tce-load -i compiletc libpng-dev

cd freetype-2.8.1

sed -ri "s:.*(AUX_MODULES.*valid):\1:" modules.cfg

sed -r "s:.*(#.*SUBPIXEL_(RENDERING|HINTING 2)) .*:\1:g" -i include/freetype/config/ftoption.h

CC="gcc -flto -fuse-linker-plugin -march=i486 -mtune=i686 -Os -pipe" CXX="g++ -flto -fuse-linker-plugin -march=i486 -mtune=i686 -Os -pipe -fno-exceptions -fno-rtti" ./configure --prefix=/usr/local --localstatedir=/var --disable-static --with-bzip2=no --with-harfbuzz=no

find . -name unix-cc.mk -type f -exec sed -i 's/-g -O2//g' {} \;

make
sudo make install

Library configuration:
  external zlib: yes (pkg-config)
  bzip2:         no
  libpng:        yes (pkg-config)
  harfbuzz:      no