diff --git a/charts/redpanda-console-oauth2proxy/Chart.yaml b/charts/redpanda-console-oauth2proxy/Chart.yaml
index 760c2d92..0b23ac46 100644
--- a/charts/redpanda-console-oauth2proxy/Chart.yaml
+++ b/charts/redpanda-console-oauth2proxy/Chart.yaml
@@ -24,7 +24,7 @@ type: application
 # Versions are expected to follow Semantic Versioning (https://semver.org/)
 
 # Chart versions do not track appVersion
-version: 0.4.0
+version: 0.5.0
 
 # The app version is the version of the Chart application
 appVersion: v2.6.1
diff --git a/charts/redpanda-console-oauth2proxy/README.md b/charts/redpanda-console-oauth2proxy/README.md
index 605f8b4f..7579fb2f 100644
--- a/charts/redpanda-console-oauth2proxy/README.md
+++ b/charts/redpanda-console-oauth2proxy/README.md
@@ -6,7 +6,7 @@
 description: Find the default values and descriptions of settings in the Cheetah Redpanda Console Helm chart.
 ---
 
-![Version: 0.4.0](https://img.shields.io/badge/Version-0.4.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: v2.6.1](https://img.shields.io/badge/AppVersion-v2.6.1-informational?style=flat-square)
+![Version: 0.5.0](https://img.shields.io/badge/Version-0.5.0-informational?style=flat-square) ![Type: application](https://img.shields.io/badge/Type-application-informational?style=flat-square) ![AppVersion: v2.6.1](https://img.shields.io/badge/AppVersion-v2.6.1-informational?style=flat-square)
 
 Disclaimer - This chart is an extension of the official Cheetah Redpanda Console Helm Chart.
 The original source code can be found at https://github.com/redpanda-data/helm-charts/tree/main/charts/console.