diff --git a/pygbl/elf.py b/pygbl/elf.py
index 77996e3..53df6cf 100644
--- a/pygbl/elf.py
+++ b/pygbl/elf.py
@@ -30,6 +30,9 @@
 
 GBL3_SPEC_VERSION = 3
 
+ERASED_FLASH = b"\xff"
+MAX_IMAGE_SIZE = 100 * 1024 * 1024
+
 
 @dataclasses.dataclass(frozen=True)
 class LoadableSegment:
@@ -62,6 +65,26 @@ def _loadable_segments(elf: ELFFile) -> list[LoadableSegment]:
     return merged
 
 
+def _flatten(segments: list[LoadableSegment]) -> LoadableSegment:
+    """Collapse segments into the single run they occupy in flash."""
+    address = min(segment.address for segment in segments)
+    end = max(segment.address + len(segment.data) for segment in segments)
+
+    if end - address > MAX_IMAGE_SIZE:
+        raise ParseError(
+            f"Segments span {end - address} bytes, more than the"
+            f" {MAX_IMAGE_SIZE} byte limit"
+        )
+
+    image = bytearray(ERASED_FLASH * (end - address))
+
+    for segment in segments:
+        offset = segment.address - address
+        image[offset : offset + len(segment.data)] = segment.data
+
+    return LoadableSegment(address=address, data=bytes(image))
+
+
 def _application_properties(elf: ELFFile) -> bytes:
     symtab = elf.get_section_by_name(".symtab")
 
@@ -151,14 +174,10 @@ def build_bootloader_gbl3(
 ) -> GBL3Image:
     """Build a bootloader GBL from a linked ELF."""
     elf = ELFFile(elf_file)
-    segments = _loadable_segments(elf)
-
-    if len(segments) != 1:
-        raise ParseError(
-            f"Expected one contiguous bootloader segment, got {len(segments)}"
-        )
 
-    segment = segments[0]
+    # Unlike an application, a bootloader is programmed as one flash image, so the
+    # alignment holes between segments are filled rather than kept as separate runs.
+    segment = _flatten(_loadable_segments(elf))
     tags: list[GBL3TagBase] = [
         GBL3Header(version=GBL3_SPEC_VERSION, type=GBL3Type.NONE),
         GBL3Bootloader(
diff --git a/tests/files/yellow_bootloader.out b/tests/files/yellow_bootloader.out
new file mode 100755
index 0000000..60be935
Binary files /dev/null and b/tests/files/yellow_bootloader.out differ
diff --git a/tests/files/yellow_bootloader_commander.gbl b/tests/files/yellow_bootloader_commander.gbl
new file mode 100644
index 0000000..ff09590
Binary files /dev/null and b/tests/files/yellow_bootloader_commander.gbl differ
diff --git a/tests/files/yellow_bootloader_metadata.json b/tests/files/yellow_bootloader_metadata.json
new file mode 100644
index 0000000..6fbe52c
--- /dev/null
+++ b/tests/files/yellow_bootloader_metadata.json
@@ -0,0 +1 @@
+{"baudrate": 115200, "fw_type": "gecko-bootloader", "fw_variant": null, "gecko_bootloader_version": "3.2.0", "metadata_version": 2, "sdk_version": "2026.6.1"}
\ No newline at end of file
diff --git a/tests/test_elf.py b/tests/test_elf.py
index e0415a8..39be04c 100644
--- a/tests/test_elf.py
+++ b/tests/test_elf.py
@@ -37,7 +37,13 @@
     read_encryption_key,
     read_loadable_segments,
 )
-from pygbl.elf import APP_PROPERTIES_MAGIC
+from pygbl.elf import (
+    APP_PROPERTIES_MAGIC,
+    ERASED_FLASH,
+    MAX_IMAGE_SIZE,
+    LoadableSegment,
+    _flatten,
+)
 
 FILES = pathlib.Path(__file__).parent / "files"
 
@@ -45,6 +51,9 @@
 APPLICATION = "yellow_openthread_rcp"
 BOOTLOADER = "zbt2_bootloader"
 
+# MG21 aligns `.text` past the 308 byte vector table, leaving a four byte hole
+SPLIT_BOOTLOADER = "yellow_bootloader"
+
 ELVES = sorted(p.stem for p in FILES.glob("*.out"))
 
 if not ELVES:
@@ -238,11 +247,40 @@ def test_bootloader_payload_carries_its_own_crc() -> None:
     assert bootloader.address == segments[0].address
 
 
-def test_bootloader_builder_rejects_split_images() -> None:
-    """An application ELF has several separate runs, so it is not a bootloader."""
-    with elf_path(APPLICATION).open("rb") as f:
-        with pytest.raises(ParseError, match="one contiguous bootloader segment"):
-            build_bootloader_gbl3(f)
+def test_bootloader_holes_are_filled_with_erased_flash() -> None:
+    """A bootloader is one flash image, so gaps between segments become `0xFF`."""
+    with elf_path(SPLIT_BOOTLOADER).open("rb") as f:
+        segments = read_loadable_segments(f)
+
+    with elf_path(SPLIT_BOOTLOADER).open("rb") as f:
+        bootloader = build_bootloader_gbl3(f).get_first_tag(GBL3Bootloader)
+
+    assert len(segments) > 1
+
+    payload = bootloader.data[:-4]
+    hole = slice(
+        segments[0].address + len(segments[0].data) - bootloader.address,
+        segments[1].address - bootloader.address,
+    )
+
+    assert hole.stop > hole.start
+    assert payload[hole] == ERASED_FLASH * (hole.stop - hole.start)
+
+    # Everything else is the segments themselves, laid down at their own addresses
+    for segment in segments:
+        offset = segment.address - bootloader.address
+        assert payload[offset : offset + len(segment.data)] == segment.data
+
+
+def test_flatten_rejects_an_absurd_span() -> None:
+    """Bail out before allocating the buffer, not after."""
+    segments = [
+        LoadableSegment(address=0, data=b"\x00"),
+        LoadableSegment(address=MAX_IMAGE_SIZE, data=b"\x00"),
+    ]
+
+    with pytest.raises(ParseError, match="more than the"):
+        _flatten(segments)
 
 
 def test_rejects_non_elf_input() -> None: