diff --git a/CHANGELOG.md b/CHANGELOG.md
index 067266a27c6..59cdda4f136 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -6,10 +6,61 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 
 ## [Unreleased]
 
-### Changed
+## [1.2.0-rc.2] - 2024-06-26
+
+> TRUE or FALSE, it's a problem!
+
+### Important Notes
 
  * libcontainer/cgroups users who want to manage cgroup devices need to explicitly
    import libcontainer/cgroups/devices. (#3452, #4248)
+ * If building with Go 1.22.x, make sure to use 1.22.4 or a later version.
+   (see #4233 for more details)
+
+### Added
+
+ * CI: add actuated-arm64. (#4142)
+
+### Fixed
+
+ * cgroup v2: do not set swap to 0 or unlimited when it's not available. (#4188)
+ * Set the default value of CpuBurst to nil instead of 0. (#4210, #4211)
+ * runc exec: fix setting rlimit_nofile. (#4195, #4265, #4282, #4290)
+ * libct/cg/fs: fix setting rt_period vs rt_runtime. (#4094, #4258)
+ * script/*: fix gpg usage wrt keyboxd. (#4189)
+ * Fix a debug log message for user namespaces in nsexec. (#4311)
+ * libct/cg: write unified resources line by line. (#4186)
+ * libct.Start: fix locking, do not allow a second container init. (#4271)
+ * Fix tests in debian testing (mount_sshfs.bats). (#4245)
+ * Fix checkpoint/restore tests on actuated-arm64. (#4276)
+ * Fix codespell warnings. (#4291)
+ * libct/cg/dev: fix TestSetV1Allow panic. (#4295)
+ * tests/int/scheduler: require smp. (#4298)
+
+### Changed
+
+ * libcontainer: allow containers to make apps think fips is enabled/disabled for testing. (#4246)
+ * libct/cg/fs: don't write cpu_burst twice on ENOENT. (#4259)
+ * Allow overriding VERSION value in Makefile. (#4269)
+ * Make trimpath optional. (#3908)
+ * Remove unused system.Execv. (#4268)
+ * Stop blacklisting Go 1.22+, drop Go < 1.21 support, use Go 1.22 in CI. (#4292)
+ * Improve some error messages for runc exec. (#4320)
+ * ci/actuated: re-enable CRIU tests. (#4252)
+ * Vagrantfile.fedora: bump Fedora to 39. (#4256)
+ * ci/gha: bump golangci-lint[-action]. (#4255)
+ * tests/int/tty: increase the timeout. (#4260)
+ * [ci] use go mod instead of go get in spec.bats. (#4264)
+ * tests/int/checkpoint: rm double logging. (#4251)
+ * ci/gha: bump golangci-lint-action from 5 to 6. (#4275)
+ * .cirrus.yml: rm FIXME from rootless fs on CentOS 7. (#4279)
+ * vendor: golang.org/x/net@v0.24.0. (#4280)
+ * Dockerfile: bump Debian to 12, Go to 1.21. (#4296)
+ * ci: pin codespell. (#4301)
+ * ci: workaround for centos stream 8 being EOLed. (#4304)
+ * ci/cirrus: rm centos stream 8. (#4307)
+ * ci/gha: switch to ubuntu 24.04. (#4286)
+ * Vagrantfile.fedora: bump to F40. (#4285)
 
 ## [1.2.0-rc.1] - 2024-04-03
 
@@ -708,7 +759,7 @@ implementation (libcontainer) is *not* covered by this policy.
    cgroups at all during `runc update`). (#2994)
 
 <!-- minor releases -->
-[Unreleased]: https://github.com/opencontainers/runc/compare/v1.2.0-rc.1...HEAD
+[Unreleased]: https://github.com/opencontainers/runc/compare/v1.2.0-rc.2...HEAD
 [1.1.0]: https://github.com/opencontainers/runc/compare/v1.1.0-rc.1...v1.1.0
 [1.0.0]: https://github.com/opencontainers/runc/releases/tag/v1.0.0
 
@@ -736,4 +787,5 @@ implementation (libcontainer) is *not* covered by this policy.
 [1.1.0-rc.1]: https://github.com/opencontainers/runc/compare/v1.0.0...v1.1.0-rc.1
 
 <!-- 1.2.z patch releases -->
+[1.2.0-rc.2]: https://github.com/opencontainers/runc/compare/v1.2.0-rc.1...v1.2.0-rc.2
 [1.2.0-rc.1]: https://github.com/opencontainers/runc/compare/v1.1.0...v1.2.0-rc.1
diff --git a/VERSION b/VERSION
index 851e1952c7b..49d540ecf11 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.2.0-rc.1+dev
+1.2.0-rc.2+dev