diff --git a/target/s390x/tcg/translate.c b/target/s390x/tcg/translate.c
index 9df7f9e6935b..f4122db4341e 100644
--- a/target/s390x/tcg/translate.c
+++ b/target/s390x/tcg/translate.c
@@ -6624,9 +6624,9 @@ static void s390x_tr_translate_insn(DisasContextBase *dcbase, CPUState *cs)
 
     dc->base.is_jmp = translate_one(env, dc);
     if (dc->base.is_jmp == DISAS_NEXT) {
-        if (!is_same_page(dcbase, dc->base.pc_next) ||
-            !is_same_page(dcbase, get_next_pc(env, dc, dc->base.pc_next)) ||
-            dc->ex_value) {
+        if (dc->ex_value ||
+            !is_same_page(dcbase, dc->base.pc_next) ||
+            !is_same_page(dcbase, get_next_pc(env, dc, dc->base.pc_next))) {
             dc->base.is_jmp = DISAS_TOO_MANY;
         }
     }