diff --git a/reframe/frontend/executors/policies.py b/reframe/frontend/executors/policies.py
index 75c54ba5a..1d80c3a41 100644
--- a/reframe/frontend/executors/policies.py
+++ b/reframe/frontend/executors/policies.py
@@ -49,7 +49,13 @@ def _print_perf(task):
     for key, info in perfvars.items():
         val, ref, lower, upper, unit, result = info
         name = key.split(':')[-1]
-        msg = f'P: {name}: {val} {unit} (r:{ref}, l:{lower}, u:{upper})'
+        
+        # Build reference info string only if all three reference value components are defined
+        if ref is not None and lower is not None and upper is not None:
+            msg = f'P: {name}: {val} {unit} (r:{ref}, l:{lower}, u:{upper})'
+        else:
+            msg = f'P: {name}: {val} {unit}'
+            
         if result == 'xfail':
             msg = color.colorize(msg, color.MAGENTA)
         elif result == 'fail' or result == 'xpass':