diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index cf533f28..32dbe0e2 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "4.0.1"
+  ".": "5.0.0"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 5ff9e5bd..3b0ea242 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -13,6 +13,23 @@
 * drive timeline timing with a virtual clock instead of real timers ([7e5298b](https://github.com/jg-wright/timeline/commit/7e5298be68c27ce1bb0c8c73492e3c2a65d7e112))
 
 
+### Bug Fixes
+
+* ensure outerface is correctly typed ([5c8b70d](https://github.com/jg-wright/timeline/commit/5c8b70dbdce67259fa97b17b4e9a68848453caac))
+
+## [5.0.0](https://github.com/jg-wright/timeline/compare/v4.0.1...v5.0.0) (2026-06-05)
+
+
+### ⚠ BREAKING CHANGES
+
+* `TimelineParsable.parse` and `TimelineItem` constructors now accept a `TimelineItemOptions` argument; custom parsers should forward `options` to super so they share the timeline's clock. `TimelineTimer` is backed by a `Clockable` rather than real wall-clock time.
+
+### Features
+
+* drive timeline timing with a virtual clock instead of real timers ([07b3baf](https://github.com/jg-wright/timeline/commit/07b3baf3ec5a5eb5ffc9447465c98cf3cbce9eb9))
+* drive timeline timing with a virtual clock instead of real timers ([7e5298b](https://github.com/jg-wright/timeline/commit/7e5298be68c27ce1bb0c8c73492e3c2a65d7e112))
+
+
 ### Bug Fixes
 
 * ensure outerface is correctly typed ([5c8b70d](https://github.com/jg-wright/timeline/commit/5c8b70dbdce67259fa97b17b4e9a68848453caac))
diff --git a/package.json b/package.json
index ee54ada1..14eed8de 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@johngw/timeline",
-  "version": "4.0.1",
+  "version": "5.0.0",
   "description": "Parse a stream-like timeline of values",
   "type": "module",
   "sideEffects": false,