diff --git a/qemu/target/arm/translate-a64.c b/qemu/target/arm/translate-a64.c
index 06990c26..cc083ea7 100644
--- a/qemu/target/arm/translate-a64.c
+++ b/qemu/target/arm/translate-a64.c
@@ -1425,7 +1425,7 @@ static inline AArch64DecodeFn *lookup_disas_fn(const AArch64DecodeTable *table,
 static void disas_uncond_b_imm(DisasContext *s, uint32_t insn)
 {
     TCGContext *tcg_ctx = s->uc->tcg_ctx;
-    uint64_t addr = s->pc + sextract32(insn, 0, 26) * 4 - 4;
+    uint64_t addr = s->pc_curr + sextract32(insn, 0, 26) * 4;
 
     if (insn & (1U << 31)) {
         /* BL Branch with link */
@@ -1454,7 +1454,7 @@ static void disas_comp_b_imm(DisasContext *s, uint32_t insn)
     sf = extract32(insn, 31, 1);
     op = extract32(insn, 24, 1); /* 0: CBZ; 1: CBNZ */
     rt = extract32(insn, 0, 5);
-    addr = s->pc + sextract32(insn, 5, 19) * 4 - 4;
+    addr = s->pc_curr + sextract32(insn, 5, 19) * 4;
 
     tcg_cmp = read_cpu_reg(s, rt, sf);
     label_match = gen_new_label(tcg_ctx);
@@ -1484,7 +1484,7 @@ static void disas_test_b_imm(DisasContext *s, uint32_t insn)
 
     bit_pos = (extract32(insn, 31, 1) << 5) | extract32(insn, 19, 5);
     op = extract32(insn, 24, 1); /* 0: TBZ; 1: TBNZ */
-    addr = s->pc + sextract32(insn, 5, 14) * 4 - 4;
+    addr = s->pc_curr + sextract32(insn, 5, 14) * 4;
     rt = extract32(insn, 0, 5);
 
     tcg_cmp = tcg_temp_new_i64(tcg_ctx);
@@ -1516,7 +1516,7 @@ static void disas_cond_b_imm(DisasContext *s, uint32_t insn)
         unallocated_encoding(s);
         return;
     }
-    addr = s->pc + sextract32(insn, 5, 19) * 4 - 4;
+    addr = s->pc_curr + sextract32(insn, 5, 19) * 4;
     cond = extract32(insn, 0, 4);
 
     reset_btype(s);
@@ -1903,7 +1903,7 @@ static void handle_sys(DisasContext *s, uint32_t insn, bool isread,
         TCGv_i32 tcg_syn, tcg_isread;
         uint32_t syndrome;
 
-        gen_a64_set_pc_im(s, s->pc - 4);
+        gen_a64_set_pc_im(s, s->pc_curr);
         tmpptr = tcg_const_ptr(tcg_ctx, ri);
         syndrome = syn_aa64_sysregtrap(op0, op1, op2, crn, crm, rt, isread);
         tcg_syn = tcg_const_i32(tcg_ctx, syndrome);
@@ -2072,7 +2072,7 @@ static void disas_exc(DisasContext *s, uint32_t insn)
             /* The pre HVC helper handles cases when HVC gets trapped
              * as an undefined insn by runtime configuration.
              */
-            gen_a64_set_pc_im(s, s->pc - 4);
+            gen_a64_set_pc_im(s, s->pc_curr);
             gen_helper_pre_hvc(tcg_ctx, tcg_ctx->cpu_env);
             gen_ss_advance(s);
             gen_exception_insn(s, 0, EXCP_HVC, syn_aa64_hvc(imm16), 2);
@@ -2082,7 +2082,7 @@ static void disas_exc(DisasContext *s, uint32_t insn)
                 unallocated_encoding(s);
                 break;
             }
-            gen_a64_set_pc_im(s, s->pc - 4);
+            gen_a64_set_pc_im(s, s->pc_curr);
             tmp = tcg_const_i32(tcg_ctx, syn_aa64_smc(imm16));
             gen_helper_pre_smc(tcg_ctx, tcg_ctx->cpu_env, tmp);
             tcg_temp_free_i32(tcg_ctx, tmp);
@@ -2801,7 +2801,7 @@ static void disas_ld_lit(DisasContext *s, uint32_t insn)
 
     tcg_rt = cpu_reg(s, rt);
 
-    clean_addr = tcg_const_i64(tcg_ctx, (s->pc - 4) + imm);
+    clean_addr = tcg_const_i64(tcg_ctx, s->pc_curr + imm);
     if (is_vector) {
         do_fp_ld(s, rt, clean_addr, size);
     } else {
@@ -3788,7 +3788,7 @@ static void disas_pc_rel_adr(DisasContext *s, uint32_t insn)
     offset = sextract64(insn, 5, 19);
     offset = offset << 2 | extract32(insn, 29, 2);
     rd = extract32(insn, 0, 5);
-    base = s->pc - 4;
+    base = s->pc_curr;
 
     if (page) {
         /* ADRP (page based) */
@@ -11828,7 +11828,7 @@ static void disas_simd_three_reg_same_fp16(DisasContext *s, uint32_t insn)
                 break;
             default:
                 fprintf(stderr, "%s: insn %#04x, fpop %#2x @ %#" PRIx64 "\n",
-                        __func__, insn, fpopcode, s->pc);
+                        __func__, insn, fpopcode, s->pc_curr);
                 g_assert_not_reached();
             }
 
@@ -14363,6 +14363,7 @@ static void disas_a64_insn(CPUARMState *env, DisasContext *s)
         return;
     }
 
