diff --git a/WHATS_NEW b/WHATS_NEW
index 3bac05317..06cd23178 100644
--- a/WHATS_NEW
+++ b/WHATS_NEW
@@ -1,5 +1,6 @@
 Version 2.02.40 - 
 ================================
+  Fix pvchange -M1 -u to preserve existing extent locations when there's a VG.
   Cease recognising snapshot-in-use percentages returned by early devt kernels.
   Add backward-compatible flags field to on-disk format_text metadata.
   Fix dmeventd monitoring libraries to link against liblvm2cmd again. (2.02.39)
diff --git a/tools/pvchange.c b/tools/pvchange.c
index c7a0ee714..aedcfc2f9 100644
--- a/tools/pvchange.c
+++ b/tools/pvchange.c
@@ -26,6 +26,9 @@ static int _pvchange_single(struct cmd_context *cmd, struct physical_volume *pv,
 	struct list mdas;
 	uint64_t sector;
 	uint32_t orig_pe_alloc_count;
+	/* FIXME Next three only required for format1. */
+	uint32_t orig_pe_count, orig_pe_size;
+	uint64_t orig_pe_start;
 
 	const char *pv_name = pv_dev_name(pv);
 	const char *tag = NULL;
@@ -171,6 +174,12 @@ static int _pvchange_single(struct cmd_context *cmd, struct physical_volume *pv,
 		if (!is_orphan(pv)) {
 			orig_vg_name = pv_vg_name(pv);
 			orig_pe_alloc_count = pv_pe_alloc_count(pv);
+
+			/* FIXME format1 pv_write doesn't preserve these. */
+			orig_pe_size = pv_pe_size(pv);
+			orig_pe_start = pv_pe_start(pv);
+			orig_pe_count = pv_pe_count(pv);
+
 			pv->vg_name = pv->fmt->orphan_vg_name;
 			pv->pe_alloc_count = 0;
 			if (!(pv_write(cmd, pv, NULL, INT64_C(-1)))) {
@@ -181,6 +190,10 @@ static int _pvchange_single(struct cmd_context *cmd, struct physical_volume *pv,
 			}
 			pv->vg_name = orig_vg_name;
 			pv->pe_alloc_count = orig_pe_alloc_count;
+
+			pv->pe_size = orig_pe_size;
+			pv->pe_start = orig_pe_start;
+			pv->pe_count = orig_pe_count;
 		}
 	}