diff --git a/administrator/manifests/files/joomla.xml b/administrator/manifests/files/joomla.xml
index e5107aefcd9d3..508fcb9c6e05f 100644
--- a/administrator/manifests/files/joomla.xml
+++ b/administrator/manifests/files/joomla.xml
@@ -6,7 +6,7 @@
 	<authorUrl>www.joomla.org</authorUrl>
 	<copyright>(C) 2019 Open Source Matters, Inc.</copyright>
 	<license>GNU General Public License version 2 or later; see LICENSE.txt</license>
-	<version>5.0.1-rc1</version>
+	<version>5.0.1-rc2-dev</version>
 	<creationDate>2023-11</creationDate>
 	<description>FILES_JOOMLA_XML_DESCRIPTION</description>
 
diff --git a/libraries/src/Version.php b/libraries/src/Version.php
index 18b0d98da07a7..b5dd87842410c 100644
--- a/libraries/src/Version.php
+++ b/libraries/src/Version.php
@@ -66,7 +66,7 @@ final class Version
      * @var    string
      * @since  3.8.0
      */
-    public const EXTRA_VERSION = 'rc1';
+    public const EXTRA_VERSION = 'rc2-dev';
 
     /**
      * Development status.
@@ -74,7 +74,7 @@ final class Version
      * @var    string
      * @since  3.5
      */
-    public const DEV_STATUS = 'Release Candidate';
+    public const DEV_STATUS = 'Development';
 
     /**
      * Code name.
@@ -98,7 +98,7 @@ final class Version
      * @var    string
      * @since  3.5
      */
-    public const RELTIME = '14:41';
+    public const RELTIME = '14:48';
 
     /**
      * Release timezone.