diff --git a/linux-user/elfload.c b/linux-user/elfload.c
index 4cd6891d7b..cf9e74468b 100644
--- a/linux-user/elfload.c
+++ b/linux-user/elfload.c
@@ -3308,7 +3308,7 @@ static void load_elf_image(const char *image_name, const ImageSource *src,
     for (i = 0; i < ehdr->e_phnum; ++i) {
         struct elf_phdr *eppnt = phdr + i;
         if (eppnt->p_type == PT_LOAD) {
-            abi_ulong a = eppnt->p_vaddr - eppnt->p_offset;
+            abi_ulong a = eppnt->p_vaddr & TARGET_PAGE_MASK;
             if (a < loaddr) {
                 loaddr = a;
             }