diff --git a/GPU/Common/DrawEngineCommon.cpp b/GPU/Common/DrawEngineCommon.cpp
index 2039c2412b..e9d0da0701 100644
--- a/GPU/Common/DrawEngineCommon.cpp
+++ b/GPU/Common/DrawEngineCommon.cpp
@@ -484,10 +484,14 @@ static bool TestBoundingBoxFast(const float *cullMatrix, const void *vdata, cons
 		flags |= ClipInfoFlags::FlatZ | ClipInfoFlags::SoftClipCull;
 	}
 
-	if (needFragmentDepthClamp() && (minProjZ < 0 || maxProjZ > 65535)) {
+	if (needFragmentDepthClamp()) {
 		if (gstate_c.Use(GPU_USE_DEPTH_CLAMP)) {
-			flags |= ClipInfoFlags::DepthClamp;
-		} else {
+			if (minProjZ < 0 || maxProjZ > 65535) {
+				flags |= ClipInfoFlags::DepthClamp;
+			}
+		} else if (minProjZ <= 0 || maxProjZ >= 65535) {
+			// Including draws right on the limit (Puyo Puyo Fever 2's flat Z = 0 ground): hardware clamp keeps
+			// what rounding puts just outside, the clip without it doesn't.
 			flags |= ClipInfoFlags::DepthClampFragment;
 		}
 	}
@@ -496,6 +500,21 @@ static bool TestBoundingBoxFast(const float *cullMatrix, const void *vdata, cons
 	return true;
 }
 
+ClipInfoFlags DrawEngineCommon::UncheckedClipInfoFlags() {
+	ClipInfoFlags flags{};
+	if (gstate.isModeThrough() || gstate.isModeClear()) {
+		return flags;
+	}
+	// Hardware depth clamp and clip planes are always on for these, so do the same with the fallbacks.
+	if (needFragmentDepthClamp() && !gstate_c.Use(GPU_USE_DEPTH_CLAMP)) {
+		flags |= ClipInfoFlags::Valid | ClipInfoFlags::DepthClampFragment;
+	}
+	if (needFragmentMinMaxClipping() && !gstate_c.Use(GPU_USE_CLIP_DISTANCE)) {
+		flags |= ClipInfoFlags::Valid | ClipInfoFlags::MinMaxZDiscard;
+	}
+	return flags;
+}
+
 bool DrawEngineCommon::TestBoundingBoxFast(const float *cullMatrix, const void *vdata, const void *idata, int vertexCount, const VertexDecoder *dec, u32 vertType, ClipInfoFlags *flags) {
 	// Although this may lead to drawing that shouldn't happen, the viewport is more complex on VR.
 	// Let's always say objects are within bounds.
diff --git a/GPU/Common/DrawEngineCommon.h b/GPU/Common/DrawEngineCommon.h
index ead2aef587..e84bf5e488 100644
--- a/GPU/Common/DrawEngineCommon.h
+++ b/GPU/Common/DrawEngineCommon.h
@@ -105,6 +105,9 @@ public:
 	// Doesn't support indexing.
 	bool TestBoundingBoxFast(const float *cullMatrix, const void *vdata, const void *idata, int vertexCount, const VertexDecoder *dec, u32 vertType, ClipInfoFlags *clipInfoFlags);
 	bool TestBoundingBoxThrough(GEPrimitiveType prim, const void *vdata, const void *idata, int vertexCount, const VertexDecoder *dec, u32 vertType, int *bytesRead, ClipInfoFlags *flags);
+	// For a draw too big or complex for TestBoundingBoxFast: the fallbacks it would need on a GPU that lacks
+	// depth clamp or clip distances, assuming the worst, or nothing (not Valid) if none are needed.
+	static ClipInfoFlags UncheckedClipInfoFlags();
 	bool EstimateThroughPrimSafeSize(const void *verts, const void *inds, GEPrimitiveType prim, int vertexCount, const VertexDecoder *dec, u32 vertType, int *safeWidth, int *safeHeight);
 
