diff --git a/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp b/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp
--- a/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp
+++ b/llvm/lib/Transforms/Vectorize/SLPVectorizer.cpp
@@ -4287,8 +4287,8 @@
 bool BoUpSLP::areAllUsersVectorized(Instruction *I,
                                     ArrayRef<Value *> VectorizedVals) const {
   return (I->hasOneUse() && is_contained(VectorizedVals, I)) ||
-         llvm::all_of(I->users(), [this](User *U) {
-           return ScalarToTreeEntry.count(U) > 0;
+         all_of(I->users(), [this](User *U) {
+           return ScalarToTreeEntry.count(U) > 0 || MustGather.contains(U);
          });
 }
 
@@ -4442,9 +4442,9 @@
   // FIXME: it tries to fix a problem with MSVC buildbots.
   TargetTransformInfo &TTIRef = *TTI;
   auto &&AdjustExtractsCost = [this, &TTIRef, CostKind, VL, VecTy,
-                               VectorizedVals](InstructionCost &Cost,
-                                               bool IsGather) {
+                               VectorizedVals, E](InstructionCost &Cost) {
     DenseMap<Value *, int> ExtractVectorsTys;
+    SmallPtrSet<Value *, 4> CheckedExtracts;
     for (auto *V : VL) {
       if (isa<UndefValue>(V))
         continue;
@@ -4452,7 +4452,12 @@
       // instruction itself is not going to be vectorized, consider this
       // instruction as dead and remove its cost from the final cost of the
       // vectorized tree.
-      if (!areAllUsersVectorized(cast<Instruction>(V), VectorizedVals))
+      // Also, avoid adjusting the cost for extractelements with multiple uses
+      // in different graph entries.
+      const TreeEntry *VE = getTreeEntry(V);
+      if (!CheckedExtracts.insert(V).second ||
+          !areAllUsersVectorized(cast<Instruction>(V), VectorizedVals) ||
+          (VE && VE != E))
         continue;
       auto *EE = cast<ExtractElementInst>(V);
       Optional<unsigned> EEIdx = getExtractIndex(EE);
@@ -4549,11 +4554,6 @@
       }
       return GatherCost;
     }
-    if (isSplat(VL)) {
-      // Found the broadcasting of the single scalar, calculate the cost as the
-      // broadcast.
-      return TTI->getShuffleCost(TargetTransformInfo::SK_Broadcast, VecTy);
-    }
     if ((E->getOpcode() == Instruction::ExtractElement ||
          all_of(E->Scalars,
                 [](Value *V) {
@@ -4571,13 +4571,18 @@
         // single input vector or of 2 input vectors.
         InstructionCost Cost =
             computeExtractCost(VL, VecTy, *ShuffleKind, Mask, *TTI);
-        AdjustExtractsCost(Cost, /*IsGather=*/true);
+        AdjustExtractsCost(Cost);
         if (NeedToShuffleReuses)
           Cost += TTI->getShuffleCost(TargetTransformInfo::SK_PermuteSingleSrc,
                                       FinalVecTy, E->ReuseShuffleIndices);
         return Cost;
       }
     }
+    if (isSplat(VL)) {
+      // Found the broadcasting of the single scalar, calculate the cost as the
+      // broadcast.
+      return TTI->getShuffleCost(TargetTransformInfo::SK_Broadcast, VecTy);
+    }
     InstructionCost ReuseShuffleCost = 0;
     if (NeedToShuffleReuses)
       ReuseShuffleCost = TTI->getShuffleCost(
@@ -4755,7 +4760,7 @@
               TTI->getVectorInstrCost(Instruction::ExtractElement, VecTy, I);
         }
       } else {
-        AdjustExtractsCost(CommonCost, /*IsGather=*/false);
+        AdjustExtractsCost(CommonCost);
       }
       return CommonCost;
     }
diff --git a/llvm/test/Transforms/SLPVectorizer/X86/extractelement-multiple-uses.ll b/llvm/test/Transforms/SLPVectorizer/X86/extractelement-multiple-uses.ll
--- a/llvm/test/Transforms/SLPVectorizer/X86/extractelement-multiple-uses.ll
+++ b/llvm/test/Transforms/SLPVectorizer/X86/extractelement-multiple-uses.ll
@@ -2,24 +2,25 @@
 ; RUN: opt < %s -slp-vectorizer -S -mtriple=x86_64-unknown-linux -march=core-avx2 -pass-remarks-output=%t | FileCheck %s
 ; RUN: FileCheck %s --input-file=%t --check-prefix=YAML
 
-; YAML: --- !Missed
+; YAML: --- !Passed
 ; YAML: Pass:            slp-vectorizer
-; YAML: Name:            NotBeneficial
+; YAML: Name:            VectorizedList
 ; YAML: Function:        multi_uses
 ; YAML: Args:
-; YAML:  - String:          'List vectorization was possible but not beneficial with cost '
-; YAML:  - Cost:            '0'
-; YAML:  - String:          ' >= '
-; YAML:  - Treshold:        '0'
+; YAML:  - String:          'SLP vectorized with cost '
+; YAML:  - Cost:            '-1'
+; YAML:  - String:          ' and with tree size '
+; YAML:  - TreeSize:        '3'
 
 define float @multi_uses(<2 x float> %x, <2 x float> %y) {
 ; CHECK-LABEL: @multi_uses(
-; CHECK-NEXT:    [[X0:%.*]] = extractelement <2 x float> [[X:%.*]], i32 0
-; CHECK-NEXT:    [[X1:%.*]] = extractelement <2 x float> [[X]], i32 1
 ; CHECK-NEXT:    [[Y1:%.*]] = extractelement <2 x float> [[Y:%.*]], i32 1
-; CHECK-NEXT:    [[X0X0:%.*]] = fmul float [[X0]], [[Y1]]
-; CHECK-NEXT:    [[X1X1:%.*]] = fmul float [[X1]], [[Y1]]
-; CHECK-NEXT:    [[ADD:%.*]] = fadd float [[X0X0]], [[X1X1]]
+; CHECK-NEXT:    [[TMP1:%.*]] = insertelement <2 x float> poison, float [[Y1]], i32 0
+; CHECK-NEXT:    [[TMP2:%.*]] = insertelement <2 x float> [[TMP1]], float [[Y1]], i32 1
+; CHECK-NEXT:    [[TMP3:%.*]] = fmul <2 x float> [[X:%.*]], [[TMP2]]
+; CHECK-NEXT:    [[TMP4:%.*]] = extractelement <2 x float> [[TMP3]], i32 0
+; CHECK-NEXT:    [[TMP5:%.*]] = extractelement <2 x float> [[TMP3]], i32 1
+; CHECK-NEXT:    [[ADD:%.*]] = fadd float [[TMP4]], [[TMP5]]
 ; CHECK-NEXT:    ret float [[ADD]]
 ;
   %x0 = extractelement <2 x float> %x, i32 0