diff --git a/CMakeLists.txt b/CMakeLists.txt
index ecacaf561abbf7ff2d74d2e74cabe7dc69afbbd6..a7437d4996cb59dade3326daddbb6b1ca5c99195 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@
 
 cmake_minimum_required(VERSION 3.15)
 
-project(Rec VERSION 38.11
+project(Rec VERSION 38.12
 	LANGUAGES CXX)
 
 # Enable testing with CTest/CDash
diff --git a/ReleaseNotes/v38r12.md b/ReleaseNotes/v38r12.md
new file mode 100644
index 0000000000000000000000000000000000000000..9c912d2de3354733bd5b9f7d71fc27ca28b93e33
--- /dev/null
+++ b/ReleaseNotes/v38r12.md
@@ -0,0 +1,37 @@
+2025-09-09 Rec v38r12
+===
+
+This version uses
+Lbcom [v37r12](../../../../Lbcom/-/tags/v37r12),
+LHCb [v57r12](../../../../LHCb/-/tags/v57r12),
+Detector [v3r3p3](../../../../Detector/-/tags/v3r3p3),
+Gaudi [v40r0](../../../../Gaudi/-/tags/v40r0) and
+LCG [106c](http://lcginfo.cern.ch/release/106c/) with ROOT 6.32.10.
+
+This version is released on the `2025-patches` branch.
+Built relative to Rec [v38r11](/../../tags/v38r11), with the following changes:
+
+### New features ~"new feature"
+
+
+
+### Fixes ~"bug fix" ~workaround
+
+- Fix access of ProtoParticle tool to GlobalChargedPIDs for 2025-patches, !4579 (@msaur)
+
+
+### Enhancements ~enhancement
+
+- ~Monitoring ~Conditions | BeamSpotMonitor can track IR conditions produced by third parties, !4564 (@spradlin)
+
+
+### Code cleanups and changes to tests ~modernisation ~cleanup ~testing
+
+
+
+### Documentation ~Documentation
+
+
+### Other
+
+- ~Calo | Add gamma correction to non-cluster ecal energies, !4580 (@mveghel)