diff --git a/com.unity.render-pipelines.high-definition/CHANGELOG.md b/com.unity.render-pipelines.high-definition/CHANGELOG.md
index 671f61e442f..d31c65fdb69 100644
--- a/com.unity.render-pipelines.high-definition/CHANGELOG.md
+++ b/com.unity.render-pipelines.high-definition/CHANGELOG.md
@@ -732,6 +732,7 @@ and this project adheres to [Semantic Versioning](http://semver.org/spec/v2.0.0.
 - Fixed custom pass re-ordering issues.
 - Improved robustness of normal mapping when scale is 0, and mapping is extreme (normals in or below the tangent plane).
 - Fixed rendering breaking when disabling tonemapping in the frame settings.
+- Fixed issue with serialization of exposure modes in volume profiles not being consistent between HDRP versions (case 1261385).
 
 ### Changed
 - Improve MIP selection for decals on Transparents
diff --git a/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/Outdoors/Sky and Fog Settings Profile.asset b/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/Outdoors/Sky and Fog Settings Profile.asset
index 159acab728e..734282b2588 100644
--- a/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/Outdoors/Sky and Fog Settings Profile.asset	
+++ b/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/Outdoors/Sky and Fog Settings Profile.asset	
@@ -332,7 +332,7 @@ MonoBehaviour:
   m_AdvancedMode: 0
   mode:
     m_OverrideState: 1
-    m_Value: 2
+    m_Value: 4
   meteringMode:
     m_OverrideState: 0
     m_Value: 2
diff --git a/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/OutdoorsDXR/Sky and Fog Settings Profile.asset b/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/OutdoorsDXR/Sky and Fog Settings Profile.asset
index 159acab728e..734282b2588 100644
--- a/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/OutdoorsDXR/Sky and Fog Settings Profile.asset	
+++ b/com.unity.render-pipelines.high-definition/Editor/SceneTemplates/OutdoorsDXR/Sky and Fog Settings Profile.asset	
@@ -332,7 +332,7 @@ MonoBehaviour:
   m_AdvancedMode: 0
   mode:
     m_OverrideState: 1
-    m_Value: 2
+    m_Value: 4
   meteringMode:
     m_OverrideState: 0
     m_Value: 2
diff --git a/com.unity.render-pipelines.high-definition/Runtime/PostProcessing/Components/Exposure.cs b/com.unity.render-pipelines.high-definition/Runtime/PostProcessing/Components/Exposure.cs
index 1cdd5edd4f8..c45ada2957f 100644
--- a/com.unity.render-pipelines.high-definition/Runtime/PostProcessing/Components/Exposure.cs
+++ b/com.unity.render-pipelines.high-definition/Runtime/PostProcessing/Components/Exposure.cs
@@ -176,27 +176,27 @@ public enum ExposureMode
         /// <summary>
         /// Allows you to manually sets the Scene exposure.
         /// </summary>
-        Fixed,
+        Fixed = 0,
 
         /// <summary>
         /// Automatically sets the exposure depending on what is on screen.
         /// </summary>
-        Automatic,
+        Automatic = 1,
 
         /// <summary>
         /// Automatically sets the exposure depending on what is on screen and can filter out outliers based on provided settings.
         /// </summary>
-        AutomaticHistogram,
+        AutomaticHistogram = 4,
 
         /// <summary>
         /// Maps the current Scene exposure to a custom curve.
         /// </summary>
-        CurveMapping,
+        CurveMapping = 2,
 
         /// <summary>
         /// Uses the current physical Camera settings to set the Scene exposure.
         /// </summary>
-        UsePhysicalCamera
+        UsePhysicalCamera = 3
     }
 
     /// <summary>