diff --git a/Cargo.lock b/Cargo.lock
index c9868fe281..d6efa7dc00 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1736,9 +1736,9 @@ dependencies = [
 
 [[package]]
 name = "ostree-ext"
-version = "0.12.8"
+version = "0.12.9"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "03d90f7bead205f48d8fe06087a507d7e955e9ea65c7c2c71c410a296b2360f1"
+checksum = "4e267318975f521863d8bae834bdc49876695421428b08e98da379712d675fd1"
 dependencies = [
  "anyhow",
  "async-compression",
diff --git a/configure.ac b/configure.ac
index 0f0fcd3fee..87766596d8 100644
--- a/configure.ac
+++ b/configure.ac
@@ -3,7 +3,7 @@ dnl
 dnl SEE RELEASE.md FOR INSTRUCTIONS ON HOW TO DO A RELEASE.
 dnl
 m4_define([year_version], [2024])
-m4_define([release_version], [1])
+m4_define([release_version], [2])
 m4_define([package_version], [year_version.release_version])
 AC_INIT([rpm-ostree], [package_version], [coreos@lists.fedoraproject.org])
 AC_CONFIG_HEADER([config.h])
diff --git a/packaging/rpm-ostree.spec.in b/packaging/rpm-ostree.spec.in
index 6353faf243..feda9b22c0 100644
--- a/packaging/rpm-ostree.spec.in
+++ b/packaging/rpm-ostree.spec.in
@@ -3,7 +3,7 @@
 
 Summary: Hybrid image/package system
 Name: rpm-ostree
-Version: 2024.1
+Version: 2024.2
 Release: 1%{?dist}
 License: LGPL-2.0-or-later
 URL: https://github.com/coreos/rpm-ostree