diff --git a/crates/iota-core/src/authority.rs b/crates/iota-core/src/authority.rs
index 9542d7d6f70..9a4f8139cb0 100644
--- a/crates/iota-core/src/authority.rs
+++ b/crates/iota-core/src/authority.rs
@@ -4643,7 +4643,11 @@ impl AuthorityState {
         gas_cost_summary: &GasCostSummary,
         checkpoint: CheckpointSequenceNumber,
         epoch_start_timestamp_ms: CheckpointTimestamp,
-    ) -> anyhow::Result<(IotaSystemState, SystemEpochInfoEventV1, TransactionEffects)> {
+    ) -> anyhow::Result<(
+        IotaSystemState,
+        Option<SystemEpochInfoEventV1>,
+        TransactionEffects,
+    )> {
         let mut txns = Vec::new();
 
         if let Some(tx) = self.create_authenticator_state_tx(epoch_store) {
@@ -4783,12 +4787,15 @@ impl AuthorityState {
             .events
             .data
             .iter()
-            .find(|event| event.is_system_epoch_info_event())
-            .expect("end of epoch tx must emit system epoch info event");
-        let system_epoch_info_event = bcs::from_bytes::<SystemEpochInfoEventV1>(
-            &system_epoch_info_event.contents,
-        )
-        .expect("deserialization should succeed since we asserted that the event is of this type");
+            .find(|event| event.is_system_epoch_info_event());
+        let system_epoch_info_event = system_epoch_info_event.map(|event| {
+            bcs::from_bytes::<SystemEpochInfoEventV1>(&event.contents).expect(
+                "deserialization should succeed since we asserted that the event is of this type",
+            )
+        });
+        // The system epoch info event can be `None` in case if the `advance_epoch`
+        // Move function call failed and was executed in the safe mode.
+        assert!(system_epoch_info_event.is_some() || system_obj.safe_mode());
 
         // We must write tx and effects to the state sync tables so that state sync is
         // able to deliver to the transaction to CheckpointExecutor after it is
diff --git a/crates/iota-core/src/checkpoints/mod.rs b/crates/iota-core/src/checkpoints/mod.rs
index c7b56a7cd34..e0c197630c1 100644
--- a/crates/iota-core/src/checkpoints/mod.rs
+++ b/crates/iota-core/src/checkpoints/mod.rs
@@ -1445,11 +1445,16 @@ impl CheckpointBuilder {
                     )
                     .await?;
 
+                // The system epoch info event can be `None` in case if the `advance_epoch`
+                // Move function call failed and was executed in the safe mode.
+                // In this case, the tokens supply should be unchanged.
+                //
                 // SAFETY: The number of minted and burnt tokens easily fit into an i64 and due
                 // to those small numbers, no overflows will occur during conversion or
                 // subtraction.
-                let epoch_supply_change = system_epoch_info_event.minted_tokens_amount as i64
-                    - system_epoch_info_event.burnt_tokens_amount as i64;
+                let epoch_supply_change = system_epoch_info_event.map_or(0, |event| {
+                    event.minted_tokens_amount as i64 - event.burnt_tokens_amount as i64
+                });
 
                 let committee = system_state_obj
                     .get_current_epoch_committee()
@@ -1574,7 +1579,7 @@ impl CheckpointBuilder {
         checkpoint_effects: &mut Vec<TransactionEffects>,
         signatures: &mut Vec<Vec<GenericSignature>>,
         checkpoint: CheckpointSequenceNumber,
-    ) -> anyhow::Result<(IotaSystemState, SystemEpochInfoEventV1)> {
+    ) -> anyhow::Result<(IotaSystemState, Option<SystemEpochInfoEventV1>)> {
         let (system_state, system_epoch_info_event, effects) = self
             .state
             .create_and_execute_advance_epoch_tx(