diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 9c2cb04e418c..4926ec8037ee 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -153,7 +153,7 @@
   "google-cloud-build+FILLER": "0.0.0",
   "google-cloud-build-v1": "0.16.0",
   "google-cloud-build-v1+FILLER": "0.0.0",
-  "google-cloud-build-v2": "0.1.0",
+  "google-cloud-build-v2": "0.2.0",
   "google-cloud-build-v2+FILLER": "0.0.0",
   "google-cloud-certificate_manager": "0.3.0",
   "google-cloud-certificate_manager+FILLER": "0.0.0",
diff --git a/google-cloud-build-v2/CHANGELOG.md b/google-cloud-build-v2/CHANGELOG.md
index 1140468fdffb..ea5c520e5e3b 100644
--- a/google-cloud-build-v2/CHANGELOG.md
+++ b/google-cloud-build-v2/CHANGELOG.md
@@ -1,5 +1,11 @@
 # Changelog
 
+### 0.2.0 (2023-05-31)
+
+#### Features
+
+* Uses binary protobuf definitions for better forward compatibility ([#21673](https://github.com/googleapis/google-cloud-ruby/issues/21673)) 
+
 ### 0.1.0 (2023-03-01)
 
 #### Features
diff --git a/google-cloud-build-v2/lib/google/cloud/build/v2/version.rb b/google-cloud-build-v2/lib/google/cloud/build/v2/version.rb
index 3ac56891512a..a2b2b54adc8d 100644
--- a/google-cloud-build-v2/lib/google/cloud/build/v2/version.rb
+++ b/google-cloud-build-v2/lib/google/cloud/build/v2/version.rb
@@ -21,7 +21,7 @@ module Google
   module Cloud
     module Build
       module V2
-        VERSION = "0.1.0"
+        VERSION = "0.2.0"
       end
     end
   end
diff --git a/google-cloud-build-v2/snippets/snippet_metadata_google.devtools.cloudbuild.v2.json b/google-cloud-build-v2/snippets/snippet_metadata_google.devtools.cloudbuild.v2.json
index c56889d94d67..250655960821 100644
--- a/google-cloud-build-v2/snippets/snippet_metadata_google.devtools.cloudbuild.v2.json
+++ b/google-cloud-build-v2/snippets/snippet_metadata_google.devtools.cloudbuild.v2.json
@@ -1,7 +1,7 @@
 {
   "client_library": {
     "name": "google-cloud-build-v2",
-    "version": "0.1.0",
+    "version": "0.2.0",
     "language": "RUBY",
     "apis": [
       {