diff --git a/fs/netfs/buffered_read.c b/fs/netfs/buffered_read.c
index 7ac34550c403..4dc9b8286355 100644
--- a/fs/netfs/buffered_read.c
+++ b/fs/netfs/buffered_read.c
@@ -275,22 +275,14 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq)
 			netfs_stat(&netfs_n_rh_download);
 			if (rreq->netfs_ops->prepare_read) {
 				ret = rreq->netfs_ops->prepare_read(subreq);
-				if (ret < 0) {
-					atomic_dec(&rreq->nr_outstanding);
-					netfs_put_subrequest(subreq, false,
-							     netfs_sreq_trace_put_cancel);
-					break;
-				}
+				if (ret < 0)
+					goto prep_failed;
 				trace_netfs_sreq(subreq, netfs_sreq_trace_prepare);
 			}
 
 			slice = netfs_prepare_read_iterator(subreq);
-			if (slice < 0) {
-				atomic_dec(&rreq->nr_outstanding);
-				netfs_put_subrequest(subreq, false, netfs_sreq_trace_put_cancel);
-				ret = slice;
-				break;
-			}
+			if (slice < 0)
+				goto prep_iter_failed;
 
 			rreq->netfs_ops->issue_read(subreq);
 			goto done;
@@ -302,6 +294,8 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq)
 			trace_netfs_sreq(subreq, netfs_sreq_trace_submit);
 			netfs_stat(&netfs_n_rh_zero);
 			slice = netfs_prepare_read_iterator(subreq);
+			if (slice < 0)
+				goto prep_iter_failed;
 			__set_bit(NETFS_SREQ_CLEAR_TAIL, &subreq->flags);
 			netfs_read_subreq_terminated(subreq, 0, false);
 			goto done;
@@ -310,6 +304,8 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq)
 		if (source == NETFS_READ_FROM_CACHE) {
 			trace_netfs_sreq(subreq, netfs_sreq_trace_submit);
 			slice = netfs_prepare_read_iterator(subreq);
+			if (slice < 0)
+				goto prep_iter_failed;
 			netfs_read_cache_to_pagecache(rreq, subreq);
 			goto done;
 		}
@@ -318,6 +314,14 @@ static void netfs_read_to_pagecache(struct netfs_io_request *rreq)
 		WARN_ON_ONCE(1);
 		break;
 
+	prep_iter_failed:
+		ret = slice;
+	prep_failed:
+		subreq->error = ret;
+		atomic_dec(&rreq->nr_outstanding);
+		netfs_put_subrequest(subreq, false, netfs_sreq_trace_put_cancel);
+		break;
+
 	done:
 		size -= slice;
 		start += slice;