diff --git a/CHANGELOG.md b/CHANGELOG.md
index c6aa580d01..24ac3020a5 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,31 @@
 
 <!-- insert new changelog below this comment -->
 
+## [1.2.3] - 2026-10-22
+
+### Changed
+
+- Feat/4913 workflow mcp inventory (#5054)
+- docs: correct built-in workflow step source paths (#5059)
+- fix(events): preserve dispatcher ownership during cleanup (#5055)
+- feat: add .presetignore support (#5020)
+- fix(scripts): write --json output of the Python helpers as ASCII (#5048)
+- Update Linear Weave extension to v1.0.2 (#5049)
+- fix(events): preserve unowned Vibe hooks files (#4646)
+- ci: shorten test runs with two workers and faster fixture shutdown (#5051)
+- fix(powershell): treat bracketed feature paths literally (#4970)
+- fix(cli): align integration guidance with available output (#5041)
+- fix(integrations): map Pi JSON dispatch to --mode json (#5043)
+- docs: organize agent-specific integration documentation (#5034)
+- feat(integration): add none for shared scaffolding only (#5030)
+- fix(extensions): reject malformed catalog entries before removal (#5033)
+- fix(integrations): map Kimi Code JSON dispatch to --output-format stream-json (#5031)
+- docs: streamline README onboarding and process guides (#5029)
+- docs: distinguish extension events from hooks (#5026)
+- fix(workflows): keep integer number inputs exact instead of rounding them (#5027)
+- docs: say how to replace an older install before specify init (#5004)
+- chore: release 1.2.2, begin 1.2.3.dev0 development (#5024)
+
 ## [1.2.2] - 2026-10-19
 
 ### Changed
diff --git a/pyproject.toml b/pyproject.toml
index 7cdecced2e..016211dcde 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "specify-cli"
-version = "1.2.3.dev0"
+version = "1.2.4.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"