diff --git a/changelogs/CHANGELOG-v2.12.rst b/changelogs/CHANGELOG-v2.12.rst
index df4f5fc420b..19f0b7f3b14 100644
--- a/changelogs/CHANGELOG-v2.12.rst
+++ b/changelogs/CHANGELOG-v2.12.rst
@@ -5,6 +5,24 @@ ansible-core 2.12 "Dazed and Confused" Release Notes
 .. contents:: Topics
 
 
+v2.12.6rc1
+==========
+
+Release Summary
+---------------
+
+| Release Date: 2022-05-16
+| `Porting Guide <https://docs.ansible.com/ansible/devel/porting_guides.html>`__
+
+
+Bugfixes
+--------
+
+- Prevent losing unsafe on results returned from lookups (https://github.com/ansible/ansible/issues/77535)
+- arg_spec - Fix incorrect ``no_log`` warning when a parameter alias is used (https://github.com/ansible/ansible/pull/77576)
+- plugin loader will now load config data for plugin by name instead of by file to avoid issues with the same file being loaded under different names (fqcn + short name).
+- variablemanager, more efficient read of vars files
+
 v2.12.5
 =======
 
diff --git a/changelogs/changelog.yaml b/changelogs/changelog.yaml
index 871779b9643..b4924b3ef58 100644
--- a/changelogs/changelog.yaml
+++ b/changelogs/changelog.yaml
@@ -1442,3 +1442,26 @@ releases:
     - v2.12.5rc1_summary.yaml
     - winrm-kinit-path.yml
     release_date: '2022-04-18'
+  2.12.6rc1:
+    changes:
+      bugfixes:
+      - Prevent losing unsafe on results returned from lookups (https://github.com/ansible/ansible/issues/77535)
+      - arg_spec - Fix incorrect ``no_log`` warning when a parameter alias is used
+        (https://github.com/ansible/ansible/pull/77576)
+      - plugin loader will now load config data for plugin by name instead of by file
+        to avoid issues with the same file being loaded under different names (fqcn
+        + short name).
+      - variablemanager, more efficient read of vars files
+      release_summary: '| Release Date: 2022-05-16
+
+        | `Porting Guide <https://docs.ansible.com/ansible/devel/porting_guides.html>`__
+
+        '
+    codename: Dazed and Confused
+    fragments:
+    - 77535-prevent-losing-unsafe-lookups.yml
+    - 77576-arg_spec-no_log-aliases.yml
+    - config_load_by_name.yml
+    - v2.12.6rc1_summary.yaml
+    - vm_more_efficient.yml
+    release_date: '2022-05-16'
diff --git a/changelogs/fragments/v2.12.6rc1_summary.yaml b/changelogs/fragments/v2.12.6rc1_summary.yaml
new file mode 100644
index 00000000000..35dde5d8109
--- /dev/null
+++ b/changelogs/fragments/v2.12.6rc1_summary.yaml
@@ -0,0 +1,3 @@
+release_summary: |
+   | Release Date: 2022-05-16
+   | `Porting Guide <https://docs.ansible.com/ansible/devel/porting_guides.html>`__
diff --git a/lib/ansible/release.py b/lib/ansible/release.py
index 6baac901463..0143a9760c6 100644
--- a/lib/ansible/release.py
+++ b/lib/ansible/release.py
@@ -19,6 +19,6 @@
 from __future__ import (absolute_import, division, print_function)
 __metaclass__ = type
 
-__version__ = '2.12.5.post0'
+__version__ = '2.12.6rc1'
 __author__ = 'Ansible, Inc.'
 __codename__ = 'Dazed and Confused'