Change of PIC addressing when using -flto with -fPIC

When using "-fPIC -msingle-pic-base" the data is addressed relative to R9 as expected. But when adding "-flto" compile switch, the addressing changes to PC-relative which leads to runtime problems!

Toolchain: 7-2017-q4-major

Source:

int i;

int main(void)
{
  i = 321;
  return(0);
}

Result compiled with "arm-none-eabi-gcc -mthumb -mcpu=cortex-m3 --specs=nosys.specs --specs=nano.specs -g -std=c99 -fPIC -msingle-pic-base -ffunction-sections -fdata-sections test_flto_fPIC.c -o test_flto_fPIC.elf"

000080e8 <main>:
    80e8: b480 push {r7}
    80ea: af00 add r7, sp, #0
    80ec: 4b05 ldr r3, [pc, #20] ; (8104 <main+0x1c>)
    80ee: f859 3003 ldr.w r3, [r9, r3]
    80f2: 461a mov r2, r3
    80f4: f240 1341 movw r3, #321 ; 0x141
    80f8: 6013 str r3, [r2, #0]
    80fa: 2300 movs r3, #0
    80fc: 4618 mov r0, r3
    80fe: 46bd mov sp, r7
    8100: bc80 pop {r7}
    8102: 4770 bx lr
    8104: 0000000c .word 0x0000000c

Result compiled with "arm-none-eabi-gcc -mthumb -mcpu=cortex-m3 --specs=nosys.specs --specs=nano.specs -g -std=c99 -fPIC -msingle-pic-base -flto -ffunction-sections -fdata-sections test_flto_fPIC.c -o test_flto_fPIC.elf"

000080e8 <main>:
    80e8: b480 push {r7}
    80ea: af00 add r7, sp, #0
    80ec: 4b05 ldr r3, [pc, #20] ; (8104 <main+0x1c>)
    80ee: 447b add r3, pc
    80f0: 461a mov r2, r3
    80f2: f240 1341 movw r3, #321 ; 0x141
    80f6: 6013 str r3, [r2, #0]
    80f8: 2300 movs r3, #0
    80fa: 4618 mov r0, r3
    80fc: 46bd mov sp, r7
    80fe: bc80 pop {r7}
    8100: 4770 bx lr
    8102: bf00 nop
    8104: 0001011a .word 0x0001011a