diff --git a/CHANGELOG.md b/CHANGELOG.md
index d14e24e..4eb2bbb 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,33 @@
 # Changelog
 
+## 0.5.0
+
+**Release date:** 2021-02-12
+
+Alpine has been updated to `3.13`, making it possible to move away from `edge`
+for `libgit2` and `musl` dependencies.
+
+`pprof` endpoints have been enabled on the metrics server, making it easier to
+collect runtime information to for example debug performance issues.
+
+A bug has been fixed that caused SSH authentication for the `libgit2` Git
+implementation to fail.
+
+Improvements:
+* Enable pprof endpoints on metrics server
+  [#104](https://github.com/fluxcd/image-automation-controller/pull/104)
+* Update Alpine to v3.13
+  [#105](https://github.com/fluxcd/image-automation-controller/pull/105)
+* Use musl and libgit2 packages from v3.13 branch
+  [#107](https://github.com/fluxcd/image-automation-controller/pull/107)
+* Update kyaml to v0.10.9
+  [#108](https://github.com/fluxcd/image-automation-controller/pull/108)
+
+Fixes:
+* Test git over SSH too, and correct hard-wired implementation causing
+  SSH/libgit2 problems
+  [#109](https://github.com/fluxcd/image-automation-controller/pull/109)
+
 ## 0.4.0
 
 **Release date:** 2021-01-22
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index c89fec1..4e9752a 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
 - name: fluxcd/image-automation-controller
   newName: fluxcd/image-automation-controller
-  newTag: v0.4.0
+  newTag: v0.5.0
diff --git a/go.mod b/go.mod
index f9bd4ab..250e283 100644
--- a/go.mod
+++ b/go.mod
@@ -8,8 +8,8 @@ replace github.com/fluxcd/image-automation-controller/api => ./api
 replace gopkg.in/yaml.v3 => gopkg.in/yaml.v3 v3.0.0-20200313102051-9f266ea9e77c
 
 require (
-	github.com/fluxcd/image-automation-controller/api v0.4.0
-	github.com/fluxcd/image-reflector-controller/api v0.4.0
+	github.com/fluxcd/image-automation-controller/api v0.5.0
+	github.com/fluxcd/image-reflector-controller/api v0.6.0
 	github.com/fluxcd/pkg/apis/meta v0.8.0
 	github.com/fluxcd/pkg/gittestserver v0.2.1
 	github.com/fluxcd/pkg/runtime v0.8.1
diff --git a/go.sum b/go.sum
index cb5ae78..92524f9 100644
--- a/go.sum
+++ b/go.sum
@@ -302,8 +302,8 @@ github.com/exponent-io/jsonpath v0.0.0-20151013193312-d6023ce2651d/go.mod h1:ZZM
 github.com/fatih/camelcase v1.0.0/go.mod h1:yN2Sb0lFhZJUdVvtELVWefmrXpuZESvPmqwoZc+/fpc=
 github.com/fatih/color v1.7.0/go.mod h1:Zm6kSWBoL9eyXnKyktHP6abPY2pDugNf5KwzbycvMj4=
 github.com/fatih/color v1.9.0/go.mod h1:eQcE1qtQxscV5RaZvpXrrb8Drkc3/DdQ+uUYCNjL+zU=
-github.com/fluxcd/image-reflector-controller/api v0.4.0 h1:/7mxmTsjmwmzTchWG06FaTki4hbN4qrVXdT5l/Yio5A=
-github.com/fluxcd/image-reflector-controller/api v0.4.0/go.mod h1:MS3mGjZLnzZsfSqVLGbp0WNJr/k8XRFpw4G6ApLFTbc=
+github.com/fluxcd/image-reflector-controller/api v0.6.0 h1:M62HPqw2UvFRVNKy0EMtNUJC9BJ6HC3VULnV0gnqlpg=
+github.com/fluxcd/image-reflector-controller/api v0.6.0/go.mod h1:MS3mGjZLnzZsfSqVLGbp0WNJr/k8XRFpw4G6ApLFTbc=
 github.com/fluxcd/pkg/apis/meta v0.7.0/go.mod h1:yHuY8kyGHYz22I0jQzqMMGCcHViuzC/WPdo9Gisk8Po=
 github.com/fluxcd/pkg/apis/meta v0.8.0 h1:wqWpUsxhKHB1ZztcvOz+vnyhdKW9cWmjFp8Vci/XOdk=
 github.com/fluxcd/pkg/apis/meta v0.8.0/go.mod h1:yHuY8kyGHYz22I0jQzqMMGCcHViuzC/WPdo9Gisk8Po=