diff --git a/docs/release-notes/version-3.3.md b/docs/release-notes/version-3.3.md
index 27bb39a0f..ffb3b9ffe 100644
--- a/docs/release-notes/version-3.3.md
+++ b/docs/release-notes/version-3.3.md
@@ -20,6 +20,7 @@
 * [#10938](https://github.com/netbox-community/netbox/issues/10938) - `render_field` template tag should respect `label` kwarg
 * [#10969](https://github.com/netbox-community/netbox/issues/10969) - Update cable paths ending at associated rear port when creating new front ports
 * [#10996](https://github.com/netbox-community/netbox/issues/10996) - Hide checkboxes on child object lists when no bulk operations are available
+* [#10997](https://github.com/netbox-community/netbox/issues/10997) - Fix exception when editing NAT IP for VM with no cluster
 
 ---
 
diff --git a/netbox/ipam/forms/models.py b/netbox/ipam/forms/models.py
index 95723f80d..43fd12cd2 100644
--- a/netbox/ipam/forms/models.py
+++ b/netbox/ipam/forms/models.py
@@ -429,7 +429,8 @@ class IPAddressForm(TenancyForm, NetBoxModelForm):
                         initial['nat_rack'] = nat_inside_parent.device.rack.pk
                     initial['nat_device'] = nat_inside_parent.device.pk
                 elif type(nat_inside_parent) is VMInterface:
-                    initial['nat_cluster'] = nat_inside_parent.virtual_machine.cluster.pk
+                    if cluster := nat_inside_parent.virtual_machine.cluster:
+                        initial['nat_cluster'] = cluster.pk
                     initial['nat_virtual_machine'] = nat_inside_parent.virtual_machine.pk
         kwargs['initial'] = initial