diff --git a/changelogs/CHANGELOG-v2.18.rst b/changelogs/CHANGELOG-v2.18.rst
index 2c2a1fb3d49..7171d8d3846 100644
--- a/changelogs/CHANGELOG-v2.18.rst
+++ b/changelogs/CHANGELOG-v2.18.rst
@@ -4,6 +4,29 @@ ansible-core 2.18 "Fool in the Rain" Release Notes
 
 .. contents:: Topics
 
+v2.18.2rc1
+==========
+
+Release Summary
+---------------
+
+| Release Date: 2025-01-20
+| `Porting Guide <https://docs.ansible.com/ansible-core/2.18/porting_guides/porting_guide_core_2.18.html>`__
+
+Bugfixes
+--------
+
+- Ansible will now also warn when reserved keywords are set via a module (set_fact, include_vars, etc).
+- Ansible.Basic - Fix ``required_if`` check when the option value to check is unset or set to null.
+- Use consistent multiprocessing context for action write locks
+- ansible-test - Fix up coverage reporting to properly translate the temporary path of integration test modules to the expected static test module path.
+- ansible-vault will now correctly handle `--prompt`, previously it would issue an error about stdin if no 2nd argument was passed
+- copy action now prevents user from setting internal options.
+- gather_facts action now defaults to `ansible.legacy.setup` if `smart` was set, no network OS was found and no other alias for `setup` was present.
+- gather_facts action will now issues errors and warnings as appropriate if a network OS is detected but no facts modules are defined for it.
+- ssh - Improve the logic for parsing CLIXML data in stderr when working with Windows host. This fixes issues when the raw stderr contains invalid UTF-8 byte sequences and improves embedded CLIXML sequences.
+- ssh - connection options were incorrectly templated during ``reset_connection`` tasks (https://github.com/ansible/ansible/pull/84238).
+
 v2.18.1
 =======
 
diff --git a/changelogs/changelog.yaml b/changelogs/changelog.yaml
index 6717492d050..777a65598b7 100644
--- a/changelogs/changelog.yaml
+++ b/changelogs/changelog.yaml
@@ -659,3 +659,43 @@ releases:
     - become-runas-system-deux.yml
     - unsafe_hostvars_fix.yml
     release_date: '2024-11-25'
+  2.18.2rc1:
+    changes:
+      bugfixes:
+      - Ansible will now also warn when reserved keywords are set via a module (set_fact,
+        include_vars, etc).
+      - Ansible.Basic - Fix ``required_if`` check when the option value to check is
+        unset or set to null.
+      - Use consistent multiprocessing context for action write locks
+      - ansible-test - Fix up coverage reporting to properly translate the temporary
+        path of integration test modules to the expected static test module path.
+      - ansible-vault will now correctly handle `--prompt`, previously it would issue
+        an error about stdin if no 2nd argument was passed
+      - copy action now prevents user from setting internal options.
+      - gather_facts action now defaults to `ansible.legacy.setup` if `smart` was
+        set, no network OS was found and no other alias for `setup` was present.
+      - gather_facts action will now issues errors and warnings as appropriate if
+        a network OS is detected but no facts modules are defined for it.
+      - ssh - Improve the logic for parsing CLIXML data in stderr when working with
+        Windows host. This fixes issues when the raw stderr contains invalid UTF-8
+        byte sequences and improves embedded CLIXML sequences.
+      - ssh - connection options were incorrectly templated during ``reset_connection``
+        tasks (https://github.com/ansible/ansible/pull/84238).
+      release_summary: '| Release Date: 2025-01-20
+
+        | `Porting Guide <https://docs.ansible.com/ansible-core/2.18/porting_guides/porting_guide_core_2.18.html>`__
+
+        '
+    codename: Fool in the Rain
+    fragments:
+    - 2.18.2rc1_summary.yaml
+    - 84238-fix-reset_connection-ssh_executable-templated.yml
+    - Ansible.Basic-required_if-null.yml
+    - ansible-test-coverage-test-files.yml
+    - copy_validate_input.yml
+    - gather_facts_netos_fixes.yml
+    - macos-correct-lock.yml
+    - reserved_module_chekc.yml
+    - ssh-clixml.yml
+    - vault_cli_fix.yml
+    release_date: '2025-01-20'
diff --git a/changelogs/fragments/2.18.2rc1_summary.yaml b/changelogs/fragments/2.18.2rc1_summary.yaml
new file mode 100644
index 00000000000..d103532ca5c
--- /dev/null
+++ b/changelogs/fragments/2.18.2rc1_summary.yaml
@@ -0,0 +1,3 @@
+release_summary: |
+   | Release Date: 2025-01-20
+   | `Porting Guide <https://docs.ansible.com/ansible-core/2.18/porting_guides/porting_guide_core_2.18.html>`__
diff --git a/lib/ansible/release.py b/lib/ansible/release.py
index a4d13d76c0c..074384258f6 100644
--- a/lib/ansible/release.py
+++ b/lib/ansible/release.py
@@ -17,6 +17,6 @@
 
 from __future__ import annotations
 
-__version__ = '2.18.1.post0'
+__version__ = '2.18.2rc1'
 __author__ = 'Ansible, Inc.'
 __codename__ = "Fool in the Rain"
diff --git a/pyproject.toml b/pyproject.toml
index 3a206d1a7c1..595cffc8f41 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,5 +1,5 @@
 [build-system]
-requires = ["setuptools >= 66.1.0, <= 75.6.0"]  # lower bound to support controller Python versions, upper bound for latest version tested at release
+requires = ["setuptools >= 66.1.0, <= 75.8.0"]  # lower bound to support controller Python versions, upper bound for latest version tested at release
 build-backend = "setuptools.build_meta"
 
 [project]