diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index def19384..c07bba10 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,5 +1,5 @@
 {
-    "tket2-py": "0.4.1",
+    "tket2-py": "0.5.0",
     "tket2-eccs": "0.2.0",
     "tket2-exts": "0.1.1"
 }
\ No newline at end of file
diff --git a/tket2-py/CHANGELOG.md b/tket2-py/CHANGELOG.md
index 15805ab5..3ce7f023 100644
--- a/tket2-py/CHANGELOG.md
+++ b/tket2-py/CHANGELOG.md
@@ -1,5 +1,18 @@
 # Changelog
 
+## [0.5.0](https://github.com/CQCL/tket2/compare/tket2-py-v0.4.1...tket2-py-v0.5.0) (2024-11-11)
+
+
+### ⚠ BREAKING CHANGES
+
+* Removed `load_guppy_*` methods. Use Circuit::load_function_reader instead.
+
+### Features
+
+* move extensions to auxillary package ([#682](https://github.com/CQCL/tket2/issues/682)) ([dd78f9a](https://github.com/CQCL/tket2/commit/dd78f9a571905407bcf74131a54f4aefbca740c4))
+* Track circuit extensions and read/write packages ([#680](https://github.com/CQCL/tket2/issues/680)) ([5e87dd9](https://github.com/CQCL/tket2/commit/5e87dd94f216a87f4d27dee44d178578d40e7ace))
+
+
 ## [0.4.1](https://github.com/CQCL/tket2/compare/tket2-py-v0.4.0...tket2-py-v0.4.1) (2024-10-10)
 
 
diff --git a/tket2-py/pyproject.toml b/tket2-py/pyproject.toml
index fb244339..137a7088 100644
--- a/tket2-py/pyproject.toml
+++ b/tket2-py/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "tket2"
-version = "0.4.1"
+version = "0.5.0"
 requires-python = ">=3.10"
 description = "Quantinuum's TKET2 Quantum Compiler"
 license = { file = "LICENCE" }
diff --git a/tket2-py/tket2/__init__.py b/tket2-py/tket2/__init__.py
index 3fcf28cf..24da929f 100644
--- a/tket2-py/tket2/__init__.py
+++ b/tket2-py/tket2/__init__.py
@@ -16,4 +16,4 @@
 
 # This is updated by our release-please workflow, triggered by this
 # annotation: x-release-please-version
-__version__ = "0.4.1"
+__version__ = "0.5.0"