diff --git a/target/s390x/tcg/translate.c b/target/s390x/tcg/translate.c
index eac59c3dd1..e2ee005671 100644
--- a/target/s390x/tcg/translate.c
+++ b/target/s390x/tcg/translate.c
@@ -6593,7 +6593,7 @@ static void s390x_tr_init_disas_context(DisasContextBase *dcbase, CPUState *cs)
 
     dc->cc_op = CC_OP_DYNAMIC;
     dc->ex_value = dc->base.tb->cs_base;
-    dc->exit_to_mainloop = (dc->base.tb->flags & FLAG_MASK_PER);
+    dc->exit_to_mainloop = (dc->base.tb->flags & FLAG_MASK_PER) || dc->ex_value;
 }
 
 static void s390x_tr_tb_start(DisasContextBase *db, CPUState *cs)