diff --git a/wagtail/admin/edit_handlers.py b/wagtail/admin/edit_handlers.py
index b152ed193..e1f3ea2f0 100644
--- a/wagtail/admin/edit_handlers.py
+++ b/wagtail/admin/edit_handlers.py
@@ -64,16 +64,7 @@ def get_form_for_model(
 
 def extract_panel_definitions_from_model_class(model, exclude=None):
     if hasattr(model, 'panels'):
-        panels = model.panels
-
-        if exclude is not None:
-            # Filter out fields in exclude
-            panels = [
-                panel for panel in panels
-                if isinstance(panel, FieldPanel) and panel.field_name not in exclude
-            ]
-
-        return panels
+        return model.panels
 
     panels = []
 
diff --git a/wagtail/admin/tests/test_edit_handlers.py b/wagtail/admin/tests/test_edit_handlers.py
index f637669c9..6b47dee36 100644
--- a/wagtail/admin/tests/test_edit_handlers.py
+++ b/wagtail/admin/tests/test_edit_handlers.py
@@ -209,11 +209,6 @@ class TestExtractPanelDefinitionsFromModelClass(TestCase):
         for panel in panels:
             self.assertNotEqual(panel.field_name, 'hostname')
 
-    def test_exclude_with_defined_panels(self):
-        Site.panels = [FieldPanel('hostname')]
-        panels = extract_panel_definitions_from_model_class(Site, exclude=['hostname'])
-        self.assertEqual([], panels)
-
     def test_can_build_panel_list(self):
         # EventPage has no 'panels' definition, so one should be derived from the field list
         panels = extract_panel_definitions_from_model_class(EventPage)