diff --git a/README.md b/README.md
index 87ed158a..e2183179 100644
--- a/README.md
+++ b/README.md
@@ -14,6 +14,7 @@ at the following URL:
 * [v1.23.13](https://object-storage.public.mtl1.vexxhost.net/swift/v1/a91f106f55e64246babde7402c21b87a/magnum-capi/ubuntu-2004-v1.23.13.qcow2)
 * [v1.24.7](https://object-storage.public.mtl1.vexxhost.net/swift/v1/a91f106f55e64246babde7402c21b87a/magnum-capi/ubuntu-2004-v1.24.7.qcow2)
 * [v1.25.3](https://object-storage.public.mtl1.vexxhost.net/swift/v1/a91f106f55e64246babde7402c21b87a/magnum-capi/ubuntu-2004-v1.25.3.qcow2)
+* [v1.26.2](https://object-storage.public.mtl1.vexxhost.net/swift/v1/a91f106f55e64246babde7402c21b87a/magnum-capi/ubuntu-2204-v1.26.2.qcow2)
 
 ### Building images
 
diff --git a/magnum_cluster_api/cmd/image_builder.py b/magnum_cluster_api/cmd/image_builder.py
index f27ab58a..03d04b3e 100644
--- a/magnum_cluster_api/cmd/image_builder.py
+++ b/magnum_cluster_api/cmd/image_builder.py
@@ -40,20 +40,20 @@
 @click.option(
     "--operating-system",
     show_default=True,
-    default="ubuntu-2004",
-    type=click.Choice(["ubuntu-2004"]),
+    default="ubuntu-2204",
+    type=click.Choice(["ubuntu-2004", "ubuntu-2204"]),
     help="Operating system to build image for",
 )
 @click.option(
     "--version",
     show_default=True,
-    default="v1.25.3",
+    default="v1.26.2",
     help="Kubernetes version",
 )
 @click.option(
     "--image-builder-version",
     show_default=True,
-    default="v0.1.13",
+    default="v0.1.14",
     help="Image builder tag (or commit) to use for building image",
 )
 def main(operating_system, version, image_builder_version):