diff --git a/src/core/annotations/qgsannotationpointtextitem.cpp b/src/core/annotations/qgsannotationpointtextitem.cpp
index 440083fd08e..5311d840edc 100644
--- a/src/core/annotations/qgsannotationpointtextitem.cpp
+++ b/src/core/annotations/qgsannotationpointtextitem.cpp
@@ -88,7 +88,7 @@ void QgsAnnotationPointTextItem::render( QgsRenderContext &context, QgsFeedback
 
   QgsTextRenderer::drawText( pt, - angle * M_PI / 180.0,
                              QgsTextRenderer::convertQtHAlignment( mAlignment ),
-                             displayText.split( '\n' ), context, mTextFormat );
+                             mTextFormat.allowHtmlFormatting() ? QStringList{displayText }: displayText.split( '\n' ), context, mTextFormat );
 }
 
 bool QgsAnnotationPointTextItem::writeXml( QDomElement &element, QDomDocument &document, const QgsReadWriteContext &context ) const
@@ -165,8 +165,8 @@ QgsRectangle QgsAnnotationPointTextItem::boundingBox( QgsRenderContext &context
 {
   const QString displayText = QgsExpression::replaceExpressionText( mText, &context.expressionContext(), &context.distanceArea() );
 
-  const double widthInPixels = QgsTextRenderer::textWidth( context, mTextFormat, displayText.split( '\n' ) );
-  const double heightInPixels = QgsTextRenderer::textHeight( context, mTextFormat, displayText.split( '\n' ) );
+  const double widthInPixels = QgsTextRenderer::textWidth( context, mTextFormat, mTextFormat.allowHtmlFormatting() ? QStringList{displayText }: displayText.split( '\n' ) );
+  const double heightInPixels = QgsTextRenderer::textHeight( context, mTextFormat, mTextFormat.allowHtmlFormatting() ? QStringList{displayText }: displayText.split( '\n' ) );
 
   // text size has already been calculated using any symbology reference scale factor above -- we need
   // to temporarily remove the reference scale here or we'll be undoing the scaling
diff --git a/src/core/annotations/qgsannotationrectangletextitem.cpp b/src/core/annotations/qgsannotationrectangletextitem.cpp
index 3a1bf49c0ce..be0883ec95b 100644
--- a/src/core/annotations/qgsannotationrectangletextitem.cpp
+++ b/src/core/annotations/qgsannotationrectangletextitem.cpp
@@ -96,7 +96,7 @@ void QgsAnnotationRectangleTextItem::render( QgsRenderContext &context, QgsFeedb
   context.setFlag( Qgis::RenderContextFlag::ApplyScalingWorkaroundForTextRendering, true );
   QgsTextRenderer::drawText( innerRect, 0,
                              QgsTextRenderer::convertQtHAlignment( mAlignment ),
-                             displayText.split( '\n' ), context, mTextFormat, true,
+                             mTextFormat.allowHtmlFormatting() ? QStringList{displayText }: displayText.split( '\n' ), context, mTextFormat, true,
                              QgsTextRenderer::convertQtVAlignment( mAlignment ),
                              Qgis::TextRendererFlag::WrapLines );
   context.setFlag( Qgis::RenderContextFlag::ApplyScalingWorkaroundForTextRendering, prevWorkaroundFlag );