diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6e19db18..f2e3b06e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,5 @@
 ---
-last_commit_released: 2975deb528c9eec73c76cf8bb53fc8780f31de45
+last_commit_released: e1ead2414b7d5f0ee893931bb31fe25356b4f334
 pre_release: rc
 name: reactivex
 updaters:
@@ -16,6 +16,14 @@ conventional-commit messages.
 PyPI uses PEP 440 (`5.0.0rc1`), while ShipIt records SemVer (`5.0.0-rc.1`) in
 this file; the release script normalizes between them.
 
+## 5.0.0-rc.2 - 2026-05-09
+
+### 🐞 Bug Fixes
+
+* *(operators)* Reset retry budget per subscription to fix retry+repeat (#765) ([c3f19d5e](https://github.com/dont-see-big-shark/RxPY/commit/c3f19d5e83403f70d44331daf0b5a86d410f76d4))
+
+<strong><small>[View changes on Github](https://github.com/dont-see-big-shark/RxPY/compare/2975deb528c9eec73c76cf8bb53fc8780f31de45..e1ead2414b7d5f0ee893931bb31fe25356b4f334)</small></strong>
+
 ## 5.0.0-rc.1 - 2026-04-20
 
 <strong><small>[View changes on Github](https://github.com/ReactiveX/RxPY/compare/8b59bc7394f1b6a8a78e2fc4b5efe200d4f47f89..2975deb528c9eec73c76cf8bb53fc8780f31de45)</small></strong>
diff --git a/pyproject.toml b/pyproject.toml
index 0a8a64ab..60ffe1b3 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "reactivex"
-version = "5.0.0rc1"
+version = "5.0.0rc2"
 description = "ReactiveX (Rx) for Python"
 authors = [{ name = "Dag Brattli", email = "dag@brattli.net" }]
 requires-python = ">= 3.10, < 4.0"
diff --git a/reactivex/_version.py b/reactivex/_version.py
index da4a7471..7ad082e2 100644
--- a/reactivex/_version.py
+++ b/reactivex/_version.py
@@ -1 +1 @@
-__version__ = "5.0.0rc1"
+__version__ = "5.0.0rc2"