diff --git a/llvm/tools/llvm-objcopy/ELF/ELFObjcopy.cpp b/llvm/tools/llvm-objcopy/ELF/ELFObjcopy.cpp
--- a/llvm/tools/llvm-objcopy/ELF/ELFObjcopy.cpp
+++ b/llvm/tools/llvm-objcopy/ELF/ELFObjcopy.cpp
@@ -173,32 +173,6 @@
   return createStringError(EC, FullMsg.c_str(), std::forward<Ts>(Args)...);
 }
 
-static Error splitDWOToFile(const CopyConfig &Config, const Reader &Reader,
-                            StringRef File, ElfType OutputElfType) {
-  Expected<std::unique_ptr<Object>> DWOFile = Reader.create(false);
-  if (!DWOFile)
-    return DWOFile.takeError();
-
-  auto OnlyKeepDWOPred = [&DWOFile](const SectionBase &Sec) {
-    return onlyKeepDWOPred(**DWOFile, Sec);
-  };
-  if (Error E =
-          (*DWOFile)->removeSections(Config.AllowBrokenLinks, OnlyKeepDWOPred))
-    return E;
-  if (Config.OutputArch) {
-    (*DWOFile)->Machine = Config.OutputArch.getValue().EMachine;
-    (*DWOFile)->OSABI = Config.OutputArch.getValue().OSABI;
-  }
-
-  return writeToFile(File, [&](raw_ostream &OutFile) -> Error {
-    std::unique_ptr<Writer> Writer =
-        createWriter(Config, **DWOFile, OutFile, OutputElfType);
-    if (Error E = Writer->finalize())
-      return E;
-    return Writer->write();
-  });
-}
-
 static Error dumpSectionToFile(StringRef SecName, StringRef Filename,
                                Object &Obj) {
   for (auto &Sec : Obj.sections()) {
@@ -374,7 +348,7 @@
     };
   }
 
-  if (Config.StripDWO || !Config.SplitDWO.empty())
+  if (Config.StripDWO)
     RemovePred = [RemovePred](const SectionBase &Sec) {
       return isDWOSection(Sec) || RemovePred(Sec);
     };
@@ -532,21 +506,22 @@
 // any previous removals. Lastly whether or not something is removed shouldn't
 // depend a) on the order the options occur in or b) on some opaque priority
 // system. The only priority is that keeps/copies overrule removes.
-static Error handleArgs(const CopyConfig &Config, Object &Obj,
-                        const Reader &Reader, ElfType OutputElfType) {
+static Error handleArgs(const CopyConfig &Config, Object &Obj) {
   if (Config.StripSwiftSymbols || Config.KeepUndefined)
     return createStringError(llvm::errc::invalid_argument,
                              "option not supported by llvm-objcopy for ELF");
-  if (!Config.SplitDWO.empty())
-    if (Error E =
-            splitDWOToFile(Config, Reader, Config.SplitDWO, OutputElfType))
-      return E;
 
   if (Config.OutputArch) {
     Obj.Machine = Config.OutputArch.getValue().EMachine;
     Obj.OSABI = Config.OutputArch.getValue().OSABI;
   }
 
+  if (!Config.SplitDWO.empty() && Config.ExtractDWO) {
+    return Obj.removeSections(
+        Config.AllowBrokenLinks,
+        [&Obj](const SectionBase &Sec) { return onlyKeepDWOPred(Obj, Sec); });
+  }
+
   // Dump sections before add/remove for compatibility with GNU objcopy.
   for (StringRef Flag : Config.DumpSection) {
     StringRef SectionName;
@@ -706,7 +681,7 @@
 
   const ElfType OutputElfType =
       getOutputElfType(Config.OutputArch.getValueOr(MachineInfo()));
-  if (Error E = handleArgs(Config, **Obj, Reader, OutputElfType))
+  if (Error E = handleArgs(Config, **Obj))
     return E;
   return writeOutput(Config, **Obj, Out, OutputElfType);
 }
@@ -724,7 +699,7 @@
   // (-B<arch>).
   const ElfType OutputElfType =
       getOutputElfType(Config.OutputArch.getValueOr(MachineInfo()));
-  if (Error E = handleArgs(Config, **Obj, Reader, OutputElfType))
+  if (Error E = handleArgs(Config, **Obj))
     return E;
   return writeOutput(Config, **Obj, Out, OutputElfType);
 }
@@ -741,7 +716,7 @@
       Config.OutputArch ? getOutputElfType(Config.OutputArch.getValue())
                         : getOutputElfType(In);
 
-  if (Error E = handleArgs(Config, **Obj, Reader, OutputElfType))
+  if (Error E = handleArgs(Config, **Obj))
     return createFileError(Config.InputFilename, std::move(E));
 
   if (Error E = writeOutput(Config, **Obj, Out, OutputElfType))
diff --git a/llvm/tools/llvm-objcopy/llvm-objcopy.cpp b/llvm/tools/llvm-objcopy/llvm-objcopy.cpp
--- a/llvm/tools/llvm-objcopy/llvm-objcopy.cpp
+++ b/llvm/tools/llvm-objcopy/llvm-objcopy.cpp
@@ -326,48 +326,77 @@
     Stat.permissions(static_cast<sys::fs::perms>(0777));
   }
 
