diff --git a/CHANGELOG.md b/CHANGELOG.md
index 8077c16..32c7ca5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -9,9 +9,11 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
+## [0.5.0] - 2022-07-01
+
 ### Added
 
-- Add `configs` section to `App` CRD based on RFC: https://github.com/giantswarm/rfc/tree/main/multi-layer-app-config#enhancing-app-cr
+- Add `extraConfigs` section to `App` CRD based on RFC: https://github.com/giantswarm/rfc/tree/main/multi-layer-app-config#enhancing-app-cr
 
 ## [0.4.1] - 2022-06-30
 
@@ -53,7 +55,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - Move existing APIs from `giantswarm/apiextensions` to this repository.
 
 
-[Unreleased]: https://github.com/giantswarm/apiextensions-application/compare/v0.4.1...HEAD
+[Unreleased]: https://github.com/giantswarm/apiextensions-application/compare/v0.5.0...HEAD
+[0.5.0]: https://github.com/giantswarm/apiextensions-application/compare/v0.4.1...v0.5.0
 [0.4.1]: https://github.com/giantswarm/apiextensions-application/compare/v0.4.1...v0.4.1
 [0.4.1]: https://github.com/giantswarm/apiextensions-application/compare/v0.4.0...v0.4.1
 [0.4.0]: https://github.com/giantswarm/apiextensions-application/compare/v0.3.1...v0.4.0