diff --git a/vvp/Makefile.in b/vvp/Makefile.in
index 4673101cb..db72f87db 100644
--- a/vvp/Makefile.in
+++ b/vvp/Makefile.in
@@ -142,12 +142,16 @@ else
 # This requires making the vvp.exe in two steps. The first step makes
 # a vvp.exe that dlltool can use to make an export library, and the
 # second step makes a vvp.exe that really exports those things.
+#
+# To get this to work correctly we must use the suffixed version of the
+# executable to build the export library, but leave the final vvp.exe
+# without a suffix.
 vvp@EXEEXT@: main.o $O $(srcdir)/vvp.def
 	$(CXX) -o vvp$(suffix)@EXEEXT@ $(LDFLAGS) main.o $O $(dllib) $(LIBS)
 	$(DLLTOOL) --dllname vvp$(suffix)@EXEEXT@ --def $(srcdir)/vvp.def \
 		--output-exp vvp.exp
 	rm -f vvp$(suffix)@EXEEXT@
-	$(CXX) $(LDFLAGS) -o vvp$(suffix)@EXEEXT@ vvp.exp $(LDFLAGS) main.o $O $(dllib) $(LIBS)
+	$(CXX) $(LDFLAGS) -o vvp@EXEEXT@ vvp.exp $(LDFLAGS) main.o $O $(dllib) $(LIBS)
 endif
 else ifeq (@LIBVVP@,yes)