diff --git a/CMakeLists.txt b/CMakeLists.txt
index 196e1865666903cd11529779b241ca7f2c69c6ae..a45019f9cf73c48b1f26937ed51435b46b384d69 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@
 
 cmake_minimum_required(VERSION 3.15)
 
-project(Rec VERSION 35.4
+project(Rec VERSION 35.5
         LANGUAGES CXX)
 
 # Enable testing with CTest/CDash
diff --git a/ReleaseNotes/v35r5.md b/ReleaseNotes/v35r5.md
new file mode 100644
index 0000000000000000000000000000000000000000..4357387d0c237c78bc9c03d37d95c13d849338ca
--- /dev/null
+++ b/ReleaseNotes/v35r5.md
@@ -0,0 +1,72 @@
+2023-03-03 Rec v35r5
+===
+
+This version uses
+Lbcom [v34r5](../../../../Lbcom/-/tags/v34r5),
+LHCb [v54r5](../../../../LHCb/-/tags/v54r5),
+Detector [v1r9](../../../../Detector/-/tags/v1r9),
+Gaudi [v36r11](../../../../Gaudi/-/tags/v36r11) and
+LCG [103](http://lcginfo.cern.ch/release/103/) with ROOT 6.28.00.
+
+This version is released on the `master` branch.
+Built relative to Rec [v35r4](/../../tags/v35r4), with the following changes:
+
+### New features ~"new feature"
+
+- ~Tracking ~FT | SciFi mat contraction calibration conditions, !2917 (@isanders)
+
+
+### Fixes ~"bug fix" ~workaround
+
+- ~Tracking | Fix BegRich2->AtT parameterised scatter, !3314 (@ausachov)
+- Move ITrackExtrapolator to a separate dictionary so it can be used in..., !3325 (@raaij)
+- Fix bug introduced in !3303, !3320 (@graven)
+- Fix data race introduced in lhcb/Rec!3293, !3299 (@graven)
+
+
+### Enhancements ~enhancement
+
+- ~Tracking | Introduce hit patterns to fix outlier removal in PrKalmanFilter, !3192 (@ausachov) [#427]
+- ~Functors | Adding option of default value to functor for relation tables, !3302 (@tnanut)
+- ~"MC checking" | Easier to read logging for some tools in Phys/MCAssociation, !3323 (@erodrigu)
+
+
+### Code cleanups and changes to tests ~modernisation ~cleanup ~testing
+
+- ~Decoding | Add DetDesc specific ref for PlumeReco.plume_decoding test, !3308 (@jonrob)
+- ~RICH | Fix RICH refs following making dd4hep default build, !3298 (@jonrob)
+- ~Build | Remove ignore subobject linkage warnings which have been fixed by gaudi/Gaudi!1425, !3318 (@graven)
+- Prefer LinkedTo when iterating over LinksByKey, !3319 (@graven)
+- Fix: Remove WARNING Message from WeightedRelTableAlg, !3306 (@tfulghes)
+- Remove LokiProtoParticles, !3304 (@graven)
+
+
+### Documentation ~Documentation
+
+- ~Functors | Add docstrings for functors, !3241 (@tfulghes)
+- Follows lhcb/Moore!1996, changes in Functor's reference page, !3307 (@tfulghes)
+
+### Other
+
+- ~Decoding ~RICH | Fix Rich/RichFutureRecSys/examples/RichDecode.py with dd4hep, !3328 (@jonrob)
+- ~Tracking | Use FastMomentaEstimation tool for VeloMuon tracks, !3234 (@peilian)
+- ~Calo ~"Event model" | Adds functor for brem-corrected momenta / covariance, !3233 (@mveghel)
+- ~Functors ~Tuples | Add more functors to access neutral CALO information, !3292 (@jzhuo)
+- ~Functors ~Tuples | New thor functors for differents types of covariance matrix, !3281 (@jzhuo)
+- Remove duplicated pytest (as qmt test), !3334 (@rmatev)
+- Fix stand-alone compilation of public headers, !3331 (@clemenci)
+- Add missing const, !3317 (@graven)
+- Fix my last-minute change to !3302, !3315 (@rmatev)
+- Follow !3307, !3313 (@rmatev)
+- Follow up !3307, !3312 (@rmatev)
+- Follow LHCb!3954, !3311 (@rmatev)
+- Revert !3308, !3309 (@rmatev)
+- Update References for: LHCb!3953, Moore!2053, DaVinci!809 based on lhcb-master-mr/6955, !3305 (@lhcbsoft)
+- Cleanup DaVinci Filters, !3303 (@graven)
+- Correct representation for TRACKISSELECTED, !3300 (@mwilkins)
+- Use ConditionAccessor in DVCommonBase rather than calling retrieveObject from detSvc, !3287 (@sponce)
+- MicroDST: remove unused code, !3297 (@graven)
+- Add the possibility to plot the residual distribution per module in FTTrackMonitor, !3293 (@gtuci)
+- Declare PrLHCbID2MCParticleVPFTMU, !3291 (@cburr)
+- Fix tests with ROOT 6.26, !3278 (@clemenci)
+- Support VeloMuon, MuonUT and SeedMuon tracks in TrackMasterFitter, !3248 (@ausachov)