diff --git a/CHANGELOG.md b/CHANGELOG.md
index f2030f65..4aa394ac 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,24 @@
+0.5.0-RC / 2021-12-24
+===================
+
+This is a release candidate for the next version. In this version, an aggregated report on all projects has been added, 
+and the plugin API has been significantly redesigned. So we ask you to evaluate it and share your feedback on whether 
+the API has become more convenient.
+
+### Features
+* Implemented aggregated multi-project report (#20, #43)
+* Unified coverage agents filters. Now only the characters '*' or '?' are used as wildcards for both IntelliJ and JaCoCo agents. **Regular expressions are no longer supported by the IntelliJ agent as filters of instrumented classes.** (#21)
+* Tasks for verification and reporting for single Gradle project were renamed according to the template like `koverXmlReport` -> `koverXmlProjectReport`
+* The `isEnabled` property has been renamed to `isDisabled` in extensions `KoverExtension` and `KoverTaskExtension` to make their purpose more obvious
+* The term `module` has been replaced with `project` for compatibility with Gradle terminology
+* Added the ability to disable the Kover for the specified Gradle project
+* Made tasks cache relocatable (#85)
+* Upgraded IntelliJ Engine default version to `1.0.640`
+
+### Bugfixes
+* Added property to exclude Android classes from the instrumentation (#89)
+* Kotlin Multiplatform plugin adapter rewritten to use reflection (#100)
+
 v0.4.4 / 2021-11-29
 ===================
 
diff --git a/README.md b/README.md
index 0ae9840c..0dbd16fe 100644
--- a/README.md
+++ b/README.md
@@ -41,7 +41,7 @@ In top level build file
 
 ```kotlin
 plugins {
-     id("org.jetbrains.kotlinx.kover") version "0.4.4"
+     id("org.jetbrains.kotlinx.kover") version "0.5.0-RC"
 }
 ```
 </details>
@@ -51,7 +51,7 @@ plugins {
 
 ```groovy
 plugins {
-    id 'org.jetbrains.kotlinx.kover' version '0.4.4'
+    id 'org.jetbrains.kotlinx.kover' version '0.5.0-RC'
 }
 ```
 </details>
@@ -69,7 +69,7 @@ buildscript {
     }
 
     dependencies {
-        classpath("org.jetbrains.kotlinx:kover:0.4.4")
+        classpath("org.jetbrains.kotlinx:kover:0.5.0-RC")
     }
 }
 
@@ -86,7 +86,7 @@ buildscript {
         mavenCentral()
     }
     dependencies {
-        classpath 'org.jetbrains.kotlinx:kover:0.4.4'
+        classpath 'org.jetbrains.kotlinx:kover:0.5.0-RC'
     }
 }
   
diff --git a/gradle.properties b/gradle.properties
index 147f065e..827618c1 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -1,4 +1,4 @@
-version=0.4.4
+version=0.5.0-RC
 group=org.jetbrains.kotlinx
 
 kotlin.code.style=official
diff --git a/src/functionalTest/kotlin/kotlinx/kover/test/functional/core/Builder.kt b/src/functionalTest/kotlin/kotlinx/kover/test/functional/core/Builder.kt
index 5f80b989..5098e88c 100644
--- a/src/functionalTest/kotlin/kotlinx/kover/test/functional/core/Builder.kt
+++ b/src/functionalTest/kotlin/kotlinx/kover/test/functional/core/Builder.kt
@@ -73,7 +73,7 @@ private class TestCaseBuilderImpl(
             state.engines += null
         }
         if (state.pluginVersion == null) {
-            state.pluginVersion = "0.4.4" // TODO read from properties
+            state.pluginVersion = "0.5.0-RC" // TODO read from properties
         }
 
         val projects: MutableMap<ProjectSlice, File> = mutableMapOf()