diff --git a/staging/src/k8s.io/pod-security-admission/admission/admission.go b/staging/src/k8s.io/pod-security-admission/admission/admission.go
index d6450a429f4..fc36f0530c7 100644
--- a/staging/src/k8s.io/pod-security-admission/admission/admission.go
+++ b/staging/src/k8s.io/pod-security-admission/admission/admission.go
@@ -21,6 +21,7 @@ import (
 	"fmt"
 	"reflect"
 	"sort"
+	"strings"
 	"time"
 
 	"k8s.io/klog/v2"
@@ -250,7 +251,7 @@ func (a *Admission) ValidateNamespace(ctx context.Context, attrs api.Attributes)
 			return invalidResponse(attrs, newErrs)
 		}
 		if a.exemptNamespace(attrs.GetNamespace()) {
-			if warning := a.exemptNamespaceWarning(namespace.Name, newPolicy); warning != "" {
+			if warning := a.exemptNamespaceWarning(namespace.Name, newPolicy, namespace.Labels); warning != "" {
 				response := allowedResponse()
 				response.Warnings = append(response.Warnings, warning)
 				return response
@@ -293,7 +294,7 @@ func (a *Admission) ValidateNamespace(ctx context.Context, attrs api.Attributes)
 			return sharedAllowedResponse
 		}
 		if a.exemptNamespace(attrs.GetNamespace()) {
-			if warning := a.exemptNamespaceWarning(namespace.Name, newPolicy); warning != "" {
+			if warning := a.exemptNamespaceWarning(namespace.Name, newPolicy, namespace.Labels); warning != "" {
 				response := allowedResponse()
 				response.Warnings = append(response.Warnings, warning)
 				return response
@@ -736,11 +737,39 @@ func containsString(needle string, haystack []string) bool {
 
 // exemptNamespaceWarning returns a non-empty warning message if the exempt namespace has a
 // non-privileged policy and sets pod security labels.
-func (a *Admission) exemptNamespaceWarning(exemptNamespace string, policy api.Policy) string {
+func (a *Admission) exemptNamespaceWarning(exemptNamespace string, policy api.Policy, nsLabels map[string]string) string {
 	if policy.FullyPrivileged() || policy.Equivalent(&a.defaultPolicy) {
 		return ""
 	}
 
