Index: lib/CodeGen/SelectionDAG/DAGCombiner.cpp
===================================================================
--- lib/CodeGen/SelectionDAG/DAGCombiner.cpp
+++ lib/CodeGen/SelectionDAG/DAGCombiner.cpp
@@ -12265,6 +12265,9 @@
 
 SDValue DAGCombiner::ReplaceExtractVectorEltOfLoadWithNarrowedLoad(
     SDNode *EVE, EVT InVecVT, SDValue EltNo, LoadSDNode *OriginalLoad) {
+  if (OriginalLoad->isVolatile())
+    return SDValue();
+
   EVT ResultVT = EVE->getValueType(0);
   EVT VecEltVT = InVecVT.getVectorElementType();
   unsigned Align = OriginalLoad->getAlignment();
Index: test/CodeGen/AMDGPU/extractelt-to-trunc.ll
===================================================================
--- test/CodeGen/AMDGPU/extractelt-to-trunc.ll
+++ test/CodeGen/AMDGPU/extractelt-to-trunc.ll
@@ -41,3 +41,37 @@
    store float %extract, float addrspace(1)* %out
    ret void
 }
+
+; GCN-LABEL: {{^}}no_extract_volatile_load_extract0:
+; GCN: buffer_load_dwordx4
+; GCN: buffer_store_dword v
+define void @no_extract_volatile_load_extract0(i32 addrspace(1)* %out, <4 x i32> addrspace(1)* %in) {
+entry:
+  %vec = load volatile <4 x i32>, <4 x i32> addrspace(1)* %in
+  %elt0 = extractelement <4 x i32> %vec, i32 0
+  store i32 %elt0, i32 addrspace(1)* %out
+  ret void
+}
+
+; GCN-LABEL: {{^}}no_extract_volatile_load_extract2:
+; GCN: buffer_load_dwordx4
+; GCN: buffer_store_dword v
+
+define void @no_extract_volatile_load_extract2(i32 addrspace(1)* %out, <4 x i32> addrspace(1)* %in) {
+entry:
+  %vec = load volatile <4 x i32>, <4 x i32> addrspace(1)* %in
+  %elt2 = extractelement <4 x i32> %vec, i32 2
+  store i32 %elt2, i32 addrspace(1)* %out
+  ret void
+}
+
+; GCN-LABEL: {{^}}no_extract_volatile_load_dynextract:
+; GCN: buffer_load_dwordx4
+; GCN: buffer_store_dword v
+define void @no_extract_volatile_load_dynextract(i32 addrspace(1)* %out, <4 x i32> addrspace(1)* %in, i32 %idx) {
+entry:
+  %vec = load volatile <4 x i32>, <4 x i32> addrspace(1)* %in
+  %eltN = extractelement <4 x i32> %vec, i32 %idx
+  store i32 %eltN, i32 addrspace(1)* %out
+  ret void
+}