diff --git a/ArmPkg/Library/PlatformBootManagerLib/PlatformBm.c b/ArmPkg/Library/PlatformBootManagerLib/PlatformBm.c
index 9905cad229..5ceb23d822 100644
--- a/ArmPkg/Library/PlatformBootManagerLib/PlatformBm.c
+++ b/ArmPkg/Library/PlatformBootManagerLib/PlatformBm.c
@@ -848,11 +848,15 @@ PlatformBootManagerUnableToBoot (
   // If the number of configured boot options has changed, reboot
   // the system so the new boot options will be taken into account
   // while executing the ordinary BDS bootflow sequence.
+  // *Unless* persistent varstore is being emulated, since we would
+  // then end up in an endless reboot loop.
   //
-  if (NewBootOptionCount != OldBootOptionCount) {
-    DEBUG ((DEBUG_WARN, "%a: rebooting after refreshing all boot options\n",
-      __FUNCTION__));
-    gRT->ResetSystem (EfiResetCold, EFI_SUCCESS, 0, NULL);
+  if (!PcdGetBool (PcdEmuVariableNvModeEnable)) {
+    if (NewBootOptionCount != OldBootOptionCount) {
+      DEBUG ((DEBUG_WARN, "%a: rebooting after refreshing all boot options\n",
+        __FUNCTION__));
+      gRT->ResetSystem (EfiResetCold, EFI_SUCCESS, 0, NULL);
+    }
   }
 
   Status = EfiBootManagerGetBootManagerMenu (&BootManagerMenu);
diff --git a/ArmPkg/Library/PlatformBootManagerLib/PlatformBootManagerLib.inf b/ArmPkg/Library/PlatformBootManagerLib/PlatformBootManagerLib.inf
index 2f726d117d..353d7a967b 100644
--- a/ArmPkg/Library/PlatformBootManagerLib/PlatformBootManagerLib.inf
+++ b/ArmPkg/Library/PlatformBootManagerLib/PlatformBootManagerLib.inf
@@ -55,6 +55,7 @@
   gEfiMdePkgTokenSpaceGuid.PcdUgaConsumeSupport
 
 [FixedPcd]
+  gEfiMdeModulePkgTokenSpaceGuid.PcdEmuVariableNvModeEnable
   gEfiMdeModulePkgTokenSpaceGuid.PcdFirmwareVersionString
   gEfiMdePkgTokenSpaceGuid.PcdUartDefaultBaudRate
   gEfiMdePkgTokenSpaceGuid.PcdUartDefaultDataBits