diff --git a/CHANGELOG.md b/CHANGELOG.md
index c577df9a..b9c93096 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,14 @@
 # NVIDIA Container Toolkit Changelog
 
+## v1.16.0-rc.2
+- Use relative path to locate driver libraries
+- Add RelativeToRoot function to Driver
+- Inject additional libraries for full X11 functionality
+- Extract options from default runtime if runc does not exist
+- Avoid using map pointers as maps are always passed by reference
+- Reduce logging for the NVIDIA Container runtime
+- Fix bug in argument parsing for logger creation
+
 ## v1.16.0-rc.1
 
 - Support vulkan ICD files directly in a driver root. This allows for the discovery of vulkan files in GKE driver installations.
diff --git a/versions.mk b/versions.mk
index 0bb7ce96..fc66b9ed 100644
--- a/versions.mk
+++ b/versions.mk
@@ -14,7 +14,7 @@
 
 LIB_NAME := nvidia-container-toolkit
 LIB_VERSION := 1.16.0
-LIB_TAG := rc.1
+LIB_TAG := rc.2
 
 # The package version is the combination of the library version and tag.
 # If the tag is specified the two components are joined with a tilde (~).