max(precedence.values()) + 1
 
+    # Right-associative operators use strict inequality when popping,
+    # so that e.g. 2^3^2 evaluates as 2^(3^2) = 512, not (2^3)^2 = 64
+    right_associative = {'^'}
+
     postfix = []
     opstack = []
 
@@ -497,12 +501,18 @@ def to_postfix(tokens: list) -> list:
                 postfix.append(top_token)
                 top_token = opstack.pop()
         elif is_binary(token):
-            # For binary operators, pop operators with higher or
-            # equal precedence
+            # Pop operators with higher precedence, or equal precedence when
+            # the current token is left-associative (right-associative
+            # operators like ^ only yield to strictly higher precedence so
+            # that 2^3^2 = 2^(3^2) = 512 rather than (2^3)^2 = 64).
+            is_left_assoc = token not in right_associative
             while (opstack != []) and (
                 (
                     opstack[-1] in precedence and token in precedence and (
-                        precedence[opstack[-1]] >= precedence[token]
+                        precedence[opstack[-1]] > precedence[token] or (
+                            is_left_assoc and
+                            precedence[opstack[-1]] == precedence[token]
+                        )
                     )
                 ) or
                 (
diff --git a/tests/test_unary_operations.py b/tests/test_unary_operations.py
index 3ee3071..3da2210 100644
--- a/tests/test_unary_operations.py
+++ b/tests/test_unary_operations.py
@@ -10,6 +10,33 @@ def test_exponent(self):
 
         self.assertEqual(result, 256)
 
+    def test_exponent_precedence_over_addition_and_multiplication(self):
+        """
+        Exponentiation must bind tighter than + and *.
+        2 ^ 3 + 4 * 5 = (2^3) + (4*5) = 8 + 20 = 28
+        """
+        result = mathparse.parse('2 ^ 3 + 4 * 5')
+
+        self.assertEqual(result, 28)
+
+    def test_exponent_precedence_mixed_expression(self):
+        """
+        Exponentiation must bind tighter than * and +.
+        2 + 3 * 4 ^ 5 = 2 + 3 * (4^5) = 2 + 3*1024 = 3074
+        """
+        result = mathparse.parse('2 + 3 * 4 ^ 5')
+
+        self.assertEqual(result, 3074)
+
+    def test_exponent_right_associative(self):
+        """
+        Exponentiation is right-associative: 2^3^2 = 2^(3^2) = 512,
+        not (2^3)^2 = 64.
+        """
+        result = mathparse.parse('2 ^ 3 ^ 2')
+
+        self.assertEqual(result, 512)
+
     def test_without_unary_operator_fre(self):
         result = mathparse.parse('50 * (85 / 100)', language='FRE')
         self.assertEqual(result, 42.5)