diff --git a/CHANGELOG.md b/CHANGELOG.md
index 86406ecb..4f96ccf8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,29 @@
 
 All notable changes to this project are documented in this file.
 
+## 1.0.0-rc.4
+
+**Release date:** 2023-05-29
+
+This release candidate comes with support for Kustomize v5.0.3.
+
+⚠️ Note that Kustomize v5 contains breaking changes, please consult their
+[changelog](https://github.com/kubernetes-sigs/kustomize/releases/tag/kustomize%2Fv5.0.0)
+for more details.
+
+In addition, the controller dependencies have been updated to
+Kubernetes v1.27.2 and controller-runtime v0.15.0.
+
+Improvements:
+- Update Kubernetes to v1.27 and Kustomize to v5
+  [#850](https://github.com/fluxcd/kustomize-controller/pull/850)
+- Update controller-runtime to v0.15.0
+  [#869](https://github.com/fluxcd/kustomize-controller/pull/869)
+- Update CA certificates
+  [#872](https://github.com/fluxcd/kustomize-controller/pull/872)
+- Update source-controller to v1.0.0-rc.4
+  [#873](https://github.com/fluxcd/kustomize-controller/pull/873)
+
 ## 1.0.0-rc.3
 
 **Release date:** 2023-05-12
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index 76497a3c..b29175a2 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/kustomize-controller
     newName: fluxcd/kustomize-controller
-    newTag: v1.0.0-rc.3
+    newTag: v1.0.0-rc.4
diff --git a/go.mod b/go.mod
index 8b8fe31e..135476de 100644
--- a/go.mod
+++ b/go.mod
@@ -23,7 +23,7 @@ require (
 	github.com/aws/aws-sdk-go-v2/service/sts v1.19.0
 	github.com/cyphar/filepath-securejoin v0.2.3
 	github.com/dimchansky/utfbom v1.1.1
-	github.com/fluxcd/kustomize-controller/api v1.0.0-rc.3
+	github.com/fluxcd/kustomize-controller/api v1.0.0-rc.4
 	github.com/fluxcd/pkg/apis/acl v0.1.0
 	github.com/fluxcd/pkg/apis/event v0.5.0
 	github.com/fluxcd/pkg/apis/kustomize v1.1.0