diff --git a/GPU/Debugger/Playback.cpp b/GPU/Debugger/Playback.cpp
index 81b0d96cee..9c636d5063 100644
--- a/GPU/Debugger/Playback.cpp
+++ b/GPU/Debugger/Playback.cpp
@@ -610,7 +610,18 @@ void DumpExecute::SubmitListEnd() {
 }
 
 void DumpExecute::Init(u32 ptr, u32 sz) {
-	gstate.Restore((u32_le *)(pushbuf_.data() + ptr));
+	// Dumps from before savedContextVersion 1 hold PPSSPP's old context layout, with the matrices as raw
+	// floats; the new one ends its commands with an END. Restoring an old one as new turned its matrices
+	// into garbage and the scene disappeared (4140). The PSP replayer tells them apart the same way.
+	const u32_le *context = (const u32_le *)(pushbuf_.data() + ptr);
+	bool oldLayout = true;
+	for (int i = 17; i < 512; ++i) {
+		if (context[i] == GE_CMD_END << 24) {
+			oldLayout = false;
+			break;
+		}
+	}
+	gstate.Restore(context, oldLayout);
 	ExecuteOnMain(Operation{ OpType::ReapplyGfxState });
 	fbPtr_ = gstate.fbptr & 0x00FFFFFF;
 	fbWidth_ = gstate.fbwidth & 0x00FFFFFF;
diff --git a/GPU/GPUState.cpp b/GPU/GPUState.cpp
index 8b7de27977..c384df55df 100644
--- a/GPU/GPUState.cpp
+++ b/GPU/GPUState.cpp
@@ -205,6 +205,10 @@ void GEState::FastLoadBoneMatrix(u32 addr) {
 }
 
 void GEState::Restore(const u32_le *ptr) {
+	Restore(ptr, savedContextVersion == 0);
+}
+
+void GEState::Restore(const u32_le *ptr, bool oldLayout) {
 	// Not sure what the first 10 values are, exactly, but these seem right.
 	gstate_c.vertexAddr = ptr[5];
 	gstate_c.indexAddr = ptr[6];
@@ -218,7 +222,7 @@ void GEState::Restore(const u32_le *ptr) {
 		}
 	}
 
-	if (savedContextVersion == 0) {
+	if (oldLayout) {
 		if (Memory::IsValidAddress(getClutAddress()))
 			loadclut = *cmds++;
 		boneMatrixNumber = *cmds++;
diff --git a/GPU/GPUState.h b/GPU/GPUState.h
index 0422d67d89..7fe8bd8238 100644
--- a/GPU/GPUState.h
+++ b/GPU/GPUState.h
@@ -439,6 +439,8 @@ struct GEState {
 	static void Reset();
 	void Save(u32_le *ptr);
 	void Restore(const u32_le *ptr);
+	// oldLayout: PPSSPP's layout before savedContextVersion 1, with the matrices as raw floats.
+	void Restore(const u32_le *ptr, bool oldLayout);
 };
 
 bool vertTypeIsSkinningEnabled(u32 vertType);