+	// Build a compact representation of the policy, only printing non-privileged modes that have
+	// been explicitly set.
+	sb := strings.Builder{}
+	_, hasEnforceLevel := nsLabels[api.EnforceLevelLabel]
+	_, hasEnforceVersion := nsLabels[api.EnforceVersionLabel]
+	if policy.Enforce.Level != api.LevelPrivileged && (hasEnforceLevel || hasEnforceVersion) {
+		sb.WriteString("enforce=")
+		sb.WriteString(policy.Enforce.String())
+	}
+	_, hasAuditLevel := nsLabels[api.AuditLevelLabel]
+	_, hasAuditVersion := nsLabels[api.AuditVersionLabel]
+	if policy.Audit.Level != api.LevelPrivileged && (hasAuditLevel || hasAuditVersion) {
+		if sb.Len() > 0 {
+			sb.WriteString(", ")
+		}
+		sb.WriteString("audit=")
+		sb.WriteString(policy.Audit.String())
+	}
+	_, hasWarnLevel := nsLabels[api.WarnLevelLabel]
+	_, hasWarnVersion := nsLabels[api.WarnVersionLabel]
+	if policy.Warn.Level != api.LevelPrivileged && (hasWarnLevel || hasWarnVersion) {
+		if sb.Len() > 0 {
+			sb.WriteString(", ")
+		}
+		sb.WriteString("warn=")
+		sb.WriteString(policy.Warn.String())
+	}
+
 	return fmt.Sprintf("namespace %q is exempt from Pod Security, and the policy (%s) will be ignored",
-		exemptNamespace, policy.CompactString())
+		exemptNamespace, sb.String())
 }
diff --git a/staging/src/k8s.io/pod-security-admission/admission/admission_test.go b/staging/src/k8s.io/pod-security-admission/admission/admission_test.go
index c0412b6d930..26bf4f3ab01 100644
--- a/staging/src/k8s.io/pod-security-admission/admission/admission_test.go
+++ b/staging/src/k8s.io/pod-security-admission/admission/admission_test.go
@@ -278,7 +278,7 @@ func TestValidateNamespace(t *testing.T) {
 			expectAllowed:    true,
 			expectListPods:   false,
 			expectWarnings: []string{
-				`namespace "test" is exempt from Pod Security, and the policy (enforce=restricted:latest, warn=restricted:latest) will be ignored`,
+				`namespace "test" is exempt from Pod Security, and the policy (enforce=restricted:latest) will be ignored`,
 			},
 		},
 		{
@@ -1180,7 +1180,7 @@ func TestExemptNamespaceWarning(t *testing.T) {
 			api.EnforceLevelLabel: string(api.LevelBaseline),
 		},
 		expectWarning:         true,
-		expectWarningContains: "(enforce=baseline:latest, warn=baseline:latest)",
+		expectWarningContains: "(enforce=baseline:latest)",
 	}, {
 		name: "warn-on-warn",
 		labels: map[string]string{
@@ -1206,7 +1206,7 @@ func TestExemptNamespaceWarning(t *testing.T) {
 		},
 		defaultPolicy:         baselinePolicy,
 		expectWarning:         true,
-		expectWarningContains: "(enforce=baseline:v1.23, audit=baseline:v1.23, warn=baseline:latest)",
+		expectWarningContains: "(warn=baseline:latest)",
 	}}
 
 	const (
@@ -1228,7 +1228,7 @@ func TestExemptNamespaceWarning(t *testing.T) {
 			policy, err := api.PolicyToEvaluate(labels, defaultPolicy)
 			require.NoError(t, err.ToAggregate())
 
-			warning := a.exemptNamespaceWarning(test.name, policy)
+			warning := a.exemptNamespaceWarning(test.name, policy, labels)
 			if !test.expectWarning {
 				assert.Empty(t, warning)
 				return
diff --git a/staging/src/k8s.io/pod-security-admission/api/helpers.go b/staging/src/k8s.io/pod-security-admission/api/helpers.go
index 200a82cdab0..706b6b36b20 100644
--- a/staging/src/k8s.io/pod-security-admission/api/helpers.go
+++ b/staging/src/k8s.io/pod-security-admission/api/helpers.go
@@ -161,35 +161,6 @@ func (p *Policy) String() string {
 	return fmt.Sprintf("enforce=%#v, audit=%#v, warn=%#v", p.Enforce, p.Audit, p.Warn)
 }
 
-// CompactString prints a minimalist representation of the policy that excludes any privileged
-// levels.
-func (p *Policy) CompactString() string {
-	sb := strings.Builder{}
-	if p.Enforce.Level != LevelPrivileged {
-		sb.WriteString("enforce=")
-		sb.WriteString(p.Enforce.String())
-	}
-	if p.Audit.Level != LevelPrivileged {
-		if sb.Len() > 0 {
-			sb.WriteString(", ")
-		}
-		sb.WriteString("audit=")
-		sb.WriteString(p.Audit.String())
-	}
-	if p.Warn.Level != LevelPrivileged {
-		if sb.Len() > 0 {
-			sb.WriteString(", ")
-		}
-		sb.WriteString("warn=")
-		sb.WriteString(p.Warn.String())
-	}
-	if sb.Len() == 0 {
-		// All modes were privileged, just output "privileged".
-		return string(LevelPrivileged)
-	}
-	return sb.String()
-}
-
 // Equivalent determines whether two policies are functionally equivalent. Policies are considered
 // equivalent if all 3 modes are considered equivalent.
 func (p *Policy) Equivalent(other *Policy) bool {