diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index e9ef102..254bf53 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -5,6 +5,15 @@ OKD Collection Release Notes
 .. contents:: Topics
 
 
+v3.0.1
+======
+
+Release Summary
+---------------
+
+This patch release fixes an issue in building the downstream collection.
+
+
 v3.0.0
 ======
 
diff --git a/Makefile b/Makefile
index 57ba068..b897aed 100644
--- a/Makefile
+++ b/Makefile
@@ -1,7 +1,7 @@
 .PHONY: molecule
 
 # Also needs to be updated in galaxy.yml
-VERSION = 3.0.0
+VERSION = 3.0.1
 
 SANITY_TEST_ARGS ?= --docker --color
 UNITS_TEST_ARGS ?= --docker --color
diff --git a/README.md b/README.md
index a15f0e8..4f6ba61 100644
--- a/README.md
+++ b/README.md
@@ -76,7 +76,7 @@ You can also include it in a `requirements.yml` file and install it via `ansible
 ---
 collections:
   - name: community.okd
-    version: 3.0.0
+    version: 3.0.1
 ```
 
 ### Installing the Kubernetes Python Library
diff --git a/changelogs/changelog.yaml b/changelogs/changelog.yaml
index a51c995..82cd00a 100644
--- a/changelogs/changelog.yaml
+++ b/changelogs/changelog.yaml
@@ -207,8 +207,20 @@ releases:
       deprecated_features:
       - openshift - the ``openshift`` inventory plugin has been deprecated and will
         be removed in release 4.0.0 (https://github.com/ansible-collections/kubernetes.core/issues/31).
-      release_summary: This major release drops support for ansible-core versions lower than 2.14 and Python versions lower than 3.9. It also deprecates ``openshift`` inventory plugin.
+      release_summary: This major release drops support for ansible-core versions
+        lower than 2.14 and Python versions lower than 3.9. It also deprecates ``openshift``
+        inventory plugin.
     fragments:
     - 20230206-deprecate-openshift-inventory.yml
     - 20231107-move-sanity-and-units-to-gha.yml
     release_date: '2023-11-20'
+  3.0.1:
+    changes:
+      release_summary: 'This patch release fixes an issue in building the downstream
+        collection.
+
+        '
+    fragments:
+    - downstream-gitignore.yml
+    - release_summary.yml
+    release_date: '2023-11-30'
diff --git a/ci/downstream.sh b/ci/downstream.sh
index aac01fe..c75398b 100755
--- a/ci/downstream.sh
+++ b/ci/downstream.sh
@@ -9,7 +9,7 @@
 #       - All functions are prefixed with f_ so it's obvious where they come
 #         from when in use throughout the script
 
-DOWNSTREAM_VERSION="3.0.0"
+DOWNSTREAM_VERSION="3.0.1"
 KEEP_DOWNSTREAM_TMPDIR="${KEEP_DOWNSTREAM_TMPDIR:-''}"
 INSTALL_DOWNSTREAM_COLLECTION_PATH="${INSTALL_DOWNSTREAM_COLLECTION_PATH:-}"
 _build_dir=""
diff --git a/galaxy.yml b/galaxy.yml
index ed20c1f..04db698 100644
--- a/galaxy.yml
+++ b/galaxy.yml
@@ -24,4 +24,4 @@ tags:
   - okd
   - cluster
 # Also needs to be updated in the Makefile
-version: 3.0.0
+version: 3.0.1