diff --git a/bindings/python/CHANGELOG.rst b/bindings/python/CHANGELOG.rst
index 07214240e..146279ffd 100644
--- a/bindings/python/CHANGELOG.rst
+++ b/bindings/python/CHANGELOG.rst
@@ -1,6 +1,12 @@
 Changelog
 =========
 
+Changes in Version 1.12.0
+-------------------------
+
+- Bundle libmongocrypt 1.12.0 in release wheels.
+- Add support for kms retries.
+
 Changes in Version 1.11.0
 -------------------------
 
diff --git a/bindings/python/libmongocrypt-version.txt b/bindings/python/libmongocrypt-version.txt
index 1cac385c6..0eed1a29e 100644
--- a/bindings/python/libmongocrypt-version.txt
+++ b/bindings/python/libmongocrypt-version.txt
@@ -1 +1 @@
-1.11.0
+1.12.0
diff --git a/bindings/python/release.sh b/bindings/python/release.sh
index 5ddb51e76..684b172b0 100755
--- a/bindings/python/release.sh
+++ b/bindings/python/release.sh
@@ -19,7 +19,7 @@ set -o errexit  # Exit the script with error if any of the commands fail
 LIBMONGOCRYPT_VERSION=$(cat ./libmongocrypt-version.txt)
 REVISION=$(git rev-list -n 1 $LIBMONGOCRYPT_VERSION)
 # The libmongocrypt release branch.
-BRANCH="r1.11"
+BRANCH="r1.12"
 # The python executable to use.
 PYTHON=${PYTHON:-python}
 
diff --git a/bindings/python/sbom.json b/bindings/python/sbom.json
index c290a9e33..5d59e542f 100644
--- a/bindings/python/sbom.json
+++ b/bindings/python/sbom.json
@@ -1,31 +1,31 @@
 {
   "components": [
     {
-      "bom-ref": "pkg:github/mongodb/libmongocrypt@1.11.0",
+      "bom-ref": "pkg:github/mongodb/libmongocrypt@1.12.0",
       "externalReferences": [
         {
           "type": "distribution",
-          "url": "https://github.com/mongodb/libmongocrypt/archive/refs/tags/1.11.0.tar.gz"
+          "url": "https://github.com/mongodb/libmongocrypt/archive/refs/tags/1.12.0.tar.gz"
         },
         {
           "type": "website",
-          "url": "https://github.com/mongodb/libmongocrypt/tree/1.11.0"
+          "url": "https://github.com/mongodb/libmongocrypt/tree/1.12.0"
         }
       ],
       "group": "mongodb",
       "name": "libmongocrypt",
-      "purl": "pkg:github/mongodb/libmongocrypt@1.11.0",
+      "purl": "pkg:github/mongodb/libmongocrypt@1.12.0",
       "type": "library",
-      "version": "1.11.0"
+      "version": "1.12.0"
     }
   ],
   "dependencies": [
     {
-      "ref": "pkg:github/mongodb/libmongocrypt@1.11.0"
+      "ref": "pkg:github/mongodb/libmongocrypt@1.12.0"
     }
   ],
   "metadata": {
-    "timestamp": "2024-08-08T02:35:36.986098+00:00",
+    "timestamp": "2024-12-30T18:25:06.574241+00:00",
     "tools": [
       {
         "externalReferences": [
@@ -68,7 +68,7 @@
       }
     ]
   },
-  "serialNumber": "urn:uuid:14e22848-7554-4f82-bcd1-76d2891b4c66",
+  "serialNumber": "urn:uuid:5e81b4d2-1313-43dd-9ec0-b958d0d71bca",
   "version": 1,
   "$schema": "http://cyclonedx.org/schema/bom-1.5.schema.json",
   "bomFormat": "CycloneDX",