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Thanks for the response. It

Thanks for the response. It looks like FreeImage already sets that flag. But I think I was misunderstanding anyway. I thought that because (for a 12 bit image) the maximum wasn't 0xfff, but was 0xf00 which was then scaled to 0xffff that the data was being discarded. From a closer look at the source it looks like this is just because the black level (0xff) is subtracted.

Therefore it looks like the only way to "recover" the highlights is to use a method similar to libraws recover_highlights method. Unfortunately I need to do this after the data is converted to rgb, and if I understand correctly the recover_highlights method works on all four channels (though I'm not really sure what the variables kc and hsat are, and what the difference between kc and c is, if you could explain this I'd be thankful). Are you aware of any methods that work on 3 channel rgb data?