diff --git a/slugify/slugify.py b/slugify/slugify.py
index 9b5f27f..ae6eb9b 100644
--- a/slugify/slugify.py
+++ b/slugify/slugify.py
@@ -24,6 +24,20 @@
 DEFAULT_SEPARATOR = '-'
 
 
+def _convert_decimal_reference(match: re.Match[str]) -> str:
+    try:
+        return chr(int(match.group(1)))
+    except (OverflowError, ValueError):
+        return match.group(0)
+
+
+def _convert_hexadecimal_reference(match: re.Match[str]) -> str:
+    try:
+        return chr(int(match.group(1), 16))
+    except (OverflowError, ValueError):
+        return match.group(0)
+
+
 def smart_truncate(
     string: str,
     max_length: int = 0,
@@ -134,17 +148,11 @@ def slugify(
 
     # decimal character reference
     if decimal:
-        try:
-            text = DECIMAL_PATTERN.sub(lambda m: chr(int(m.group(1))), text)
-        except Exception:
-            pass
+        text = DECIMAL_PATTERN.sub(_convert_decimal_reference, text)
 
     # hexadecimal character reference
     if hexadecimal:
-        try:
-            text = HEX_PATTERN.sub(lambda m: chr(int(m.group(1), 16)), text)
-        except Exception:
-            pass
+        text = HEX_PATTERN.sub(_convert_hexadecimal_reference, text)
 
     # re normalize text
     if allow_unicode:
diff --git a/test.py b/test.py
index fcec4b6..9e43934 100644
--- a/test.py
+++ b/test.py
@@ -166,6 +166,11 @@ def test_html_decimal_on(self):
         r = slugify(txt, decimal=True)
         self.assertEqual(r, 'z')
 
+    def test_html_decimal_on_with_invalid_reference(self):
+        txt = 'Ž �'
+        r = slugify(txt, decimal=True)
+        self.assertEqual(r, 'z-9999999999')
+
     def test_html_decimal_off(self):
         txt = 'Ž'
         r = slugify(txt, entities=False, decimal=False)
@@ -176,6 +181,11 @@ def test_html_hexadecimal_on(self):
         r = slugify(txt, hexadecimal=True)
         self.assertEqual(r, 'z')
 
+    def test_html_hexadecimal_on_with_invalid_reference(self):
+        txt = 'Ž �'
+        r = slugify(txt, hexadecimal=True)
+        self.assertEqual(r, 'z-x110000')
+
     def test_html_hexadecimal_off(self):
         txt = 'Ž'
         r = slugify(txt, hexadecimal=False)