diff --git a/CHANGELOG.md b/CHANGELOG.md
index a552bd3..ba0787f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,11 +5,11 @@ All notable changes to this project will be documented in this file.
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.1.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
-## [Unreleased]
+## [0.5.0] - 2026-08-24
 
 ### Changed
 
-- Update scripts and analysis for August forecast projection. ([@ezuetell](https://github.com/ezuetell), [PR#23](https://github.com/ClimateImpactLab/poreallas/pull/23))
+- Update scripts and analysis for preliminary August forecast projection. ([@ezuetell](https://github.com/ezuetell), [PR#23](https://github.com/ClimateImpactLab/poreallas/pull/23))
 
 ## [0.4.0] - 2026-08-22
 
@@ -37,7 +37,7 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 - Initial running prototype.
 
-[Unreleased]: https://github.com/climateimpactlab/poreallas/compare/v0.4.0...HEAD
+[0.5.0]: https://github.com/climateimpactlab/poreallas/compare/v0.4.0...v0.5.0
 [0.4.0]: https://github.com/climateimpactlab/poreallas/compare/v0.3.0...v0.4.0
 [0.3.0]: https://github.com/climateimpactlab/poreallas/compare/v0.2.0...v0.3.0
 [0.2.0]: https://github.com/climateimpactlab/poreallas/compare/v0.1.0...v0.2.0
diff --git a/pyproject.toml b/pyproject.toml
index ee024cf..f5e7680 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "poreallas"
-version = "0.4.0"
+version = "0.5.0"
 description = "Add your description here"
 readme = "README.md"
 authors = [
diff --git a/uv.lock b/uv.lock
index 73b2b7d..0452e32 100644
--- a/uv.lock
+++ b/uv.lock
@@ -2066,7 +2066,7 @@ wheels = [
 
 [[package]]
 name = "poreallas"
-version = "0.4.0"
+version = "0.5.0"
 source = { editable = "." }
 dependencies = [
     { name = "cdsapi" },