diff --git a/changelogs/CHANGELOG-v2.18.rst b/changelogs/CHANGELOG-v2.18.rst
index 391e7464eda..33d28442fbf 100644
--- a/changelogs/CHANGELOG-v2.18.rst
+++ b/changelogs/CHANGELOG-v2.18.rst
@@ -4,6 +4,34 @@ ansible-core 2.18 "Fool in the Rain" Release Notes
 
 .. contents:: Topics
 
+v2.18.1rc1
+==========
+
+Release Summary
+---------------
+
+| Release Date: 2024-11-25
+| `Porting Guide <https://docs.ansible.com/ansible-core/2.18/porting_guides/porting_guide_core_2.18.html>`__
+
+Minor Changes
+-------------
+
+- ansible-test - When detection of the current container network fails, a warning is now issued and execution continues. This simplifies usage in cases where the current container cannot be inspected, such as when running in GitHub Codespaces.
+
+Security Fixes
+--------------
+
+- Templating will not prefer AnsibleUnsafe when a variable is referenced via hostvars - CVE-2024-11079
+
+Bugfixes
+--------
+
+- Fix returning 'unreachable' for the overall task result. This prevents false positives when a looped task has unignored unreachable items (https://github.com/ansible/ansible/issues/84019).
+- ansible-test - Fix traceback that occurs after an interactive command fails.
+- dnf5 - fix installing a package using ``state=latest`` when a binary of the same name as the package is already installed (https://github.com/ansible/ansible/issues/84259)
+- dnf5 - matching on a binary can be achieved only by specifying a full path (https://github.com/ansible/ansible/issues/84334)
+- runas become - Fix up become logic to still get the SYSTEM token with the most privileges when running as SYSTEM.
+
 v2.18.0
 =======
 
diff --git a/changelogs/changelog.yaml b/changelogs/changelog.yaml
index eb48744e8f2..c0795dec2fb 100644
--- a/changelogs/changelog.yaml
+++ b/changelogs/changelog.yaml
@@ -612,3 +612,39 @@ releases:
     - cve-2024-8775.yml
     - user_ssh_fix.yml
     release_date: '2024-10-29'
+  2.18.1rc1:
+    changes:
+      bugfixes:
+      - Fix returning 'unreachable' for the overall task result. This prevents false
+        positives when a looped task has unignored unreachable items (https://github.com/ansible/ansible/issues/84019).
+      - ansible-test - Fix traceback that occurs after an interactive command fails.
+      - dnf5 - fix installing a package using ``state=latest`` when a binary of the
+        same name as the package is already installed (https://github.com/ansible/ansible/issues/84259)
+      - dnf5 - matching on a binary can be achieved only by specifying a full path
+        (https://github.com/ansible/ansible/issues/84334)
+      - runas become - Fix up become logic to still get the SYSTEM token with the
+        most privileges when running as SYSTEM.
+      minor_changes:
+      - ansible-test - When detection of the current container network fails, a warning
+        is now issued and execution continues. This simplifies usage in cases where
+        the current container cannot be inspected, such as when running in GitHub
+        Codespaces.
+      release_summary: '| Release Date: 2024-11-25
+
+        | `Porting Guide <https://docs.ansible.com/ansible-core/2.18/porting_guides/porting_guide_core_2.18.html>`__
+
+        '
+      security_fixes:
+      - Templating will not prefer AnsibleUnsafe when a variable is referenced via
+        hostvars - CVE-2024-11079
+    codename: Fool in the Rain
+    fragments:
+    - 2.18.1rc1_summary.yaml
+    - 84019-ignore_unreachable-loop.yml
+    - 84259-dnf5-latest-fix.yml
+    - 84334-dnf5-consolidate-settings.yml
+    - ansible-test-fix-command-traceback.yml
+    - ansible-test-network-detection.yml
+    - become-runas-system-deux.yml
+    - unsafe_hostvars_fix.yml
+    release_date: '2024-11-25'
diff --git a/changelogs/fragments/2.18.1rc1_summary.yaml b/changelogs/fragments/2.18.1rc1_summary.yaml
new file mode 100644
index 00000000000..e22cd6404c3
--- /dev/null
+++ b/changelogs/fragments/2.18.1rc1_summary.yaml
@@ -0,0 +1,3 @@
+release_summary: |
+   | Release Date: 2024-11-25
+   | `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 2b074d62524..529859a86a6 100644
--- a/lib/ansible/release.py
+++ b/lib/ansible/release.py
@@ -17,6 +17,6 @@
 
 from __future__ import annotations
 
-__version__ = '2.18.0.post0'
+__version__ = '2.18.1rc1'
 __author__ = 'Ansible, Inc.'
 __codename__ = "Fool in the Rain"
diff --git a/pyproject.toml b/pyproject.toml
index 9cba19eeae3..3a206d1a7c1 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,5 +1,5 @@
 [build-system]
-requires = ["setuptools >= 66.1.0, <= 75.3.0"]  # lower bound to support controller Python versions, upper bound for latest version tested at release
+requires = ["setuptools >= 66.1.0, <= 75.6.0"]  # lower bound to support controller Python versions, upper bound for latest version tested at release
 build-backend = "setuptools.build_meta"
 
 [project]