diff --git a/src/backend/parser/analyze.c b/src/backend/parser/analyze.c
index 36f8c548eb..1a541788eb 100644
--- a/src/backend/parser/analyze.c
+++ b/src/backend/parser/analyze.c
@@ -996,11 +996,10 @@ transformOnConflictClause(ParseState *pstate,
 		exclRelIndex = list_length(pstate->p_rtable);
 
 		/*
-		 * Build a targetlist for the EXCLUDED pseudo relation. Have to be
-		 * careful to use resnos that correspond to attnos of the underlying
-		 * relation.
+		 * Build a targetlist representing the columns of the EXCLUDED pseudo
+		 * relation.  Have to be careful to use resnos that correspond to
+		 * attnos of the underlying relation.
 		 */
-		Assert(pstate->p_next_resno == 1);
 		for (attno = 0; attno < targetrel->rd_rel->relnatts; attno++)
 		{
 			Form_pg_attribute attr = targetrel->rd_att->attrs[attno];
@@ -1021,14 +1020,11 @@ transformOnConflictClause(ParseState *pstate,
 							  attr->atttypid, attr->atttypmod,
 							  attr->attcollation,
 							  0);
-				var->location = -1;
-
-				name = NameStr(attr->attname);
+				name = pstrdup(NameStr(attr->attname));
 			}
 
-			Assert(pstate->p_next_resno == attno + 1);
 			te = makeTargetEntry((Expr *) var,
-								 pstate->p_next_resno++,
+								 attno + 1,
 								 name,
 								 false);
 
@@ -1037,15 +1033,16 @@ transformOnConflictClause(ParseState *pstate,
 		}
 
 		/*
-		 * Additionally add a whole row tlist entry for EXCLUDED. That's
-		 * really only needed for ruleutils' benefit, which expects to find
-		 * corresponding entries in child tlists. Alternatively we could do
-		 * this only when required, but that doesn't seem worth the trouble.
+		 * Add a whole-row-Var entry to support references to "EXCLUDED.*".
+		 * Like the other entries in exclRelTlist, its resno must match the
+		 * Var's varattno, else the wrong things happen while resolving
+		 * references in setrefs.c.  This is against normal conventions for
+		 * targetlists, but it's okay since we don't use this as a real tlist.
 		 */
 		var = makeVar(exclRelIndex, InvalidAttrNumber,
-					  RelationGetRelid(targetrel),
+					  targetrel->rd_rel->reltype,
 					  -1, InvalidOid, 0);
-		te = makeTargetEntry((Expr *) var, 0, NULL, true);
+		te = makeTargetEntry((Expr *) var, InvalidAttrNumber, NULL, true);
 		exclRelTlist = lappend(exclRelTlist, te);
 
 		/*