-  using ProcessRawFn = Error (*)(CopyConfig &, MemoryBuffer &, raw_ostream &);
-  ProcessRawFn ProcessRaw;
-  switch (Config.InputFormat) {
-  case FileFormat::Binary:
-    ProcessRaw = executeObjcopyOnRawBinary;
-    break;
-  case FileFormat::IHex:
-    ProcessRaw = executeObjcopyOnIHex;
-    break;
-  default:
-    ProcessRaw = nullptr;
-  }
+  std::function<Error(raw_ostream & OutFile)> ObjcopyFunc = nullptr;
+
+  OwningBinary<llvm::object::Binary> BinaryHolder;
+  std::unique_ptr<MemoryBuffer> MemoryBufferHolder;
 
-  if (ProcessRaw) {
-    auto BufOrErr = MemoryBuffer::getFileOrSTDIN(Config.InputFilename);
+  if (Config.InputFormat == FileFormat::Binary) {
+    // Handle FileFormat::Binary.
+    ErrorOr<std::unique_ptr<MemoryBuffer>> BufOrErr =
+        MemoryBuffer::getFileOrSTDIN(Config.InputFilename);
     if (!BufOrErr)
       return createFileError(Config.InputFilename, BufOrErr.getError());
+    MemoryBufferHolder = std::move(*BufOrErr);
+
+    ObjcopyFunc = [&](raw_ostream &OutFile) -> Error {
+      return executeObjcopyOnRawBinary(Config, *MemoryBufferHolder, OutFile);
+    };
+  } else if (Config.InputFormat == FileFormat::IHex) {
+    // Handle FileFormat::IHex.
+    ErrorOr<std::unique_ptr<MemoryBuffer>> BufOrErr =
+        MemoryBuffer::getFileOrSTDIN(Config.InputFilename);
+    if (!BufOrErr)
+      return createFileError(Config.InputFilename, BufOrErr.getError());
+    MemoryBufferHolder = std::move(*BufOrErr);
 
-    if (Error E = writeToFile(
-            Config.OutputFilename, [&](raw_ostream &OutFile) -> Error {
-              return ProcessRaw(Config, *BufOrErr->get(), OutFile);
-            }))
-      return E;
+    ObjcopyFunc = [&](raw_ostream &OutFile) -> Error {
+      return executeObjcopyOnIHex(Config, *MemoryBufferHolder, OutFile);
+    };
   } else {
     Expected<OwningBinary<llvm::object::Binary>> BinaryOrErr =
         createBinary(Config.InputFilename);
     if (!BinaryOrErr)
       return createFileError(Config.InputFilename, BinaryOrErr.takeError());
+    BinaryHolder = std::move(*BinaryOrErr);
 
-    if (Archive *Ar = dyn_cast<Archive>(BinaryOrErr.get().getBinary())) {
+    if (Archive *Ar = dyn_cast<Archive>(BinaryHolder.getBinary())) {
+      // Handle Archive.
       if (Error E = executeObjcopyOnArchive(Config, *Ar))
         return E;
     } else {
-      if (Error E = writeToFile(
-              Config.OutputFilename,
-              [&](raw_ostream &OutFile) -> Error {
-                return executeObjcopyOnBinary(
-                    Config, *BinaryOrErr.get().getBinary(), OutFile);
-              },
-              Config.InputFilename != "-" &&
-                  Config.InputFilename == Config.OutputFilename,
-              Stat.getUser(), Stat.getGroup()))
+      // Handle llvm::object::Binary.
+      ObjcopyFunc = [&](raw_ostream &OutFile) -> Error {
+        return executeObjcopyOnBinary(Config, *BinaryHolder.getBinary(),
+                                      OutFile);
+      };
+    }
+  }
+
+  if (ObjcopyFunc) {
+    if (Config.SplitDWO.empty()) {
+      if (Error E =
+              writeToFile(Config.OutputFilename, ObjcopyFunc,
+                          Config.InputFilename != "-" &&
+                              Config.InputFilename == Config.OutputFilename,
+                          Stat.getUser(), Stat.getGroup()))
+        return E;
+    } else {
+      Config.ExtractDWO = true;
+      Config.StripDWO = false;
+      if (Error E =
+              writeToFile(Config.SplitDWO, ObjcopyFunc,
+                          Config.InputFilename != "-" &&
+                              Config.InputFilename == Config.OutputFilename,
+                          Stat.getUser(), Stat.getGroup()))
+        return E;
+      Config.ExtractDWO = false;
+      Config.StripDWO = true;
+      if (Error E =
+              writeToFile(Config.OutputFilename, ObjcopyFunc,
+                          Config.InputFilename != "-" &&
+                              Config.InputFilename == Config.OutputFilename,
+                          Stat.getUser(), Stat.getGroup()))
         return E;
     }
   }