diff --git a/easybuild/framework/easyconfig/easyconfig.py b/easybuild/framework/easyconfig/easyconfig.py
index e7be97cd86..5b82ccd1ff 100644
--- a/easybuild/framework/easyconfig/easyconfig.py
+++ b/easybuild/framework/easyconfig/easyconfig.py
@@ -1623,8 +1623,9 @@ def _finalize_dependencies(self):
         filter_deps_specs = self.parse_filter_deps()
 
         for key in DEPENDENCY_PARAMETERS:
-            # loop over a *copy* of dependency dicts (with resolved templates);
-            deps = self[key]
+            # loop over a *copy* of dependency dicts with resolved templates,
+            # although some templates may not resolve yet (e.g. those relying on dependencies like %(pyver)s)
+            deps = resolve_template(self.get_ref(key), self.template_values, expect_resolved=False)
 
             # to update the original dep dict, we need to get a reference with templating disabled...
             deps_ref = self.get_ref(key)
@@ -1833,7 +1834,8 @@ def asdict(self):
             if self.enable_templating:
                 if not self.template_values:
                     self.generate_template_values()
-                value = resolve_template(value, self.template_values)
+                # Not all values can be resolved, e.g. %(installdir)s
+                value = resolve_template(value, self.template_values, expect_resolved=False)
             res[key] = value
         return res
 
@@ -1968,10 +1970,11 @@ def get_module_path(name, generic=None, decode=True):
     return '.'.join(modpath + [module_name])
 
 
-def resolve_template(value, tmpl_dict):
+def resolve_template(value, tmpl_dict, expect_resolved=True):
     """Given a value, try to susbstitute the templated strings with actual values.
         - value: some python object (supported are string, tuple/list, dict or some mix thereof)
         - tmpl_dict: template dictionary
+        - expect_resolved: Expects that all templates get resolved
     """
     if isinstance(value, str):
         # simple escaping, making all '%foo', '%%foo', '%%%foo' post-templates values available,
@@ -2002,12 +2005,14 @@ def resolve_template(value, tmpl_dict):
             try:
                 value = value % tmpl_dict
             except KeyError:
-                msg = ('Failed to resolve template value %s with dict %s. ' % (value, tmpl_dict) +
-                       'This might cause failures or unexpected behavior, check for correct escaping if this is intended!')
-                if build_option('allow_unresolved_templates'):
-                    print_warning(msg)
-                else:
-                    raise EasyBuildError(msg)
+                if expect_resolved:
+                    msg = (f'Failed to resolve template value {value} with dict {tmpl_dict}. '
+                           'This might cause failures or unexpected behavior, '
+                           'check for correct escaping if this is intended!')
+                    if build_option('allow_unresolved_templates'):
+                        print_warning(msg)
+                    else:
+                        raise EasyBuildError(msg)
     else:
         # this block deals with references to objects and returns other references
         # for reading this is ok, but for self['x'] = {}
@@ -2021,11 +2026,12 @@ def resolve_template(value, tmpl_dict):
         # self._config['x']['y'] = z
         # it can not be intercepted with __setitem__ because the set is done at a deeper level
         if isinstance(value, list):
-            value = [resolve_template(val, tmpl_dict) for val in value]
+            value = [resolve_template(val, tmpl_dict, expect_resolved) for val in value]
         elif isinstance(value, tuple):
-            value = tuple(resolve_template(list(value), tmpl_dict))
+            value = tuple(resolve_template(list(value), tmpl_dict, expect_resolved))
         elif isinstance(value, dict):
-            value = {resolve_template(k, tmpl_dict): resolve_template(v, tmpl_dict) for k, v in value.items()}
+            value = {resolve_template(k, tmpl_dict, expect_resolved): resolve_template(v, tmpl_dict, expect_resolved)
+                     for k, v in value.items()}
 
     return value
 
diff --git a/easybuild/framework/extension.py b/easybuild/framework/extension.py
index c6020706d5..fa714af2b9 100644
--- a/easybuild/framework/extension.py
+++ b/easybuild/framework/extension.py
@@ -128,7 +128,10 @@ def __init__(self, mself, ext, extra_params=None):
         self.src = resolve_template(self.ext.get('src', []), self.cfg.template_values)
         self.src_extract_cmd = self.ext.get('extract_cmd', None)
         self.patches = resolve_template(self.ext.get('patches', []), self.cfg.template_values)
-        self.options = resolve_template(copy.deepcopy(self.ext.get('options', {})), self.cfg.template_values)
+        # Some options may not be resolvable yet
+        self.options = resolve_template(copy.deepcopy(self.ext.get('options', {})),
+                                        self.cfg.template_values,
+                                        expect_resolved=False)
 
         if extra_params:
             self.cfg.extend_params(extra_params, overwrite=False)