Let
A
A
be a modular elliptic curve over a totally real field
F
F
, and let
K
/
F
K/F
be a totally imaginary quadratic extension. In the event of exceptional zero phenomenon, we prove a formula for the derivative of the multivariable anticyclotomic
p
p
-adic
L
L
-function attached to
(
A
,
K
)
(A,K)
, in terms of the Hasse-Weil
L
L
-function and certain
p
p
-adic periods attached to the respective automorphic forms. Our methods are based on a new construction of the anticyclotomic
p
p
-adic
L
L
-function by means of the corresponding automorphic representation.