diff --git a/config/default/kustomization.yaml b/config/default/kustomization.yaml
index f90b4247..a27f56a4 100644
--- a/config/default/kustomization.yaml
+++ b/config/default/kustomization.yaml
@@ -13,6 +13,6 @@ transformers:
 images:
 - name: open-component-model/ocm-controller
   newName: ghcr.io/open-component-model/ocm-controller
-  newTag: v0.21.2
+  newTag: v0.21.3
 - name: registry
   newName: registry
diff --git a/docs/release_notes/v0.21.3.md b/docs/release_notes/v0.21.3.md
new file mode 100644
index 00000000..e25c63f2
--- /dev/null
+++ b/docs/release_notes/v0.21.3.md
@@ -0,0 +1,3 @@
+# Release 0.21.3
+
+- fix: message formatting not passed in (#432)
diff --git a/pkg/version/release.go b/pkg/version/release.go
index 52f4fd82..7c337e46 100644
--- a/pkg/version/release.go
+++ b/pkg/version/release.go
@@ -5,7 +5,7 @@
 package version
 
 // ReleaseVersion is the version number in semver format "vX.Y.Z", prefixed with "v".
-var ReleaseVersion = "v0.21.2"
+var ReleaseVersion = "v0.21.3"
 
 // ReleaseCandidate is the release candidate ID in format "rc.X", which will be appended to the release version.
 var ReleaseCandidate = "rc.1"