diff --git a/charts/gha-runner-scale-set-controller/Chart.yaml b/charts/gha-runner-scale-set-controller/Chart.yaml
index b0326c26..39fd3179 100644
--- a/charts/gha-runner-scale-set-controller/Chart.yaml
+++ b/charts/gha-runner-scale-set-controller/Chart.yaml
@@ -15,13 +15,13 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 0.4.0
+version: 0.5.0
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
 # follow Semantic Versioning. They should reflect the version the application is using.
 # It is recommended to use it with quotes.
-appVersion: "0.4.0"
+appVersion: "0.5.0"
 
 home: https://github.com/actions/actions-runner-controller
 
diff --git a/charts/gha-runner-scale-set/Chart.yaml b/charts/gha-runner-scale-set/Chart.yaml
index 8a13eff2..54f64958 100644
--- a/charts/gha-runner-scale-set/Chart.yaml
+++ b/charts/gha-runner-scale-set/Chart.yaml
@@ -15,13 +15,13 @@ type: application
 # This is the chart version. This version number should be incremented each time you make changes
 # to the chart and its templates, including the app version.
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
-version: 0.4.0
+version: 0.5.0
 
 # This is the version number of the application being deployed. This version number should be
 # incremented each time you make changes to the application. Versions are not expected to
 # follow Semantic Versioning. They should reflect the version the application is using.
 # It is recommended to use it with quotes.
-appVersion: "0.4.0"
+appVersion: "0.5.0"
 
 home: https://github.com/actions/dev-arc
 
diff --git a/docs/gha-runner-scale-set-controller/README.md b/docs/gha-runner-scale-set-controller/README.md
index 547930ac..bbbfa60b 100644
--- a/docs/gha-runner-scale-set-controller/README.md
+++ b/docs/gha-runner-scale-set-controller/README.md
@@ -63,6 +63,7 @@ You can follow [this troubleshooting guide](https://docs.github.com/en/actions/h
 1. chore(deps): bump github.com/stretchr/testify from 1.8.2 to 1.8.4 [#2716](https://github.com/actions/actions-runner-controller/pull/2716)
 1. Move gha-* docs out of preview [#2779](https://github.com/actions/actions-runner-controller/pull/2779)
 1. Prepare 0.5.0 release [#2783](https://github.com/actions/actions-runner-controller/pull/2783)
+1. Security fix [#2676](https://github.com/actions/actions-runner-controller/pull/2676)
 
 ### v0.4.0