 	void FlushPartialDecode() {
diff --git a/GPU/Common/FragmentShaderGenerator.cpp b/GPU/Common/FragmentShaderGenerator.cpp
index 9f69509372..49b1943f99 100644
--- a/GPU/Common/FragmentShaderGenerator.cpp
+++ b/GPU/Common/FragmentShaderGenerator.cpp
@@ -1281,7 +1281,8 @@ bool GenerateFragmentShader(const FShaderID &id, char *buffer, const ShaderLangu
 				WRITE(p, "  gl_FragDepth = floor(gl_FragCoord.z * 65536.0 + 0.01) / 65535.0;\n");
 			}
 		} else if (fsDepthClamp) {
-			WRITE(p, "  gl_FragDepth = clamp(projZ, 0.0, 65535.0) / 65535.0;\n");
+			// What the vertex shader's Z / 65536 gives with hardware depth clamp.
+			WRITE(p, "  gl_FragDepth = clamp(projZ * (1.0 / 65536.0), 0.0, 1.0);\n");
 		}
 	} else if (useDiscardStencilBugWorkaround) {
 		// Adreno and some Mali drivers apply early frag tests even with discard in the shader,
diff --git a/GPU/Common/VertexShaderGenerator.cpp b/GPU/Common/VertexShaderGenerator.cpp
index ed5025a6d7..2d1edea6da 100644
--- a/GPU/Common/VertexShaderGenerator.cpp
+++ b/GPU/Common/VertexShaderGenerator.cpp
@@ -501,7 +501,7 @@ bool GenerateVertexShader(const VShaderID &id, char *buffer, const ShaderLanguag
 		// If non-through, the viewport has already been applied here.
 		WRITE(p, "  vec4 outPos = position;\n");
 
-		if (fsMinmaxDiscard || fsDepthClamp) {
+		if (fsMinmaxDiscard) {
 			WRITE(p, "  %sv_zw = vec2(outPos.z * outPos.w, outPos.w);\n", compat.vsOutPrefix);
 		}
 	} else {
@@ -563,7 +563,7 @@ bool GenerateVertexShader(const VShaderID &id, char *buffer, const ShaderLanguag
 		WRITE(p, "  float recip = 1.0 / outPos.w;\n");
 		WRITE(p, "  outPos.xyz = (outPos.xyz * u_vpScale.xyz) * recip + u_vpOffset.xyz;\n");
 
-		if (fsMinmaxDiscard || fsDepthClamp) {
+		if (fsMinmaxDiscard) {
 			WRITE(p, "  %sv_zw = vec2(outPos.z * outPos.w, outPos.w);\n", compat.vsOutPrefix);
 		}
 
@@ -953,6 +953,12 @@ bool GenerateVertexShader(const VShaderID &id, char *buffer, const ShaderLanguag
 		WRITE(p, "  outPos.z = floor(outPos.z * 0.5) * 2.0;\n");
 	}
 
+	if (fsDepthClamp) {
+		// After the rounding, so the fragment shader clamps the Z that hardware depth clamp would.
+		// (Never needed together with fsMinmaxDiscard, which wants it unrounded.)
+		WRITE(p, "  %sv_zw = vec2(outPos.z * outPos.w, outPos.w);\n", compat.vsOutPrefix);
+	}
+
 	// It seems that depth values of 65535.6 should survive. Seen in NBA2K12 for example.
 	// So even if it seems like 65535 would make more sense, we divide by 65536 here.
 	WRITE(p, "  outPos.z *= outPos.w * (1.0 / 65536.0);\n");
diff --git a/GPU/GPUCommonHW.cpp b/GPU/GPUCommonHW.cpp
index f30e832e1f..0f42181f4b 100644
--- a/GPU/GPUCommonHW.cpp
+++ b/GPU/GPUCommonHW.cpp
@@ -1006,6 +1006,9 @@ void GPUCommonHW::Execute_Prim(u32 op, u32 diff) {
 
 	// If certain conditions are true, do frustum culling.
 	bool passCulling = PASSES_CULLING;
+	if (passCulling && !(flags & ClipInfoFlags::Valid)) {
+		flags = DrawEngineCommon::UncheckedClipInfoFlags();
+	}
 	if (!passCulling) {
 		// Do software culling.
 		if (drawEngineCommon_->TestBoundingBoxFast(gstate_c.cullMatrix, verts, inds, count, decoder, vertexType, &flags)) {
@@ -1095,6 +1098,9 @@ void GPUCommonHW::Execute_Prim(u32 op, u32 diff) {
 
 			bool passCulling = onePassed || PASSES_CULLING;
 			ClipInfoFlags flags{};
+			if (passCulling) {
+				flags = DrawEngineCommon::UncheckedClipInfoFlags();
+			}
 			if (!passCulling) {
 				// Do software culling.
 				if (drawEngineCommon_->TestBoundingBoxFast(gstate_c.cullMatrix, verts, inds, count, decoder, vertexType, &flags)) {