diff --git a/linux-user/nios2/cpu_loop.c b/linux-user/nios2/cpu_loop.c
index 30a27f252b..a5e86990e2 100644
--- a/linux-user/nios2/cpu_loop.c
+++ b/linux-user/nios2/cpu_loop.c
@@ -39,6 +39,8 @@ void cpu_loop(CPUNios2State *env)
             break;
 
         case EXCP_DIV:
+            /* Match kernel's handle_diverror_c(). */
+            env->pc -= 4;
             force_sig_fault(TARGET_SIGFPE, TARGET_FPE_INTDIV, env->pc);
             break;
 
@@ -49,12 +51,6 @@ void cpu_loop(CPUNios2State *env)
             break;
 
         case EXCP_TRAP:
-            /*
-             * TODO: This advance should be done in the translator, as
-             * hardware produces an advanced pc as part of all exceptions.
-             */
-            env->pc += 4;
-
             switch (env->error_code) {
             case 0:
                 qemu_log_mask(CPU_LOG_INT, "\nSyscall\n");
diff --git a/target/nios2/cpu.h b/target/nios2/cpu.h
index 5474b1c404..f85581ee56 100644
--- a/target/nios2/cpu.h
+++ b/target/nios2/cpu.h
@@ -266,6 +266,8 @@ hwaddr nios2_cpu_get_phys_page_debug(CPUState *cpu, vaddr addr);
 G_NORETURN void nios2_cpu_do_unaligned_access(CPUState *cpu, vaddr addr,
                                               MMUAccessType access_type, int mmu_idx,
                                               uintptr_t retaddr);
+G_NORETURN void nios2_cpu_loop_exit_advance(CPUNios2State *env,
+                                            uintptr_t retaddr);
 
 void do_nios2_semihosting(CPUNios2State *env);
 
diff --git a/target/nios2/helper.c b/target/nios2/helper.c
index e256d1528e..bb3b09e5a7 100644
--- a/target/nios2/helper.c
+++ b/target/nios2/helper.c
@@ -49,7 +49,7 @@ static void do_exception(Nios2CPU *cpu, uint32_t exception_addr,
             cr_es = CR_BSTATUS;
         }
         env->ctrl[cr_es] = old_status;
-        env->regs[r_ea] = env->pc + 4;
+        env->regs[r_ea] = env->pc;
 
         if (cpu->mmu_present) {
             new_status |= CR_STATUS_EH;
@@ -113,7 +113,7 @@ static void do_eic_irq(Nios2CPU *cpu)
             }
             env->shadow_regs[new_rs][R_SSTATUS] = old_status;
         }
-        env->shadow_regs[new_rs][R_EA] = env->pc + 4;
+        env->shadow_regs[new_rs][R_EA] = env->pc;
     }
 
     env->ctrl[CR_STATUS] = new_status;
@@ -187,6 +187,8 @@ void nios2_cpu_do_interrupt(CPUState *cs)
 
     switch (cs->exception_index) {
     case EXCP_IRQ:
+        /* Note that PC is advanced for interrupts as well. */
+        env->pc += 4;
         if (cpu->eic_present) {
             do_eic_irq(cpu);
         } else {
@@ -249,7 +251,6 @@ void nios2_cpu_do_interrupt(CPUState *cs)
         break;
 
     case EXCP_SEMIHOST:
-        env->pc += 4;
         do_nios2_semihosting(env);
         break;
 
@@ -291,7 +292,7 @@ void nios2_cpu_do_unaligned_access(CPUState *cs, vaddr addr,
 
     env->ctrl[CR_BADADDR] = addr;
     cs->exception_index = EXCP_UNALIGN;
-    cpu_loop_exit_restore(cs, retaddr);
+    nios2_cpu_loop_exit_advance(env, retaddr);
 }
 
 bool nios2_cpu_tlb_fill(CPUState *cs, vaddr address, int size,
@@ -330,7 +331,7 @@ bool nios2_cpu_tlb_fill(CPUState *cs, vaddr address, int size,
             cs->exception_index = (access_type == MMU_INST_FETCH
                                    ? EXCP_SUPERA_X : EXCP_SUPERA_D);
             env->ctrl[CR_BADADDR] = address;
-            cpu_loop_exit_restore(cs, retaddr);
+            nios2_cpu_loop_exit_advance(env, retaddr);
         }
     }
 
@@ -367,5 +368,5 @@ bool nios2_cpu_tlb_fill(CPUState *cs, vaddr address, int size,
 
     cs->exception_index = excp;
     env->ctrl[CR_BADADDR] = address;
-    cpu_loop_exit_restore(cs, retaddr);
+    nios2_cpu_loop_exit_advance(env, retaddr);
 }
diff --git a/target/nios2/op_helper.c b/target/nios2/op_helper.c
index 94040102f4..2e30d0a908 100644
--- a/target/nios2/op_helper.c
+++ b/target/nios2/op_helper.c
@@ -31,6 +31,20 @@ void helper_raise_exception(CPUNios2State *env, uint32_t index)
     cpu_loop_exit(cs);
 }
 
+void nios2_cpu_loop_exit_advance(CPUNios2State *env, uintptr_t retaddr)
+{
+    CPUState *cs = env_cpu(env);
+
+    /*
+     * Note that PC is advanced for all hardware exceptions.
+     * Do this here, rather than in restore_state_to_opc(),
+     * lest we affect QEMU internal exceptions, like EXCP_DEBUG.
+     */
+    cpu_restore_state(cs, retaddr, true);
+    env->pc += 4;
+    cpu_loop_exit(cs);
+}
+
 static void maybe_raise_div(CPUNios2State *env, uintptr_t ra)
 {
     Nios2CPU *cpu = env_archcpu(env);
@@ -38,7 +52,7 @@ static void maybe_raise_div(CPUNios2State *env, uintptr_t ra)
 
     if (cpu->diverr_present) {
         cs->exception_index = EXCP_DIV;
-        cpu_loop_exit_restore(cs, ra);
+        nios2_cpu_loop_exit_advance(env, ra);
     }
 }
 
@@ -69,7 +83,7 @@ void helper_eret(CPUNios2State *env, uint32_t new_status, uint32_t new_pc)
     if (unlikely(new_pc & 3)) {
         env->ctrl[CR_BADADDR] = new_pc;
         cs->exception_index = EXCP_UNALIGND;
-        cpu_loop_exit_restore(cs, GETPC());
+        nios2_cpu_loop_exit_advance(env, GETPC());
     }
 
     /*
diff --git a/target/nios2/translate.c b/target/nios2/translate.c
index b52f98180d..3a037a68cc 100644
--- a/target/nios2/translate.c
+++ b/target/nios2/translate.c
@@ -202,10 +202,10 @@ static TCGv dest_gpr(DisasContext *dc, unsigned reg)
 #endif
 }
 
-static void t_gen_helper_raise_exception(DisasContext *dc,
-                                         uint32_t index)
+static void t_gen_helper_raise_exception(DisasContext *dc, uint32_t index)
 {
-    tcg_gen_movi_tl(cpu_pc, dc->pc);
+    /* Note that PC is advanced for all hardware exceptions. */
+    tcg_gen_movi_tl(cpu_pc, dc->base.pc_next);
     gen_helper_raise_exception(cpu_env, tcg_constant_i32(index));
     dc->base.is_jmp = DISAS_NORETURN;
 }