+    s->pc_curr = s->pc;
     insn = arm_ldl_code(env, s->pc, s->sctlr_b);
     s->insn = insn;
     s->pc += 4;
diff --git a/qemu/target/arm/translate-a64.h b/qemu/target/arm/translate-a64.h
index 29dc2f01..fe96d76e 100644
--- a/qemu/target/arm/translate-a64.h
+++ b/qemu/target/arm/translate-a64.h
@@ -25,7 +25,7 @@ void unallocated_encoding(DisasContext *s);
         qemu_log_mask(LOG_UNIMP,                                         \
                       "%s:%d: unsupported instruction encoding 0x%08x "  \
                       "at pc=%016" PRIx64 "\n",                          \
-                      __FILE__, __LINE__, insn, s->pc - 4);              \
+                      __FILE__, __LINE__, insn, s->pc_curr);             \
         unallocated_encoding(s);                                         \
     } while (0)
 
diff --git a/qemu/target/arm/translate.c b/qemu/target/arm/translate.c
index 59de07e0..495cc4c3 100644
--- a/qemu/target/arm/translate.c
+++ b/qemu/target/arm/translate.c
@@ -1269,7 +1269,7 @@ static inline void gen_hvc(DisasContext *s, int imm16)
      * as an undefined insn by runtime configuration (ie before
      * the insn really executes).
      */
-    gen_set_pc_im(s, s->pc - 4);
+    gen_set_pc_im(s, s->pc_curr);
     gen_helper_pre_hvc(tcg_ctx, tcg_ctx->cpu_env);
     /* Otherwise we will treat this as a real exception which
      * happens after execution of the insn. (The distinction matters
@@ -1289,7 +1289,7 @@ static inline void gen_smc(DisasContext *s)
     TCGv_i32 tmp;
     TCGContext *tcg_ctx = s->uc->tcg_ctx;
 
-    gen_set_pc_im(s, s->pc - 4);
+    gen_set_pc_im(s, s->pc_curr);
     tmp = tcg_const_i32(tcg_ctx, syn_aa32_smc());
     gen_helper_pre_smc(tcg_ctx, tcg_ctx->cpu_env, tmp);
     tcg_temp_free_i32(tcg_ctx, tmp);
@@ -3310,7 +3310,7 @@ static void gen_msr_banked(DisasContext *s, int r, int sysm, int rn)
 
     /* Sync state because msr_banked() can raise exceptions */
     gen_set_condexec(s);
-    gen_set_pc_im(s, s->pc - 4);
+    gen_set_pc_im(s, s->pc_curr);
     tcg_reg = load_reg(s, rn);
     tcg_tgtmode = tcg_const_i32(tcg_ctx, tgtmode);
     tcg_regno = tcg_const_i32(tcg_ctx, regno);
@@ -3333,7 +3333,7 @@ static void gen_mrs_banked(DisasContext *s, int r, int sysm, int rn)
 
     /* Sync state because mrs_banked() can raise exceptions */
     gen_set_condexec(s);
-    gen_set_pc_im(s, s->pc - 4);
+    gen_set_pc_im(s, s->pc_curr);
     tcg_reg = tcg_temp_new_i32(tcg_ctx);
     tcg_tgtmode = tcg_const_i32(tcg_ctx, tgtmode);
     tcg_regno = tcg_const_i32(tcg_ctx, regno);
@@ -7364,7 +7364,7 @@ static int disas_coproc_insn(DisasContext *s, uint32_t insn)
             }
 
             gen_set_condexec(s);
-            gen_set_pc_im(s, s->pc - 4);
+            gen_set_pc_im(s, s->pc_curr);
             tmpptr = tcg_const_ptr(tcg_ctx, ri);
             tcg_syn = tcg_const_i32(tcg_ctx, syndrome);
             tcg_isread = tcg_const_i32(tcg_ctx, isread);
@@ -7786,7 +7786,7 @@ static void gen_srs(DisasContext *s,
     tmp = tcg_const_i32(tcg_ctx, mode);
     /* get_r13_banked() will raise an exception if called from System mode */
     gen_set_condexec(s);
-    gen_set_pc_im(s, s->pc - 4);
+    gen_set_pc_im(s, s->pc_curr);
     gen_helper_get_r13_banked(tcg_ctx, addr, tcg_ctx->cpu_env, tmp);
     tcg_temp_free_i32(tcg_ctx, tmp);
     switch (amode) {
@@ -12232,6 +12232,7 @@ static void arm_tr_translate_insn(DisasContextBase *dcbase, CPUState *cpu)
         return;
     }
 
+    dc->pc_curr = dc->pc;
     insn = arm_ldl_code(env, dc->pc, dc->sctlr_b);
     dc->insn = insn;
     dc->pc += 4;
@@ -12301,6 +12302,7 @@ static void thumb_tr_translate_insn(DisasContextBase *dcbase, CPUState *cpu)
         return;
     }
 
+    dc->pc_curr = dc->pc;
     insn = arm_lduw_code(env, dc->pc, dc->sctlr_b);
     is_16bit = thumb_insn_is_16bit(dc, dc->pc, insn);
     dc->pc += 2;
diff --git a/qemu/target/arm/translate.h b/qemu/target/arm/translate.h
index deaa95a8..f513b89e 100644
--- a/qemu/target/arm/translate.h
+++ b/qemu/target/arm/translate.h
@@ -10,6 +10,8 @@ typedef struct DisasContext {
     const ARMISARegisters *isar;
 
     target_ulong pc;
+    /* The address of the current instruction being translated. */
+    target_ulong pc_curr;
     target_ulong page_start;
     uint32_t insn;
     /* Nonzero if this instruction has been conditionally skipped.  */