Fujifilm HDR RAF is a multi-image format that stores several raw images within a single RAF file. In Adobe photography apps such as Camera Raw and Lightroom, the first raw image of the HDR RAF can be viewed and edited like any standard single-image RAF file. The additional images in an HDR RAF can not be viewed or edited.
The minimum versions of Adobe photography apps that support converting HDR RAF files to DNG is given below, with the following caveat: Converting to DNG will discard all but the first raw image in an HDR RAF, unless the option to Embed Original is selected prior to converting to DNG.
In earlier versions of these Adobe photography apps, HDR RAF files cannot be converted to DNG. Also, some features that rely on DNG conversion will not work, such as Enhance Details or editing smart previews.