diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9974cec..13cce66 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,6 @@ All notable changes to the Simics Target Debug extension will be documented here
 
 ## [Unreleased]
 
-## [1.0.0] - 2026-11-02
+## [0.5.0] - 2026-11-02
 
 Initial release.
diff --git a/package-lock.json b/package-lock.json
index e18ef49..7231242 100644
--- a/package-lock.json
+++ b/package-lock.json
@@ -1,12 +1,12 @@
 {
     "name": "simics-target-debug",
-    "version": "1.0.0",
+    "version": "0.5.0",
     "lockfileVersion": 3,
     "requires": true,
     "packages": {
         "": {
             "name": "simics-target-debug",
-            "version": "1.0.0",
+            "version": "0.5.0",
             "license": "MIT",
             "dependencies": {
                 "@vscode/debugadapter": "^1.68.0",
diff --git a/package.json b/package.json
index 2dc81c2..e879cc1 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
     "name": "simics-target-debug",
     "displayName": "Simics Target Debug",
     "description": "Debug targets through a Target Communication Framework (TCF) agent, such as the Simics TCF agent.",
-    "version": "1.0.0",
+    "version": "0.5.0",
     "publisher": "intel-simics",
     "private": true,
     "license": "MIT",