From section "Other Causes Of VM Exits" it is possible to infer the relative priority of the following VM Exits. From section 26.6.4 "VMX-Preemption Timer" it can be inferred that the Event Injection happens before any of these VM Exits are evaluated. Event Injection (if the VM entry is vectoring) MTF VM-exit (section 25.5.2 Monitor Trap Flag) Debug-trap exceptions VMX-preemption timer NMI-window exiting External NMI Interrupt-window exiting External interrupt