diff --git a/example/DllLoader/DllLoader.cpp b/example/DllLoader/DllLoader.cpp
index dc22ac4..973f5b4 100644
--- a/example/DllLoader/DllLoader.cpp
+++ b/example/DllLoader/DllLoader.cpp
@@ -130,11 +130,161 @@ exit:
     free(data);
 }
 
+#define MAX_CALLS 20
+
+struct CallList {
+    int current_alloc_call, current_free_call;
+    CustomAllocFunc alloc_calls[MAX_CALLS];
+    CustomFreeFunc free_calls[MAX_CALLS];
+};
+
+LPVOID MemoryFailingAlloc(LPVOID address, SIZE_T size, DWORD allocationType, DWORD protect, void* userdata)
+{
+    UNREFERENCED_PARAMETER(address);
+    UNREFERENCED_PARAMETER(size);
+    UNREFERENCED_PARAMETER(allocationType);
+    UNREFERENCED_PARAMETER(protect);
+    UNREFERENCED_PARAMETER(userdata);
+    return NULL;
+}
+
+LPVOID MemoryMockAlloc(LPVOID address, SIZE_T size, DWORD allocationType, DWORD protect, void* userdata)
+{
+    CallList* calls = (CallList*)userdata;
+    CustomAllocFunc current_func = calls->alloc_calls[calls->current_alloc_call++];
+    assert(current_func != NULL);
+    return current_func(address, size, allocationType, protect, NULL);
+}
+
+BOOL MemoryMockFree(LPVOID lpAddress, SIZE_T dwSize, DWORD dwFreeType, void* userdata)
+{
+    CallList* calls = (CallList*)userdata;
+    CustomFreeFunc current_func = calls->free_calls[calls->current_free_call++];
+    assert(current_func != NULL);
+    return current_func(lpAddress, dwSize, dwFreeType, NULL);
+}
+
+void InitFuncs(void** funcs, va_list args) {
+    for (int i = 0; ; i++) {
+        assert(i < MAX_CALLS);
+        funcs[i] = va_arg(args, void*);
+        if (funcs[i] == NULL) break;
+    }
+}
+
+void InitAllocFuncs(CallList* calls, ...) {
+    va_list args;
+    va_start(args, calls);
+    InitFuncs((void**)calls->alloc_calls, args);
+    va_end(args);
+    calls->current_alloc_call = 0;
+}
+
+void InitFreeFuncs(CallList* calls, ...) {
+    va_list args;
+    va_start(args, calls);
+    InitFuncs((void**)calls->free_calls, args);
+    va_end(args);
+    calls->current_free_call = 0;
+}
+
+void InitFreeFunc(CallList* calls, CustomFreeFunc freeFunc) {
+	for (int i = 0; i < MAX_CALLS; i++) {
+		calls->free_calls[i] = freeFunc;
+	}
+	calls->current_free_call = 0;
+}
+
+void TestFailingAllocation(void *data, long size) {
+    CallList expected_calls;
+    HMEMORYMODULE handle;
+
+    InitAllocFuncs(&expected_calls, MemoryFailingAlloc, MemoryFailingAlloc, NULL);
+    InitFreeFuncs(&expected_calls, NULL);
+
+    handle = MemoryLoadLibraryEx(
+        data, size, MemoryMockAlloc, MemoryMockFree, MemoryDefaultLoadLibrary,
+        MemoryDefaultGetProcAddress, MemoryDefaultFreeLibrary, &expected_calls);
+
+    assert(handle == NULL);
+    assert(GetLastError() == ERROR_OUTOFMEMORY);
+    assert(expected_calls.current_free_call == 0);
+
+    MemoryFreeLibrary(handle);
+    assert(expected_calls.current_free_call == 0);
+}
+
+void TestCleanupAfterFailingAllocation(void *data, long size) {
+    CallList expected_calls;
+    HMEMORYMODULE handle;
+    int free_calls_after_loading;
+
+    InitAllocFuncs(&expected_calls,
+        MemoryDefaultAlloc,
+        MemoryDefaultAlloc,
+        MemoryDefaultAlloc,
+        MemoryDefaultAlloc,
+        MemoryFailingAlloc,
+        NULL);
+    InitFreeFuncs(&expected_calls, MemoryDefaultFree, NULL);
+
+    handle = MemoryLoadLibraryEx(
+        data, size, MemoryMockAlloc, MemoryMockFree, MemoryDefaultLoadLibrary,
+        MemoryDefaultGetProcAddress, MemoryDefaultFreeLibrary, &expected_calls);
+
+    free_calls_after_loading = expected_calls.current_free_call;
+
+    MemoryFreeLibrary(handle);
+    assert(expected_calls.current_free_call == free_calls_after_loading);
+}
+
+void TestFreeAfterDefaultAlloc(void *data, long size) {
+    CallList expected_calls;
+    HMEMORYMODULE handle;
+    int free_calls_after_loading;
+
+	// Note: free might get called internally multiple times
+    InitFreeFunc(&expected_calls, MemoryDefaultFree);
+
+    handle = MemoryLoadLibraryEx(
+        data, size, MemoryDefaultAlloc, MemoryMockFree, MemoryDefaultLoadLibrary,
+        MemoryDefaultGetProcAddress, MemoryDefaultFreeLibrary, &expected_calls);
+
+    assert(handle != NULL);
+    free_calls_after_loading = expected_calls.current_free_call;
+
+    MemoryFreeLibrary(handle);
+    assert(expected_calls.current_free_call == free_calls_after_loading + 1);
+}
+
+void TestCustomAllocAndFree(void)
+{
+    void *data;
+    long size;
+
+    data = ReadLibrary(&size);
+    if (data == NULL)
+    {
+        return;
+    }
+
+    _tprintf(_T("Test MemoryLoadLibraryEx after initially failing allocation function\n"));
+    TestFailingAllocation(data, size);
+    _tprintf(_T("Test cleanup after MemoryLoadLibraryEx with failing allocation function\n"));
+    TestCleanupAfterFailingAllocation(data, size);
+    _tprintf(_T("Test custom free function after MemoryLoadLibraryEx\n"));
+    TestFreeAfterDefaultAlloc(data, size);
+
+    free(data);
+}
+
 int main()
 {
     LoadFromFile();
     printf("\n\n");
     LoadFromMemory();
+    printf("\n\n");
+    TestCustomAllocAndFree();
     return 0;
 }