diff --git a/CHANGELOG.md b/CHANGELOG.md
index 97d0f626..8f36a597 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,16 @@
 # Optimizely Python SDK Changelog
 
+## 5.7.0
+September 2nd, 2026
+
+### New Features
+
+**Holdout Targeted Delivery Exclusion**: Holdouts can now be configured to exclude Targeted Delivery rules, so users held out of experiments still receive their Targeted Delivery experiences. This gives you a cleaner measure of experiment impact without holding users back from ongoing rollouts.
+
+- Add holdout exclusion logic for Targeted Delivery rules ([#522](https://github.com/optimizely/python-sdk/pull/522))
+
+---
+
 ## 5.6.0
 July 10th, 2026
 
diff --git a/optimizely/version.py b/optimizely/version.py
index d9d9718e..88def819 100644
--- a/optimizely/version.py
+++ b/optimizely/version.py
@@ -11,5 +11,5 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 
-version_info = (5, 6, 0)
+version_info = (5, 7, 0)
 __version__ = '.'.join(str(v) for v in version_info)