diff --git a/target/arm/tcg/hflags.c b/target/arm/tcg/hflags.c
index f33c0a1274..8f254bf9cc 100644
--- a/target/arm/tcg/hflags.c
+++ b/target/arm/tcg/hflags.c
@@ -261,8 +261,10 @@ static CPUARMTBFlags rebuild_hflags_a64(CPUARMState *env, int el, int fp_el,
         switch (mmu_idx) {
         case ARMMMUIdx_E10_1:
         case ARMMMUIdx_E10_1_PAN:
-            /* TODO: ARMv8.3-NV */
-            DP_TBFLAG_A64(flags, UNPRIV, 1);
+            /* FEAT_NV: NV,NV1 == 1,1 means we don't do UNPRIV accesses */
+            if ((hcr & (HCR_NV | HCR_NV1)) != (HCR_NV | HCR_NV1)) {
+                DP_TBFLAG_A64(flags, UNPRIV, 1);
+            }
             break;
         case ARMMMUIdx_E20_2:
         case ARMMMUIdx_E20_2_PAN: