diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 99bcbe2..45e8f48 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-    ".": "5.3.1"
+    ".": "5.4.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index c799430..ba90672 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,18 @@
 # Changelog
 
+## [5.4.0](https://github.com/Flagsmith/flagsmith-python-client/compare/v5.3.1...v5.4.0) (2026-06-01)
+
+### Features
+
+- experimentation surface — track_event, track_exposure_event, get_experiment_flag
+  ([#220](https://github.com/Flagsmith/flagsmith-python-client/issues/220))
+  ([7307b83](https://github.com/Flagsmith/flagsmith-python-client/commit/7307b835b65d100ccb753fec5b89d68a7d86f999))
+
+### CI
+
+- pre-commit autoupdate ([#216](https://github.com/Flagsmith/flagsmith-python-client/issues/216))
+  ([57dc7f4](https://github.com/Flagsmith/flagsmith-python-client/commit/57dc7f4ec6471949e12eba2ed9e17bd8b2dc7609))
+
 ## [5.3.1](https://github.com/Flagsmith/flagsmith-python-client/compare/v5.3.0...v5.3.1) (2026-05-06)
 
 ### CI
diff --git a/pyproject.toml b/pyproject.toml
index 6852b37..1d3b257 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "flagsmith"
-version = "5.3.1"
+version = "5.4.0"
 description = "Flagsmith Python SDK"
 authors = ["Flagsmith <support@flagsmith.com>"]
 license = "BSD3"