diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index d77f1259edd9..76b198bfeae0 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,7 +1,7 @@
 {
   "google-ads-ad_manager": "0.1.0",
   "google-ads-ad_manager+FILLER": "0.0.0",
-  "google-ads-ad_manager-v1": "0.2.0",
+  "google-ads-ad_manager-v1": "0.2.1",
   "google-ads-ad_manager-v1+FILLER": "0.0.0",
   "google-analytics-admin": "0.5.1",
   "google-analytics-admin+FILLER": "0.0.0",
diff --git a/google-ads-ad_manager-v1/CHANGELOG.md b/google-ads-ad_manager-v1/CHANGELOG.md
index ca08f17a1386..c5f4e5cbfc14 100644
--- a/google-ads-ad_manager-v1/CHANGELOG.md
+++ b/google-ads-ad_manager-v1/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+### 0.2.1 (2025-01-25)
+
+#### Documentation
+
+* Clarify behavior of protobuf message fields that are part of mutually-exclusive sets 
+* Include note about validating externally-provided credentials 
+
 ### 0.2.0 (2024-12-10)
 
 #### Features
diff --git a/google-ads-ad_manager-v1/lib/google/ads/ad_manager/v1/version.rb b/google-ads-ad_manager-v1/lib/google/ads/ad_manager/v1/version.rb
index 8ca66e0bb75f..bf483dde65c4 100644
--- a/google-ads-ad_manager-v1/lib/google/ads/ad_manager/v1/version.rb
+++ b/google-ads-ad_manager-v1/lib/google/ads/ad_manager/v1/version.rb
@@ -21,7 +21,7 @@ module Google
   module Ads
     module AdManager
       module V1
-        VERSION = "0.2.0"
+        VERSION = "0.2.1"
       end
     end
   end