diff --git a/Lib/concurrent/futures/process.py b/Lib/concurrent/futures/process.py
index ff7c17efaab694..574b42928c6dd5 100644
--- a/Lib/concurrent/futures/process.py
+++ b/Lib/concurrent/futures/process.py
@@ -766,6 +766,10 @@ def _start_executor_manager_thread(self):
                 self._executor_manager_thread_wakeup
 
     def _adjust_process_count(self):
+        # gh-132969
+        if self._processes is None:
+            return
+
         # if there's an idle process, we don't need to spawn a new one.
         if self._idle_worker_semaphore.acquire(blocking=False):
             return
diff --git a/Lib/test/test_concurrent_futures/test_shutdown.py b/Lib/test/test_concurrent_futures/test_shutdown.py
index 7a4065afd46fc8..8d30b672d6f4b3 100644
--- a/Lib/test/test_concurrent_futures/test_shutdown.py
+++ b/Lib/test/test_concurrent_futures/test_shutdown.py
@@ -20,6 +20,16 @@ def sleep_and_print(t, msg):
     sys.stdout.flush()
 
 
+def failing_task_132969(n: int) -> int:
+    raise ValueError("failing task")
+
+
+def good_task_132969(n: int) -> int:
+    time.sleep(0.1 * n)
+    return n
+
+
+
 class ExecutorShutdownTest:
     def test_run_after_shutdown(self):
         self.executor.shutdown()
@@ -330,6 +340,43 @@ def test_shutdown_no_wait(self):
         # shutdown.
         assert all([r == abs(v) for r, v in zip(res, range(-5, 5))])
 
+    def _run_test_issue_132969(self, max_workers: int) -> int:
+        # max_workers=2 will repro exception
+        # max_workers=4 will repro exception and then hang
+
+        import multiprocessing as mp
+
+        # Repro conditions
+        #   max_tasks_per_child=1
+        #   a task ends abnormally
+        #   shutdown(wait=False) is called
+        executor = futures.ProcessPoolExecutor(
+                max_workers=max_workers,
+                max_tasks_per_child=1,
+                mp_context=mp.get_context("forkserver"))
+        f1 = executor.submit(good_task_132969, 1)
+        f2 = executor.submit(failing_task_132969, 2)
+        f3 = executor.submit(good_task_132969, 3)
+        result:int = 0
+        try:
+            result += f1.result()
+            result += f2.result()
+            result += f3.result()
+        except ValueError:
+            # stop processing results upon first exception
+            pass
+
+        executor.shutdown(wait=False)
+        return result
+
+    def test_shutdown_len_exception_132969(self):
+        result = self._run_test_issue_132969(2)
+        self.assertEqual(result, 1)
+
+    def test_shutdown_process_hang_132969(self):
+        result = self._run_test_issue_132969(4)
+        self.assertEqual(result, 1)
+
 
 create_executor_tests(globals(), ProcessPoolShutdownTest,
                       executor_mixins=(ProcessPoolForkMixin,
diff --git a/Misc/NEWS.d/next/Library/2025-04-30-18-01-47.gh-issue-132969.EagQ3G.rst b/Misc/NEWS.d/next/Library/2025-04-30-18-01-47.gh-issue-132969.EagQ3G.rst
new file mode 100644
index 00000000000000..d0c89ad1790838
--- /dev/null
+++ b/Misc/NEWS.d/next/Library/2025-04-30-18-01-47.gh-issue-132969.EagQ3G.rst
@@ -0,0 +1 @@
+Fixes error+hang when ProcessPoolExecutor shutdown called with wait=False and a task ended abnormally.