diff --git a/CHANGELOG.md b/CHANGELOG.md
index c3d9650e9e..48a1ac9936 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,21 @@
 
 <!-- insert new changelog below this comment -->
 
+## [0.12.0] - 2026-06-29
+
+### Changed
+
+- feat: make agent-context extension a full opt-in (#3097)
+- docs(workflows): add the built-in 'init' step type to the Step Types table (#3234)
+- fix(workflows): gate validate() must not crash on non-string options (#3233)
+- fix(workflows): make pipe-filter detection quote-aware in expressions (#3232)
+- fix(workflows): reject a fan-in wait_for that names an unknown step at validation (#3225)
+- fix(scripts): warn when spec template is missing in create-new-feature.ps1 (parity with bash) (#3230)
+- fix(scripts): count subdirectory-only dirs as non-empty in PowerShell (parity with bash) (#3137)
+- fix(scripts): drop HAS_GIT from PowerShell git-extension output (parity with bash) (#3195)
+- Update Product Spec Extension to v1.0.1 (#3226)
+- chore: release 0.11.10, begin 0.11.11.dev0 development (#3240)
+
 ## [0.11.10] - 2026-06-29
 
 ### Changed
diff --git a/pyproject.toml b/pyproject.toml
index 847bbf7b8e..e5e81fadb7 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "specify-cli"
-version = "0.11.11.dev0"
+version = "0.12.1.dev0"
 description = "Specify CLI, part of GitHub Spec Kit. A tool to bootstrap your projects for Spec-Driven Development (SDD)."
 readme = "README.md"
 requires-python = ">=3.11"