diff --git a/sdk/core/azure-core/CHANGELOG.md b/sdk/core/azure-core/CHANGELOG.md
index 7b9b5a99c..a64009589 100644
--- a/sdk/core/azure-core/CHANGELOG.md
+++ b/sdk/core/azure-core/CHANGELOG.md
@@ -1,17 +1,25 @@
 # Release History
 
-## 1.16.0-beta.2 (Unreleased)
+## 1.16.0 (2025-07-10)
 
 ### Features Added
 
-### Breaking Changes
+- [[#6535]](https://github.com/Azure/azure-sdk-for-cpp/issues/6535) Enable SSL caching for libcurl transport by default, which is backwards compatible behavior with older libcurl versions, so using the default settings won't result in transport error when using libcurl >= 8.12. The option is controlled by `CurlTransportOptions::EnableCurlSslCaching`, and is on by default. (A community contribution, courtesy of _[sushshring](https://github.com/sushshring)_)
 
 ### Bugs Fixed
 
-Fixed WinHTTP FailFast exception raised when a request is cancelled before the request is actually sent on the wire.
+- Fixed WinHTTP FailFast exception raised when a request is cancelled before the request is actually sent on the wire.
 
 ### Other Changes
 
+- [[#4952]](https://github.com/Azure/azure-sdk-for-cpp/issues/4952) Added internal support to pass connection timeout via context.
+
+### Acknowledgments
+
+Thank you to our developer community members who helped to make Azure Core better with their contributions to this release:
+
+- Sushrut Shringarputale _([GitHub](https://github.com/sushshring))_
+
 ## 1.16.0-beta.1 (2025-06-05)
 
 ### Features Added
diff --git a/sdk/core/azure-core/src/private/package_version.hpp b/sdk/core/azure-core/src/private/package_version.hpp
index e77e93cb5..77c7700d6 100644
--- a/sdk/core/azure-core/src/private/package_version.hpp
+++ b/sdk/core/azure-core/src/private/package_version.hpp
@@ -13,7 +13,7 @@
 #define AZURE_CORE_VERSION_MAJOR 1
 #define AZURE_CORE_VERSION_MINOR 16
 #define AZURE_CORE_VERSION_PATCH 0
-#define AZURE_CORE_VERSION_PRERELEASE "beta.2"
+#define AZURE_CORE_VERSION_PRERELEASE ""
 
 #define AZURE_CORE_VERSION_ITOA_HELPER(i) #i
 #define AZURE_CORE_VERSION_ITOA(i) AZURE_CORE_VERSION_ITOA_HELPER(i)
diff --git a/sdk/identity/azure-identity/CHANGELOG.md b/sdk/identity/azure-identity/CHANGELOG.md
index 63f8534d5..ceed00927 100644
--- a/sdk/identity/azure-identity/CHANGELOG.md
+++ b/sdk/identity/azure-identity/CHANGELOG.md
@@ -1,15 +1,20 @@
 # Release History
 
-## 1.12.0-beta.2 (Unreleased)
+## 1.12.0 (2025-07-10)
 
 ### Features Added
 
-### Breaking Changes
+- Added support for the `AZURE_TOKEN_CREDENTIALS` environment variable to `DefaultAzureCredential`, which allows for choosing between 'deployed service' and 'developer tool' credentials. Valid values are 'dev' for developer tools and 'prod' for deployed service.
 
 ### Bugs Fixed
 
+- [[#4952]](https://github.com/Azure/azure-sdk-for-cpp/issues/4952) Fixed `ManagedIdentityCredential` to fail fast if IMDS authentication is not available.
+- [[#4669]](https://github.com/Azure/azure-sdk-for-cpp/issues/4669) Fixed the order of credentials in `DefaultAzureCredential`: `ManagedIdentityCredential` before `AzureCliCredential`.
+
 ### Other Changes
 
+- Added support for overriding IMDS authority host in the `ManagedIdentityCredential` via `AZURE_POD_IDENTITY_AUTHORITY_HOST` environment variable.
+
 ## 1.12.0-beta.1 (2025-06-05)
 
 ### Features Added
diff --git a/sdk/identity/azure-identity/src/private/package_version.hpp b/sdk/identity/azure-identity/src/private/package_version.hpp
index 08ff8fa0b..d60539402 100644
--- a/sdk/identity/azure-identity/src/private/package_version.hpp
+++ b/sdk/identity/azure-identity/src/private/package_version.hpp
@@ -13,7 +13,7 @@
 #define AZURE_IDENTITY_VERSION_MAJOR 1
 #define AZURE_IDENTITY_VERSION_MINOR 12
 #define AZURE_IDENTITY_VERSION_PATCH 0
-#define AZURE_IDENTITY_VERSION_PRERELEASE "beta.2"
+#define AZURE_IDENTITY_VERSION_PRERELEASE ""
 
 #define AZURE_IDENTITY_VERSION_ITOA_HELPER(i) #i
 #define AZURE_IDENTITY_VERSION_ITOA(i) AZURE_IDENTITY_VERSION_ITOA_HELPER(i)
diff --git a/sdk/identity/azure-identity/vcpkg/vcpkg.json b/sdk/identity/azure-identity/vcpkg/vcpkg.json
index 4ca5d6e19..1377c75bc 100644
--- a/sdk/identity/azure-identity/vcpkg/vcpkg.json
+++ b/sdk/identity/azure-identity/vcpkg/vcpkg.json
@@ -18,7 +18,7 @@
     {
       "name": "azure-core-cpp",
       "default-features": false,
-      "version>=": "1.14.0"
+      "version>=": "1.16.0"
     },
     {
       "name": "openssl",